The rent prices in real estate in Ottawa, in the Ontario region have fallen considerably in the last couple of months. There has been a strong fall in the rent prices in this city.
The price per sq.feet in Ottawa has had a strong fall during the last 6 months. In October, the average price per sq.feet was $214.78. In the following month the price per sq.feet fell considerably to $2.28. The price for the following two months in (December, January) had a considerable fall of 2 with regard to the previous two months. The price per sq.feet has had a considerable fall of 4 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per sq.feet of $55.39 to $2.19 during February, and March.
When referring to the price in Ottawa (cities), there have hardly been any changes in the last 6 months. In our first sample month during October, the average price is $1,834. In November This price remains at $1,877. In the following two months the average price has hardly changed with regard to the previous two months from $1,855.5 to $1,781.5. During the last two months, the average price has barely gone through any changes with regard to the previous average values going from an average value of $1,818.5 and $1,768 between February and March.
The graph displaying the average rent price for bedrooms illustrates that those properties with 1 bedroom are the most affordable ones. At a price of $1,687 they are 12 % more affordable than the average price for Ottawa . The properties with the highest average price have 4 bedrooms, Their price is 53 % more expensive than the average. After that we have properties with 3 bedrooms priced at $2,184.
With regard to the average price per sq.feet, those properties with 3 bedrooms are the most affordable ones at a cost of $1.88 / sq.feet, with an average $2.2 / sq.feet price in Ottawa. The properties with the most expensive average prices have 1 bedroom. They are 8 % more expensive than the average followed by properties with 2 bedrooms with a price at $2.06 / sq.feet.
The graph displaying the average rent prices displays the property type "House" as the most affordable one. At an cost of $1,687 it is 9 % more affordable than the average price in Ottawa. "Duplex" is seen as the second most affordable property type. The most expensive property type is "Condo" followed by "Land". At a price of $2,139 it is 47 % more expensive than the average price.
According to the average cost per sq.feet, the most affordable property is "Duplex" at an average price of $1 / sq.feet followed by "Land" priced at $1.99 / sq.feet. "Apartment" is the most expensive type of property with a $2.64 / sq.feet value followed by "Condo" with an average price of $2.26 / sq.feet.