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 January, the average price per sq.feet was $2.28. In February this price barely changed remaining at $2.18 per sq.feet. The price for the following two months in (March, April) had a considerable fall of 45 with regard to the previous two months. The price per sq.feet has had a considerable rise of 143 % 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 $1.62 to $2.32 during May, and June.
When referring to the price in Ottawa (cities), this has fallen considerably in the last 6 months. The average price for January is $1,964. During February the price had a slight fall till $1,803. During the following two months (March, April) the average price had a considerable fall of 49 % with regard to the previous two months. Based on an analysis of the first four prices and the last two months the average price has had a strong increase of 138 % during the last two months.
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 $1,939 they are 27 % more affordable than the average price for Ottawa . The properties with the highest average price have 4 bedrooms, Their price is 34 % more expensive than the average. After that we have properties with 3 bedrooms priced at $2,261.
With regard to the average price per sq.feet, those properties with 4 bedrooms are the most affordable ones at a cost of $1.18 / sq.feet, with an average $2.26 / sq.feet price in Ottawa. The properties with the most expensive average prices have 1 bedroom. They are 15 % more expensive than the average followed by properties with 2 bedrooms with a price at $2.2 / sq.feet.
The graph displaying the average rent prices displays the property type "Apartment" as the most affordable one. At an cost of $1,939 it is 60 % more affordable than the average price in Ottawa. "Land" is seen as the second most affordable property type. The most expensive property type is "Condo" followed by "Office". At a price of $2,353 it is 47 % more expensive than the average price.
According to the average cost per sq.feet, the most affordable property is "Apartment" at an average price of $0.03 / sq.feet followed by "Land" priced at $2 / sq.feet. "Condo" is the most expensive type of property with a $2.89 / sq.feet value followed by "Office" with an average price of $2.46 / sq.feet.