House hunters camped out overnight to view plans for a new building development, as the housing market heats up in Canada’s capital.
Tanya Janic wasn’t taking any chances on missing out when she heard HN Homes has 26 new housing lots for sale in Ottawa’s Riverside south suburb.
“As soon as I found out I just grabbed my stuff and came here,” she told CTV Ottawa.
“I arrived after work and there was already a big line-up. I was 25th in the line and there are 26 lots.”
Many other aspiring homeowners brought lawn chairs and slept in their cars.
“I was here at about 2:30 in the afternoon, then (my husband) took over and we went back and forth to get supplies and a sleeping bag,” Yvette Besner said.
Realtor Sarah Wright said a lot of buyers want new builds to avoid bidding wars.
“There is no inventory so clients are moving towards new builds because it’s a sure shot. They have to wait in line but they don’t have to compete in multiple offers,” she told CTV Ottawa.
Prices for the featured lots range from $615,000 to almost $900,000.
New schools and the promise of light rail transit are driving demand and prices for the development, which is due to open in 2020.
Ottawa is now the country’s fourth most expensive housing market, according to a new survey by real estate franchiser Royal LePage.
The aggregate home price there rose 7.7 per cent year-over-year to $469,407 in the first quarter of 2019.
--- With files from CTV Ottawa
