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Board president suggests owners of rental properties who might have put them on the resale market in the past are retaining homes and condos “for investment purposes.”

Purchasers were hit with double-digit price increases in September despite a drop in sales compared with a year earlier.

The average sale price of a residential-class property in the capital was about $685,000 last month, up 17 per cent from a year ago.

The average residential-class property in the capital sold for $741,000 in May, an increase of 35 per cent over the same month a year ago.

Stricter measures aimed at slowing the spread of COVID-19 this spring had little effect on Ottawa’s torrid housing market in April as the average price of residential properties continued to soar, the latest figures from the Ottawa Real Estate Board show. Residential-class homes in Ottawa sold for an average of nearly $743,000 last month, a 42 per cent increase over April 2020, OREB said Wednesday. The average condo, meanwhile, went for nearly $430,000 ​– 30 per cent more than a year ago.  More than 2,400 properties changed hands in April, compared with 911 the previous year – but th...