Buying a House in Ottawa

The Ottawa–Gatineau market in official numbers

Statistics Canada's new housing price index for Ottawa–Gatineau is 162.3 (Sep 2026), up 1.0% vs 12 months earlier. It tracks new homes with the same specifications over time, not resale prices.

Housing starts over the latest 12 months: 14,228 units (Sep 2026). Purpose-built 2-bedroom rent: $1,757 (October 2025 survey); vacancy: 3.40% (October 2025 survey).

Federal rules that apply everywhere

• You need at least 5% of the first $500,000, plus 10% of any part of the price above $500,000. At $1,500,000 or more, the minimum is 20%.
• The qualifying rate is the higher of your contract rate plus 2 percentage points or 5.25%.
• Default insurance is required with less than 20% down. In Ontario, provincial sales tax on the premium is paid in cash at closing.

Steps to buy

• Check your budget and credit, and estimate what you can afford at the stress-test rate.
• Save the down payment and closing costs; an FHSA and the Home Buyers' Plan can help first-time buyers.
• Get pre-approved so you know your maximum mortgage and can hold a rate.
• Make an offer with conditions you need, such as financing and inspection.
• Finalize the mortgage, arrange property insurance and complete closing with your lawyer or notary.

Ottawa–Gatineau market conditions

New-home prices in Ottawa–Gatineau, measured by Statistics Canada's new housing price index, are up 1.0% vs 12 months earlier. Housing starts over the latest 12 months total 14,228 units (Sep 2026), up 16.1% vs prior 12 months.

For renters weighing a purchase, the average purpose-built two-bedroom rent is $1,757 (October 2025 survey) and the rental vacancy rate is 3.40% (October 2025 survey).

Land transfer tax in Ottawa

Ottawa buyers pay Ontario's land transfer tax but no municipal land transfer tax. On the Quebec side, Gatineau charges Quebec's welcome tax.

Today's borrowing costs

On new uninsured mortgages, Canadians paid an average of 4.58% (Aug 2026) for fixed terms of five years or more and 3.90% (Aug 2026) for variable rates, according to the Bank of Canada. Insured borrowers paid 4.12% and 3.74%.

The Bank of Canada's policy rate is 2.50% (Nov 11, 2026) and the banks' prime rate is 4.70% (Nov 11, 2026). Variable rates move with prime; fixed rates follow Government of Canada bond yields, with the 5-year yield at 3.46% (Nov 10, 2026).