Cost- Ottawa has generally seen more stable price conditions through 2026 than the sharper declines in the GTA.
- The city's large federal public-sector employment base continues to provide a relatively stable demand anchor compared to cities more exposed to investor and pre-construction cycles.
- Inventory has risen somewhat compared to the tighter conditions of 2021-2022, similar to the broader Ontario trend, but less pronounced than in Toronto.
Why Ottawa has been comparatively stable
Ottawa has generally avoided the sharper price declines seen in the GTA through 2026, part of a pattern where cities less exposed to heavy pre-construction investor supply have held up more steadily. Ottawa's new-construction and condo investor activity has historically been smaller in scale relative to Toronto's, meaning the specific supply-wave dynamics weighing on Toronto condos (see our Toronto market update) are less pronounced here.
The public-sector demand anchor
As the national capital, Ottawa has an unusually large concentration of federal public-sector employment, which tends to be more stable through economic cycles than employment concentrated in more cyclical private-sector industries. This provides a demand floor that's somewhat less sensitive to the broader economic and rate-driven swings affecting other major markets.
How it compares to Toronto and the national picture
Inventory has risen somewhat compared to the tight 2021-2022 conditions, consistent with the broader Ontario and national trend described in our 2026 price update, but the shift has generally been less pronounced than in the GTA specifically. Ottawa remains meaningfully less expensive than Toronto on average, which continues to draw some buyers priced out of the GTA.
Considering an Ottawa purchase? Check your numbers with the mortgage payment calculator and Ontario's closing costs on the closing cost calculator.
- Canadian Real Estate Association (CREA) — accessed September 2026