Roch St-Georges

Investor dream!! Semi-Detached Bungalow located on a corner lot in a quiet family oriented neighbourhood. Both levels has their own kitchen, 2 bedrms, 3 pc bth and laundry. High eff furnace/06, Roof/ 01, Fascia & Sofit / 01, C/Air / 01. Washer and Dryer in each unit are included. Vacant easy to show. Easy rental income potential for investor or you can move into one and rent out the other to help pay the mortgage! Come and see it! 613-889-7732

Asking price: $279,900

Quick Call 613-889-7732 to Book Your Showing Today!

OTTAWA – The Bank of Canada today announced that it is raising its target for the overnight rate by one-quarter of one percentage point to 3/4 per cent. The Bank Rate is correspondingly 1 per cent and the deposit rate is 1/2 per cent. The global economic recovery is proceeding but is not yet self-sustaining. Greater emphasis on balance sheet repair by households, banks, and governments in a number of advanced economies is expected to temper the pace of global growth relative to the Bank's outlook in its April Monetary Policy Report (MPR). While the policy response to the European sovereign debt crisis has reduced the risk of an adverse outcome and increased the prospect of sustainable long term growth, it is expected to slow the global recovery over the projection horizon. In the United States, private demand is picking up but remains uneven.

Economic activity in Canada is unfolding largely as expected, led by government and consumer spending. Housing activity is declining markedly from high levels, consistent with the Bank's view that policy stimulus resulted in household expenditures being brought forward into late 2009 and early 2010. While employment growth has resumed, business investment appears to be held back by global uncertainties and has yet to recover from its sharp contraction during the recession.

The Bank expects the economic recovery in Canada to be more gradual than it had projected in its April MPR, with growth of 3.5 per cent in 2010, 2.9 per cent in 2011, and 2.2 per cent in 2012. This revision reflects a slightly weaker profile for global economic growth and more modest consumption growth in Canada. The Bank anticipates that business investment and net exports will make a relatively larger contribution to growth.

Inflation in Canada has been broadly in line with the Bank's April projection. While the Bank now expects the economy to return to full capacity at the end of 2011, two quarters later than had been anticipated in April, the underlying dynamics for inflation are little changed. Both total CPI and core inflation are expected to remain near 2 per cent throughout the projection period. The Bank will look through the transitory effects on inflation of changes to provincial indirect taxes.

Reflecting all of these factors, the Bank has decided to raise the target for the overnight rate to 3/4 per cent. This decision leaves considerable monetary stimulus in place, consistent with achieving the 2 per cent inflation target in light of the significant excess supply in Canada, the strength of domestic spending, and the uneven global recovery.

Given the considerable uncertainty surrounding the outlook, any further reduction of monetary stimulus would have to be weighed carefully against domestic and global economic developments.

Inventory Increases, Market Balances in June 2010

Members of the Ottawa Real Estate Board sold 1,615 residential properties in June through the Board’s Multiple Listing Service® system compared with 1,897 in June 2009, a decrease of 14.9 per cent.

Of those sales, 418 were in the condominium property class, while 1,197 were in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, stacked etc.) which is registered as a condominium, as well as properties which are co-operatives, life leases and timeshares. The residential property class includes all other residential properties.

“For the first time in 2010, inventory increased year-over-year in June, by almost six per cent. The Ottawa housing market is now moving towards balance, rather than the seller’s market we have been in for most of the past year,” said Board President Pierre de Varennes. “Sales last month were very close to the five-year average for June, so what we see here is a return to the stable, steady market conditions that Ottawa tends to experience. Home sale prices continued to grow at a healthy rate in June,” he added.

The average sale price of residential properties, including condominiums, sold in June in the Ottawa area was $326,572, an increase of 6.4 per cent over June 2009. The average sale price for a condominium-class property was $256,969, an increase of 8.3 per cent over June 2009. The average sale price of a residential-class property was $350,878, an increase of 7.4 per cent over June 2009. The Board cautions that average sale price information can be useful in establishing trends over time but should not be used as an indicator that specific properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of all properties sold.

Source OREB