Primarily, AMIC makes mortgage investments in Ottawa and the surrounding regions of Eastern Ontario. We feel that it's best, as the company grows, to lend where we live because we can see and monitor the properties. And because of AMIC's connection to and relationship with Mortgage Brokers Ottawa, AMIC is assured of a constant flow of quality mortgage applications.
When reviewing AMIC as a potential investment, you may wish to review your current portfolio to ensure that it is not unsuitably overconcentrated in other products with an Ottawa-centric geographic focus.
That being said, AMIC management believes that the underlying economic fundamentals of Ottawa are strong and that the region presents an attractive investment opportunity for any lender providing mortgages to residential borrowers.
Ottawa is widely regarded as the most stable real estate market in Canada, largely due to an educated population and diverse economy anchored by federal government employment and a thriving tech sector.
Recently, MoneySense ranked Ottawa as the best place to live in Canada.
The 2016 census is a great source of information about Ottawa, including that (as of the date of the census):
The job market is consistently strong and growing:
The new and resale residential housing markets are reliably moderate:
The City of Ottawa's Economic Development office publishes quarterly updates that can also be used to review market conditions in the city.
AMIC requires that all mortgage applications be supported by a full residential appraisal (addressed to AMIC via a letter of transmittal) written by an appraiser who is a member of the Appraisal Institute of Canada.
Ottawa is widely regarded as the most stable real estate market in Canada, largely due to an educated population and diverse economy anchored by federal government employment and a thriving tech sector. The last time the average home price in Ottawa dropped was 1994, 1995 and 1996 when prices dropped from $147k to $140k, or approx. 5%.
For more statistics from OREB, click here.
Ottawa's Housing Price Index (HPI) is moderate when compared with other Canadian urban centres over the last five years as per this CREA chart: