Ottawa condo prices keep rising according to a recent Royal LePage survey, though average price increases in the national capital lagged behind the national average by more than one per cent.

The realtor's survey of Canadian house prices showed that for the first three months of 2008, the average price of a standard two-bedroom condo in Ottawa was $198,083, or 5.7 per cent higher than the same period last year. Conversely, the national average was $240,423, or 6.9 per cent higher than 2007's first three months.

But despite Ottawa's relatively modest price increase, only 16 per cent of the capital's residents said they'd buy a condo for its affordability, according to another recently-released survey by TD Canada Trust.

In the TD survey, more than a third (36 per cent) of Ottawans said they'd pay no more than $200,000 for a two-bedroom condo, compared with 28 per cent nationally. A further 58 per cent indicated $200,000-$400,000 was their price range, six per cent less than the national average.

"With relatively modest price increases for standard condominiums in Ottawa over the past few years compared with other Canadian cities, it is no surprise that Ottawans don't focus on affordability when thinking about buying a condo," said Joan Dal Bianco, TD Canada Trust's vice president of real estate and secured lending.

"And with economists predicting improved affordability in Canadian housing markets this year and next, they will likely not need to worry about condo prices anytime soon."