Several communities in Ottawa are rapidly emerging as up-and-coming neighbourhoods, promising an exciting real estate forecast for those seeking a fresh start. Whether you’re looking to sell your home on your own or work with an agent, we’ve gathered a short list of areas in 2023 to keep your eye on!
First, be sure to explore the outskirts, where we’ve seen a remarkable transformation over the past few years. Gone are the days when the likes of Arnprior and Carleton Place were patches of undeveloped land. Today, they’ve evolved into self-contained mini-cities with impressive amenities.
And we’ve got some exciting news for those who have felt the dream of owning a home in an Ottawa suburb was out of reach. With interest rates expected to decrease by 2024, the real estate market will likely shift and open up more affordable properties in communities surrounding the city, like Kanata, Riverside South and Orléans. This will allow young families and individuals to realize their dreams of homeownership in some of Ottawa’s top neighbourhoods.
Lastly, the east side stands out as a region brimming with potential and bang for your buck. With a variety of housing options at relatively low home prices, these areas have become very appealing to first-time homebuyers, families, young professionals and seniors looking to get more value for their money.
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The Top Up-And-Coming Ottawa Valley Towns in 2023
Now is the time to seize the opportunity and make your move in this changing market, especially in these up and coming areas around Ottawa.
Pakenham, Carleton Place & Arnprior
The towns of Packenham, Carleton Place, and Arnprior on the outskirts of Ottawa offer abundant natural rural beauty and undeniable charm.
Excitingly, these areas have recently experienced significant development, which, in turn, has sparked interest in real estate. Each neighbourhood’s growth is evidenced by new amenities that now dot the formerly undeveloped landscape. Today, everything you need is within reach, from boutiques and culinary gems that enhance the local character to familiar and convenient chains like Starbucks and Home Depot.
And, as Packenham, Carleton Place, and Arnprior have flourished, modern housing options have joined the ranks of the heritage homes available for sale.
While you can find a home to match any budget, average prices span from $500k to $550k.
Riverside South & Barrhaven
Barrhaven and Riverside South are centrally located and well-connected to all of Ottawa. Recently, due to soaring housing prices, these areas became prohibitively expensive for some, but now the prospect of lower interest rates suggests that these desirable suburbs will experience a resurgence.
Located along the beautiful banks of the Rideau River, the growing community of Riverside South is a first choice for families, professionals, young couples and active seniors. Not long ago, the area was part of the former city of Gloucester. Back then, it was primarily farmland, but (like other major suburban communities in the south end of Ottawa) major developments have transformed Riverside South into a thriving community with excellent schools, accessible parks and a wealth of amenities.
Nearby Barrhaven is also renowned for its well-designed neighbourhoods featuring spacious suburban homes. And, thanks to its safe, family-friendly living environment, it is affectionately called “The Haven.” Convenient shopping areas with coffee shops, popular big-box stores, and a diverse range of restaurants can be found around every turn in Barrhaven.
Currently, the average price in both suburbs is in the mid to high 600s.
Kanata & Stittsville
The suburbs of Kanata and Stittsville are also expected to make a comeback once interest rates decrease. Situated in western Ottawa, only a few kilometres apart, both communities offer a range of housing options to suit different preferences and budgets.
Kanata is home to high-tech companies and business parks, offering a multitude of employment opportunities. It is a well-rounded community in a prime location that families and individuals alike flock to for the high-quality schools, plentiful green space and endless amenities.
Just minutes down the road, Stittsville has a quaint, small-town feel with heritage homes and tree-lined streets. The community is known for its spacious lots and well-maintained neighbourhoods. And, while Stittsville offers a tranquil suburban setting, it is still conveniently close to any urban amenity you might need.
Real estate prices in Kanata or Stittsville vary, but the average sales price is presently hovering in the low $700s.
Orléans
Orléans is a vibrant and family-oriented community east of downtown Ottawa. Known for its proximity to the Ottawa River and strong Francophone influence, it offers a blend of cultural diversity and a welcoming atmosphere.
With its great location, many amenities, and natural beauty, Orleans is perfect for families and individuals seeking life in the suburbs with close proximity to the city. Orléans currently has an average sales price in the mid $600s.
Rockland, Casselman, Embrun & Limoges
Just a bit further east, you’ll find additional untapped opportunities in Ottawa’s real estate market. Towns such as Embrun, Casselman, Rockland, and Limoges offer a relaxed lifestyle in close-knit communities that are still a reasonable commuting distance of the city. Rural charm and heritage buildings are combined with the latest amenities, and many of these areas maintain a rich francophone heritage.
One of the key factors contributing to the growing popularity of these neighbourhoods is the affordability of housing as compared to central Ottawa. Home buyers have the freedom to choose from spacious detached single-family homes or more modern housing options, such as the new luxury properties in Embrun and Rockland. Where else can you find a townhouse in a golf course community for less than $540k or a condo surrounded by nature for $430k?
Hintonburg
Hintonburg, a thriving neighbourhood conveniently located in Ottawa’s downtown core, is experiencing ongoing revitalization. More and more people are drawn to live in the area due to its vibrant atmosphere, unique artistic character, and proximity to Parliament Hill. It’s also home to an eclectic mix of trendy shops, local businesses and great restaurants, adding to its appeal.
It is worth highlighting that due to its prime location, the average sales price in HIntonburg is $800k+, which is a higher price point than other areas mentioned on this list.
Find the Perfect Up and Coming Neighbourhood for You
Are you ready to discover the hidden gems of Ottawa’s up and coming neighbourhoods? We’re ready to show them to you!
Whether you’re buying, selling or investing in Ottawa, the Paul Rushforth team is here to offer unwavering support. We’ll share up-to-date information with you, including the latest market trends, pricing and inventory throughout the Ottawa Valley.
We truly have our fingers on the pulse of the local real estate market, so don’t hesitate to reach out to us today. We’ll help you navigate the world of residential real estate in Ottawa with confidence.
