***CONWAY FUNG HOMES...Keller Williams Ottawa Realty...see BLOG ARCHIVES***
Faircrest Heights and Rideau Park, Ottawa
Many readers of Conway Fung Homes’ web page and blog might have already noticed the major transformation going on in the Faircrest Heights and Rideau Park neighborhoods over the past eight years or so. Faircrest Heights (district code 3603) is bounded by Smyth Road on the north, Alta Vista Drive on the east, Pleasant Park on the south and Riverside Drive on the west. Rideau Park (district code 3606) is bounded by Smyth Road on the north, Alta Vista Drive on the west, Lynd Lane on the east and Kilborn Avenue on the south.
Both of these neighborhoods have benefited from significant real estate investments devoted to upgrading existing homes or demolishing older homes to construct new homes. As Ottawa grows, we should not be surprised that there is sustained pressure to have more central, upper-end housing areas in the same class as Rothwell Heights and the Glebe for instance. It is difficult to match the central location of Faircrest Heights and Rideau Park, combined with beautiful older trees and green spaces, and the close proximity of excellent transportation arteries to all parts of the city.
Yet another home making way for new construction in Faircrest Heights (6 September 2011)
The upside has been good for those who have moved into these neighborhoods over the past number of years as can be seen in Table 1 below. However, the opportunities have not yet been exhausted. Good buys in these areas do still emerge from time-to-time and the “build-up” of these neighborhoods is some years away from being exhausted from a new investment perspective.
Table 1: Yearly Changes 2005-2010 in Houses Sold and Average House Values