What are the best up-and-coming neighbourhoods of 2016? They are the houses that are wedged between high-value neighbourhoods with great locations, schools, shops, stores, parks, and more, but have avoided the high price tags that are usually associated with the surrounding area.
2014 to 2015 Changes In House Valuation: $444,557 to $464,599 (up $20,042)
This South Central location is quickly becoming one of the most desirable areas in Edmonton for families. Parkallen, which is bounded on the north by 71 ave, to the west by 113 st, to the south by 61 ave, and on the east by 109 ave, is in close proximity to the University of Alberta main campus, the LRT, the University of Alberta Hospital, Whyte Avenue, and Southgate Centre. From 109 st, it's a quick drive in and out of Edmonton’s downtown core.
For young families, the Violet Archer Park is a great place to enjoy the outdoors in the summer, and Parkallen Elementary School, which has a fantastic bilingual Mandarin program, is surrounded by green space and family homes. Additionally, Parkallen Community League hosts events year round that are fun for the whole family.
Compared to the two surrounding neighbourhoods of Mckernan and Belgravia, the sales price of the houses in Parkallen are much more affordable.
2014 to 2015 Changes In House Valuation: Pleasantview $447,179 to $442,976 (down $4,203)
As Pleasantview is located directly southeast of Parkallen, you'll find a lot of the same location advantages in Pleasantview as you do in Parkallen. However, with its eastern border being Calgary Trail / 104st, one of the busiest arterial roads in Edmonton, you'll find a strong commercial element in this neighbourhood, with easy access to the Southgate LRT station, Southgate Centre Mall, South Edmonton Common, Whyte Ave, and Downtown.
With large lots and a 5% lower-than-average price compared to neighbouring Lendrum Place, this neighbourhood is ideal for families (which, according to the 2011 census, made up the largest demographic of Pleasantview).
My favourite perk? You'll find Edmonton's historic Southside Italian Centre within walking distance.
2014 to 2015 Changes in House Valuation: $363,060 to $386,600 (up $23,540)
With its southern border falling on Whyte Avenue, homes in Idylwylde are walking access to Whyte Avenue, the River Valley, Mill Creek Outdoor Pool, and more.
Out of the five up-and-coming neighbourhoods I chose, Idylwylde by far had the biggest change in house valuation from 2014-2015. However, even with the price change, the house values are still exceptionally reasonable when compared to the average price of neighbouring Bonnie Doon (the average price for listings currently on sale in Bonnie Doon are $533,193).
If you want all the benefits of a well-loved neighbourhood like Bonnie Doon without the high cost, consider Idylwylde.
2014 to 2015 Changes in House Valuation: $357,324 to $378,228 (up $20,904)
We now move north of the Saskatchewan River for our next neighbourhood, Inglewood, which is bounded on the north by 118 ave, on the south by 111 ave, on the west by Groat Road, and on the east by the former Canadian National Railway. This neighbourhood is surrounded by busy traffic routes, making inner city driving a breeze, while its residential streets are quiet, calm, quaint and lined with trees.
The neighbourhood is within driving distance of all levels of educational institutions: NAIT, Grant MacEwan University, Ross Sheppard High School, and more. In Inglewood, you'll find Inglewood Elementary School, St. Andrew’s Catholic Elementary School, and Westmount Junior High School.
The lots in Inglewood are a great size and reasonably priced, and with the up-and-coming Blatchford neighbourhood being built to the northeast, right now would be a great time to buy.
2014 to 2015 Changes in House Valuation: $423,103 to $427,843 (up $4,740)
Originally called Westgrove, Grovenor is one of my favourite up-and-coming neighbourhoods. This neighbourhood is bordered on the east by 142 st, on the west by 149 st, on the north by 107 ave, and on the south by the MacKinnon Ravine. MacKinnon Ravine Park, which is part of the River Valley, is one of the most picturesque locations in Edmonton and is great for outdoor activities.
Grovenor shares an eastern border with Glenora, which as of today, has an average listing price of $664,273, compared to Grovenor's $427,843. So if you want a place in Edmonton's second best neighbourhood (rated by Edmonton Avenue readers), but can't afford the high price, Grovenor is a good option.
Enjoyed the article? Have some input? If so, let me know by leaving a comment below. Also, if you have any questions about these neighbourhoods, please give me a call at 780-438-2500 or email me at email@example.com. I'm also on Facebook and Twitter, so feel free to follow me if you would like to stay up-to-date with everything related to real estate in Edmonton.