After a productive 2013, the outlook is positive for Prince Edward Island in 2014. With markets remaining stable and economic growth in the forecast, investors may soon be flocking to PEI for future purchases. Prince Edward Island is the smallest province in Canada with big things to happen in 2014.
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... the performance of its economy. In 2013, the province's economy saw some steady growth, and this trend is expected to continue in 2014. The GDP(gross domestic product) saw an increase of 1.7 percent, and that figure will likely see a slight increase going forward.
... checking in at $155,400, according to CMHC market data. They will remain at an affordable rate in 2014, increasing by 1% to $156,500.
... but not by a rate that would deter potential buyers. PEI saw 885 new housing starts in 2013, and 2014, the amount to drop to 870.
In 2014, this figure may fall to 1,550 making for a difference of only 25.
... from 2012-2013, but this rate will likely tail off as more buyers and tenants become active in the market.
... they should not be viewed as potential deterrents by interested buyers. The combination of lower short-term interest rates and affordable average property prices will ensure that no investors are marooned on this Island.
... but investors may be able to make some big-time deals if they play their cards right.
... who have bought waterfront and seasonal properties on PEI. We feel that with the dollar where it stands, is going to bring them back to PEI. We are looking forward to having them back and those that already have property here may look to invest more.