Best Mortgage Rates In Prince Edward Island

Prince Edward Island proves to you why bigger is only sometimes better. As Canada’s smallest province, Prince Edward Island has many attractions and activities that draw people to move to the province. It has a population of 167,680, the least populated province (except Territories) in Canada.

The province is enjoying an influx of business and entrepreneurial acumen. These have helped modernize the province’s traditional agriculture, fisheries, and tourism sectors. It now boasts of new developments in bioscience and advanced manufacturing.

PEI population growth is one of the highest in the country. It has a 3.1% year-on-year population growth rate, ahead of Nova Scotia and Nunavut, which were 2.2% and 1.9%, respectively.

The province’s average house price currently sits at $390,000 as of CREA August 2022 data. PEI’s housing market is forecasted to have the largest decrease in the country. The house price is expected to fall 25% by December 2023 compared to 2019.