Median house prices in Prince Edward Island 2018-2020
The median house price in the Canadian province of Prince Edward Island is expected to grow to 248,200 Canadian dollars in 2020, up from 212,100 in 2018.
House prices in Canada
Prince Edward Island is one of the most affordable Canadian provinces for buying a house, with prices projected to be 270,900 Canadian dollars below the national median in 2020. The national figure is somewhat skewed however by the extremely high cost of housing in British Colombia, and, to a lesser extent, Ontario. A better measure of affordability is the provincial house-price-to-income ratio, which shows Prince Edward Island to be the second most affordable province.
Global comparison
As of early 2018, Canada was the most expensive country in the OECD in terms of house-price-to-income ratio. With a normalized ratio of 119.44, Canada scored over ten points higher than the United States, and over 25 points higher than countries such as Italy and Korea. This has not always been the case though, with Canada’s price to income ratio growing by over 20 points since 2015.
House prices in Canada
Prince Edward Island is one of the most affordable Canadian provinces for buying a house, with prices projected to be 270,900 Canadian dollars below the national median in 2020. The national figure is somewhat skewed however by the extremely high cost of housing in British Colombia, and, to a lesser extent, Ontario. A better measure of affordability is the provincial house-price-to-income ratio, which shows Prince Edward Island to be the second most affordable province.
Global comparison
As of early 2018, Canada was the most expensive country in the OECD in terms of house-price-to-income ratio. With a normalized ratio of 119.44, Canada scored over ten points higher than the United States, and over 25 points higher than countries such as Italy and Korea. This has not always been the case though, with Canada’s price to income ratio growing by over 20 points since 2015.
