4 Reasons why Peterborough Real Estate is so Sought After among Canadians
Wednesday Sep 05th, 2018
Peterborough real estate prices are up, bidding wars are on, and annual real estate values continue to grow in some big ways. This year’s average Peterborough home price is approximately $433,000 which is a notable 7 percent increase over 2017’s numbers. Like other regions, Peterborough has also seen a cool-down due to new provincial regulations however even so, its numbers continue to deliver. Why Peterborough is so sought after by Canadians across the province is not hard to nail down.
An absolutely beautiful location
Peterborough boasts an exquisite location. If you’re looking to live in an aesthetically gorgeous place, Peterborough has more than enough to look forward to. The Otonabee River is right there, there’s a lot of wildlife within twenty minutes’ drive of the City, and the Kawartha Lakes cottage country is readily accessible. Also, Toronto is only 150 kilometres away northeast and Ottawa sits approximately 270 kilometres southwest. That makes Peterborough the ideal location for someone looking to get to both cities semi-regularly or with family nearby.
Supply is low and demand is high
For young professionals, parents, new families, and seniors seeking a place to come and live, Peterborough has many accommodating amenities. As a financial move, it’s also a very smart investment. Peterborough real estate supply is very low right now, while demand has not changed. That has meant an increase in real estate value for homeowners in Peterborough. The opportunity to buy and trade up a few years down the line is an opportunity.
It’s a great place to retire to
Peterborough is consistently voted one of the best places to retire to in all of Ontario. There’s many reasons for this. The city’s industrial past with major manufacturing industries located here have largely gone away, making it a comfortable, quiet, and aging place. A lot of the employment here has subsequently shifted towards customer service and tourism. Peterborough’s infrastructure is strong, the atmosphere is welcoming, and quality of life is high.
The Peterborough region has more affordable living than many of its Ontario city counterparts, no doubt part of the reason why it’s attractive to so many seniors and families looking to settle down some place quiet. In terms of real estate, the buy-in for the average Peterborough home is less than half of what one would spend in a market like Toronto. For accessibility to Toronto and Ottawa, in addition to its low property buy-in and strong growth rate, Peterborough is well known. Also, Peterborough is on the verge of a massive growth spurt as the 407 provincial highway is set to be completed by 2020, connecting residents with better access to the 115/35.
These are 4 reasons why Peterborough real estate is getting a good look by many Canadians looking to make a move. Peterborough has lots to offer in the form of museums, cultural exhibitions, galleries, historical sites, and a healthy arts community. For anyone seeking a good investment property or a home to call their own, Peterborough is a great place to live with a lot in the pipeline that’s sure to sweeten the deal!
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