Some buyers coming from areas like Toronto start out to buy in the County, while other “comparison shop” between different rural areas, looking at things like house values and amenities. So how do Prince Edward County prices compare to other rural areas?
In this article, average house prices in the County are compared with five other regions that are often considered by potential buyers: Muskoka, Niagara, Perth (Stratford), Northumberland and the Kawarthas. In each case, the average prices shown reflect prices in the region including both cities and rural areas.
The Muskoka area is widely perceived as pricey which turns out to be accurate when compared to Prince Edward County. During the last five years average house prices in the Muskoka region (including Bracebridge, Georgian Bay, Gravenhurst, Huntsville, Lake of Bays and Muskoka Lakes) have been between 20% and 33% higher than in the County.
Looking East from Toronto
Buyers from the east end of Toronto naturally tend to look toward the east when considering a rural move.
Many buyers looking in the County have also considered areas like Northumberland (including Alnwick/Haldimand, Brighton, Clarington, Cobourg, Cramahe, Port Hope, Quinte West, and Trent Hills) and the Kawarthas (Peterborough and the Kawatha Lakes).
Over the last five years, the average house prices in both regions have run 10-15% less than Prince Edward County.
Looking West from Toronto
Looking westward from Toronto, average prices in the Niagara region (Niagara-on-the-Lake, Niagara Falls, Fort Erie, St. Catharines, Thorold, Fonthill/Pelham, West Lincoln, Grimsby, Welland, Port Colborne / Wainfleet and Lincoln) and Perth County (Stratford, St. Marys, North Perth, Perth East, Perth South and West Perth) areas have also run 10-15% less than Prince Edward County.
It may look like the Niagara area offers superior value, but the area includes not just the high profile village of Niagara-on-the-Lake, but also the surrounding rural and industrial communities which present a different picture.
When Niagara-on-the-Lake on its own is singled out, the average house prices in the County look extremely attractive by comparison.
Conclusion: Focus on Value, Not Just Price
Average prices alone don’t tell the full story. Value is “what you get” divided by “what you pay”. This article only shows the “what you pay” part.
To make informed comparisons about value, the attributes that make up “what you get” need to be factored in. Different people have different things which they are looking for, but these attributes including things like landscape, proximity to Toronto, quality of healthcare and schools, local food & wine, social & cultural activities, etc.
When these are kinds of things are included, the County looks very favourable by comparison with the other options for rural living.