PEI

Housing market hot on P.E.I.

Low interest rates mean plenty of business for real estate agents, and more money for people selling a house. The Island is coming off one of the healthiest years ever with housing prices up in every sector.

Low interest rates mean plenty of business for real estate agents, and more money for people selling a house. The Island is coming off one of the healthiest years ever with housing prices up in every sector.

According to figures from Royal LePage, the average price for a bungalow was $115 thousand up nearly three per cent from 2000. Two storey homes increased in price by 2.3 per cent to $135 thousand and condominium prices averaged $85,000 and increase of 6.3 per cent.

"The interest rates are exceptional, if not the best they've probably ever been," says Ken Peters of Peters & Lank Realty. "We feel that will remain into 2002."

Peters says his office is also receiving a lot of calls from people who are interested in moving to Prince Edward Island.

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