Where to buy real estate in Peterborough in 2019 - MoneySense

Where to Buy Real Estate 2019: Peterborough, Ont.

Urban dwellers will want to check out Peterborough Central—our top neighbourhood pick in this Ontario city.

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It’s hard to pin down the features that make up a desirable neighbourhood. Some buyers want easy accessibility to the downtown core, while others prioritize privacy and a more rural setting. No matter what tops the list for any one person, the ultimate equalizer is whether or not the property is well-valued and offers future appreciation.

When we examined the neighbourhoods that make up the City of Peterborough and the surrounding counties, we found options that would satisfy both urban dwellers and privacy lovers seeking a cottage-like retreat. 

Top Neighbourhoods

Click Tap column headings to re-rank neighbourhoods. Click Tap on any neighbourhood name to learn more about it.

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Rank Neighbourhood Area Average home price (2017) Value Momentum Average price vs. area Avg. price vs. metro district Avg. price vs. outer region 1-year price change 5-year price change Final Star Rating
1 Peterborough Central Peterborough City $345,973 95.45% 88.07% 86.60% 90.59% 78.16% 14.52% 60.67% ★★★★
2 Asphodel-Norwood Twp County $368,402 97.73% 70.45% 83.23% 76.97% 83.23% 10.40% 54.01% ★★★★
3 Peterborough South Peterborough City $347,051 93.18% 82.39% 86.87% 89.92% 78.40% 7.58% 67.33% ★★★★
4 Peterborough East Peterborough City $398,632 79.55% 86.36% 99.78% 98.48% 90.05% 8.75% 61.09% ★★★★
5 2 South Peterborough City $380,730 86.36% 67.05% 95.30% 98.64% 86.01% 8.65% 59.71% ★★★½
6 2 Central Peterborough City $379,008 90.91% 74.43% 94.87% 99.24% 85.62% 8.03% 60.61% ★★★½
7 1 South Peterborough City $397,119 81.82% 67.61% 99.40% 102.89% 89.71% 9.59% 59.78% ★★★½
8 2 North Peterborough City $395,561 84.09% 75.57% 99.01% 97.89% 89.36% 8.94% 60.60% ★★★½
9 4 Central Peterborough City $402,632 70.45% 78.98% 100.78% 105.43% 90.96% 9.09% 60.38% ★★★½
10 4 South Peterborough City $401,978 75.00% 65.91% 100.62% 104.15% 90.81% 8.75% 60.00% ★★★½
11 Peterborough North Peterborough City $406,633 59.09% 80.11% 101.78% 100.64% 91.86% 5.80% 63.40% ★★★½
12 3 South Peterborough City $402,948 68.18% 65.91% 100.86% 104.40% 91.03% 7.91% 60.08% ★★★½
13 3 Old West End Peterborough City $418,556 52.27% 73.30% 104.77% 96.68% 94.56% 8.33% 60.11% ★★★½
14 5 West Peterborough City $404,959 63.64% 66.48% 101.36% 93.54% 91.48% 9.20% 59.62% ★★★½
15 1 Central Peterborough City $399,990 77.27% 64.20% 100.12% 104.74% 90.36% 9.60% 58.66% ★★★½
16 5 East Peterborough City $410,972 54.55% 78.98% 102.87% 101.52% 92.84% 8.97% 60.22% ★★★½
17 4 North Peterborough City $403,086 65.91% 53.98% 100.89% 99.76% 91.06% 8.62% 58.54% ★★★
18 3 North Peterborough City $410,796 56.82% 71.59% 102.82% 101.67% 92.80% 8.04% 60.20% ★★★
19 1 University Heights Peterborough City $402,442 72.73% 59.09% 100.73% 99.60% 90.92% 9.71% 58.13% ★★★
20 1 North Peterborough City $405,885 61.36% 63.07% 101.60% 100.45% 91.69% 9.27% 59.30% ★★★
21 Otonabee-South Monaghan Twp County $419,986 88.64% 40.91% 94.88% 87.75% 94.88% -1.19% 58.86% ★★★
22 Havelock-Belmont-Methuen Twp County $325,934 100.00% 3.98% 73.63% 68.10% 73.63% 1.06% 16.53% ★★★
23 Douro Dummer Twp County $592,076 2.27% 97.73% 133.76% 123.71% 133.76% 10.02% 70.71% ★★★
24 Cavan Monaghan Twp County $525,903 9.09% 71.59% 118.81% 109.88% 118.81% -4.24% 62.94% ★★½
25 Peterborough West Peterborough City $475,261 6.82% 74.43% 118.96% 109.78% 107.37% 9.07% 59.82% ★★½
26 Selwyn Township County $529,530 4.55% 74.43% 119.63% 110.64% 119.63% 12.10% 60.22% ★★½
27 Millbrook Village County $479,591 43.18% 19.89% 108.34% 100.21% 108.34% 5.85% 50.93% ★★½
28 Douro Township County $478,448 45.45% 29.55% 108.09% 99.97% 108.09% 5.80% 51.57% ★★½
29 Chandos Township County $484,526 29.55% 38.07% 109.46% 101.24% 109.46% 6.65% 52.84% ★★½
30 BurleighAnstruther Township County $484,415 31.82% 37.50% 109.43% 101.21% 109.43% 5.39% 53.56% ★★
31 GalwayCavendish Township County $483,031 34.09% 29.55% 109.12% 100.92% 109.12% 5.50% 52.00% ★★
32 Lakefield Village County $465,535 50.00% 8.52% 105.17% 97.27% 105.17% 2.47% 48.65% ★★
33 Cavan Twp County $485,757 25.00% 30.68% 109.74% 101.49% 109.74% 5.63% 52.70% ★★
34 Dummer Township County $480,963 38.64% 14.77% 108.65% 100.49% 108.65% 3.83% 50.94% ★★
35 Harvey Township County $482,928 36.36% 27.84% 109.10% 100.90% 109.10% 3.95% 52.93% ★★
36 Belmont-Methuen County $493,743 15.91% 42.61% 111.54% 103.16% 111.54% 5.72% 55.15% ★★
37 Havelock Village County $495,548 13.64% 31.82% 111.95% 103.54% 111.95% 4.36% 53.27% ★★
38 North Monaghan (Twp) County $480,521 40.91% 23.86% 108.55% 100.40% 108.55% 6.04% 51.16% ★★
39 Ennismore Township County $473,697 47.73% 10.80% 107.01% 98.97% 107.01% 2.81% 49.65% ★★
40 Asphodel Township County $487,923 20.45% 34.09% 110.23% 101.95% 110.23% 4.65% 53.32% ★★
41 Otonabee Township County $485,080 27.27% 22.73% 109.58% 101.35% 109.58% 4.87% 51.37% ★★
42 Trent Lakes (Muni) County $502,654 11.36% 30.11% 113.55% 105.02% 113.55% 7.93% 51.53% ★★
43 Norwood County $487,663 22.73% 17.05% 110.17% 101.89% 110.17% 4.66% 51.22% ★★
44 North Kawartha Twp County $492,726 18.18% 3.98% 111.31% 102.95% 111.31% -12.64% 36.27% ★½
Value
Measures how affordable the neighbourhood is compared to the surrounding area and the region overall
Momentum
Measures how quickly prices are appreciating in this neighbourhood, with an emphasis on long term appreciation

For more, please see our complete methodology

Peterborough’s top 3 neighbourhoods to buy

1. Peterborough Central

Urban dwellers will want to check out this year’s No. 1 community, Peterborough Central. This neighbourhood is within easy walking distance of all amenities and, for those who work downtown, the commute is super easy. Better still, average house prices are 14.4% cheaper than surrounding communities, and just over 9% cheaper than average home prices in the Greater Peterborough Area. The last five years have seen prices appreciate by 61%—and there’s still room to grow based on current value. So it’s a great buy.

2. Asphodel-Norwood

If you’re looking for a bit more privacy, consider this year’s No. 2-ranked neighbourhood, located east of Peterborough. The township of Asphodel-Norwood offers the best of rural life with main streets, central churches and barn-board barns on large acreages, but within an easy 30-minute drive of the city. Average home prices here are 13% less than Greater Peterborough average rates, and house hunters get a large variety of properties to pick from, including turn-of-the-century farms, pond-side ranchers, and four-bedroom, two-bath family homes.

3. Peterborough South

If your family loves sports, live events or shopping, the No. 3-ranked neighbourhood might be the ideal place for you to to put down roots.

Peterborough South is home to the Memorial Centre, where the city’s Ontario Hockey League Team, the Peterborough Petes, play, as well as the Peterborough Lakers lacrosse team. Peterborough Memorial Centre also hosts major concerts and events (Snoop Dogg played there in the spring of 2019).

This neighbourhood is home to the city’s largest mall, the two-storey Landsdowne Place, where you can find the usual chain stores.

Property in this community gets snapped up pretty quickly, with homes lasting an average of 22 days on the market in 2018. And according to our statistics, the neighbourhood offers both good value and momentum, as well as better-than-average realtor scores. Average housing prices in Peterborough South are 10% cheaper than the average for the area, and more than 20% below the average housing price Greater Peterborough.