West home prices tower over East
March 20, 2018
It’s nearly 4,000 miles from Vancouver to Moncton, but as far as home prices ago it is light years in distance.
The Canadian Real Estate Association reports the benchmark price for a Canadian home was $609,700 in February 2018, but the data shows that there is a cavernous west-east price gap in the country.
Benchmark urban home prices now range from a low of $174,800 in Moncton to $1.07 million in Metro Vancouver. The city closest to the Canadian-wide benchmark is Greater Victoria, with a typical home price of $642,800.
Three cities have homes priced below the national benchmark: Regina, at $278,700; Saskatoon, at $292,800 and, of course, Moncton.
Both Ottawa and Montreal are in the middle-range, with benchmark home prices in the $370,000 range.
Greater Toronto at a benchmark of $751,700 and Oakville-Milton at $719,600 are the only centres outside of B.C. that come close to Metro Vancouver prices.