East vs West: Home prices show stark contrast between West Coast and Eastern Canada

It’s more than 4,000 kilometres from Vancouver to New Brunswick, but as far as house prices go, it is light years in distance.

The benchmark price for a Canadian home was $609,700 in February, reports the Canadian Real Estate Association, but the data shows that there is a cavernous west-east price gap in the country.

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Benchmark urban home prices now range from a low of $174,800 in Moncton, New Brunswick to the current $1.08 million in Metro Vancouver (updated with March 2018 figures; for comparison with other data, it was $1.07 million in February). The city closest to the Canadian-wide benchmark in February was Greater Victoria, with a typical home price of $642,800.

Three-bedroom house in Rogersville, New Brunswick, listed in March at $44,900 | Capital Realty/ Keller Williams

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 the Metro Vancouver prices.

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