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.
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 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.