Real estate prices across the country have been on a tear with MLS Home Price Index benchmark prices up nationally by 13.9 per cent year over year in September, according to the Canadian Real Estate Association (CREA).
Vancouver Island, Chilliwack, New Brunswick, Moncton and 17 Ontario real estate boards, including Toronto, saw one-year price increases of more than 30 per cent. There were 15 Ontario real estate boards with price increases of more than 100 per cent over the past five years, with Bancroft taking the prize with a 164.5 per cent price difference from five years ago.
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