BUSINESS

What $390,000 Will Buy You Across The Country

11/30/2013 12:53 EST | Updated 11/30/2013 12:54 EST
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That old golden rule of real estate -- location, location, location -- is probably more true in Canada than just about anywhere else.

From frighteningly expensive Vancouver to the almost suspiciously affordable Trois-Rivieres, Que., this is a country with a multitude of very different housing markets.

Like the people in those cities, the housing markets are dealing with differing economic circumstances. Though it certainly does seem to be the case, at the moment, that an east-west divide has opened up.

Draw a vertical line through Ottawa, housing market analyst Ben Rabidoux recently tweeted -- everything east of that line is struggling, and everything west of that line is doing at least reasonably well.

That east-west divide becomes obvious when you compare how far your dollar will go in Canada's various housing markets. From a near-palace in Trois-Rivieres to a shack in Toronto, how far your real estate buck goes really does depend on location.

According to the Canadian Real Estate Association, the average price of an existing home sold in Canada in October was $391,820 -- an increase of 8.5 per cent over the past year. Here's what roughly that amount of money will buy you across the country.

What $390,000 Will Buy You Across Canada