{"id":24187,"date":"2023-09-25T05:00:00","date_gmt":"2023-09-25T09:00:00","guid":{"rendered":"https:\/\/www.zoocasa.com\/blog\/?p=24187"},"modified":"2023-10-03T13:05:01","modified_gmt":"2023-10-03T17:05:01","slug":"east-coast-over-five-years-canada","status":"publish","type":"post","link":"https:\/\/www.zoocasa.com\/blog\/east-coast-over-five-years-canada\/","title":{"rendered":"The East Coast Advantage: A Five-Year Analysis of Affordable Real Estate Trends in Canada&#8217;s Eastern Provinces"},"content":{"rendered":"\n<p>Affordability has rapidly changed across Canada as home prices and interest rates continue to rise. The benchmark price of a home in the country is now $750,100 according to the Canadian Real Estate Association, making home buying a more strenuous experience than it already was.<\/p>\n\n\n\n<p>This increase in prices across the country means the desire for affordability is higher than ever. And for anyone looking for an affordable home, they\u2019re likely to end up looking east. Alongside the Prairies, the East Coast is vastly more affordable than Canada\u2019s two most expensive provinces, <a href=\"https:\/\/www.zoocasa.com\/british-columbia-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">British Columbia<\/a> and <a href=\"https:\/\/www.zoocasa.com\/ontario-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Ontario<\/a>. While those two have seen enormous growth in the last five years with average home prices now over $1,000,000, the highest benchmark price you\u2019ll find on the east coast is $530,900, in <a href=\"https:\/\/www.zoocasa.com\/halifax-ns-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Halifax-Dartmouth<\/a>.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Read: <\/strong><a href=\"https:\/\/www.zoocasa.com\/blog\/housing-affordability-change-2018-vs-2023-canada\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Fewer Houses, Higher Prices: How Has Housing Affordability in Canada Evolved in the Last Five Years?<\/strong><\/a><\/li>\n<\/ul>\n\n\n\n<p>To learn how the East Coast has changed over the last half-decade, Zoocasa analyzed data for the last five years in the Maritimes and Newfoundland and Labrador and compared them to today\u2019s prices to understand how they&#8217;ve changed.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"600\" height=\"898\" src=\"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/09\/Housing-affordability-18-23-6.png\" alt=\"\" class=\"wp-image-24188\" srcset=\"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/09\/Housing-affordability-18-23-6.png 600w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/09\/Housing-affordability-18-23-6-201x300.png 201w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/09\/Housing-affordability-18-23-6-684x1024.png 684w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/09\/Housing-affordability-18-23-6-768x1149.png 768w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/09\/Housing-affordability-18-23-6-1027x1536.png 1027w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/09\/Housing-affordability-18-23-6-1369x2048.png 1369w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">Sustaining Affordability through Steady Growth<\/h2>\n\n\n\n<p>While some cities in&nbsp;Canada have had home price growth of well over $300,000 in the last five years, the East Coast has seen more manageable increases. The largest price increase came in Halifax-Dartmouth, where the benchmark home price has increased by $247,500 since August 2018. It\u2019s the only area on our list that breached the $200,000 threshold. On a provincial level, <a href=\"https:\/\/www.zoocasa.com\/newfoundland-and-labrador-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Nova Scotia<\/a> has had the second-highest growth on our list, likely partly owed to its booming capital city, with a $182,900 increase in benchmark price in the last five years. The smallest increase came in <a href=\"https:\/\/www.zoocasa.com\/newfoundland-and-labrador-real-estate\">Newfoundland and Labrador,<\/a> where the composite benchmark price only grew by $48,500.<\/p>\n\n\n\n<p>Those looking at the most affordable province or city to buy in will find themselves looking at <a href=\"https:\/\/www.zoocasa.com\/new-brunswick-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">New Brunswick<\/a>. It\u2019s the most affordable province on the list, with a benchmark home price of $293,800, having grown by over $130,000 in the last year. <a href=\"https:\/\/www.zoocasa.com\/fredericton-nb-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Fredericton<\/a> is also the most affordable city on our list, with a home price of $290,700.&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Read: <\/strong><a href=\"https:\/\/www.zoocasa.com\/blog\/how-much-equity-youve-built-in-5-years\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Bought Your Home Five Years Ago? Here\u2019s How Much Equity You\u2019ve Built<\/strong><\/a><\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Affordability Varies Across the East Coast Depending on the Property Type<\/h2>\n\n\n\n<p>New Brunswick is the place to go if you\u2019re looking for a single-family or townhouse property. The benchmark price of a single-family home has grown $130,300 in price in the last five years to $294,800, while townhouses have grown from $116,800 to $251,000. Despite Newfoundland and Labrador having smaller growth in both property types, with an increase of just $49,800 for single-family homes and $35,300 for townhouses, New Brunswick remains the most affordable.<\/p>\n\n\n\n<p><strong><em>Enjoying our content? Subscribe to our free <\/em><\/strong><a href=\"http:\/\/zoocasa.com\/newsletter\" target=\"_blank\" rel=\"noreferrer noopener\"><strong><em>weekly newsletter<\/em><\/strong><\/a><strong><em> to get real estate market insights, news, and reports straight to your inbox.<\/em><\/strong><\/p>\n\n\n\n<p>Condo apartments, however, are most affordable in Newfoundland, having seen minuscule growth in the last five years. Condo prices have only grown by $20,700 in the last five years in the province, nearly $100,000 less than New Brunswick and $194,000 less than Nova Scotia. A condo apartment in Newfoundland costs $224,100, $44,000 cheaper than one in New Brunswick.<\/p>\n\n\n\n<p>If you\u2019re looking to buy or sell on the East Coast, we\u2019re here to help. <a href=\"https:\/\/www.zoocasa.com\/buy-with-zoocasa\" target=\"_blank\" rel=\"noreferrer noopener\">Give us a call today<\/a>.&nbsp; Our experienced real estate agents will help you navigate the market to find the right home for you. &nbsp;<\/p>\n\n\n<div class=\"cta\">\n<div class=\"cta-left\">\n<div class=\"cta-title\">Considering a move this fall?<\/div>\n<div class=\"cta-body\">Contact us today to speak to a Realtor in your area<\/div>\n<\/div>\n<div class=\"cta-right\"><a href=\"https:\/\/www.zoocasa.com\/sell-with-zoocasa\"><button class=\"cta-button\">Talk To Our Experts<\/button><\/a><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Affordability has rapidly changed across Canada as home prices and interest rates continue to rise. The benchmark price of a home in the country is now $750,100 according to the Canadian Real Estate Association, making home buying a more strenuous experience than it already was. This increase in prices across the country means the desire [&hellip;]<\/p>\n","protected":false},"author":119,"featured_media":24192,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":{"subtitle":"","format":"standard","video":"","gallery":"","source_name":"","source_url":"","via_name":"","via_url":"","override_template":"0","override":[{"template":"1","single_blog_custom":"","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_share_counter":"0","show_view_counter":"0","show_featured":"1","show_post_meta":"1","show_post_author":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_category":"1","show_post_reading_time":"1","post_reading_time_wpm":"300","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"0","show_prev_next_post":"1","show_popup_post":"0","number_popup_post":"1","show_author_box":"1","show_post_related":"1","show_inline_post_related":"0"}],"override_image_size":"0","image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post":"0","trending_post_position":"meta","trending_post_label":"Trending","sponsored_post":"0","sponsored_post_label":"Sponsored by","sponsored_post_name":"","sponsored_post_url":"","sponsored_post_logo_enable":"0","sponsored_post_logo":"","sponsored_post_desc":"","disable_ad":"0"},"jnews_primary_category":{"id":"","hide":""},"footnotes":""},"categories":[58,1111],"tags":[],"class_list":["post-24187","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-affordability","category-canada"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The East Coast Advantage: A Five-Year Analysis of Affordable Real Estate Trends in Canada&#039;s Eastern Provinces | Zoocasa Blog<\/title>\n<meta name=\"description\" content=\"Canada&#039;s affordability has changed rapidly in the last few years, with home prices sky rocketing. Along the reast coast, affordability has changed, but it&#039;s still a more affordable part of the country. Take a look at how much home prices have changed in the maritimes in the last five years.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zoocasa.com\/blog\/east-coast-over-five-years-canada\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The East Coast Advantage: A Five-Year Analysis of Affordable Real Estate Trends in Canada&#039;s Eastern Provinces | Zoocasa Blog\" \/>\n<meta property=\"og:description\" content=\"Canada&#039;s affordability has changed rapidly in the last few years, with home prices sky rocketing. Along the reast coast, affordability has changed, but it&#039;s still a more affordable part of the country. 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