Housing prices have continued on their downward plunge amid Bank of Canada interest rate hikes and fears over a potential looming recession, but the effect isn’t being felt evenly across the country.

The latest numbers from the Canadian Real Estate Association (CREA) show that the average price of a home in Canada was $637,673 in August 2022, down 3.9 per cent from the same month last year.

But according to the CREA’s Home Price Index, some regions have only recorded small dips, if at all, while home prices in others are in complete free-fall.