It is not unusual here to pay around $25.00 per metre for good quality fabric. The minimum you can get by with is around $12.95 per metre, unless you really get lucky with a sale table at around $4 to $6.00 per metre. Last week I managed to get some good fabric at $2.00 per fat quarter, but this isn't an everyday thing. I also collect vintage, and I think the term loosely seems to cover anything from the 80's back. Though 1975 back is for purists.
A yard is about 3 inches short of 1 metre - 1 metre is 1.09 yards.
Still, I understand how surprised you are....wish I was:)