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Survey of Canadian Average House Prices in the Third Quarter 2006

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发表于 2006-9-29 08:09 | 显示全部楼层 |阅读模式
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Canada's housing market both vigorous and stable : Z" z/ y9 ~7 a, a' c
" D/ b/ [( Q- K$ R3 B- o) T4 K8 {( W
- Country's market poised to show growth throughout 2006 -
& e' L' l' ?; r$ d& _: f, @, a' N& C
* J; m: `7 t2 j. z1 E    TORONTO, Sept. 28 /CNW/ - For most of Canada, the housing market
# \( B; K8 o* S, I8 I8 yexhibited moderate price increases and stable unit sales during the third
7 u% M3 K+ C( O; `8 E  W8 D6 N4 X$ J) Rquarter. Wide regional variances continued to be the dominant characteristic/ ?! C3 a$ g' Z( m& L
in the market, exemplified by frenzied levels of activity and double digit
* E+ H$ p7 X# i; j) d/ w" D& E5 ?price gains observed in the energy and commodity rich Western provinces, and% @4 v0 {; X3 U2 m  l# }( H
more reasonable sales volumes and moderate price appreciation in Ontario,
* @; T! m6 M$ t+ g$ g2 XQuebec and Atlantic Canada, according to a report released today by Royal/ E1 u# D' y( ?" N) t/ i/ ?
LePage Real Estate Services.' w. C6 a* s& ]# [  Z: b
9 U/ w( A* a* J$ \7 X6 U8 D0 p
    Nationally, market trends established through the first three quarters2 K1 Q( n% N2 x8 i' E
are forecast to continue for the remainder of the year. Robust economic
* {# a7 D9 ?- _! u( C% Nconditions, low unemployment rates, modestly growing salaries and wages, and, ~% _) U0 ?# O/ a' s7 E
sound consumer confidence contributed to the overall strength of the
9 {1 p$ w& r4 Hresidential real estate sector.
5 D, @& I* D4 D6 E: P
& E1 H. j, d9 h- x" @# q    Of the housing types surveyed, the highest average price appreciation
1 B8 e' h+ C% D# |# goccurred in detached bungalows, which rose to $300,365 (+16.3%)' W3 X+ S$ v% K+ X; \
year-over-year, followed by standard condominiums, which rose to $211,562" f1 x" f9 {! G  V
(+14.2%), and standard two-storey properties, which increased to $365,380
: F0 v) `1 B5 A$ R- j+ _(+13.2%).; ^4 b* s3 M4 y, L; d+ R( {

$ H$ F2 a" w  c3 ]* O& ]# ]. E4 F    "Canada's sturdy housing market continued to demonstrate steady growth
" I$ \" L7 n5 [8 B/ U" V! nduring the third quarter. For all but the west, we have moved on from the
& M, U/ W4 \" F5 ]( @" _. c1 efrenzied expansion that characterized the first half of this decade, and are
, Q! |( B: a" @5 k7 c& h  dpoised to show continued growth at a more moderate pace," said Phil Soper,
2 b) \1 Q1 I0 z, X1 `- m! f& {* spresident and chief executive officer, Royal LePage Real Estate Services.
8 ?/ Q% X# X9 R( }7 m( Q"Gone is the sellers' market that we have lived with for some years. We0 ?+ ~" l, ^3 v; ~/ E# k# \
welcome the more reliable conditions that are characteristic of a healthy
+ [; c! u- M6 D- P6 C1 Mbalanced market."/ `& F- v' U2 \  s

  k9 \% G" G$ u$ w: d: ~    Despite the double-digit rise in average national house prices,
% I2 ?' Z- N* G6 iconsiderable regional variances were exhibited again this quarter. The shift
# m) i1 s+ c8 p1 Sto balanced market conditions, which began in late 2005, has continued0 l1 J" a0 {5 X4 m
throughout most of the Central and Eastern regions of the country. In the core. F* k: S4 i! F4 g6 j+ ?
energy producing western provinces, the combination of very high in-migration,
5 o9 |* N$ _4 O9 _, kmanageable affordability, and a shortage of inventory has driven record6 H4 k1 v  O, B4 S/ D/ g) G
breaking price appreciations.4 A4 T" `6 k# B* t
8 ?: Y7 k9 }  A2 j" J9 c
    Echoing the second quarter and supported by Alberta's rapidly expanding# L; x# D8 j: Q9 N' Y$ O
economy, Calgary and Edmonton led the charge of Canadian cities with the
& Q2 m" z. b# }( o3 h4 Rlargest house price appreciation in all housing types surveyed.0 f' H  C  L2 ]

5 n9 F8 g$ |$ f7 Q    In Ottawa and Toronto, growth remained steady, supported by solid, Q6 t2 d' a& E# \7 Q5 F
economic fundamentals, an increase in available inventory and strong consumer( @+ {: I4 e  W% W! Z
confidence. While the pace of price appreciation in Ontario leveled off) Q  H% K; G' S! z
slightly, the province's real estate market remains poised for modest growth.4 j1 _2 F7 s8 P4 N
In Atlantic Canada, new housing and condominium construction offered buyers4 j/ N) x' y- r, y) J+ i6 f
greater selection at more competitive prices, resulting in a slower rate of
: A, z# t$ w) e8 pprice appreciation when compared with 2005." V; E! N2 Z: k) ~9 \$ S9 a8 c
* l' d/ Y& B3 h# p
    While the pace of growth in Canada has slowed, the domestic housing7 Q( {" `3 i$ k. y$ m
market is expected to outperform the American market. The economic and
3 i/ s0 W- ^  }  l5 _financial fundamentals driving the residential real estate sector in Canada; r3 ]: b% o3 Q5 o  K' k0 |
are markedly different than those found in the United States.( h5 m. a2 W9 x* R  v3 I) O
5 G( i6 ^& V! N  m' `- E
    Added Soper: "Canada's housing market is likely to outperform the
4 n$ v4 a. c) ^# M# }- XAmerican market through 2007. A number of factors are working in Canada's
7 n( J: X6 F4 p( z0 \favour, including healthy personal and governmental debt levels, the& a/ W" q+ @8 @/ O  n
relatively modest rise in interest rates in our country, and general5 K9 \' Z6 R. t: r  M* b: ~
affordability in our major cities. In addition, Americans are now seeing the5 F) J6 {, M$ ~& b: C# {: J5 n2 h
downside of a tax system that encourages maximum homeowner leverage, and
. v" A0 [0 d4 @) M+ Vaggressive financial products such as zero- and negative-amortization* L1 }7 c) V# ?& y
mortgages that work only in a high price growth environment."
7 L* d7 Y( V+ H8 l" _  F
: t# a4 G# ^/ a    <<; w& F; `2 g& ?4 q  O0 H
                             REGIONAL SUMMARIES2 ?7 S' A5 A6 @6 S0 s: h+ q$ _: L" A
    >>% v7 x% R: d: \2 S& W& f9 d

9 H* ?6 z, w% W, D" l( E    Balanced conditions continued to characterize the housing market in7 k( Z8 j4 I0 ]/ r$ i  F; a' q% f
Halifax, as significantly higher inventory levels helped to moderate the rate2 V# C. x4 A# }7 p' x5 v
of price appreciation. Buyers were increasingly choosy, taking more time
+ `1 m& f- v, u0 Z* E' Mlooking for newer, low-maintenance properties that were not in need of
2 r7 @3 t% G6 X/ a% trenovations.# x) z* s( q5 n0 A/ A) S
; s7 ^* E* t: y3 x0 A
    The housing market in Moncton remained healthy and strong as a slight
) K' A) V$ a2 M' d: k, V" M* k7 Dincrease in inventory helped to moderate the rate of price appreciation
0 O1 V! P5 b) I4 \compared to the same period in 2005. Activity was brisk throughout August and
( C! b; p# J  [/ \; J2 Q; rSeptember and is expected to remain this way through the fourth quarter.5 E- {& K7 g% x( @% G

1 f$ [8 _# N, X; e2 [! K5 l    The housing market in Saint John underwent its traditional summer1 V& G, Z- Q) ]0 u/ @9 v+ n
slowdown in the third quarter, with activity picking up towards the end of the+ D- L% L8 o- p
quarter. The local economy continued to thrive, as construction on a new* Y4 P$ b- x" Q$ d: R: J- A
600,000 square-foot shopping area has begun, bringing several new box stores) G1 u# ?: D9 W+ Z8 U7 q
to the area. Buyers have begun seeking less expensive fixtures for their homes" {2 v) Z/ X- X% V7 d
and are instead opting for more affordable housing options.& V& K5 F6 `4 w# g8 s4 a

2 E' w% C7 y2 d) m- |    In Charlottetown, the housing market started to move towards balanced5 j) f- _0 V, s
conditions, as some sellers had to begin to lower the asking prices on their8 `6 M! C$ Q, g) I* H
homes to make them more competitive. Activity from out-of-town and US buyers9 i$ F* V9 e1 G
was down slightly compared to 2005, likely attributable to the strong Canadian; M9 C  v0 C! K& h
dollar. Inventory levels began to creep up in the third quarter, providing/ E2 _, h9 z0 r# v* \* {
buyers with more options when looking for a home.$ D* c% o4 d, r% A+ l, A0 M- b

% z0 }+ [" P" ?    Activity in St. John's slowed slightly in the third quarter, particularly
, [* O. S( I% {! c7 ~3 uamong higher-priced properties, where there was a slight over-supply of homes' e' ]$ U: ?& Z6 ~" k2 F8 c
priced over $200,000. Listing periods have increased when compared with 2005,
8 E: G) i3 V6 U6 A, Z0 \9 _as some of the pent-up demand that had characterized the market over the last
6 M9 E$ G& U9 i1 Jfew years has been satisfied, resulting in more normal, balanced conditions.+ [( P  B: s3 K2 _) Q
8 A- l( Y3 C- ]% c
    Montreal's housing market recorded modest increases in average house2 X) p1 f. Z# a: N/ H
prices, due to a slight seasonal slowdown in the third quarter as inventory
: M/ R. H6 ~6 I) L) P- g. b6 alevels rose. Part of this can be attributed to the fact that many renting! w; _- `0 z% }. T; E# E% c
first-time buyers were motivated to close on the purchase of a home by July 1,
9 Y+ m+ G3 @0 b, Dwhen rental leases expire in Quebec. Once this date has passed some of the/ A8 c9 ^+ K: D
pressure is taken off the market, allowing buyers to visit more homes before5 S  ]6 j4 K9 M3 D8 r
making a purchase.
/ i- m$ b! m5 m2 D( w7 m8 Y
8 V6 K: f, R2 @0 K    Ottawa held its position as one of the country's most stable housing
, q- g; E: v8 O4 U0 H0 e3 J. D, T/ qmarkets in the third quarter, reinforced by a vibrant local economy and strong
' D, o% e, x* L, k  q! C1 Aconfidence, resulting in modest increases in average house prices. The city0 L* x$ }! u9 V! w" Y' M+ }2 K% m
centre remained a bright spot in Ottawa, with homes in this area attracting
( S: x  ]( X# _  o' y) O- Lattention due to their convenient location and proximity to downtown
9 N  u, `9 V1 l' _. y1 Y& g- kamenities.
0 P) T" G/ F. D. l: _& p" R9 N) ~( Q0 J( F) n) g$ s
    The housing market in Toronto sustained healthy activity levels. Z" k6 u+ s5 h! H
throughout the third quarter, as a strong economy helped to maintain demand
5 j  a' G, a8 E4 Qacross the city, causing average house prices to rise moderately. Toronto has
. m5 Q$ s. }$ R! X7 H" Wcontinued to experience modest growth in average house prices, and has been2 E2 c4 M& H0 f1 k$ E; ^& c
driven primarily by purchasers who are buying homes as their principle
# z# i, Y% D. E2 tresidence, rather than for investment.& [( g. r/ u  V

/ L8 n) u# s- B8 \7 ]4 u9 V    The vibrant Winnipeg housing market continued to show its strength as
* Q9 K7 h3 R$ n, nhouse prices rose during the third quarter. The booming local economy resulted
% b3 _# a, r) b( P9 y% ~9 b1 jin a historically low unemployment rate, helping to bolster consumer
0 u3 W* P  J+ q4 v0 F; [confidence and Winnipeg's ranking as the city with the lowest capitalization- @: d5 h6 P0 f1 e5 r% U; F
rate among the country's larger cities - helped to encourage buyers to enter! B! g% `2 h3 @. `
the market.
& H, C8 g( p" {" H( z4 Z) D+ v% r  `% J, o4 `5 J8 v
    In Regina, the market experienced a slight seasonal slowdown through8 k+ g# S+ @; P+ ]2 O  c2 k' y" h! N( _
July, as there were fewer purchasers in the market due to summer vacations. In; O' J/ R0 b0 \/ r6 Y
August, activity resumed to the busy pace previously seen in the spring" N, S) R' i$ Q8 ^# ?& b: K! O
months, as the influx of purchasers made it more difficult to find a home due. b6 f7 X3 c% X* B; [# @1 j+ ^
to the shortage of available inventory.
8 v# D( _( e7 j  ?; h
8 Y' G: p0 Z" X, t7 G& o/ Z; v1 I    Activity in Saskatoon remained brisk as the market maintained its9 Y) ]( V4 T0 p9 o$ P* G: y' m
momentum from the busy spring sales period. The economy in Saskatoon remains: _+ ~- u- B% ~" I
vibrant, as employment opportunities are abundant with many businesses
  [) ~% |( Z, H$ Z3 E( }( J. [1 x$ {* _1 Lstruggling to make hires and having to recruit outside the province.3 j5 o( {& [3 m7 \2 Y) T
$ D/ c5 f9 E- C' d# ^
    Calgary's housing market recorded blazing average house price increases1 t% U( Z7 h0 |% C% \
in the third quarter, in all surveyed categories. The burgeoning economy, low
+ P6 s8 A2 C/ E8 p4 l- ]unemployment rates and low inventory levels remained the leading factors that) f( G* s) E. `- ?& U5 y' t
pressured Calgary's house prices upwards. However, regardless of the soaring
/ G* {# e* |0 j5 f# |' I- Vprices that characterized the market - even during the typically slower summer
3 l. ^# a* g9 f7 \season - it is expected that activity will become slightly more balanced, as
- s+ A" i6 n; `8 vbuyers are becoming more reluctant to participate in the frenetic activity.
2 f" T' O1 Q, ?) s6 Q5 {* B

8 [1 R$ p& A' v: Z4 k( U0 U: t* i    Edmonton's booming local economy continued to thrive in the third quarter' h1 L0 j. `% V; O2 k' C7 R4 j
as activity in the oil sands north of the city continued to flourish. Edmonton" {1 I) j+ l% s- _; x3 x' Z+ ?& O
remained the hub of activity for those coming to work in the oil industry,7 r- d; |6 u+ \/ s0 k
maintaining tight inventory levels across the city, resulting in prices6 S/ U9 }# W! T) y* [
increasing at record levels. However, as inventory levels continued to improve1 |) O7 y3 G% ?( N" d3 O. n( S2 }
in the third quarter the rate of price appreciation should moderate slightly
' Y: h: _" E* b7 Ytowards the end of 2006.
   
/ `. j3 s. v4 ^: ]( ^6 y3 X$ G. H" N& A* C. u, h
While Vancouver has seen a slight reprieve from the severe shortage of
- y. P7 y# F" \4 ~inventory that had previously characterized the market, supply is still unable
5 u: n, I5 g9 Oto meet demand, driving house prices upwards. Vancouver has a very diverse
1 x) F! O& X0 P+ \  D1 n8 Pgroup of active buyers - from first-time home buyers to baby-boomers to
* W! F! J& P  c0 ~; U. Sforeign investors - all of whom fuel the demand for houses, placing added9 V& B8 d, F* }( ^* C6 `! W
pressure on tight inventory levels.
4 J0 X& q' ~5 ?+ p  {4 j+ K% A/ Y4 W5 n+ J% W
    Victoria's market is vibrant and supported by strong economic
: O: @( Z$ ^$ T  q* y4 ^* f2 p- wfundamentals, fuelled by a booming tech sector and a migration of young people
5 ^8 |7 x" r6 B% C  ?7 x5 Pinto the city that has continued to support the area's house price increases;
6 z* Z" l3 U) l! i2 P0 Nwhile increased inventory levels have afforded buyers more time when searching
& u+ `8 u/ h1 k4 `# x4 t3 m* bfor a home, helping to normalize the market's pace.
2 {3 j  r1 A- k/ m( x  R7 |2 |0 M% n4 r: w
    <<
) x( }) y: n; p* A      Survey of Canadian Average House Prices in the Third Quarter 2006
4 @6 i- E1 T% x4 v: F6 z( v) L4 Y2 @& {3 ]- z" m6 k/ _* N
    -------------------------------------------------------------------------
, K7 P6 V: y' W9 V# l& v& q                 Detached Bungalows                Standard Two Storey
* ]% a# X8 y0 F; A    -------------------------------------------------------------------------  s. \5 \  ~' R/ F3 F. ?% V8 D
                     2006 Q3     2005 Q3    Bungalow     2006 Q3     2005 Q3; w) _2 I6 [2 |* |3 g  `
    Market           Average     Average    % Change     Average     Average
; N. h. i# A0 _$ _! z% K0 ]    -------------------------------------------------------------------------" d  K* Y5 B+ u: k! T1 ~
    Halifax          186,333     173,333        7.5%     198,667     199,000
# E5 o3 x5 |9 h" K4 N    -------------------------------------------------------------------------
. A$ s* ], |( x3 o+ b    Charlottetown    145,000     141,000        2.8%     175,000     170,000. Z7 f) H7 R* w- L( b$ H
    -------------------------------------------------------------------------
3 w2 V0 Y0 r1 t+ Z5 x- I) q: @: A& I/ w    Moncton          135,000     127,000        6.3%     129,000     123,0001 J6 a7 F) O, a$ h: O
    -------------------------------------------------------------------------& e- \; y' Z- t4 Y0 P
    Saint John       141,200     142,900       -1.2%           -           -, t) O* J, c- n  p' N, R/ G
    -------------------------------------------------------------------------- G( b2 K! J+ {. A0 u
    St. John's       143,667     142,667        0.7%     200,667     202,333
4 B) n$ \  n' U7 O  b$ A    -------------------------------------------------------------------------+ E7 E$ X  Y: ]( Q  [
    Atlantic         150,240     145,380        3.3%     175,833     173,583, a+ J' O2 o" u6 m- O
    -------------------------------------------------------------------------$ Y5 [+ i; O0 J
    Montreal         213,691     203,500        5.0%     321,141     316,185! x8 ?  Q0 M2 h8 g$ y5 {
    -------------------------------------------------------------------------
) C4 N: S, A  q' W0 p    Ottawa           290,083     278,417        4.2%     285,667     273,250
( W5 E- t  _3 _- U( M9 ~    -------------------------------------------------------------------------
  E: v% w- K- J" \, y2 M    Toronto          373,368     355,882        4.9%     481,523     474,766
: u! i% S& w' Z    -------------------------------------------------------------------------; E) c& o  Z1 w6 g2 d/ R) V5 a2 M
    Winnipeg         181,579     159,860       13.6%     202,337     180,707
2 N$ L6 h5 U% E: [. o    -------------------------------------------------------------------------
* @% @4 l/ u$ l$ C9 v( e    Saskatchewan     170,667     156,083        9.3%     182,600     166,500
: c8 N) N' F8 [+ k' T+ H1 \% Z+ O    -------------------------------------------------------------------------
7 G+ m8 B) c8 K% V1 D    Calgary          395,067     252,411       56.5%     405,778     264,389
3 J7 B5 X/ O) q% H, ~+ {) R2 z4 S    -------------------------------------------------------------------------
) e( h5 Z* o6 C    Edmonton         286,857     194,857       47.2%     316,429     206,714
6 r/ |3 Q3 \8 n4 H. S4 C7 S    -------------------------------------------------------------------------
# _1 b  {$ x. A$ D4 ?) J    Vancouver        704,250     601,000       17.2%     794,000     697,500
2 J$ \9 b' P2 w, D0 ^% [, U; I    -------------------------------------------------------------------------' a% ]0 V/ a1 X& d! s$ j0 o
    Victoria         375,000     348,000        7.8%     403,000     391,000" o3 t8 U5 h9 y& s1 @
    -------------------------------------------------------------------------
8 ]3 C' Y% S# y& y4 p( L: Z    National         300,365     258,202       16.3%     365,380     322,8609 A+ O6 \& |1 m" i2 g
    -------------------------------------------------------------------------
4 U0 }) P/ j# y! Q( k2 J! Q. @7 ?* N$ ?& P
    -------------------------------------------------------------
4 f( u" l% |, u! M/ b/ B; v) h                               Standard Condominium
: g8 H( H# Q4 r+ i! [4 r2 A- A    -------------------------------------------------------------
& l- N* o5 K4 g$ f- {                    2-Storey     2006 Q3     2005 Q3       Condo
' ^( f, f" i. O- A- p* o    Market          % Change     Average     Average    % Change7 x9 a" `, n8 _$ p. R
    -------------------------------------------------------------
$ L6 L; Y/ E6 u    Halifax            -0.2%     142,000     103,000       37.9%: C! G$ j4 [$ }7 ~, O; r- [+ t, Y
    -------------------------------------------------------------
9 P* J; e. x4 B. n1 |    Charlottetown       2.9%      98,000      98,000        0.0%
, Q; ^2 e1 j  z# K" b! |    -------------------------------------------------------------
" k- p/ U$ c% h# o    Moncton             4.9%           -           -         N/A% u6 c0 Z2 C" z# U3 U- h) {
    -------------------------------------------------------------2 ^; ~" Y7 G5 T: N/ _5 Q6 \
    Saint John           N/A           -           -         N/A: @' ^* y) Y; n; T# t+ R
    -------------------------------------------------------------) j' Y' k; k" }1 h, r" M' j: B* N* j
    St. John's         -0.8%     146,333     145,667        0.5%, P% W: N% [4 z% y
    -------------------------------------------------------------8 r) C% e* U' @; Z9 f' i8 m! `# [
    Atlantic            1.3%     128,778     115,556       11.4%( k6 [' g$ k& I8 `
    -------------------------------------------------------------7 a& j. `) F, _$ T6 h1 m4 T' b8 \
    Montreal            1.6%     193,190     188,016        2.8%
* Y" F( m4 n! ]    -------------------------------------------------------------1 n4 Z+ @$ A' l4 J. e* f8 ~# u
    Ottawa              4.5%     181,083     172,250        5.1%
4 C5 j" q/ t/ f! O* K& s! X# y    -------------------------------------------------------------
: r1 |( u: K6 C' z# |    Toronto             1.4%     252,088     242,918        3.8%
/ k5 {0 `- `9 L- k    -------------------------------------------------------------. m' T! P) d3 m2 Q8 ~
    Winnipeg           12.0%     105,648      96,008       10.0%
6 I/ t) }+ _. ]9 I, D    -------------------------------------------------------------' b! s4 W+ z. L( K! S
    Saskatchewan        9.7%     106,250     101,000        5.2%0 P( e5 i; V2 R6 c* }* ]5 A
    -------------------------------------------------------------+ G0 s$ _7 g2 G% @
    Calgary            53.5%     245,844     153,867       59.8%
  S! b% @0 [; x, N5 U7 ?; H    -------------------------------------------------------------
6 i6 e/ }8 m! t8 @! n    Edmonton           53.1%     200,433     131,500       52.4%3 N2 ~0 T" J) z8 v1 v5 N
    -------------------------------------------------------------& W! J1 X1 c/ U$ {7 N/ M$ K
    Vancouver          13.8%     366,250     323,250       13.3%
* C8 |0 W6 D& D" i! V, g* V    -------------------------------------------------------------
: h4 w' P9 Q! n% s8 a* {    Victoria            3.1%     229,000     220,000        4.1%7 J5 V# c3 [7 n) k# e& C
    -------------------------------------------------------------& O7 _9 p/ A4 m) E
    National           13.2%     211,562     185,296       14.2%; @+ u4 c* v$ g  Z& Z/ V$ Z/ v
    -------------------------------------------------------------, j: o9 r/ W* O1 h8 m
    >>
( e7 z$ S8 s6 d3 G
7 [2 A) G& \6 |5 l. o  L  Y/ y0 y    Average house prices are based on an average of all sub-markets examined" `4 I( i. m# G2 z# p% k
in the area, except for the smaller markets of Charlottetown, Moncton, Saint3 T. W8 y2 l8 ]& D! v0 ]: x$ i
John and Victoria." U" R% e* n2 K
6 q3 K  P1 E; v! O: O4 m7 ~4 q
    The Royal LePage Survey of Canadian House Prices is the largest, most
) m3 O3 P3 q$ `1 w; Hcomprehensive study of its kind in Canada, with information on seven types of2 D2 v1 U( ?* w/ i  V
housing in over 250 neighbourhoods from coast to coast. This release
$ j8 l) i# Y) R8 w/ qreferences an abbreviated version of the survey, which highlights house price8 C. T. `: n# B
trends for the three most common types of housing in Canada in 80 communities
" F* y$ j0 e. n  Macross the country. A complete database of past and present surveys is# U! R, K& P, D+ I/ k
available on the Royal LePage Web site at www.royallepage.ca, and current
9 n9 L6 s! U1 [0 u/ `. _' ]figures will be updated following the end of the third quarter. A printable. C' l& H& `* K; Y* R
version of the third quarter 2006 survey will be available online on* B8 }" \6 B/ W, ?/ G
November 15, 2006.3 n# K% m! o% ]' c* X
    Housing values in the Royal LePage Survey are Royal LePage opinions of
7 }" ^! X$ Y) j3 \" U4 Jfair market value in each location, based on local data and market knowledge
9 f! {% Z' s/ w6 g( F+ M4 t- Mprovided by Royal LePage residential real estate experts. Historical data is# f4 z( S$ N# Z0 D) N, J8 t
available for some areas back to the early 1970s.
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