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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
/ G3 a/ U2 }( }# b. w. O' C" k( M4 M4 }/ u! P' m/ b0 i
- Country's market poised to show growth throughout 2006 -5 I2 \7 \5 h$ v8 E2 ]  H

* B; ]. Y* g2 N' J    TORONTO, Sept. 28 /CNW/ - For most of Canada, the housing market" k  _$ [2 t( J4 n% X3 ]8 c
exhibited moderate price increases and stable unit sales during the third3 B; m2 F' n4 l& I$ B, f
quarter. Wide regional variances continued to be the dominant characteristic- H9 e% m7 o8 l
in the market, exemplified by frenzied levels of activity and double digit
1 z. Y& }+ |/ yprice gains observed in the energy and commodity rich Western provinces, and
6 W( M2 V- f" |& A7 Amore reasonable sales volumes and moderate price appreciation in Ontario,5 Z, o0 I# a" z" p+ c8 Y
Quebec and Atlantic Canada, according to a report released today by Royal
! a1 F. w( j# V: u2 K+ sLePage Real Estate Services.
1 ^/ \+ n9 s+ G; ^2 J2 P* ?; k4 j/ l
    Nationally, market trends established through the first three quarters$ s9 B" k9 o$ j( Y- ^; p6 m/ Y& r
are forecast to continue for the remainder of the year. Robust economic
7 U" g( C7 y& I2 S* `* Vconditions, low unemployment rates, modestly growing salaries and wages, and7 V8 O7 w5 G0 M( i) G0 U0 g" [) G/ T
sound consumer confidence contributed to the overall strength of the2 m6 @, ]- B8 Q# @& H( B+ Z
residential real estate sector.
4 M% X$ M4 \* u. n6 `: D- j- m1 {( ~9 C* _; l$ y1 h, |+ L- s
    Of the housing types surveyed, the highest average price appreciation
- M/ t6 k9 k: P" w. n* I$ _& ?5 Woccurred in detached bungalows, which rose to $300,365 (+16.3%)& q9 ^2 z$ [6 X8 f, T0 S$ ^
year-over-year, followed by standard condominiums, which rose to $211,562
9 z4 ~! q( {  j9 W4 Y' s- a% m2 U(+14.2%), and standard two-storey properties, which increased to $365,380: V( J" E% N/ m" h" i! P
(+13.2%).
; C6 a3 p7 p. n3 Z: D
7 D" c2 M' D, f- g    "Canada's sturdy housing market continued to demonstrate steady growth+ T% V0 ?) T! l" Y( g
during the third quarter. For all but the west, we have moved on from the4 ~5 W( q" Y- `3 M0 @5 l
frenzied expansion that characterized the first half of this decade, and are
( [8 k, g% r% \: H. Opoised to show continued growth at a more moderate pace," said Phil Soper,
; f# W. c1 t( }9 {0 d- a! Qpresident and chief executive officer, Royal LePage Real Estate Services.
3 a" ]( L- C- y  {"Gone is the sellers' market that we have lived with for some years. We
5 L7 l: m1 A0 {5 Wwelcome the more reliable conditions that are characteristic of a healthy8 j5 g- v5 }3 }$ ?* W, P/ d
balanced market."
6 R! o: q/ I; j# n- j0 e# n# O0 v+ \
- J" p+ h1 O- N    Despite the double-digit rise in average national house prices,; A# B. J  u. t7 A
considerable regional variances were exhibited again this quarter. The shift
. z/ [& h' F8 n" t4 hto balanced market conditions, which began in late 2005, has continued
8 i1 q2 d2 y5 G' Rthroughout most of the Central and Eastern regions of the country. In the core
: i- w# ~9 y/ H9 Z2 Y) |energy producing western provinces, the combination of very high in-migration,
0 T# w0 g4 l0 e  P9 Tmanageable affordability, and a shortage of inventory has driven record* P- j  ^: Q# S2 ?; e- d
breaking price appreciations.
0 i' A  F8 f( Y6 x3 Y% [2 V  M& X% s$ e9 |' ?, S  h% G
    Echoing the second quarter and supported by Alberta's rapidly expanding
; _' Y7 e3 U/ S% ieconomy, Calgary and Edmonton led the charge of Canadian cities with the. a0 H% j$ W" C$ {- S9 I4 Z
largest house price appreciation in all housing types surveyed.7 ?4 l8 p! r7 Q0 B; y7 V
/ V5 p- S# ~% t, s7 z
    In Ottawa and Toronto, growth remained steady, supported by solid
0 i/ ?: y1 w! L) Teconomic fundamentals, an increase in available inventory and strong consumer# j% [. T$ b. u- ]
confidence. While the pace of price appreciation in Ontario leveled off
9 ^. i0 o3 r4 U, {; z9 v5 Z& {slightly, the province's real estate market remains poised for modest growth.! R) i( M" t; P5 D8 [
In Atlantic Canada, new housing and condominium construction offered buyers- w& I; l; o% D: f
greater selection at more competitive prices, resulting in a slower rate of
$ Z9 q) d* Y2 s. J0 ]9 i, N- f2 mprice appreciation when compared with 2005.
# [9 x* O5 |0 H2 T  i
% o  \# z1 q0 D& b  M- o4 O$ w# v    While the pace of growth in Canada has slowed, the domestic housing
/ `* q' Q" d% y" N/ g; _! z# K' tmarket is expected to outperform the American market. The economic and3 v+ o9 I  V$ j. T. b5 a
financial fundamentals driving the residential real estate sector in Canada
/ s5 k7 J/ L6 w5 J( d4 S2 Oare markedly different than those found in the United States.
7 C- b! P# S* J1 D, u. h1 p& }5 R# J; }3 m
    Added Soper: "Canada's housing market is likely to outperform the
5 N/ b/ B9 y# y& iAmerican market through 2007. A number of factors are working in Canada's
  M, b& z2 s" i% w  ^favour, including healthy personal and governmental debt levels, the
8 R0 }9 E& H4 S/ I8 q# vrelatively modest rise in interest rates in our country, and general9 S+ A5 E* r3 Y/ ?! z
affordability in our major cities. In addition, Americans are now seeing the
; z* d$ z& D6 M) D3 M) R4 Udownside of a tax system that encourages maximum homeowner leverage, and( a4 g4 |4 W. A# O7 @, p
aggressive financial products such as zero- and negative-amortization5 _' b8 z0 K" {( b/ w# P0 b
mortgages that work only in a high price growth environment."
! N! t( M9 J* s
9 o4 @! H' |" n% T( H, E    <<2 `% g8 L; z8 I& l/ A; [) P: j
                             REGIONAL SUMMARIES
, B/ I( p, @8 w  c+ l    >>
9 e  t; c) k  n3 r! i2 A( @$ y4 G1 J9 G$ O  `/ ^& O+ a% ~7 g- v
    Balanced conditions continued to characterize the housing market in2 M; y3 Q. m2 `  T3 n6 E
Halifax, as significantly higher inventory levels helped to moderate the rate
/ a) T. E- `( [) P0 h+ lof price appreciation. Buyers were increasingly choosy, taking more time
4 k" N' X, }9 v- L6 flooking for newer, low-maintenance properties that were not in need of
& F* K% F# c; y' G1 G0 vrenovations.6 i/ @. Y$ I- M+ ~6 m1 `+ l
6 x9 o. Q3 o" o. P0 x
    The housing market in Moncton remained healthy and strong as a slight
1 m2 `0 C/ L9 g; n$ t9 pincrease in inventory helped to moderate the rate of price appreciation- _0 ^( P  x& I$ u
compared to the same period in 2005. Activity was brisk throughout August and
+ N7 c* ?. Z  n* Q0 C+ ESeptember and is expected to remain this way through the fourth quarter.% s; v3 L. s9 q. X; z2 F
  V5 v7 T+ l, `( b( V* `' w2 n
    The housing market in Saint John underwent its traditional summer- {- S1 P5 _$ c; ^
slowdown in the third quarter, with activity picking up towards the end of the8 @5 v: }6 @5 D* x* O8 r$ f
quarter. The local economy continued to thrive, as construction on a new. F- u% n" B+ i& p
600,000 square-foot shopping area has begun, bringing several new box stores
9 }9 D! s! b! s* ]9 _- Xto the area. Buyers have begun seeking less expensive fixtures for their homes
- P4 Y% B  Q4 ]' S" F% land are instead opting for more affordable housing options.
& O, [" F/ c7 p; j- L$ ~8 T  F3 T2 U% G& ^1 h3 U* n. O
    In Charlottetown, the housing market started to move towards balanced
, M/ m9 Q4 n% X, q; R1 dconditions, as some sellers had to begin to lower the asking prices on their
: O6 L+ S" T9 H$ {) z+ b, S' Dhomes to make them more competitive. Activity from out-of-town and US buyers8 l  Z3 Y% a2 C8 Q
was down slightly compared to 2005, likely attributable to the strong Canadian7 }: b% R$ Y, M) n9 Y
dollar. Inventory levels began to creep up in the third quarter, providing
4 V  i& m& k+ y: T; rbuyers with more options when looking for a home.6 z/ r9 L/ D# j  E

- s: F; P" n0 J  I; k3 c$ C& D    Activity in St. John's slowed slightly in the third quarter, particularly
2 S+ p7 G% ]0 E* q' j; a6 @9 hamong higher-priced properties, where there was a slight over-supply of homes
) ?( Q! ~/ [2 ?# U6 U- lpriced over $200,000. Listing periods have increased when compared with 2005,5 U9 v  @, ^, Z: D
as some of the pent-up demand that had characterized the market over the last+ [, |6 [' T8 y8 m3 N* Z% F
few years has been satisfied, resulting in more normal, balanced conditions.
  G" _1 `# h- _9 Z
2 q- S# |2 d1 T' k0 ^    Montreal's housing market recorded modest increases in average house
0 e7 S& L/ {5 a5 mprices, due to a slight seasonal slowdown in the third quarter as inventory
' E# O( ?  V" q* L$ h/ dlevels rose. Part of this can be attributed to the fact that many renting
9 L, J) m4 F6 l. L: H: r4 lfirst-time buyers were motivated to close on the purchase of a home by July 1,/ l/ S/ n8 _! i
when rental leases expire in Quebec. Once this date has passed some of the( f, @  C. d  L- x9 {: ^
pressure is taken off the market, allowing buyers to visit more homes before3 k* s, ?+ ]3 F
making a purchase.
' W& ~8 {& z. R0 c
0 R0 S5 F5 a& t5 ?1 r8 B6 O. @    Ottawa held its position as one of the country's most stable housing4 o8 H2 P1 r/ l5 [. k( w
markets in the third quarter, reinforced by a vibrant local economy and strong2 |' T' P: r0 |* f. O/ B
confidence, resulting in modest increases in average house prices. The city
9 Z- f/ V1 s7 ccentre remained a bright spot in Ottawa, with homes in this area attracting
0 q: [3 ?$ a5 C  E/ S7 c: X4 Hattention due to their convenient location and proximity to downtown" d3 ~. r$ a" W% Z; L
amenities.  }3 B& u) a, J( w6 C5 b
+ v1 G+ O4 [) ^+ i
    The housing market in Toronto sustained healthy activity levels
- H1 w5 [1 W! |0 y4 Hthroughout the third quarter, as a strong economy helped to maintain demand
, Y0 T, c' O' p2 u" [" B5 O" dacross the city, causing average house prices to rise moderately. Toronto has
3 C" y* n4 B. ?( [continued to experience modest growth in average house prices, and has been
9 q- `0 [- f1 L1 p4 P, v, z3 \driven primarily by purchasers who are buying homes as their principle
& P) v1 e2 D# i/ Sresidence, rather than for investment.
8 R& [: H1 S( g, r6 g5 }; u9 s  M3 w. S! |" ]$ i, O
    The vibrant Winnipeg housing market continued to show its strength as3 F6 s9 X+ k3 v: L% ~5 N
house prices rose during the third quarter. The booming local economy resulted
) ]; h2 F" Q% V. |* qin a historically low unemployment rate, helping to bolster consumer% p* ]! z; t' t8 A8 u
confidence and Winnipeg's ranking as the city with the lowest capitalization
9 v+ _" R; }6 Q: n+ z% Crate among the country's larger cities - helped to encourage buyers to enter5 `9 y4 D: u- s4 b5 A6 W
the market.
. i6 b/ J3 w/ j4 ?3 H( t6 u$ ?8 b3 ?1 t' V6 q% y( L1 U. a
    In Regina, the market experienced a slight seasonal slowdown through# B9 {# \1 h" q8 ~- [3 I, d; G
July, as there were fewer purchasers in the market due to summer vacations. In$ x. m! [" K: z9 t( O
August, activity resumed to the busy pace previously seen in the spring) `$ E/ P0 c# Z+ a; u( X8 K$ \
months, as the influx of purchasers made it more difficult to find a home due1 X: _" w3 t6 m8 V" E* W
to the shortage of available inventory.+ c+ s; O% t- B  u8 s+ Q, B
6 p, W7 b8 F+ k3 B( p+ _- Y2 M& v
    Activity in Saskatoon remained brisk as the market maintained its  A  P+ H' ?3 t4 J/ A! G! f+ @2 {- ?
momentum from the busy spring sales period. The economy in Saskatoon remains
) }9 Q6 y4 H/ l7 ~( e9 n" fvibrant, as employment opportunities are abundant with many businesses: j& D. M8 _' i
struggling to make hires and having to recruit outside the province.
# o/ i1 I+ _  @' ~5 b1 @" ~# L! K; ^) g& i
    Calgary's housing market recorded blazing average house price increases) F* L4 ^0 u  N2 I1 u
in the third quarter, in all surveyed categories. The burgeoning economy, low7 b0 B% u9 K* }) X  J
unemployment rates and low inventory levels remained the leading factors that# R2 U* u& M4 _8 [# o, y/ ]
pressured Calgary's house prices upwards. However, regardless of the soaring! U3 l; o3 ~- v! @& Y+ F
prices that characterized the market - even during the typically slower summer+ O/ Q- W2 o$ w  U
season - it is expected that activity will become slightly more balanced, as( d& a* @+ J- S" a. G& a
buyers are becoming more reluctant to participate in the frenetic activity.

9 M3 @+ Z0 g4 v4 b/ ^8 v
7 G% N9 r  A9 u2 b    Edmonton's booming local economy continued to thrive in the third quarter# q" z+ M6 ?& N
as activity in the oil sands north of the city continued to flourish. Edmonton- n) x  S( [* v. [
remained the hub of activity for those coming to work in the oil industry,, ^0 N, v8 u; j# x' y9 P9 k1 _
maintaining tight inventory levels across the city, resulting in prices! m4 a3 T* k0 @  K. Z) ?
increasing at record levels. However, as inventory levels continued to improve
$ r; s4 N* b" K, s+ Uin the third quarter the rate of price appreciation should moderate slightly
. {% n) E0 t3 W6 {4 T) Btowards the end of 2006.
   
" Z2 i- F6 l1 i6 n6 [2 p+ G2 J- ^7 n) S% G  T4 i9 `9 w
While Vancouver has seen a slight reprieve from the severe shortage of
4 ]3 `( [; ]# Q1 o1 Oinventory that had previously characterized the market, supply is still unable1 I$ u! @( C3 u& C; |% R1 K; B
to meet demand, driving house prices upwards. Vancouver has a very diverse- n  f! [) C7 N7 M2 j3 H
group of active buyers - from first-time home buyers to baby-boomers to% b  @( c! C! U/ p
foreign investors - all of whom fuel the demand for houses, placing added, F, {, Y6 w/ j  v
pressure on tight inventory levels.* l, R! r% K& H: z# x6 j" q2 n

8 b# f& ~/ x7 g    Victoria's market is vibrant and supported by strong economic
: R" b) s3 S' C  _5 `# \  F" G( ?fundamentals, fuelled by a booming tech sector and a migration of young people% N7 N# J; ~# g3 d  m
into the city that has continued to support the area's house price increases;
; P3 f" O4 m. w% C# q8 ], m: }6 Cwhile increased inventory levels have afforded buyers more time when searching' \3 N1 a) X+ h
for a home, helping to normalize the market's pace.
$ N, g- E$ `! {) h$ q+ e! _; y; h  V" |) C  N
    <<& }. F# Q! Z# J
      Survey of Canadian Average House Prices in the Third Quarter 2006
6 D. u9 Z/ q* T
) ~( r6 N5 b( ^    -------------------------------------------------------------------------7 ?! }2 v' v- V3 B  _  n) }% b
                 Detached Bungalows                Standard Two Storey
) C. i/ A- u& l' D& w    -------------------------------------------------------------------------
" N$ F; o5 e( f7 u0 S                     2006 Q3     2005 Q3    Bungalow     2006 Q3     2005 Q3
: W8 @9 N9 y! B& p    Market           Average     Average    % Change     Average     Average
; E" k6 X0 t! u* f% ^- O- }    -------------------------------------------------------------------------" ^; P2 p4 o3 D1 L8 B- d7 q
    Halifax          186,333     173,333        7.5%     198,667     199,000; g6 ^4 U0 x. q9 D8 j5 O: t
    -------------------------------------------------------------------------
1 _$ j: x/ J+ s2 U    Charlottetown    145,000     141,000        2.8%     175,000     170,000
+ B* h4 q1 p" X3 S4 O    -------------------------------------------------------------------------
- @$ k9 a( f7 }# y* H: C    Moncton          135,000     127,000        6.3%     129,000     123,0008 R/ _9 w. L4 z7 H8 w
    -------------------------------------------------------------------------! {8 d5 b$ P+ ]& r
    Saint John       141,200     142,900       -1.2%           -           -
6 a" s  R# ~  z( Y    -------------------------------------------------------------------------" M( Q# u2 n6 [7 B
    St. John's       143,667     142,667        0.7%     200,667     202,333
  E: [8 @$ k- j    -------------------------------------------------------------------------+ q3 O. W5 v/ W
    Atlantic         150,240     145,380        3.3%     175,833     173,583; [. @. Q1 E9 O5 s
    -------------------------------------------------------------------------; W4 _4 T6 I9 C1 F' V4 R
    Montreal         213,691     203,500        5.0%     321,141     316,185
/ Q: }6 V/ W1 g/ f' ~8 C    -------------------------------------------------------------------------* G" k2 z/ f' @8 O
    Ottawa           290,083     278,417        4.2%     285,667     273,250
( s2 c6 `2 i1 u6 S6 [, n& b6 S    -------------------------------------------------------------------------1 h; j- F* `' h
    Toronto          373,368     355,882        4.9%     481,523     474,766$ S+ ~" c0 q* C& \$ `) i
    -------------------------------------------------------------------------7 s3 l, N7 ^- E! l$ t- ?
    Winnipeg         181,579     159,860       13.6%     202,337     180,707
$ J# i( L; _: i' v5 c+ |2 r    -------------------------------------------------------------------------
0 c- t1 M1 x5 Q* {    Saskatchewan     170,667     156,083        9.3%     182,600     166,500
: p/ {4 h7 z- s  I* F: Z3 }8 [    -------------------------------------------------------------------------* F2 i% U6 g2 W! E* w& Q: h
    Calgary          395,067     252,411       56.5%     405,778     264,389
$ q; y' H) ?/ C  e( x: `+ B: v    -------------------------------------------------------------------------
9 Y+ w5 L0 D+ W5 R7 g0 H, K# L    Edmonton         286,857     194,857       47.2%     316,429     206,714$ |; E( s3 S" X% e" K( A
    -------------------------------------------------------------------------! M$ C7 I, ^  M/ T/ N# T
    Vancouver        704,250     601,000       17.2%     794,000     697,500
5 e. A4 E% X3 E, T9 f    -------------------------------------------------------------------------9 g" h1 q9 J! A7 {+ u/ W4 A& w
    Victoria         375,000     348,000        7.8%     403,000     391,000
0 L9 t) ?6 I/ I# r    -------------------------------------------------------------------------! P, P; h3 d1 Y: {' G6 B9 ~( ]
    National         300,365     258,202       16.3%     365,380     322,860, ^6 M. C; F9 H
    -------------------------------------------------------------------------
; e3 X1 X! L% n+ Y" m* [* t" s, w; `/ @+ q- N6 ^, T) P. x* J1 U3 E
    -------------------------------------------------------------5 t& A. T6 z0 A4 G0 t
                               Standard Condominium
& _8 a4 L, l9 |) N0 h    -------------------------------------------------------------
' i9 g& g1 \8 x  u2 K                    2-Storey     2006 Q3     2005 Q3       Condo/ n# a+ |. a% m3 f4 \
    Market          % Change     Average     Average    % Change! w; Y0 s  U. h! W0 Y2 s* V, }
    -------------------------------------------------------------
$ b; x( }" D  I0 L5 w' {    Halifax            -0.2%     142,000     103,000       37.9%8 G+ V4 e- G- Z$ `7 D+ c" J
    -------------------------------------------------------------9 v# F( q0 K4 @" H8 G+ I, ]
    Charlottetown       2.9%      98,000      98,000        0.0%" H  ]) }" K5 y
    -------------------------------------------------------------
. ]1 t. X7 i, @1 `2 v    Moncton             4.9%           -           -         N/A
( X3 ?, b) |9 k2 o0 N$ q4 C    -------------------------------------------------------------( A! ~) m" L3 X3 Y3 f. B
    Saint John           N/A           -           -         N/A
. s3 K, a6 E/ J+ k$ K! P, K    -------------------------------------------------------------
; w9 A4 n. D  M# p    St. John's         -0.8%     146,333     145,667        0.5%: p8 v# Q0 T+ S+ n% R
    -------------------------------------------------------------' h5 Q4 q: y$ B+ T/ O+ z
    Atlantic            1.3%     128,778     115,556       11.4%
' q3 f3 ^) E& B1 O( X    -------------------------------------------------------------
! |& `* s; S) ?. y    Montreal            1.6%     193,190     188,016        2.8%8 a" t% p7 z" ]) D
    -------------------------------------------------------------
  V3 L" z( v( S. Q' e( v    Ottawa              4.5%     181,083     172,250        5.1%  x# E& ]; _9 l1 j: P, x
    -------------------------------------------------------------
- W8 Z( ?+ W1 P3 j0 L: T1 V    Toronto             1.4%     252,088     242,918        3.8%
. }5 }% L7 F% I1 ?" M8 T# M3 f    -------------------------------------------------------------* A- w  `  v6 a0 q/ J
    Winnipeg           12.0%     105,648      96,008       10.0%
- I% e7 V0 H- A( e    -------------------------------------------------------------* j5 y0 o4 V  t; V
    Saskatchewan        9.7%     106,250     101,000        5.2%* j4 ?: D$ N; t0 r% Q( w
    -------------------------------------------------------------
- L6 n  t, q& s+ Y8 ?$ L    Calgary            53.5%     245,844     153,867       59.8%2 d. c" U" ^3 K( Q  D
    -------------------------------------------------------------$ `4 f% n6 r( n* z% G  U* g
    Edmonton           53.1%     200,433     131,500       52.4%5 K8 c$ J: h4 s* V$ F  N3 @3 F' j
    -------------------------------------------------------------
3 v) \, z. R$ ^7 n2 o    Vancouver          13.8%     366,250     323,250       13.3%
9 T- `' k( R/ t9 {: f: [/ r    -------------------------------------------------------------% [/ z0 [6 \$ b1 H. I
    Victoria            3.1%     229,000     220,000        4.1%
4 ?6 }- C2 q( j3 R" D, a; n    -------------------------------------------------------------  V5 Y; d; n: e* q; g- w
    National           13.2%     211,562     185,296       14.2%/ S4 d4 c- E) c" m% a7 q
    -------------------------------------------------------------" ~# Y! S( s: f! S$ i( Z
    >>
6 B! p4 L* R9 ]4 ^5 K6 J
4 H" ^/ x+ I; f, K8 K( ?* _    Average house prices are based on an average of all sub-markets examined
5 i* d1 ?0 a0 q$ i5 jin the area, except for the smaller markets of Charlottetown, Moncton, Saint
5 T  A8 u3 `! ?3 J4 X, i9 J" q2 ]John and Victoria.
2 R9 j4 l' q* W9 |( l
) D7 N* h- ^& p) a3 V    The Royal LePage Survey of Canadian House Prices is the largest, most2 @$ h4 ^8 s/ y& n" r. \
comprehensive study of its kind in Canada, with information on seven types of
7 y) K# }" ~) ?4 L3 f, Y7 A/ E, Dhousing in over 250 neighbourhoods from coast to coast. This release
7 d7 Z7 |  L+ R. b$ j" t6 C+ |references an abbreviated version of the survey, which highlights house price
) ]' m; E" w* ?2 ~7 @# ttrends for the three most common types of housing in Canada in 80 communities
( E3 G- ?5 d) J/ q5 A9 d( Xacross the country. A complete database of past and present surveys is
/ K. \+ @& l8 j% M  g, havailable on the Royal LePage Web site at www.royallepage.ca, and current
" w# |/ B5 M. _7 u% g/ K8 }figures will be updated following the end of the third quarter. A printable2 k) T+ v2 h8 }+ @$ }" m3 t$ n
version of the third quarter 2006 survey will be available online on) ^$ c: @0 l6 b6 H/ f4 K
November 15, 2006.
6 D" c; h  Y. Y; i    Housing values in the Royal LePage Survey are Royal LePage opinions of
$ B+ P: t$ D4 Tfair market value in each location, based on local data and market knowledge6 ?6 ]+ v# A8 ^
provided by Royal LePage residential real estate experts. Historical data is
3 H/ a& J9 \& S, }1 w' M$ Vavailable for some areas back to the early 1970s.
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