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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
7 v# L( s2 \  H0 T+ v6 ]; w
. S3 P, t+ y" ]6 w  w+ J- Country's market poised to show growth throughout 2006 -
# y5 q& i9 u- B4 A: D/ O! {8 V2 ?. N: O; }+ J& ]2 o$ k
    TORONTO, Sept. 28 /CNW/ - For most of Canada, the housing market/ R4 }4 U: o  @0 m& X$ p
exhibited moderate price increases and stable unit sales during the third/ X8 R6 h- s  W3 i+ C( K4 h( Z
quarter. Wide regional variances continued to be the dominant characteristic: J! X9 z# y- {; }+ j( e
in the market, exemplified by frenzied levels of activity and double digit
8 h0 e2 e  F8 f4 l" N$ v" P/ J5 Dprice gains observed in the energy and commodity rich Western provinces, and8 V2 A& o, S) @
more reasonable sales volumes and moderate price appreciation in Ontario,
4 [% `8 T! g4 a1 z. H# c: ?# e( XQuebec and Atlantic Canada, according to a report released today by Royal0 _/ X/ V0 Y- C- E4 K
LePage Real Estate Services.
' ^0 I$ S2 M& B9 |  b( b$ _
4 ?- D, k+ H) F+ p( t2 v) ~9 @    Nationally, market trends established through the first three quarters2 A% i  M1 l. {$ W
are forecast to continue for the remainder of the year. Robust economic
+ t9 g0 {) M5 }9 j8 \conditions, low unemployment rates, modestly growing salaries and wages, and
5 e2 r  b+ Y# U1 l+ I- osound consumer confidence contributed to the overall strength of the$ {: n! l% @) d7 d, N
residential real estate sector.
7 @0 l% ~$ b: [+ T+ _+ N
% J( \3 a# }- i$ }    Of the housing types surveyed, the highest average price appreciation; X; w: b( O9 {3 t
occurred in detached bungalows, which rose to $300,365 (+16.3%)2 X- Q1 \! m: S
year-over-year, followed by standard condominiums, which rose to $211,562' x: G* z  I1 d0 S
(+14.2%), and standard two-storey properties, which increased to $365,380
8 _- j$ [% C( |# P9 L! c(+13.2%).
+ ?; U2 c1 T- l" A& y$ t
1 L) t. l* R' U# ?* y  G    "Canada's sturdy housing market continued to demonstrate steady growth" H& g5 \7 ]4 c) ~$ R! ~
during the third quarter. For all but the west, we have moved on from the
& u$ u8 ]0 p! J9 Ffrenzied expansion that characterized the first half of this decade, and are! t0 n) U9 G/ X9 ^' Q+ w: F
poised to show continued growth at a more moderate pace," said Phil Soper,% F! P  ?2 W6 N' v
president and chief executive officer, Royal LePage Real Estate Services.
& a. Y2 L; ~! d4 U"Gone is the sellers' market that we have lived with for some years. We
' h' V& M3 J3 swelcome the more reliable conditions that are characteristic of a healthy. e3 {" m/ h2 N6 C* G
balanced market."
3 Z; E* Q: h' Q+ p' l0 |8 ~4 U1 e) S0 j9 ~, j0 p  G) X
    Despite the double-digit rise in average national house prices,0 M- z8 N" O, @0 Z
considerable regional variances were exhibited again this quarter. The shift
; h* P. W- y" j5 ~! F% q" T% rto balanced market conditions, which began in late 2005, has continued4 V3 H3 I6 S+ \9 {8 _1 r) \
throughout most of the Central and Eastern regions of the country. In the core; J  y% _! d; d- N3 q7 B- L
energy producing western provinces, the combination of very high in-migration,
! F7 |/ ^+ x9 `, k5 z$ Ymanageable affordability, and a shortage of inventory has driven record
: P! C6 b( R" x0 y! h: Vbreaking price appreciations.
5 |. W: ?+ H: x: U
5 O" q  m( e$ }8 C! I& ]: y    Echoing the second quarter and supported by Alberta's rapidly expanding5 X- E; N+ I9 O
economy, Calgary and Edmonton led the charge of Canadian cities with the
$ p4 N( ?* ^, b2 \! _largest house price appreciation in all housing types surveyed.
6 _& C8 `  @2 i9 s1 s% u  |3 X# Z" i' u8 E
    In Ottawa and Toronto, growth remained steady, supported by solid
  R8 b) W( E& ^6 r& S) Seconomic fundamentals, an increase in available inventory and strong consumer
% t1 @# f0 A+ F+ o; tconfidence. While the pace of price appreciation in Ontario leveled off
" }/ i0 w0 k6 `: v8 C- D3 wslightly, the province's real estate market remains poised for modest growth.
" [6 ^" I1 b7 K+ P  N1 [6 eIn Atlantic Canada, new housing and condominium construction offered buyers
' v6 B6 X& C% p6 ^greater selection at more competitive prices, resulting in a slower rate of
. @8 J1 k- |  x" u, w1 X5 c# eprice appreciation when compared with 2005.3 H; {2 P/ i0 W" [% v
' x, S+ r" g' K
    While the pace of growth in Canada has slowed, the domestic housing; r# z4 h! r; g
market is expected to outperform the American market. The economic and3 m' P2 w! `) o; \) f) q
financial fundamentals driving the residential real estate sector in Canada3 W( d! C" D0 D" ~2 O
are markedly different than those found in the United States.
0 _2 m5 x0 U& O4 i1 d5 C8 o5 x# P  }; m& n, S: \6 e9 _: x3 `: P
    Added Soper: "Canada's housing market is likely to outperform the4 w! B; s# {. Q2 L# }; ]4 Q! ]
American market through 2007. A number of factors are working in Canada's7 c& {+ k8 G: D4 d) n7 z: s4 j
favour, including healthy personal and governmental debt levels, the
. X" s3 \. ^! T7 E9 hrelatively modest rise in interest rates in our country, and general; p& F) m# Q" S: C
affordability in our major cities. In addition, Americans are now seeing the' `; G9 M) z! D3 J3 H7 {; B' I
downside of a tax system that encourages maximum homeowner leverage, and
) [( e9 ~2 {( ]9 Q& }$ b) zaggressive financial products such as zero- and negative-amortization
* [% x5 b6 E5 `, z$ T" umortgages that work only in a high price growth environment.": R) s8 x& g: _% O5 D/ \5 Y$ a
6 U( ^: c1 {. F
    <<
6 E4 O! N# g- {8 v, u0 m                             REGIONAL SUMMARIES# V/ D" K$ |! \0 X
    >>
8 M3 ^9 K: s! @
! }7 @0 B0 _9 m+ @    Balanced conditions continued to characterize the housing market in' i5 s5 M; \) W2 H
Halifax, as significantly higher inventory levels helped to moderate the rate
$ u: }1 i# A" f' p9 i, S! Mof price appreciation. Buyers were increasingly choosy, taking more time7 k7 o+ i: k  ^4 |/ w. Z* l
looking for newer, low-maintenance properties that were not in need of
5 H9 Z4 w7 R& }1 h3 \renovations.
! e+ g: g' g/ D' v$ V2 i; i: X; H$ s9 {$ w: p/ C* \5 G; M
    The housing market in Moncton remained healthy and strong as a slight) t1 E5 C" y6 A' z% \) e
increase in inventory helped to moderate the rate of price appreciation8 V. z: x7 b; S
compared to the same period in 2005. Activity was brisk throughout August and: [: K, h& W" J1 A. c4 R  z
September and is expected to remain this way through the fourth quarter.7 |& o9 a, N4 L6 P7 j5 V

, a- s; o# l* G4 w8 {- p    The housing market in Saint John underwent its traditional summer
$ G8 [8 u! U. D6 c6 a( i% Tslowdown in the third quarter, with activity picking up towards the end of the
3 T3 n; O. V  Y0 x: `quarter. The local economy continued to thrive, as construction on a new% i, g3 m/ I" p' B
600,000 square-foot shopping area has begun, bringing several new box stores
! M! X9 {* Y8 Y( [to the area. Buyers have begun seeking less expensive fixtures for their homes
# J2 a$ L0 x# a& y1 X8 J, ?and are instead opting for more affordable housing options.
# ~; E0 u9 R, [& ^+ S$ d& V4 U; c
0 g, m) g" ]6 j    In Charlottetown, the housing market started to move towards balanced
3 D1 A1 W1 [' S& m6 V; T' _& E8 lconditions, as some sellers had to begin to lower the asking prices on their
0 ^  F6 A' u- W* Qhomes to make them more competitive. Activity from out-of-town and US buyers
- }' f# m1 o: ?' Y% R8 b, Gwas down slightly compared to 2005, likely attributable to the strong Canadian) i& N! p/ k9 t  F9 g# b
dollar. Inventory levels began to creep up in the third quarter, providing
, V' V3 e6 _  I1 Z  Ebuyers with more options when looking for a home.
+ J" j! e7 {7 N/ N/ F1 J
; q+ b# o8 Y. {7 c% P' U5 V. p    Activity in St. John's slowed slightly in the third quarter, particularly
/ F; N( a' [+ b8 `7 m/ Bamong higher-priced properties, where there was a slight over-supply of homes# Z8 _8 F9 _0 N' G
priced over $200,000. Listing periods have increased when compared with 2005,
' H/ s: }# u4 }1 J0 I4 bas some of the pent-up demand that had characterized the market over the last
! V( R0 B0 f$ `+ v  sfew years has been satisfied, resulting in more normal, balanced conditions.
0 C( y: |6 z, D% i/ D0 G4 T+ l
    Montreal's housing market recorded modest increases in average house
1 D: A* D* {9 L( P: P# |- hprices, due to a slight seasonal slowdown in the third quarter as inventory
2 a0 \8 g) f6 O/ nlevels rose. Part of this can be attributed to the fact that many renting
6 q0 e" V, f0 Wfirst-time buyers were motivated to close on the purchase of a home by July 1,- [/ ?' b( m" Q5 u) j* S: Q
when rental leases expire in Quebec. Once this date has passed some of the$ T3 \2 d# J# x  O6 C- j# @
pressure is taken off the market, allowing buyers to visit more homes before- n& M8 {/ a" w9 g- {! Z) {& |( @
making a purchase.
+ N4 Q" P* |. E3 L5 P/ J) f
) e8 p' i# u+ h  t' o1 h5 T; o/ E. h" \    Ottawa held its position as one of the country's most stable housing8 X8 H) l' T4 f! e. ]1 E# \2 v
markets in the third quarter, reinforced by a vibrant local economy and strong1 S- a. j' R' U+ j9 r/ ]
confidence, resulting in modest increases in average house prices. The city
% B/ N5 n# d- T' z/ k# |: ecentre remained a bright spot in Ottawa, with homes in this area attracting
3 H( g, l" E+ C' v" P7 cattention due to their convenient location and proximity to downtown8 Y3 j# i2 J, v  b+ e  l3 `
amenities.. Y% V. ~3 Q. l# v2 D
: i- y0 @1 j; d8 V* G
    The housing market in Toronto sustained healthy activity levels
3 q/ [& _& D8 i# a% f5 ^+ X& V& W1 G/ [throughout the third quarter, as a strong economy helped to maintain demand2 T) E+ F2 |6 ?
across the city, causing average house prices to rise moderately. Toronto has6 W) a& [! x8 {8 `1 R" O8 A$ ?) Y% k
continued to experience modest growth in average house prices, and has been
2 `- c! X+ c. E0 m1 ~* y/ Ddriven primarily by purchasers who are buying homes as their principle
$ B0 F6 R) h( c* qresidence, rather than for investment.
. J9 R8 o; k- b+ F# d" w! g5 t5 p$ d' m8 {! r* L$ A4 @
    The vibrant Winnipeg housing market continued to show its strength as
9 \/ M) J! A8 k% n7 m. Bhouse prices rose during the third quarter. The booming local economy resulted
7 l- l$ ^! R% l4 ]+ ]5 ]/ \  k- \' [in a historically low unemployment rate, helping to bolster consumer% e/ v# r- Y, A" \( ^# v
confidence and Winnipeg's ranking as the city with the lowest capitalization6 V9 }7 I4 ]; V: _' K
rate among the country's larger cities - helped to encourage buyers to enter( e) }3 G5 u# E  C
the market.
; w0 o# ~& X. b/ }; i
9 e1 s; h" F( P% H$ H! B/ J    In Regina, the market experienced a slight seasonal slowdown through
$ W2 V  U" R  h) V) z( o& f; _/ C" T9 C8 iJuly, as there were fewer purchasers in the market due to summer vacations. In2 B) m$ v. F, y1 O* }: |
August, activity resumed to the busy pace previously seen in the spring! E8 D9 G' r7 T' p6 f! G
months, as the influx of purchasers made it more difficult to find a home due- Y, T0 n; D/ n9 k# ?; u  S
to the shortage of available inventory.6 i7 J7 a+ F1 V* ]6 U1 X9 |4 ?
: i9 S" h8 S4 @2 P! x, |  j
    Activity in Saskatoon remained brisk as the market maintained its( p7 }. K+ N1 u9 D
momentum from the busy spring sales period. The economy in Saskatoon remains
4 j, A1 m/ N- U0 c( i0 wvibrant, as employment opportunities are abundant with many businesses) c( P6 r) u1 j7 S/ \+ Y" d
struggling to make hires and having to recruit outside the province.
: A& b: I) |) ?) B8 X
1 h6 u. U' E9 r: y6 Z& T/ H* l    Calgary's housing market recorded blazing average house price increases
5 ~9 Z0 M/ `9 T. L+ n  h+ fin the third quarter, in all surveyed categories. The burgeoning economy, low
2 |5 @2 O6 ]8 k& {$ z& Zunemployment rates and low inventory levels remained the leading factors that6 y# c; i% R0 t! Z
pressured Calgary's house prices upwards. However, regardless of the soaring
3 @& N2 v5 t" O) ^6 m( Zprices that characterized the market - even during the typically slower summer
4 w; @2 ^; ]: D6 l$ J# @season - it is expected that activity will become slightly more balanced, as9 ^; r7 h% E+ {5 ?9 f# n3 M
buyers are becoming more reluctant to participate in the frenetic activity.

* z( ]* E1 x' S: L* {# L) M1 g6 j
5 M) }$ ~7 [% f3 X4 J# s    Edmonton's booming local economy continued to thrive in the third quarter" q! e2 F. K4 H. u9 ]5 \+ ^# b# m2 g
as activity in the oil sands north of the city continued to flourish. Edmonton; C3 `* k% x, ~) N
remained the hub of activity for those coming to work in the oil industry,
- |$ i/ D9 q" s" X2 @maintaining tight inventory levels across the city, resulting in prices+ j2 r7 C- j  P# |5 b
increasing at record levels. However, as inventory levels continued to improve
- e' L9 F( }- |0 z% vin the third quarter the rate of price appreciation should moderate slightly2 x8 a% D! @& T& s( [( N
towards the end of 2006.
   
# \& J/ |% ?' x/ t% O  d
5 N; X2 X! d* X9 ]0 O! M7 k- ZWhile Vancouver has seen a slight reprieve from the severe shortage of2 t9 r5 D+ R  }$ U
inventory that had previously characterized the market, supply is still unable! A1 K+ J* {7 C& Q+ x3 A
to meet demand, driving house prices upwards. Vancouver has a very diverse
( y9 ~$ i, r# W5 m8 sgroup of active buyers - from first-time home buyers to baby-boomers to/ f. h+ O0 \4 g
foreign investors - all of whom fuel the demand for houses, placing added7 i4 H. X2 A7 W' Z  i
pressure on tight inventory levels.4 ~+ q1 V3 Y! a7 k7 z! Q0 L
; H+ y$ I, I2 u2 {8 c: N( H
    Victoria's market is vibrant and supported by strong economic$ A1 h6 _* z6 B4 h) B5 P" ]
fundamentals, fuelled by a booming tech sector and a migration of young people
4 P0 {6 [$ T% z; D+ Cinto the city that has continued to support the area's house price increases;" v" V, D9 S- U1 @+ q
while increased inventory levels have afforded buyers more time when searching
" |& x- l8 T: f/ |, ufor a home, helping to normalize the market's pace.
& p0 c- j& B' |" U5 E/ ~
$ `2 u; u& k: E    <<6 G$ N1 D. f: c  m0 s$ i/ L2 B
      Survey of Canadian Average House Prices in the Third Quarter 20069 v" F, A1 z5 }/ j5 |, d" z

" f5 C0 C6 Y' L4 `3 ~& `7 X8 N2 F- Y    -------------------------------------------------------------------------4 q' c, c- X/ S/ U
                 Detached Bungalows                Standard Two Storey4 M! t7 i* R# ^  F
    -------------------------------------------------------------------------
% ?0 P7 I) ?+ |, R' [" M" P% D6 o                     2006 Q3     2005 Q3    Bungalow     2006 Q3     2005 Q3
( V4 R0 e/ M+ V: X    Market           Average     Average    % Change     Average     Average+ p8 S' ^, H8 J) O' @
    -------------------------------------------------------------------------4 n! X, c4 w5 h/ z' @& I
    Halifax          186,333     173,333        7.5%     198,667     199,000! o: u3 N9 J2 V' K5 G( Y! U$ f
    -------------------------------------------------------------------------
/ |! H/ K* E) C    Charlottetown    145,000     141,000        2.8%     175,000     170,000
7 @2 O5 e( |# Z! \3 c. |- r    -------------------------------------------------------------------------  F1 T' e5 G/ U7 v8 F5 U% I  j
    Moncton          135,000     127,000        6.3%     129,000     123,000* x7 v7 ?$ ^0 L8 D4 f
    -------------------------------------------------------------------------8 E7 O$ y4 U6 n% i% ~) `
    Saint John       141,200     142,900       -1.2%           -           -
' N9 o9 \3 H+ C' T9 k    -------------------------------------------------------------------------
0 u/ k- V  T" ]: f    St. John's       143,667     142,667        0.7%     200,667     202,333" ?/ h5 X/ @4 F) u# f9 c7 E& i; k, A: O
    -------------------------------------------------------------------------0 B5 D- _* H0 }+ m
    Atlantic         150,240     145,380        3.3%     175,833     173,583  a1 E3 A' I* M) q$ O. h' {
    -------------------------------------------------------------------------
+ v/ _  k) E( U7 F- m8 [    Montreal         213,691     203,500        5.0%     321,141     316,185! W( Y$ }2 t5 f' E* V
    -------------------------------------------------------------------------; c& @/ t# v; u8 f- E3 `  l$ G
    Ottawa           290,083     278,417        4.2%     285,667     273,250; W/ C- m: ?  }: N. g. ~
    -------------------------------------------------------------------------
7 N. d9 e( W. N5 b- b$ K  u# C3 ^4 A1 ?    Toronto          373,368     355,882        4.9%     481,523     474,7662 u1 ]1 p# i. I. k
    -------------------------------------------------------------------------+ s# c1 ^5 e* S; E; O" E& W
    Winnipeg         181,579     159,860       13.6%     202,337     180,707$ A, Y6 m+ _7 K' P) X
    -------------------------------------------------------------------------( T; j! Y; H3 Y( N% B+ K
    Saskatchewan     170,667     156,083        9.3%     182,600     166,500
, C0 D- C0 M* @, k    -------------------------------------------------------------------------
8 z. h& J* d- Z4 O; P8 S& b    Calgary          395,067     252,411       56.5%     405,778     264,389
, K0 F6 f6 v. W  @8 _2 O' d6 w( f    -------------------------------------------------------------------------) g9 z4 F- z5 }7 t
    Edmonton         286,857     194,857       47.2%     316,429     206,714/ p" _# ?) O: l+ a9 O
    -------------------------------------------------------------------------
. \7 P) E) S* N* O    Vancouver        704,250     601,000       17.2%     794,000     697,500
) F* T/ h7 d. o* a, `9 N  L    -------------------------------------------------------------------------
6 C3 Z% o4 n# W0 i7 A    Victoria         375,000     348,000        7.8%     403,000     391,000
$ a# W8 w4 O' A. A/ R4 ?* p    -------------------------------------------------------------------------( P3 b. v9 D# b9 x3 K( W6 V8 E
    National         300,365     258,202       16.3%     365,380     322,860) g% m, q; q& N" j, n
    -------------------------------------------------------------------------
  l! X; t# c! E, Z
5 Y' v! I, P! e. a    -------------------------------------------------------------
. |6 y" J$ B! c/ @& M. c                               Standard Condominium$ U; D) y4 P( w$ h! L  P
    -------------------------------------------------------------3 v+ D) l' j- D1 l! J. W4 v
                    2-Storey     2006 Q3     2005 Q3       Condo
3 U% Y" z2 L2 s" O    Market          % Change     Average     Average    % Change/ M: h& h9 B4 ]1 d
    -------------------------------------------------------------
: K& c& ^. f# O# }& S5 h    Halifax            -0.2%     142,000     103,000       37.9%( F9 @7 T# [1 Z7 ~  r( R
    -------------------------------------------------------------; N; L- L$ p* `& W
    Charlottetown       2.9%      98,000      98,000        0.0%
1 f4 J  _. V! V    -------------------------------------------------------------
' Q: f7 Q9 q7 ?: }* W$ M7 V    Moncton             4.9%           -           -         N/A& y9 L3 N/ o/ G" E. Q2 }* E% L
    -------------------------------------------------------------; w: Z1 ^! r0 W! S) `: I, ~; D; W8 I
    Saint John           N/A           -           -         N/A
1 B% X1 m' X7 g6 [1 x7 T' }    -------------------------------------------------------------
. x0 M: R7 D/ z' |2 ?5 H2 G    St. John's         -0.8%     146,333     145,667        0.5%7 N" M) a8 h+ P4 ]. l5 g
    -------------------------------------------------------------& n4 ^! s" D) K5 N
    Atlantic            1.3%     128,778     115,556       11.4%4 A- N6 _1 Q) L$ Q6 B5 E* W
    -------------------------------------------------------------" k5 }3 I9 P8 r
    Montreal            1.6%     193,190     188,016        2.8%% w& S: b6 ?' Y  ~; d, L% ?
    -------------------------------------------------------------7 u+ h3 c% V& f. K  Y
    Ottawa              4.5%     181,083     172,250        5.1%7 v, A& t# h5 i& X% x  \1 b; x
    -------------------------------------------------------------% o6 O, l' M$ M& |1 X
    Toronto             1.4%     252,088     242,918        3.8%2 X: S1 p& g. C  z
    -------------------------------------------------------------2 d5 n0 W" F* ?5 `
    Winnipeg           12.0%     105,648      96,008       10.0%
8 E; [  N  k) D    -------------------------------------------------------------
1 L  y; D& a0 A3 Z    Saskatchewan        9.7%     106,250     101,000        5.2%
+ P. |& W; L* e, @+ A1 v    -------------------------------------------------------------9 E, q4 ^' u7 V, L% W' X9 G9 E1 ?
    Calgary            53.5%     245,844     153,867       59.8%( C. n( K; h8 D$ U
    -------------------------------------------------------------
0 E6 q- T) e7 p9 g" h    Edmonton           53.1%     200,433     131,500       52.4%
" u! d2 e8 T' b' I    -------------------------------------------------------------: T/ f2 T- s( y5 w* k" b; c
    Vancouver          13.8%     366,250     323,250       13.3%; y+ T% C& R) t8 P4 d* e( Z: q( k
    -------------------------------------------------------------
0 l, b. p/ v+ q1 x  Q, }    Victoria            3.1%     229,000     220,000        4.1%
, |& f1 x# G4 |% G# d+ S+ Y0 t, j    -------------------------------------------------------------
$ [+ q' g$ a$ n* E. V    National           13.2%     211,562     185,296       14.2%
! L* c3 S* l  q2 `5 q5 S    -------------------------------------------------------------( E3 A5 \" V) A% t# |
    >>. V, h2 h6 `7 D. f* M
6 N0 i8 ~# k: z1 x
    Average house prices are based on an average of all sub-markets examined
$ C- ~5 U  J! [& @  ^5 d: n: min the area, except for the smaller markets of Charlottetown, Moncton, Saint, }3 J5 k3 E# @# Z& w8 n
John and Victoria.* L. `+ R7 t- V  A

) `0 r% c: [: E1 }3 V! L; {    The Royal LePage Survey of Canadian House Prices is the largest, most
' T" o# \1 V1 s8 P8 y3 q4 ]comprehensive study of its kind in Canada, with information on seven types of3 E4 [% z9 @* u/ z( ?2 ^
housing in over 250 neighbourhoods from coast to coast. This release
; X5 b8 U; ~/ M: E7 x0 n; L3 {references an abbreviated version of the survey, which highlights house price6 Q8 @( C* D  H5 c1 k: e! C
trends for the three most common types of housing in Canada in 80 communities2 u; g8 y( E) O; i4 R0 U
across the country. A complete database of past and present surveys is
8 M, y' T! R5 q! R2 q! W2 ravailable on the Royal LePage Web site at www.royallepage.ca, and current, ]% I; Z: j8 g4 o
figures will be updated following the end of the third quarter. A printable& D7 n% o  y) r! Y* W( j
version of the third quarter 2006 survey will be available online on
/ L, l8 i  i4 U- c2 J& eNovember 15, 2006.
& l& w9 x$ W/ \2 _; h6 P    Housing values in the Royal LePage Survey are Royal LePage opinions of9 N; ^& c# _$ g' T) `+ ^
fair market value in each location, based on local data and market knowledge1 }. _2 j: t$ O& N' h
provided by Royal LePage residential real estate experts. Historical data is$ v1 u! D1 v! e) E8 f6 L8 B
available for some areas back to the early 1970s.
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