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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 $ |3 ]% g* G6 L& d  r- s+ x! [. ?

5 t$ x+ Q0 {* f( P/ r7 `- Country's market poised to show growth throughout 2006 -; f) H8 p- R8 y" O4 z" H

/ V( r8 p7 _$ X" S9 s- {4 T7 ^  c. m    TORONTO, Sept. 28 /CNW/ - For most of Canada, the housing market
& @" T/ L# S; v1 g8 Pexhibited moderate price increases and stable unit sales during the third
3 J+ V5 A5 j) e' |3 u* z, ~quarter. Wide regional variances continued to be the dominant characteristic
) F2 C, w2 p, [" J) p5 ein the market, exemplified by frenzied levels of activity and double digit" c+ q1 D! ^1 |  f# ^5 B
price gains observed in the energy and commodity rich Western provinces, and
6 x8 G  Z- Q; A* r# l" |, omore reasonable sales volumes and moderate price appreciation in Ontario,$ R; W4 D6 H" X5 D6 g$ q3 P# }
Quebec and Atlantic Canada, according to a report released today by Royal
) F1 u& U% P* M) S/ DLePage Real Estate Services.
, e) r& v6 W# o- G# Y8 O$ K/ n3 B5 U0 B, V" d6 p2 P
    Nationally, market trends established through the first three quarters5 |  Q3 s, m0 G, m) Y  H
are forecast to continue for the remainder of the year. Robust economic
5 s/ G- e$ A2 _7 h- h' Vconditions, low unemployment rates, modestly growing salaries and wages, and
2 J/ q" T7 y/ c" K" ~sound consumer confidence contributed to the overall strength of the& R2 u; w' y* |. v/ u& p
residential real estate sector./ ]  S0 U4 V+ }% U. Y3 M& p
1 P! v0 W. t; i3 B$ F* _
    Of the housing types surveyed, the highest average price appreciation8 u! }8 ~1 f2 Q6 l  T# Z
occurred in detached bungalows, which rose to $300,365 (+16.3%)1 B9 c/ V6 L0 g
year-over-year, followed by standard condominiums, which rose to $211,5627 o8 z0 Z; H6 r3 T* k
(+14.2%), and standard two-storey properties, which increased to $365,380
" U, }# I/ D2 x6 ^# |0 C3 G(+13.2%).
4 l4 T  S  O1 u  z4 x5 \2 }  |2 j$ g8 t, S2 ^) Y* C+ J+ V
    "Canada's sturdy housing market continued to demonstrate steady growth  v& @+ Q' y; x$ ]
during the third quarter. For all but the west, we have moved on from the
% t: u# _0 f; ^+ P/ @# c2 i! Cfrenzied expansion that characterized the first half of this decade, and are
" v( l; W4 c* O* a% f2 l; rpoised to show continued growth at a more moderate pace," said Phil Soper,
& n1 x, {" T+ n* Spresident and chief executive officer, Royal LePage Real Estate Services.
$ p7 V9 b8 G; a/ \5 H"Gone is the sellers' market that we have lived with for some years. We! r% J- S$ _6 B" I9 D4 R5 ^7 A
welcome the more reliable conditions that are characteristic of a healthy
5 b! z0 c; d7 H2 Jbalanced market."
1 ~" @9 ?- t% x& @$ b) r9 Q" m0 |3 w& K  i2 {* i4 z* ?) V
    Despite the double-digit rise in average national house prices,
4 E- D2 Y: O5 Fconsiderable regional variances were exhibited again this quarter. The shift0 M* ?  ~5 b, U% G9 E
to balanced market conditions, which began in late 2005, has continued
; R( ?" l- Y* r. S3 M% rthroughout most of the Central and Eastern regions of the country. In the core
8 z" f' l, b; ~. a6 Q" S0 }  k4 Uenergy producing western provinces, the combination of very high in-migration,
  H5 d& {( ^1 x( ?manageable affordability, and a shortage of inventory has driven record9 }4 |# I; |) i$ P+ c; `
breaking price appreciations.' L; `' S* ^! I9 W

# Q7 b. ?3 x! r    Echoing the second quarter and supported by Alberta's rapidly expanding
- l8 K" L! ]9 m2 E. teconomy, Calgary and Edmonton led the charge of Canadian cities with the2 L. ^, o, d; @$ u
largest house price appreciation in all housing types surveyed.
! g1 i; o* p) R: ^: _0 O! v* W. E" ~9 d
    In Ottawa and Toronto, growth remained steady, supported by solid
) J7 B2 B7 a* n" Z" D6 ?economic fundamentals, an increase in available inventory and strong consumer$ u& g; ]6 a3 X7 I3 |7 _4 L
confidence. While the pace of price appreciation in Ontario leveled off9 q4 ~- ~7 H0 k: V& U& C" d2 l
slightly, the province's real estate market remains poised for modest growth.4 H/ l" h+ g9 _
In Atlantic Canada, new housing and condominium construction offered buyers4 {3 m1 v- O7 n$ P9 |
greater selection at more competitive prices, resulting in a slower rate of
$ [0 |* n; L/ R* {1 O9 |0 P/ Aprice appreciation when compared with 2005.! _8 C& D* Q8 |% E8 P0 `/ R
# |: V2 n# i8 U2 n; b
    While the pace of growth in Canada has slowed, the domestic housing% W8 @2 S3 c- ]" g0 C$ x
market is expected to outperform the American market. The economic and
$ ?" p) n: }0 b4 s! S6 y* nfinancial fundamentals driving the residential real estate sector in Canada
" j& N2 L% ?- V8 I0 `' }$ }are markedly different than those found in the United States.7 S$ v2 c! A, W! m1 i1 ]+ Y

8 k1 v. _! h4 g1 I1 w" |* h6 R    Added Soper: "Canada's housing market is likely to outperform the
  u& S6 q1 b- w; R. FAmerican market through 2007. A number of factors are working in Canada's
4 i; Y- ?* O; `  `favour, including healthy personal and governmental debt levels, the
3 D! l# v9 Z4 @/ J5 t& \$ yrelatively modest rise in interest rates in our country, and general
, d7 k7 h% s! r% H  B3 Paffordability in our major cities. In addition, Americans are now seeing the# k, Y" p* K; _" U" y0 ^
downside of a tax system that encourages maximum homeowner leverage, and6 h% A+ E3 ]$ v0 o
aggressive financial products such as zero- and negative-amortization3 T& t7 v4 o! i# A# }1 P& |+ b& \
mortgages that work only in a high price growth environment."2 o/ c; z3 i5 T& \! `( p
2 c( ^) v9 P2 Z' y( I% G. @+ t5 p9 C' G
    <<
3 m. b3 }. L* s$ |- i( J                             REGIONAL SUMMARIES% N4 ~1 n7 C& ]$ }  g2 g
    >>8 j4 a# @: L' O+ @

2 T& N$ L% W1 y! A5 m* x    Balanced conditions continued to characterize the housing market in( w1 M9 _8 Q# ^; o& w) W
Halifax, as significantly higher inventory levels helped to moderate the rate
. {/ u% c, U5 _; [3 {+ b; i1 sof price appreciation. Buyers were increasingly choosy, taking more time  u, ?  D3 R7 i% @* j* T  U
looking for newer, low-maintenance properties that were not in need of
. X# o  F( L9 B# t5 frenovations.
3 x' h; T# }7 B+ n9 E. l5 L' G/ F6 Y9 M4 K3 R. I  P8 i
    The housing market in Moncton remained healthy and strong as a slight
! G: n6 Z$ M+ |! W! A5 _increase in inventory helped to moderate the rate of price appreciation
% d' h4 u6 e3 p8 u# R5 ^compared to the same period in 2005. Activity was brisk throughout August and
2 d. E* Y1 J  C# l, p$ D7 P( CSeptember and is expected to remain this way through the fourth quarter.
4 Z  A# V# e' F1 f9 Z" b% d( I
% ^7 N3 ~$ [: k( d$ ]1 `4 L    The housing market in Saint John underwent its traditional summer. E5 M; A9 Y+ {" e
slowdown in the third quarter, with activity picking up towards the end of the
2 h& u& k& k( e9 W1 Jquarter. The local economy continued to thrive, as construction on a new7 g  y. w7 h  x/ }
600,000 square-foot shopping area has begun, bringing several new box stores
, S4 k% h5 B8 L8 A; {9 L0 _& K6 c; Cto the area. Buyers have begun seeking less expensive fixtures for their homes8 Y! z' W/ y; v# H  S9 A
and are instead opting for more affordable housing options., ^6 X6 w! p' Z$ _# ~$ Y* p

& M! |+ K/ Y. n    In Charlottetown, the housing market started to move towards balanced9 j& b3 z% D0 X2 `! [$ q. S/ U8 j  }
conditions, as some sellers had to begin to lower the asking prices on their
; U7 g" f2 v. f, o0 o; B. {- yhomes to make them more competitive. Activity from out-of-town and US buyers/ W" x1 D, v0 d9 ]/ V
was down slightly compared to 2005, likely attributable to the strong Canadian
& s) W7 r, z/ _, d. Vdollar. Inventory levels began to creep up in the third quarter, providing* B( |0 t5 `1 ?* i- ?
buyers with more options when looking for a home.
- d5 ]; l" U" q6 _+ w' A* |& w$ P" N/ Q& g
    Activity in St. John's slowed slightly in the third quarter, particularly
2 N7 ]9 n* d& U9 O  iamong higher-priced properties, where there was a slight over-supply of homes! r, ^. z  a: ]  f! n/ D, o! ~! w
priced over $200,000. Listing periods have increased when compared with 2005,. X  h( [4 w! Z5 q3 X
as some of the pent-up demand that had characterized the market over the last3 q5 L. B/ U- U; J- B2 i
few years has been satisfied, resulting in more normal, balanced conditions.
+ i. B9 S$ A: G; i9 I# \  ^# ~, }0 k! h" b: ?( A
    Montreal's housing market recorded modest increases in average house$ K9 v6 Y: w% [+ k8 e; h. D
prices, due to a slight seasonal slowdown in the third quarter as inventory% ?8 [* S" b1 ^. Q8 [, z6 L
levels rose. Part of this can be attributed to the fact that many renting
+ W5 K( M" F: Cfirst-time buyers were motivated to close on the purchase of a home by July 1,3 E& L+ n6 s2 o- z' s" O
when rental leases expire in Quebec. Once this date has passed some of the
; r! c" s! Q$ l( _( G7 cpressure is taken off the market, allowing buyers to visit more homes before
7 C; f3 }! u  n6 x% W3 A2 dmaking a purchase.
* H/ s+ e# @% v" s% t) G' E" @5 q% F5 d3 Z
    Ottawa held its position as one of the country's most stable housing
% C8 h! L* q8 d& emarkets in the third quarter, reinforced by a vibrant local economy and strong
* F  i# X( [1 i6 K+ Z  wconfidence, resulting in modest increases in average house prices. The city
, D- ~) J: w  j2 y' ?centre remained a bright spot in Ottawa, with homes in this area attracting
/ y3 p! P, |& u  kattention due to their convenient location and proximity to downtown
& \/ m9 ]/ `2 A# {+ I, C  d/ ?amenities.
6 D4 j' ]( l' q( m; p9 n0 f4 v5 o1 _$ N& s9 N- Q, \( T5 t
    The housing market in Toronto sustained healthy activity levels
# s1 Y4 I. u; k7 Rthroughout the third quarter, as a strong economy helped to maintain demand
* {% o9 M8 V3 n& M: racross the city, causing average house prices to rise moderately. Toronto has: w8 x: E4 U* F  r6 i
continued to experience modest growth in average house prices, and has been. v- E  q3 s5 V
driven primarily by purchasers who are buying homes as their principle
# |2 i2 e0 r/ z; presidence, rather than for investment.* c/ w$ X0 {! M- I

$ X8 S: j/ u# r2 O, n- a& v    The vibrant Winnipeg housing market continued to show its strength as
/ ^8 j( H, a; B2 E$ D3 _5 h' w- Thouse prices rose during the third quarter. The booming local economy resulted
9 o7 E% k: V) |4 V9 m8 u$ V4 _in a historically low unemployment rate, helping to bolster consumer. Z% k- B# I- b
confidence and Winnipeg's ranking as the city with the lowest capitalization
8 {! x' Z8 a6 i. Mrate among the country's larger cities - helped to encourage buyers to enter
8 ?; O* i; G" W3 U6 T- cthe market.
$ C! G& p1 ?( J" {7 m+ Y8 \6 S6 d% I0 O! c1 s
    In Regina, the market experienced a slight seasonal slowdown through6 v/ L7 r8 G* Y! K2 D
July, as there were fewer purchasers in the market due to summer vacations. In- R, F( r) D  k0 T, l. n6 S$ r/ L+ P
August, activity resumed to the busy pace previously seen in the spring% V# W, r1 U3 d7 }
months, as the influx of purchasers made it more difficult to find a home due  N6 v- r2 u; ^) I! n1 p0 s
to the shortage of available inventory.
0 L$ C- g4 G8 k6 \- b
7 q0 I% P+ t% p/ a, g. W    Activity in Saskatoon remained brisk as the market maintained its
% \. j3 i6 \. x# x8 o0 ~8 F$ kmomentum from the busy spring sales period. The economy in Saskatoon remains5 v6 Z+ h2 N7 @2 e3 @
vibrant, as employment opportunities are abundant with many businesses
' V3 r: X# l8 W' M" k6 B; _struggling to make hires and having to recruit outside the province.
- o& e5 d7 t2 `
2 ]; m: Z2 e5 P3 z( u8 y    Calgary's housing market recorded blazing average house price increases; O9 {: n6 Q8 Q) H; C
in the third quarter, in all surveyed categories. The burgeoning economy, low: E- D- `% |7 `! f( d
unemployment rates and low inventory levels remained the leading factors that
. o% r/ I8 A$ t3 a& spressured Calgary's house prices upwards. However, regardless of the soaring. x, t* w4 O( H$ j0 `  \2 K8 D
prices that characterized the market - even during the typically slower summer* G. `7 O+ `* r# c# {2 d) D  c0 t) Y
season - it is expected that activity will become slightly more balanced, as
6 p+ F& ^+ r+ l- D1 r) j" [buyers are becoming more reluctant to participate in the frenetic activity.

" o$ _3 Z8 }: w9 P3 ?( M8 }8 L, z! F; T3 q# D1 ?7 M5 H5 J
    Edmonton's booming local economy continued to thrive in the third quarter
" B3 O4 q* O7 {  Las activity in the oil sands north of the city continued to flourish. Edmonton
; P7 a8 j5 d: A& J3 P, e: dremained the hub of activity for those coming to work in the oil industry,2 ~$ _2 N( y8 p) j  ^% c9 }
maintaining tight inventory levels across the city, resulting in prices1 @/ O- b# _6 ^
increasing at record levels. However, as inventory levels continued to improve. m# v, }. I$ I3 L, v. ^+ Z8 [
in the third quarter the rate of price appreciation should moderate slightly0 F0 w0 R1 Z  {- H3 L, z( x3 H
towards the end of 2006.
    2 |& R8 I. v6 S0 h9 ?, B
5 C& F6 ?0 r1 `1 A# N
While Vancouver has seen a slight reprieve from the severe shortage of
  G& r7 ]8 }' Hinventory that had previously characterized the market, supply is still unable
0 s0 m( C! R0 t5 W7 hto meet demand, driving house prices upwards. Vancouver has a very diverse
! X$ q! r7 F4 k, |! V" e; Y5 dgroup of active buyers - from first-time home buyers to baby-boomers to0 v9 s% ~1 h! @
foreign investors - all of whom fuel the demand for houses, placing added4 z+ B8 S# \& v3 U0 P- [
pressure on tight inventory levels.
$ P& _6 I- B! i  p( j* A6 z- c, f1 u
    Victoria's market is vibrant and supported by strong economic
5 i& m: X- }* E5 ~fundamentals, fuelled by a booming tech sector and a migration of young people# R% _: _$ h& o. [: _+ H7 @3 v
into the city that has continued to support the area's house price increases;" n% x0 b% |# K5 m: p& g
while increased inventory levels have afforded buyers more time when searching# y) d# O3 q/ D. y$ B4 U$ P' H
for a home, helping to normalize the market's pace.- t, z1 G4 n; I7 q4 k
  k; [6 F3 m/ _+ M8 g
    <<
2 G& \# Z* P/ ]. z: i& p" @( m! A% B      Survey of Canadian Average House Prices in the Third Quarter 2006
/ U- C* u  b3 P3 x3 e
3 \* K7 H* D3 }% u, I- S/ o0 ^    -------------------------------------------------------------------------5 b: c6 W0 ^  ?/ W" h) V
                 Detached Bungalows                Standard Two Storey
( v/ b8 r- G) ]8 S    -------------------------------------------------------------------------
& l' ~& j9 Y3 \4 t                     2006 Q3     2005 Q3    Bungalow     2006 Q3     2005 Q32 B. i% w* [1 L5 `$ V0 k
    Market           Average     Average    % Change     Average     Average
9 ?9 B  o$ B6 m; C    -------------------------------------------------------------------------& n+ b( I% v) V1 U2 Q
    Halifax          186,333     173,333        7.5%     198,667     199,000
. W, c0 l; h/ i1 x    -------------------------------------------------------------------------) u- S" p3 ^0 Q/ [# W
    Charlottetown    145,000     141,000        2.8%     175,000     170,000
% p! U) `' U  ]- V$ e  a+ \    -------------------------------------------------------------------------
7 T1 T. O2 ]9 ?, o  O0 P7 G3 A. c+ X+ p    Moncton          135,000     127,000        6.3%     129,000     123,000$ E  o) q* P7 g
    -------------------------------------------------------------------------
- O" Y; X2 I( p    Saint John       141,200     142,900       -1.2%           -           -
) m- b# q, U: V% Q+ a    -------------------------------------------------------------------------# C: N+ N8 l: q- s* Q  ]: X
    St. John's       143,667     142,667        0.7%     200,667     202,333/ c6 i, b$ t7 a2 A; A2 S
    -------------------------------------------------------------------------% l8 M$ @, a- @, _# k; F
    Atlantic         150,240     145,380        3.3%     175,833     173,583
# k7 m8 y, _$ B# l4 g    -------------------------------------------------------------------------
' [" h9 D3 v- w    Montreal         213,691     203,500        5.0%     321,141     316,185* Q& O; b# X$ E3 g# k5 }
    -------------------------------------------------------------------------3 l4 z) s. \, w: A' R. i) q# M
    Ottawa           290,083     278,417        4.2%     285,667     273,250% E& g( R: m6 t3 A% A6 u
    -------------------------------------------------------------------------
! Z0 i3 c. }7 e/ u4 `0 I; A    Toronto          373,368     355,882        4.9%     481,523     474,766
, Z' d, a  }4 U+ Z8 o( l; ~    -------------------------------------------------------------------------
$ A3 |& S6 l3 Q, }    Winnipeg         181,579     159,860       13.6%     202,337     180,707
5 x# J+ M7 V$ }5 V! f    -------------------------------------------------------------------------2 h9 e5 m/ n( S8 B, i: y2 s; w
    Saskatchewan     170,667     156,083        9.3%     182,600     166,500: f7 ~1 p1 a4 a: `
    -------------------------------------------------------------------------9 e! b1 k, f  O" c  \% ?2 x
    Calgary          395,067     252,411       56.5%     405,778     264,389
1 J$ D* e; R) n; l$ n. V    -------------------------------------------------------------------------
( j# W  Z$ l8 g% _) \6 h    Edmonton         286,857     194,857       47.2%     316,429     206,714
( s/ v* c! `9 E6 ^' B& U7 }6 d# |$ M    -------------------------------------------------------------------------7 \; B$ ^9 ]6 ]- \) R, e* b, y
    Vancouver        704,250     601,000       17.2%     794,000     697,500
- [) v/ q& K+ ?2 Z    -------------------------------------------------------------------------
( K( b! I/ B) Y! p& S5 b    Victoria         375,000     348,000        7.8%     403,000     391,000) ?( M# I8 n' ?* Z  i' T$ I9 H
    -------------------------------------------------------------------------
# A& p; K& e! \( I    National         300,365     258,202       16.3%     365,380     322,860
  I* f) d2 K$ G* P* R    -------------------------------------------------------------------------
8 P% e) G3 ^" p8 j8 Z( e, Z% ~) p
4 J$ ]* J) R/ Z6 S& u# Y. d    -------------------------------------------------------------" ^8 y. a$ M6 J5 g2 ?( p
                               Standard Condominium; Y1 G& }: l. S: e( @
    -------------------------------------------------------------4 o6 `  l, H* r& g3 c3 H7 V- V
                    2-Storey     2006 Q3     2005 Q3       Condo6 `5 x, [6 X9 s7 O: h3 E  v4 y! n
    Market          % Change     Average     Average    % Change
3 {3 d* t) H8 W) |    -------------------------------------------------------------
9 E) y2 L% ^: b. }7 d# X# F    Halifax            -0.2%     142,000     103,000       37.9%4 v" h: g- T" b
    -------------------------------------------------------------* ]% u+ {2 G9 O7 l
    Charlottetown       2.9%      98,000      98,000        0.0%
7 r" b+ g2 Q+ }3 ]3 J8 ^" x# e' W    -------------------------------------------------------------
/ x3 e* b' i& ?( {    Moncton             4.9%           -           -         N/A
, x) @2 }: V& Z  H6 u( X# u7 a! C    -------------------------------------------------------------
: G; \4 F4 b, z5 S# x) W    Saint John           N/A           -           -         N/A5 p( P/ U+ [3 \6 k- a
    -------------------------------------------------------------
# j7 a8 N- x0 B8 a# U) D    St. John's         -0.8%     146,333     145,667        0.5%
# V% z6 X, |8 d' ~$ E0 e    -------------------------------------------------------------: `3 u9 m  G% B8 ]+ [$ r
    Atlantic            1.3%     128,778     115,556       11.4%0 ]& `( _" y! ]3 H! Y. F3 Y
    -------------------------------------------------------------" R! y, h0 c' \  Z* C- |! X* K3 u0 q
    Montreal            1.6%     193,190     188,016        2.8%
8 w3 s; B* q1 p) Z$ E) R7 {+ L    -------------------------------------------------------------& \3 @  ?6 `; H8 e& D# ]3 ^
    Ottawa              4.5%     181,083     172,250        5.1%
9 F, Y( T+ U) u* W2 K    -------------------------------------------------------------% X. _$ q! W+ A, ^$ i
    Toronto             1.4%     252,088     242,918        3.8%8 }% ]  A  \+ Z$ q; G
    -------------------------------------------------------------
! ?+ _/ Y& n7 H# Q9 c  r' g& ]    Winnipeg           12.0%     105,648      96,008       10.0%
  P- G* \! x, S    -------------------------------------------------------------
; C1 p0 }+ ]0 B' f0 u: @4 L; i+ k    Saskatchewan        9.7%     106,250     101,000        5.2%2 ?+ i, m* `1 o: v/ ^. A
    -------------------------------------------------------------
7 A! h# Q) `% F% e- Q2 L+ [2 e    Calgary            53.5%     245,844     153,867       59.8%, [/ k9 t% B: R7 \1 c& n) Z! w7 T: }
    -------------------------------------------------------------4 s: S  M) H  [  G& \5 S
    Edmonton           53.1%     200,433     131,500       52.4%
( v1 r+ P8 i/ U9 ]    -------------------------------------------------------------
: ?- P8 z& @; O% i+ N7 Z& Y* b( J" e    Vancouver          13.8%     366,250     323,250       13.3%0 i  ^2 l' Q) a0 V9 b+ H1 D% i
    -------------------------------------------------------------1 t' Z% {% Z; D1 I3 Z+ Z3 P. o
    Victoria            3.1%     229,000     220,000        4.1%  Z. ^9 L# W/ |+ r2 g& ^' v" k
    -------------------------------------------------------------& I) ]0 R# T- {, w3 @0 J
    National           13.2%     211,562     185,296       14.2%
& g' S+ B7 u+ M; W& b    -------------------------------------------------------------9 g9 [3 v! S- r6 y: F3 l
    >>
; Y, j( r$ p# {3 q/ R+ b7 o4 o0 y$ c, ^9 y" m5 [# u
    Average house prices are based on an average of all sub-markets examined
: e4 L- [/ `; A4 K* v- G5 Q8 min the area, except for the smaller markets of Charlottetown, Moncton, Saint
( ~, K7 c$ B) G1 P: `' w! AJohn and Victoria.2 ]2 @; b+ t5 j

6 o, t$ B: o7 l  S- }    The Royal LePage Survey of Canadian House Prices is the largest, most
# j: v/ V8 U' x9 `1 B- L4 O. Mcomprehensive study of its kind in Canada, with information on seven types of
- N8 u, ]1 [  Xhousing in over 250 neighbourhoods from coast to coast. This release" Q( T  `9 Z5 j$ i+ a' g, e8 s$ z+ E
references an abbreviated version of the survey, which highlights house price5 @) A1 {' Y0 n. r- s" V  B6 J
trends for the three most common types of housing in Canada in 80 communities
) ?* R7 d, L! _8 I9 M. `3 oacross the country. A complete database of past and present surveys is
% n7 k) c" \( Q$ s/ vavailable on the Royal LePage Web site at www.royallepage.ca, and current
0 l2 W) b0 C( W3 `8 Z7 afigures will be updated following the end of the third quarter. A printable9 u; j3 f6 A9 ?2 k$ l0 H2 ?
version of the third quarter 2006 survey will be available online on
* r# t3 X( s3 u0 e! i5 h( k6 `% mNovember 15, 2006.2 ]3 V% h8 X, N8 h9 O; w% V( Z
    Housing values in the Royal LePage Survey are Royal LePage opinions of( u1 A8 \- h& A/ a0 I- ~5 w; L
fair market value in each location, based on local data and market knowledge* h6 {$ {2 t: A" E
provided by Royal LePage residential real estate experts. Historical data is! v4 h  M; _6 O7 {  R3 g
available for some areas back to the early 1970s.
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