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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 + |6 _  H8 N  |3 S, [) `
! r" {# u, g8 j+ d. \' C
- Country's market poised to show growth throughout 2006 -# j& d4 x8 A1 \

- I4 G+ ~( c- R    TORONTO, Sept. 28 /CNW/ - For most of Canada, the housing market+ V" \: X/ z. W. X
exhibited moderate price increases and stable unit sales during the third: M$ I# Z0 S8 y  x) P
quarter. Wide regional variances continued to be the dominant characteristic- y8 M5 }( F1 f3 g! g
in the market, exemplified by frenzied levels of activity and double digit
% _. i8 S, C0 Q" {, X* tprice gains observed in the energy and commodity rich Western provinces, and
$ s5 A" Y  F3 s; r$ f- R- P, wmore reasonable sales volumes and moderate price appreciation in Ontario,
# P4 C. u! X, \4 ~1 aQuebec and Atlantic Canada, according to a report released today by Royal5 f4 a) b3 @# ?; b4 Y/ A) D
LePage Real Estate Services.& b! k& S3 {  [
- c: T5 D0 S1 l" m
    Nationally, market trends established through the first three quarters; S. @! }" c7 m% a4 }' V
are forecast to continue for the remainder of the year. Robust economic% c) |5 A; f+ f$ g' ~: I
conditions, low unemployment rates, modestly growing salaries and wages, and; I* N" L; \' [9 n6 A  C
sound consumer confidence contributed to the overall strength of the
1 e& u. S( f. |- F" Q( mresidential real estate sector.+ Q/ n  ^& O& N- F, Q* ?( V3 f
6 v  B$ U9 C( q& z: w
    Of the housing types surveyed, the highest average price appreciation
9 V  E4 Y/ u, K4 a  Ioccurred in detached bungalows, which rose to $300,365 (+16.3%)
$ a) r3 a; T) I# lyear-over-year, followed by standard condominiums, which rose to $211,562* O/ B2 n3 w7 Y, i1 J
(+14.2%), and standard two-storey properties, which increased to $365,380* o/ Z+ r6 T8 z7 x
(+13.2%).: o0 Y/ i7 C5 N! m: P
. Q# b2 F  q: D0 q5 n5 M
    "Canada's sturdy housing market continued to demonstrate steady growth
* [% l: D4 ~  z  @- e. q% B, t: |- Vduring the third quarter. For all but the west, we have moved on from the
7 }% u$ ^& H2 Q" S( H; Cfrenzied expansion that characterized the first half of this decade, and are- K; ]+ ~- N' b+ E# q6 b  K) L! R
poised to show continued growth at a more moderate pace," said Phil Soper,
" H5 D2 L0 m- kpresident and chief executive officer, Royal LePage Real Estate Services.
" F4 X2 s. X( y  _7 M2 W5 I"Gone is the sellers' market that we have lived with for some years. We2 f+ O8 _( x. ]; o: B
welcome the more reliable conditions that are characteristic of a healthy
0 {7 ^. ?% q$ v. ybalanced market."
- B  M; T! i; A$ z1 r+ e0 c6 {' N$ L) m- f& H+ w: A
    Despite the double-digit rise in average national house prices,1 a# {4 |9 q7 k3 O: p' R4 v
considerable regional variances were exhibited again this quarter. The shift
# t: R& O9 p3 S  e9 qto balanced market conditions, which began in late 2005, has continued' b. c8 b3 a( L, h) P; I
throughout most of the Central and Eastern regions of the country. In the core/ p7 x& K0 `  E/ E! }/ R
energy producing western provinces, the combination of very high in-migration,' h1 h; c+ L6 @; i/ x
manageable affordability, and a shortage of inventory has driven record
& T0 O* n# q, T5 @$ X0 Q* T! zbreaking price appreciations.9 O. A0 A. }( h& G$ [1 Q
# Q: l% L4 F3 v1 i  d
    Echoing the second quarter and supported by Alberta's rapidly expanding
$ |6 u0 U: }2 }& k4 u5 Jeconomy, Calgary and Edmonton led the charge of Canadian cities with the( K( d6 r5 U2 s  H" L9 k
largest house price appreciation in all housing types surveyed.) b9 l6 J9 Y% j$ u. j5 S! }& q/ u4 O

7 `) i5 C% I5 c# g0 G5 M    In Ottawa and Toronto, growth remained steady, supported by solid
  Z2 U6 k" J4 S8 J1 h* ueconomic fundamentals, an increase in available inventory and strong consumer6 u9 Q) P3 t7 W& _+ O6 v1 b' w
confidence. While the pace of price appreciation in Ontario leveled off
- P  V" K1 f% v3 ?; y, U, y& oslightly, the province's real estate market remains poised for modest growth.. r: X8 E# m' k: a1 f
In Atlantic Canada, new housing and condominium construction offered buyers
& p+ [9 |/ v/ h( Z: K( ~greater selection at more competitive prices, resulting in a slower rate of6 s0 Y; ~! s; D( ^; _7 B; s4 p3 ^8 T
price appreciation when compared with 2005.- v0 q, h* u6 v+ }6 _  A

$ j7 i# Y8 i  C9 U: |; V    While the pace of growth in Canada has slowed, the domestic housing2 L+ q8 h; _  S, m# b- k+ k3 u; Z
market is expected to outperform the American market. The economic and7 b8 I$ @$ O/ V5 _  O! S: ?$ q; I0 u
financial fundamentals driving the residential real estate sector in Canada
# z' l1 ~$ Q; f( E  c4 zare markedly different than those found in the United States.
- ~' i& H8 S$ T9 I4 b
9 h* s; t8 J8 A6 m7 |. Q    Added Soper: "Canada's housing market is likely to outperform the
# F  t0 Z! O( N1 E# J5 O3 vAmerican market through 2007. A number of factors are working in Canada's
! f* Q0 L; `) J+ ?: Vfavour, including healthy personal and governmental debt levels, the! y& A  s$ ], A* d7 ~  G4 ~3 T
relatively modest rise in interest rates in our country, and general( B* {! O. \" a  {& f) j$ v4 j
affordability in our major cities. In addition, Americans are now seeing the& S* ~; i. E6 f6 ^
downside of a tax system that encourages maximum homeowner leverage, and
' w- h) m8 {. @+ Z% g8 Daggressive financial products such as zero- and negative-amortization. x4 k! p( P( N$ X( ]
mortgages that work only in a high price growth environment."3 s% ]5 D; K8 A* i9 O
, A4 y2 j$ A0 s) Q7 h
    <<; G& l+ I; r* [* E( ?9 |2 r
                             REGIONAL SUMMARIES
4 Z2 u9 n2 U# E( F9 K; [8 M    >>
4 A5 R1 {8 e; r$ g9 P0 D; ^. o' |0 O( h  a) Q/ x
    Balanced conditions continued to characterize the housing market in
- A$ B5 X. B( ]/ S8 h# l4 tHalifax, as significantly higher inventory levels helped to moderate the rate1 Y( [4 M* u( v$ w! U
of price appreciation. Buyers were increasingly choosy, taking more time; e" S7 Z. ]) b- l" C: j
looking for newer, low-maintenance properties that were not in need of- v8 F" f2 K0 E
renovations." C6 r. a3 y+ a$ y4 \
% A; O" n- w2 j3 z8 l1 W4 ]4 x
    The housing market in Moncton remained healthy and strong as a slight
& h: G9 v5 O0 A0 Jincrease in inventory helped to moderate the rate of price appreciation
6 z$ Z4 ^* _" i& q) ucompared to the same period in 2005. Activity was brisk throughout August and' k& V# n$ J& ~% O
September and is expected to remain this way through the fourth quarter./ a3 a5 M9 O1 G5 W" B% ]( Z* K, D, E
% k- |/ j. I9 U$ r- c) v: ?
    The housing market in Saint John underwent its traditional summer
1 ^5 a& w2 c1 V# W" `3 _/ Wslowdown in the third quarter, with activity picking up towards the end of the
% r. U: I+ |. O" X" cquarter. The local economy continued to thrive, as construction on a new. ?* N0 g9 a: F' R" M
600,000 square-foot shopping area has begun, bringing several new box stores
* l$ b& I/ R- |0 \& eto the area. Buyers have begun seeking less expensive fixtures for their homes
5 Z; \, e. K5 J1 q$ p* Tand are instead opting for more affordable housing options.
: g6 N# b/ J( n+ n$ R( z8 x0 i8 f0 A  E5 m$ W# L
    In Charlottetown, the housing market started to move towards balanced5 ~. N, t- i/ O# u" Y( A/ C
conditions, as some sellers had to begin to lower the asking prices on their- w  o5 O* x2 b4 G
homes to make them more competitive. Activity from out-of-town and US buyers
: C- K! B) ~- bwas down slightly compared to 2005, likely attributable to the strong Canadian
3 o9 k' p: A7 t& y$ {/ xdollar. Inventory levels began to creep up in the third quarter, providing0 t4 t  f; \" R0 z% Q
buyers with more options when looking for a home.
# e) z2 @0 }5 a: v, }% ^! V, p6 g' o0 x+ q. E1 T# R' U
    Activity in St. John's slowed slightly in the third quarter, particularly
0 h/ m4 @. P+ C3 y6 B5 [) Hamong higher-priced properties, where there was a slight over-supply of homes# Z' D! s3 a$ G9 L# Q
priced over $200,000. Listing periods have increased when compared with 2005,7 H: l( x  V+ p3 f# i9 Z) ]3 P
as some of the pent-up demand that had characterized the market over the last
* a% q; p4 d/ {$ w1 q- h$ Efew years has been satisfied, resulting in more normal, balanced conditions.
6 ]" u4 u9 J" W6 C* e7 m8 B: V; t! G5 b; \! R
    Montreal's housing market recorded modest increases in average house  A/ ^( [# Q. \& k
prices, due to a slight seasonal slowdown in the third quarter as inventory# v9 J9 b. A) `+ n: U8 z1 W& I% [, I
levels rose. Part of this can be attributed to the fact that many renting
2 ?: V2 l- Y+ Ifirst-time buyers were motivated to close on the purchase of a home by July 1,4 d" V) `% X: G( X# S/ o
when rental leases expire in Quebec. Once this date has passed some of the
% z0 ]/ d7 Z! j- _) b0 Ipressure is taken off the market, allowing buyers to visit more homes before
" G! E& M& D7 z6 }0 X  D% @2 amaking a purchase.6 E' ?/ {0 @) \3 y7 f5 G

6 M0 n8 B% J. v1 }% w    Ottawa held its position as one of the country's most stable housing
- E# ]) E" J9 F3 f: h9 M4 H2 amarkets in the third quarter, reinforced by a vibrant local economy and strong0 U- h) h( d5 V, i! X) `, f
confidence, resulting in modest increases in average house prices. The city
  g) o5 s# d5 ecentre remained a bright spot in Ottawa, with homes in this area attracting
; N/ f" K6 S7 W. E# \) x7 D0 Kattention due to their convenient location and proximity to downtown
! G+ Q8 i0 ?. y( Q; d% ~' m3 {amenities.
- X' L# O# ~$ b5 F7 h4 |5 n9 `: y+ U0 y6 w3 _* r) A
    The housing market in Toronto sustained healthy activity levels
, G9 {' q6 y6 U, Cthroughout the third quarter, as a strong economy helped to maintain demand
; l, z( R& V% w0 d' P: macross the city, causing average house prices to rise moderately. Toronto has" g1 ~2 i, r2 ^$ u1 c; D+ [& Q
continued to experience modest growth in average house prices, and has been# {2 D& ~9 y8 P& R5 ?
driven primarily by purchasers who are buying homes as their principle3 \1 n% a8 v8 [+ ~/ i
residence, rather than for investment.
# X% _* W" z" ^: l1 k( M3 ]$ r$ z' H2 c: W% U
    The vibrant Winnipeg housing market continued to show its strength as. _5 o. X* j, j8 H/ q% J
house prices rose during the third quarter. The booming local economy resulted
; m3 }9 C. V4 _0 q* W8 p& xin a historically low unemployment rate, helping to bolster consumer
* b- A$ S+ c4 K' @/ ~. `+ M  ^confidence and Winnipeg's ranking as the city with the lowest capitalization- L* S% o9 I- Y5 m
rate among the country's larger cities - helped to encourage buyers to enter
2 H) d7 }! b2 g! q* x$ ^: n5 bthe market.7 O3 d. `1 ?6 \$ A
* M) E' o, q+ u3 y) T5 w' W; ?
    In Regina, the market experienced a slight seasonal slowdown through
: x" E* X# V/ r$ c9 e" \( cJuly, as there were fewer purchasers in the market due to summer vacations. In
. M8 x! _9 z2 @, ^August, activity resumed to the busy pace previously seen in the spring
( M" R( f4 |- X- S9 Umonths, as the influx of purchasers made it more difficult to find a home due* u; }. P& r; B5 v' ^/ t0 G1 c  R& j
to the shortage of available inventory.
' ^" v9 _2 ~- W, a" l
* c, r! h% S. u    Activity in Saskatoon remained brisk as the market maintained its0 ]* e3 U( y/ p3 v7 h9 K
momentum from the busy spring sales period. The economy in Saskatoon remains
6 W/ u7 _' V# B1 Pvibrant, as employment opportunities are abundant with many businesses: V- S  y; a7 Q
struggling to make hires and having to recruit outside the province." b+ D, `5 I4 W3 f. C; o/ B4 J8 e

7 l; T; v2 [& N+ m    Calgary's housing market recorded blazing average house price increases
: p6 ^( ?! f1 e4 n7 d5 e5 `8 din the third quarter, in all surveyed categories. The burgeoning economy, low
, H: C' p8 h+ _unemployment rates and low inventory levels remained the leading factors that, W3 w. u+ E3 u- E' \" s
pressured Calgary's house prices upwards. However, regardless of the soaring
+ L* r9 J/ g4 o3 U% p$ j1 x& zprices that characterized the market - even during the typically slower summer
1 q1 q4 W" ~4 Dseason - it is expected that activity will become slightly more balanced, as0 S, |: `. x% C* {0 m* [
buyers are becoming more reluctant to participate in the frenetic activity.

% S  h7 `' q3 v5 v, e! Q
/ @" E% W; }5 G# F' U    Edmonton's booming local economy continued to thrive in the third quarter# D6 [0 N/ k& R4 f, s: w0 z
as activity in the oil sands north of the city continued to flourish. Edmonton
/ w: [3 {( K# C! [9 R( N+ \  g" nremained the hub of activity for those coming to work in the oil industry,
' D6 c5 N" ]' q0 d8 Emaintaining tight inventory levels across the city, resulting in prices
# A( A! X& w; f7 C, dincreasing at record levels. However, as inventory levels continued to improve
8 O* b& E9 {9 ^3 ?6 u2 R; z/ k/ iin the third quarter the rate of price appreciation should moderate slightly, o0 U/ g( `* g4 P/ u
towards the end of 2006.
    3 V. v) N1 u( W1 f- [
& y; E/ s; {" k1 i
While Vancouver has seen a slight reprieve from the severe shortage of
" \: t6 N) ^( J9 ?inventory that had previously characterized the market, supply is still unable
: ^2 ?# X1 u1 T! O7 }! Z1 t3 }to meet demand, driving house prices upwards. Vancouver has a very diverse. Y* A; e: i6 ^: o/ l4 e1 [4 W
group of active buyers - from first-time home buyers to baby-boomers to- b  ]4 D! e% _! r& I* H9 O: |
foreign investors - all of whom fuel the demand for houses, placing added; y# W% y% P( [/ H5 h! Z; X
pressure on tight inventory levels.9 v7 E) F, w$ P: J6 }" W
  r. s! v/ N* o
    Victoria's market is vibrant and supported by strong economic7 O3 l) w3 t# N2 _; A! S, F; [
fundamentals, fuelled by a booming tech sector and a migration of young people1 s, ~: z9 E+ _
into the city that has continued to support the area's house price increases;
1 e7 ?7 [# [" b: X2 `7 m% pwhile increased inventory levels have afforded buyers more time when searching* S2 e7 u' V  F, v/ ?
for a home, helping to normalize the market's pace.: |0 c8 N7 u7 i) x3 z0 e( x

. c& ~0 m, b& K/ b    <<
! k3 B: V0 |. [; q7 T9 _! |' x      Survey of Canadian Average House Prices in the Third Quarter 2006+ {3 F$ {- }1 G* Y

& A/ X# L6 [, Q: B    -------------------------------------------------------------------------
, p4 N( s; F% q8 m                 Detached Bungalows                Standard Two Storey* O. H; b4 p' |: T: z, o
    -------------------------------------------------------------------------
. F/ r6 Q4 X% }# i3 A& ?                     2006 Q3     2005 Q3    Bungalow     2006 Q3     2005 Q3
! R) `, ~  M7 |3 ]    Market           Average     Average    % Change     Average     Average
% H3 r  E/ X" N1 S( J+ l. ^4 W    -------------------------------------------------------------------------
. O8 u+ {, d$ Q    Halifax          186,333     173,333        7.5%     198,667     199,000
; X/ a& l9 z1 i; |3 u    -------------------------------------------------------------------------
" P: g2 `: I+ V+ w8 K: b" T7 i- C    Charlottetown    145,000     141,000        2.8%     175,000     170,000
2 R! P- P+ ~  Y# W    -------------------------------------------------------------------------0 p# U. s% B' O: q
    Moncton          135,000     127,000        6.3%     129,000     123,000
3 g  C& J6 A( o% F& f4 c6 g$ S    -------------------------------------------------------------------------( O7 O1 W4 h0 E6 k% k1 b  }1 @
    Saint John       141,200     142,900       -1.2%           -           -
# A9 t" f6 P# S+ v- @7 Q    -------------------------------------------------------------------------
% |. \& Z" v& W6 I4 s+ p    St. John's       143,667     142,667        0.7%     200,667     202,333
6 b* B3 T  ~; w1 K! n1 `+ T    -------------------------------------------------------------------------
# Q; }$ P  h8 Y/ X4 m    Atlantic         150,240     145,380        3.3%     175,833     173,5831 F& ~4 ~7 p! x7 |: {/ j/ i* l
    -------------------------------------------------------------------------
: P6 G7 j) h" o2 p% y    Montreal         213,691     203,500        5.0%     321,141     316,185& q5 }4 G7 Y" o7 t
    -------------------------------------------------------------------------
& d* R% m# I% Q6 H- b" ~    Ottawa           290,083     278,417        4.2%     285,667     273,250
3 X$ Q6 |$ n4 a9 V9 ~    -------------------------------------------------------------------------
( y7 c+ B- i3 g2 w; v& J    Toronto          373,368     355,882        4.9%     481,523     474,766
5 r9 f; E( M- P7 M  K2 U& `$ ?    -------------------------------------------------------------------------
& ]# k( J9 Y5 j  d' O    Winnipeg         181,579     159,860       13.6%     202,337     180,707
8 z/ ~. f: U  ^' }    -------------------------------------------------------------------------) I9 z5 T  m, ]5 {3 ^$ y. r; p- B
    Saskatchewan     170,667     156,083        9.3%     182,600     166,500  h: y/ T, C. ?6 m: K) R& e9 V
    -------------------------------------------------------------------------' \3 D8 ]5 _' Z( ]. X& g
    Calgary          395,067     252,411       56.5%     405,778     264,3890 a' k  f0 l* w
    -------------------------------------------------------------------------. \) f2 H% x( Y: I- F5 ]$ h
    Edmonton         286,857     194,857       47.2%     316,429     206,714
) V( s7 H2 [; i, S- P6 e5 E    -------------------------------------------------------------------------6 n1 }7 A7 e; n0 s* Q, q. X5 u
    Vancouver        704,250     601,000       17.2%     794,000     697,5009 y8 I0 ]- g6 d( o6 |5 l* G
    -------------------------------------------------------------------------6 r* C4 M& w0 p
    Victoria         375,000     348,000        7.8%     403,000     391,0001 k) d- Z4 e( Q, K- {/ m
    -------------------------------------------------------------------------
* x7 z# i& U& p    National         300,365     258,202       16.3%     365,380     322,860* l& g" l0 j; F, T  ^
    -------------------------------------------------------------------------. F# n4 c7 k( C' u# P

& B- Z- c3 _) m& D* E    -------------------------------------------------------------: N% Y3 r, c5 S/ S/ Z& U
                               Standard Condominium
3 g' u+ Z/ R" \5 f    -------------------------------------------------------------* y3 U# {! t2 n+ A% T% R
                    2-Storey     2006 Q3     2005 Q3       Condo
5 ~1 l5 n+ S4 L, ~. h9 _  @    Market          % Change     Average     Average    % Change
  l2 w6 Q, c+ _3 Y' X& E4 p    -------------------------------------------------------------
8 \5 e& e/ Y. |8 V/ c# x    Halifax            -0.2%     142,000     103,000       37.9%
7 I  S# w' [1 J1 Q; W    -------------------------------------------------------------8 D5 o2 c0 Z" E, N' ~$ Y
    Charlottetown       2.9%      98,000      98,000        0.0%! R4 r. q5 }0 F, ]& J) K
    -------------------------------------------------------------
  I8 n; x1 A* B/ u! e9 T/ N3 Y) D5 `    Moncton             4.9%           -           -         N/A
( m) e! O/ P. p' c4 o, H9 V' w    -------------------------------------------------------------
* e# I6 j7 f: E. H" m, C9 p9 {    Saint John           N/A           -           -         N/A, \3 U# b/ p# L
    -------------------------------------------------------------
7 U, U' D& u2 g1 d" r, m    St. John's         -0.8%     146,333     145,667        0.5%9 k1 [* S( \5 O6 ]3 I
    -------------------------------------------------------------) m, v  t0 Q% p/ u
    Atlantic            1.3%     128,778     115,556       11.4%
7 N) j( R) f% {. k! B3 s    -------------------------------------------------------------
- o2 n' _4 T4 _3 |6 v* L/ b    Montreal            1.6%     193,190     188,016        2.8%9 x; G+ i, u3 V6 t
    -------------------------------------------------------------+ q6 q7 @1 J8 [
    Ottawa              4.5%     181,083     172,250        5.1%5 \! ~. _7 I' `8 s
    -------------------------------------------------------------
* Y% G0 n* Q% ?+ O. |    Toronto             1.4%     252,088     242,918        3.8%/ _: p/ p: h" f, j6 O7 j; Y
    -------------------------------------------------------------' P6 _4 ^0 G9 Q0 X" u
    Winnipeg           12.0%     105,648      96,008       10.0%) Y. r2 u) m9 a7 L- r0 s
    -------------------------------------------------------------3 K; {& k/ p: J( b0 E; M# N
    Saskatchewan        9.7%     106,250     101,000        5.2%
+ ?* G7 }& k  p7 V% j: e; h    -------------------------------------------------------------
0 i; a9 \- }5 S# u' G) E/ x9 }    Calgary            53.5%     245,844     153,867       59.8%
) s2 l) z% E$ L/ B5 N; t; D    -------------------------------------------------------------
3 h. w  K3 B5 k+ z: d8 A1 h    Edmonton           53.1%     200,433     131,500       52.4%! D9 t* ~1 A/ e' T
    -------------------------------------------------------------$ z, M8 V2 H$ v1 U6 J# c6 V6 \
    Vancouver          13.8%     366,250     323,250       13.3%8 T3 J+ t- H! s
    -------------------------------------------------------------
+ h( I. u1 l% C' }) V9 [, j3 e4 v8 Q    Victoria            3.1%     229,000     220,000        4.1%
+ n) B$ q$ Z) v, Q; P! k    -------------------------------------------------------------
. W! U) N0 B" {    National           13.2%     211,562     185,296       14.2%1 Z1 o9 P& A( g! m
    -------------------------------------------------------------8 Z+ A5 P6 b. A( T
    >>
+ ~* Y1 Y8 x: b1 D, Y4 `, r
! f3 X5 g, Y! m$ {' m    Average house prices are based on an average of all sub-markets examined  V! o% p( P( f+ V5 G
in the area, except for the smaller markets of Charlottetown, Moncton, Saint' p5 ]: P" H9 \
John and Victoria.! x4 e4 S3 P- i
" |9 r7 k$ c5 y
    The Royal LePage Survey of Canadian House Prices is the largest, most
9 V+ P2 a5 u" b$ }comprehensive study of its kind in Canada, with information on seven types of. G: z4 u2 P' O. q7 D
housing in over 250 neighbourhoods from coast to coast. This release& D$ c& J1 H5 e, P/ w, @
references an abbreviated version of the survey, which highlights house price
8 }# n0 e' R6 U8 vtrends for the three most common types of housing in Canada in 80 communities8 `4 G6 p! W; n7 `5 b: z
across the country. A complete database of past and present surveys is, S( l; G7 P$ L3 j. `& C
available on the Royal LePage Web site at www.royallepage.ca, and current+ y; C. P7 d& y, w+ L9 R6 q
figures will be updated following the end of the third quarter. A printable( {! s6 t9 n' J& A) `, ~
version of the third quarter 2006 survey will be available online on4 o/ d% I( ~5 Z" C
November 15, 2006.
. T8 L; g) H# a7 M6 b; U+ \    Housing values in the Royal LePage Survey are Royal LePage opinions of
; M, N2 f4 C! I$ p7 w& jfair market value in each location, based on local data and market knowledge/ w; A8 {8 ]7 S; T& B, Q- B
provided by Royal LePage residential real estate experts. Historical data is3 Y$ Z3 `. s( {7 C- N) |
available for some areas back to the early 1970s.
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