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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
' Q" m% w6 ]- w
" J$ |! S9 e" ]. J- g  M- Country's market poised to show growth throughout 2006 -* T% X- b2 g/ \) `/ f! }
( i4 B3 D, N# L& O+ I& G3 P2 B
    TORONTO, Sept. 28 /CNW/ - For most of Canada, the housing market' `  e7 g: x9 ~5 c
exhibited moderate price increases and stable unit sales during the third
& o5 J+ a" w: ~  p* Q5 ?6 H. t7 Dquarter. Wide regional variances continued to be the dominant characteristic
6 p' w# H. b1 r5 `2 Vin the market, exemplified by frenzied levels of activity and double digit
. M% N- X2 V9 pprice gains observed in the energy and commodity rich Western provinces, and
6 n7 D2 G7 U0 J1 t( Fmore reasonable sales volumes and moderate price appreciation in Ontario,
/ G  j7 I) J$ o2 e, H& P, vQuebec and Atlantic Canada, according to a report released today by Royal
; D4 K5 H/ b( R+ n% L* RLePage Real Estate Services.
6 `$ `  g! n  \8 X/ N, p+ T( s. S
" F! e1 V- @7 Z$ @4 ]. [    Nationally, market trends established through the first three quarters
/ _# j, p/ z" T8 |/ v! \5 S2 B7 Iare forecast to continue for the remainder of the year. Robust economic" @$ ^2 }0 B+ X4 [6 T1 l
conditions, low unemployment rates, modestly growing salaries and wages, and
% k. P# L; V8 @0 Y9 @4 i9 C6 O5 Xsound consumer confidence contributed to the overall strength of the
2 p; \: s+ H3 G& C8 T4 t, c2 Hresidential real estate sector.* a( |5 J  m0 `( X3 r

6 T, F$ S" I! K2 W4 P    Of the housing types surveyed, the highest average price appreciation
2 P: b4 k( F; I$ r: P3 R; g- K; x  ?occurred in detached bungalows, which rose to $300,365 (+16.3%)* L. v: G4 ^& _# p9 q- d; T) X
year-over-year, followed by standard condominiums, which rose to $211,562* G, y' f! X$ q3 _+ u
(+14.2%), and standard two-storey properties, which increased to $365,3807 v4 Z7 G0 Y, Y2 u  {2 ^7 i
(+13.2%).
8 A3 L; e0 Y6 L1 ~) |+ G# b& M
% Y" d; x; w" h4 s3 w2 N* o    "Canada's sturdy housing market continued to demonstrate steady growth
& S9 [/ S- k6 S; y$ q2 |during the third quarter. For all but the west, we have moved on from the
) J7 g1 j6 r3 ~# e7 ?* bfrenzied expansion that characterized the first half of this decade, and are
' B' S8 ]# A. D; A% @poised to show continued growth at a more moderate pace," said Phil Soper,
$ y1 X( p) I( r& j# \5 _president and chief executive officer, Royal LePage Real Estate Services.9 M( a1 g7 }+ w
"Gone is the sellers' market that we have lived with for some years. We
7 F" I5 R; Z: _, e! H! O& L! [& awelcome the more reliable conditions that are characteristic of a healthy+ V$ ^& ^& \! c
balanced market."9 ~* n% m3 m* |5 W9 c+ D
# L' g, x: ?" {$ O
    Despite the double-digit rise in average national house prices,
0 V1 M0 I+ b7 s8 Wconsiderable regional variances were exhibited again this quarter. The shift3 u3 G) W8 c! a* O# m7 o
to balanced market conditions, which began in late 2005, has continued
% {, P4 B" |( k' \0 M. g8 [5 Z1 Gthroughout most of the Central and Eastern regions of the country. In the core
; M3 P" m1 y. |1 M  q1 y" }& n2 senergy producing western provinces, the combination of very high in-migration,
9 @) J# G7 N1 C+ O( O. zmanageable affordability, and a shortage of inventory has driven record
7 g* P5 M; K7 x# ?" _breaking price appreciations.
6 x; V2 D0 l! y7 ^8 L9 l
# C5 l2 I* @- L" R3 E' m    Echoing the second quarter and supported by Alberta's rapidly expanding
" ~% `! T0 }& q3 j6 l8 R" ceconomy, Calgary and Edmonton led the charge of Canadian cities with the/ O1 T* g% O# b0 N' E
largest house price appreciation in all housing types surveyed., m2 ^  ~8 a* p; U$ l
3 o2 z- U. U  P0 b/ T
    In Ottawa and Toronto, growth remained steady, supported by solid
, j4 P2 }$ n& @. e' A+ oeconomic fundamentals, an increase in available inventory and strong consumer  _. z" L* N" V
confidence. While the pace of price appreciation in Ontario leveled off
& ?: |  ]# {7 Y+ T3 u  a9 mslightly, the province's real estate market remains poised for modest growth.
6 m3 i, _% c/ N  w" d$ CIn Atlantic Canada, new housing and condominium construction offered buyers2 j; x' _) x2 X& ~# r* [
greater selection at more competitive prices, resulting in a slower rate of+ F: v+ v" D' E: \
price appreciation when compared with 2005.
4 k! m2 p" _: O1 q: G& P6 p1 i9 J( D& a- Z5 U, c1 X3 b
    While the pace of growth in Canada has slowed, the domestic housing
2 k4 s8 u" d  j) a, hmarket is expected to outperform the American market. The economic and
" o2 N% _9 _7 ?5 |9 Hfinancial fundamentals driving the residential real estate sector in Canada
/ t5 H1 ]' R; a: O. d1 ]are markedly different than those found in the United States.
! j9 @' ?% s; e. |. d; K& Z" y; [' X( }- ?+ U
    Added Soper: "Canada's housing market is likely to outperform the4 ]* ~  Y9 B5 s/ J7 `  \2 [1 y
American market through 2007. A number of factors are working in Canada's1 A5 S2 L$ _4 X! i; u6 O+ s
favour, including healthy personal and governmental debt levels, the
5 S# M# v. [7 |# ]" h' {relatively modest rise in interest rates in our country, and general
) d+ G: y% N3 k+ Z! }  naffordability in our major cities. In addition, Americans are now seeing the
0 c* O2 _* r+ k3 }4 sdownside of a tax system that encourages maximum homeowner leverage, and
  @1 c: X! ~/ K3 P* ]. a: G& n- Oaggressive financial products such as zero- and negative-amortization
! r4 ?/ A$ ]8 n$ F+ bmortgages that work only in a high price growth environment."
5 I8 L! [+ B! n0 V( h
  W& f4 f9 Y  ]9 h+ q- s    <<  w$ J; Q7 H! q# y* `( Z* T$ N
                             REGIONAL SUMMARIES5 w! ^+ I5 y+ x* F. B" q; M4 v
    >>7 W, X& H& x* v$ r5 h9 c& U9 O( x

; B# r7 H( x% n. t    Balanced conditions continued to characterize the housing market in5 F/ }. Z8 V# T5 L" q1 [
Halifax, as significantly higher inventory levels helped to moderate the rate2 h# f. F7 A3 g" P" }
of price appreciation. Buyers were increasingly choosy, taking more time
! ^5 t2 Y' S2 D' j6 Dlooking for newer, low-maintenance properties that were not in need of- J1 z4 r; H" q
renovations.
! H+ a4 n8 |' E4 r" o8 s% n% m7 `( g! P0 _1 I
    The housing market in Moncton remained healthy and strong as a slight! s' t' C7 T) w% C  g0 @
increase in inventory helped to moderate the rate of price appreciation& k# ?5 i, D* x% O
compared to the same period in 2005. Activity was brisk throughout August and
; B3 n, h1 C  y; }5 q& k. P0 \September and is expected to remain this way through the fourth quarter.9 i. x3 Z- R1 t0 Q+ ]9 k
& ~* U! B" p+ c& C, l. e
    The housing market in Saint John underwent its traditional summer7 ^$ {& x' Q1 D2 K7 H- Y
slowdown in the third quarter, with activity picking up towards the end of the0 t8 z" m3 w" D; G) |# @$ u
quarter. The local economy continued to thrive, as construction on a new
" h( A9 V  X$ W! ?600,000 square-foot shopping area has begun, bringing several new box stores" T9 N. M3 s/ U
to the area. Buyers have begun seeking less expensive fixtures for their homes3 c" G/ N8 i" K" g# j9 d6 n; b: C
and are instead opting for more affordable housing options.
/ w0 O" |& B; S; O! n4 s: a9 c! y) t/ _$ x1 J- n. K/ N7 Z8 ?7 X+ S
    In Charlottetown, the housing market started to move towards balanced
. n( N5 C/ U/ X! uconditions, as some sellers had to begin to lower the asking prices on their
& _5 |7 j1 m' i' S: J8 d2 Z& Q; Whomes to make them more competitive. Activity from out-of-town and US buyers6 l1 C# O/ A! P) ^9 C: `/ {1 W
was down slightly compared to 2005, likely attributable to the strong Canadian; U; y; e7 S; [# u& `; K7 U! L! E
dollar. Inventory levels began to creep up in the third quarter, providing7 f1 V0 c7 H0 X/ C7 F% K
buyers with more options when looking for a home.
0 u2 E1 J- P; c/ g' H& s0 F2 L
+ u) T/ G, {! z5 d    Activity in St. John's slowed slightly in the third quarter, particularly) q: [8 A, |; V0 n$ ?  S
among higher-priced properties, where there was a slight over-supply of homes
3 u" w6 y; z) {$ T* _priced over $200,000. Listing periods have increased when compared with 2005,0 ], L5 i7 Q6 o' I0 Z
as some of the pent-up demand that had characterized the market over the last
& J, S3 B3 `5 `& }6 A$ y5 S: xfew years has been satisfied, resulting in more normal, balanced conditions.$ ~. V% g; ^# \# e/ l1 y$ a2 M

" o4 h. p' V8 S! `    Montreal's housing market recorded modest increases in average house
$ w- e3 q' `6 s5 u$ _  _prices, due to a slight seasonal slowdown in the third quarter as inventory
2 A% z' I% I, H) ?# u" Ulevels rose. Part of this can be attributed to the fact that many renting
. a8 l" P: l2 N2 [5 _) J! Xfirst-time buyers were motivated to close on the purchase of a home by July 1,2 f: S, H& {3 h+ J% H" a
when rental leases expire in Quebec. Once this date has passed some of the5 N9 M. g( H% S3 d5 |: m
pressure is taken off the market, allowing buyers to visit more homes before
% s. z' W. T% H0 \2 W$ X" k7 Emaking a purchase.% M! s% }" r9 s- {

! R+ ?3 I/ Z; `+ P) @8 Y    Ottawa held its position as one of the country's most stable housing
% s6 ^) Q/ U& f9 Dmarkets in the third quarter, reinforced by a vibrant local economy and strong' Q/ g$ e* X& V0 m. d
confidence, resulting in modest increases in average house prices. The city
4 G" P$ p8 O" S2 s/ }. A# u6 ucentre remained a bright spot in Ottawa, with homes in this area attracting
  o2 }9 [8 c  ]3 uattention due to their convenient location and proximity to downtown8 y0 l! a; A/ K
amenities.3 i+ X3 T( R, s  u0 E& @, K+ g& b
8 L4 u7 j0 T5 e0 [2 r
    The housing market in Toronto sustained healthy activity levels
8 F$ \6 Q# F8 c( P! T) \9 U0 Ithroughout the third quarter, as a strong economy helped to maintain demand' N% n; c, x% |8 ^* n( P
across the city, causing average house prices to rise moderately. Toronto has
1 n/ D% Q6 q% ?! b! ?continued to experience modest growth in average house prices, and has been
4 k  F8 U* W; j* ^+ J4 M9 |driven primarily by purchasers who are buying homes as their principle1 t5 n3 w; N6 s" M1 K9 [) h! b
residence, rather than for investment.& a, f3 \1 E4 K3 v1 T

0 L$ O5 R* V: e4 B- |    The vibrant Winnipeg housing market continued to show its strength as
9 y; S% I. \, ]3 v& i( C/ Nhouse prices rose during the third quarter. The booming local economy resulted0 e2 |% K6 G/ o6 V# M9 ?: i: l- y
in a historically low unemployment rate, helping to bolster consumer
* F2 d: W3 z; r& v2 y0 fconfidence and Winnipeg's ranking as the city with the lowest capitalization5 ^5 r8 N! `0 V( q9 h! E" g- M  ?5 E
rate among the country's larger cities - helped to encourage buyers to enter0 [  R( Q& f2 C1 L5 n4 e/ Z
the market.# ]9 c: ?1 [4 z5 @0 {* `
9 P3 r7 Q/ v/ {# ?4 \/ P
    In Regina, the market experienced a slight seasonal slowdown through
4 H4 x4 F. X  I0 Q  MJuly, as there were fewer purchasers in the market due to summer vacations. In
, c7 W" p) g! C$ }( E6 a& ?( d, wAugust, activity resumed to the busy pace previously seen in the spring
1 B8 R% n- t; y; K- r1 [5 K$ qmonths, as the influx of purchasers made it more difficult to find a home due% }$ [. V! ~. j+ h! n
to the shortage of available inventory.
0 W7 W; a  @+ q" h8 c0 S  J
! b% u8 u- f) }4 S9 ^0 x% R    Activity in Saskatoon remained brisk as the market maintained its
' o& _# L# v1 Cmomentum from the busy spring sales period. The economy in Saskatoon remains0 M1 X. u# D6 U, d6 F3 q9 X" a
vibrant, as employment opportunities are abundant with many businesses# m* E/ @, v& Z9 k
struggling to make hires and having to recruit outside the province.
) n4 D3 F% U8 f) v9 T/ {; m- z: @. z& q
5 K( h0 a) E. |7 }/ k% c. n    Calgary's housing market recorded blazing average house price increases8 p0 S) W; Q9 r( L+ B0 C/ w7 k
in the third quarter, in all surveyed categories. The burgeoning economy, low
( S$ v2 q1 i6 F# }# ?+ X1 aunemployment rates and low inventory levels remained the leading factors that
, f7 a( {# R# P) N3 n/ @pressured Calgary's house prices upwards. However, regardless of the soaring
9 v% R7 W+ i" e2 c& Z1 A3 ~$ [* Cprices that characterized the market - even during the typically slower summer
- v4 j- v- H; R% Useason - it is expected that activity will become slightly more balanced, as. g. R- i/ O" k/ E, r
buyers are becoming more reluctant to participate in the frenetic activity.

6 O, R# Z! h& F/ ^& R
0 n2 u- a7 I* O& X5 M$ k# H4 e% W% W    Edmonton's booming local economy continued to thrive in the third quarter
3 L8 Q' ~/ u4 K# E3 }  z, d/ K( Ras activity in the oil sands north of the city continued to flourish. Edmonton
* v3 s8 J( g  n2 J  c8 Qremained the hub of activity for those coming to work in the oil industry,
6 d7 h( C. i7 x+ |1 u* y! omaintaining tight inventory levels across the city, resulting in prices
- H% [( `2 V8 z4 @' o4 c! N% F% b! Gincreasing at record levels. However, as inventory levels continued to improve
' x3 i5 s+ L. V% T/ hin the third quarter the rate of price appreciation should moderate slightly; ?) z; b7 |$ m
towards the end of 2006.
   
9 C$ L0 }9 z! o& m3 }# x4 P4 Q
# `7 q: g+ E9 cWhile Vancouver has seen a slight reprieve from the severe shortage of
( |* p# o( ]9 Pinventory that had previously characterized the market, supply is still unable
- B* F$ k' E2 vto meet demand, driving house prices upwards. Vancouver has a very diverse! k& j6 m! G! X% L
group of active buyers - from first-time home buyers to baby-boomers to! N8 n9 g, \- ?  m
foreign investors - all of whom fuel the demand for houses, placing added
; t1 o5 q6 u, V  m; a; F2 K( _pressure on tight inventory levels.
7 R& G' M  z( ?- O& x, o6 h1 a' U& I' G& B
    Victoria's market is vibrant and supported by strong economic; Y# @2 L" L1 t( _0 D  |
fundamentals, fuelled by a booming tech sector and a migration of young people4 `! G3 i+ C" B! `2 w1 \9 ~
into the city that has continued to support the area's house price increases;
8 ^+ D) a% l. b  Hwhile increased inventory levels have afforded buyers more time when searching: A# Y% E. m. b. K6 L6 }3 F" X$ `
for a home, helping to normalize the market's pace./ K( ^$ ]0 x- D/ {& c

+ y4 z# W3 j# B2 {$ N' b9 L    <<
. ]9 s8 X' c$ f      Survey of Canadian Average House Prices in the Third Quarter 20068 E( [, c3 x$ c1 ?' L

# W, X7 u5 B: w( p2 \* J    -------------------------------------------------------------------------
6 X7 ]" Z/ M& M1 [& E3 c                 Detached Bungalows                Standard Two Storey" e' O+ Y9 `% _9 {: I
    -------------------------------------------------------------------------
8 S+ d! Q- e& F; x/ o, o                     2006 Q3     2005 Q3    Bungalow     2006 Q3     2005 Q3
. x! _+ \* Y! _! v- Z9 N    Market           Average     Average    % Change     Average     Average
6 Y- K$ |1 ~1 e3 A0 x    -------------------------------------------------------------------------
1 t' x  `$ U0 P- p; ^( i    Halifax          186,333     173,333        7.5%     198,667     199,000, @- K% O( g  ^- g" S! C$ n8 G
    -------------------------------------------------------------------------+ L9 l$ u2 q8 n- A; ]/ b
    Charlottetown    145,000     141,000        2.8%     175,000     170,000
7 x! _6 h' v" s( K0 P% C    -------------------------------------------------------------------------
& e5 r& c9 ]1 ]+ t6 _; o1 y7 Z0 X4 H: D) S    Moncton          135,000     127,000        6.3%     129,000     123,000. `& W0 m9 {  H2 ]6 ^/ y8 N7 y
    -------------------------------------------------------------------------
4 F  _' ~" Y: `; P9 T    Saint John       141,200     142,900       -1.2%           -           -
, d. G! F' L0 \& g5 `3 W    -------------------------------------------------------------------------
8 v. |! S& B  o/ R. \7 P& j. n7 G    St. John's       143,667     142,667        0.7%     200,667     202,333" ^! E8 U- g) Y/ G' Q
    -------------------------------------------------------------------------9 N# Q- Z/ }6 l+ ~
    Atlantic         150,240     145,380        3.3%     175,833     173,583
9 i  M4 k! \+ s( p) P( f1 U) q    -------------------------------------------------------------------------5 s- `2 I7 A$ w) P
    Montreal         213,691     203,500        5.0%     321,141     316,185" t; h' d6 x0 P0 A: ~4 t) S* W& F
    -------------------------------------------------------------------------
5 a1 ^8 q: q/ U' y2 X% |    Ottawa           290,083     278,417        4.2%     285,667     273,250: w  [1 z7 A" O( u, V
    -------------------------------------------------------------------------8 J: L# g: Z; @' Z  w
    Toronto          373,368     355,882        4.9%     481,523     474,766
" ~4 Z0 i: v$ C6 c7 t2 e7 M  R    -------------------------------------------------------------------------/ J3 E7 q' [# ?. a% N( n
    Winnipeg         181,579     159,860       13.6%     202,337     180,707: H& u1 _7 g) q& e1 |6 `# W5 j
    -------------------------------------------------------------------------
3 g) q' {) T2 _    Saskatchewan     170,667     156,083        9.3%     182,600     166,5009 A, V* a: |7 h( w7 L! G
    -------------------------------------------------------------------------
9 I3 J2 X, J9 y; J; ]    Calgary          395,067     252,411       56.5%     405,778     264,389
$ |& a1 ]- M: z  N) A    -------------------------------------------------------------------------
' a" H5 k% B4 d3 [2 s+ W% {- M    Edmonton         286,857     194,857       47.2%     316,429     206,714
! L& E: z( H) D1 s5 o    -------------------------------------------------------------------------2 C& J' s2 R) J- j6 q; w! L
    Vancouver        704,250     601,000       17.2%     794,000     697,500
. Z8 ], H3 F- O5 }9 _/ I    -------------------------------------------------------------------------' n5 X( s9 x2 j; z& X1 d
    Victoria         375,000     348,000        7.8%     403,000     391,0008 I+ e8 a4 O( J# f& b/ R
    -------------------------------------------------------------------------& f$ ~: }/ N0 M/ e9 q
    National         300,365     258,202       16.3%     365,380     322,860  c- p4 E7 q4 F9 N
    -------------------------------------------------------------------------
# i# i& O4 U) E0 U3 \5 E% K$ z+ ^5 L0 H2 r: M  V
    -------------------------------------------------------------2 j, X" v0 v3 `" r- Y9 n- b- ?  J
                               Standard Condominium  o- V! d. L+ T; J% S& _3 B
    -------------------------------------------------------------4 x6 @; M& H3 `
                    2-Storey     2006 Q3     2005 Q3       Condo
5 a5 P' ?5 F0 P* A    Market          % Change     Average     Average    % Change
" ]4 Z7 c7 G  J, H6 B    -------------------------------------------------------------8 s5 x" k' l) r& V" f" s: n& x
    Halifax            -0.2%     142,000     103,000       37.9%
( u- b: T% E- C+ g5 p4 W' u    -------------------------------------------------------------  j5 [- H  c. Y" G/ w* ~, I& r
    Charlottetown       2.9%      98,000      98,000        0.0%
/ U7 m& K5 h/ K$ H% o    -------------------------------------------------------------# H8 N* P5 \' G2 s2 ]2 J& P
    Moncton             4.9%           -           -         N/A7 l0 |; n7 H5 T& Q" l+ v& I
    -------------------------------------------------------------) K8 d  x4 h9 C; x  F* t
    Saint John           N/A           -           -         N/A# w; t0 g+ F7 B" ?9 ~
    -------------------------------------------------------------2 j* Q' ^- ^: [2 x! R$ S# I3 K
    St. John's         -0.8%     146,333     145,667        0.5%/ `. u8 U5 U% `# {
    -------------------------------------------------------------
6 y* q5 e0 v$ E9 H0 N4 _    Atlantic            1.3%     128,778     115,556       11.4%) j- j, N5 E" d% G$ {8 A6 w1 [
    -------------------------------------------------------------6 `' W& Y5 l, q. ]: s4 _8 y
    Montreal            1.6%     193,190     188,016        2.8%
  L0 b: m5 s+ \* Y) C' n0 a    -------------------------------------------------------------
" Q2 d9 \$ ?4 d0 z( V& g    Ottawa              4.5%     181,083     172,250        5.1%
7 _0 z, W/ d. r  ^; L    -------------------------------------------------------------, `! ^2 Y" F' s# U
    Toronto             1.4%     252,088     242,918        3.8%2 J2 q# t# s* G0 h: W3 l8 T' S1 V
    -------------------------------------------------------------
1 W; C9 B. s6 b- r    Winnipeg           12.0%     105,648      96,008       10.0%
! G7 |+ \( c7 T    -------------------------------------------------------------
* W, D) c$ b0 S, |    Saskatchewan        9.7%     106,250     101,000        5.2%4 }/ L, u# p3 n. @
    -------------------------------------------------------------4 l1 q) V2 }' R' i( Y0 w
    Calgary            53.5%     245,844     153,867       59.8%
7 i( ^4 R0 I; a# W2 z3 I    -------------------------------------------------------------
& z7 [0 N) W* N" L    Edmonton           53.1%     200,433     131,500       52.4%
4 u& {) W$ R5 r! `" o/ k    -------------------------------------------------------------5 Q2 s2 `  @1 I6 N0 H  v7 {
    Vancouver          13.8%     366,250     323,250       13.3%) I: Y. ~3 g! j0 h* Y
    -------------------------------------------------------------9 E6 F9 f! T8 J! z$ M5 A, v
    Victoria            3.1%     229,000     220,000        4.1%1 V9 m  E- r3 k$ b; l* K( l
    -------------------------------------------------------------
8 v' M" w3 f, r4 c/ E    National           13.2%     211,562     185,296       14.2%0 U" P  C8 f1 h) r
    -------------------------------------------------------------* ]" }& S9 b' v9 N% ^
    >>& S3 X4 N7 K9 G  {: T
3 ~, ]; X! {" _1 ~: w# T: Q
    Average house prices are based on an average of all sub-markets examined- R0 }" n! V  _7 _' h* C4 ~
in the area, except for the smaller markets of Charlottetown, Moncton, Saint
0 }* u+ N4 ?5 l' O; H9 L/ ]% y: N2 `9 |John and Victoria.( F3 U* S3 A- M5 `  h2 e4 T: P; @
: K! L$ n* ~% y* I  F
    The Royal LePage Survey of Canadian House Prices is the largest, most
+ x" b; i1 j0 W4 i4 k: wcomprehensive study of its kind in Canada, with information on seven types of
" R9 e2 |+ s" w3 D1 H* Y/ g: zhousing in over 250 neighbourhoods from coast to coast. This release/ F. k" |# {2 Z8 X
references an abbreviated version of the survey, which highlights house price8 r1 N0 z1 Q; h4 }. |7 [" ~' n
trends for the three most common types of housing in Canada in 80 communities! W9 W2 b9 O8 c" x. M6 u
across the country. A complete database of past and present surveys is2 h  g6 e& S3 O9 t: {- @# J
available on the Royal LePage Web site at www.royallepage.ca, and current9 d% a9 U$ z9 J! N; y' E
figures will be updated following the end of the third quarter. A printable* Y# x$ i4 U7 o. X& L
version of the third quarter 2006 survey will be available online on
2 `# I9 w% S& f6 VNovember 15, 2006.
( `( l1 h& D( P* w* }4 g1 W% \    Housing values in the Royal LePage Survey are Royal LePage opinions of
2 z' U) S8 ?. F( Z" \% [' i. G# Nfair market value in each location, based on local data and market knowledge
1 Q: M0 I9 D, v3 ]provided by Royal LePage residential real estate experts. Historical data is
0 j: K! G" S2 g- r) Davailable for some areas back to the early 1970s.
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