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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
* o( t; B4 c% p8 n# \- u) g" B) _, A" O; L
- Country's market poised to show growth throughout 2006 -8 b4 }% g# t7 [/ ]

* I7 z0 Q; z5 n; l  I- k    TORONTO, Sept. 28 /CNW/ - For most of Canada, the housing market
: M1 _( D, P0 S3 pexhibited moderate price increases and stable unit sales during the third
8 ?" V% F- K+ }  C$ u. ~# }quarter. Wide regional variances continued to be the dominant characteristic
+ C5 i9 X7 b8 _: _/ win the market, exemplified by frenzied levels of activity and double digit! e+ t. ?% ~8 q3 r
price gains observed in the energy and commodity rich Western provinces, and/ h# E+ z  F/ m, w1 _& G
more reasonable sales volumes and moderate price appreciation in Ontario,2 U. a  B. _8 G) X6 ^/ a& S. ~
Quebec and Atlantic Canada, according to a report released today by Royal$ s0 D( a  U  q8 I5 B5 @* c
LePage Real Estate Services.6 E! ]( X! P' w. P

4 b8 b* ?) X/ P; i1 s; D+ W    Nationally, market trends established through the first three quarters
9 f" I2 |; R  ]) i( M  `are forecast to continue for the remainder of the year. Robust economic/ |6 D4 d2 \. P+ C1 r5 O
conditions, low unemployment rates, modestly growing salaries and wages, and$ V3 g7 K# V3 q  K
sound consumer confidence contributed to the overall strength of the
; j2 A8 S6 K3 a; {! A# B4 t/ Sresidential real estate sector.* x8 [3 M2 I$ ^% d# J

" b* L( a4 Y" x1 j/ s& N$ T' `    Of the housing types surveyed, the highest average price appreciation
' Y4 r, y2 Q4 z3 J/ Doccurred in detached bungalows, which rose to $300,365 (+16.3%), f9 [4 i6 }. @# `+ G
year-over-year, followed by standard condominiums, which rose to $211,562' C/ d' |# l0 H
(+14.2%), and standard two-storey properties, which increased to $365,3805 d: h! g1 m8 ^7 `$ r$ q$ {  x
(+13.2%).% v2 R6 L5 N3 o- R/ Z: x/ ?* a

. Z5 r  S5 X2 q! Z- F; }    "Canada's sturdy housing market continued to demonstrate steady growth. |" _2 Z0 s% K
during the third quarter. For all but the west, we have moved on from the( B1 ~. g! w! I: B( G* n
frenzied expansion that characterized the first half of this decade, and are
8 r; I5 V- q+ U! u) f; upoised to show continued growth at a more moderate pace," said Phil Soper,: h6 x+ z2 ?! S7 _& L; b# [  l3 ~
president and chief executive officer, Royal LePage Real Estate Services.
* m+ t$ v3 T% W2 Q2 d$ d3 S"Gone is the sellers' market that we have lived with for some years. We7 H% Z9 y+ x2 B
welcome the more reliable conditions that are characteristic of a healthy6 Q" q0 K* N' d" _; b4 }3 ]: L4 X
balanced market."
1 X% e% O) {1 N  L" K# u) c
" R  e$ v+ O8 d$ J# ]    Despite the double-digit rise in average national house prices,6 o  B4 H( ^# [5 _: t
considerable regional variances were exhibited again this quarter. The shift3 v% f7 h& D* s: q
to balanced market conditions, which began in late 2005, has continued9 }4 z0 L- `7 M( s3 ]9 c: ?' q$ V
throughout most of the Central and Eastern regions of the country. In the core6 b1 u: {4 M4 w
energy producing western provinces, the combination of very high in-migration,' a: ]& v! l0 @5 y1 @5 e" Z9 [
manageable affordability, and a shortage of inventory has driven record* W. u& Z. ]8 g) R
breaking price appreciations.
3 V" Q# n3 j6 o  u
- y: E: {% |7 E- V& c# |8 k) f7 i    Echoing the second quarter and supported by Alberta's rapidly expanding6 J' e- k# a& D" e
economy, Calgary and Edmonton led the charge of Canadian cities with the& B0 i" B) ~! F, u" c% H8 ?( J2 z7 c
largest house price appreciation in all housing types surveyed.
# s- J* d5 a; F7 d' v3 P
7 }+ P' x5 z0 Z# {0 D6 v3 \3 g    In Ottawa and Toronto, growth remained steady, supported by solid
3 u5 a* t9 P: Deconomic fundamentals, an increase in available inventory and strong consumer, t7 [( l) S- M
confidence. While the pace of price appreciation in Ontario leveled off
3 I7 Z7 H; Z3 K4 @: `slightly, the province's real estate market remains poised for modest growth.2 X) a3 F6 e5 N- R/ r
In Atlantic Canada, new housing and condominium construction offered buyers- V$ u! \1 n. N, U  d) W
greater selection at more competitive prices, resulting in a slower rate of8 f& Y% L( L/ d+ T9 Y; H, @
price appreciation when compared with 2005.
0 u" p) M$ O1 d% l8 Z: V; B. f2 K+ z: S; q4 k
    While the pace of growth in Canada has slowed, the domestic housing
3 `9 a0 P7 ^" x9 D: Dmarket is expected to outperform the American market. The economic and! V9 K0 L$ v' g* }. A
financial fundamentals driving the residential real estate sector in Canada
/ F- v& C. _) y, ?$ X1 ~are markedly different than those found in the United States.
' n# X" `% h# l8 ^& H/ v: U9 @) a  h( O
    Added Soper: "Canada's housing market is likely to outperform the
  ]+ {, j- d# c( i3 `American market through 2007. A number of factors are working in Canada's2 ]) E  F% d/ Z
favour, including healthy personal and governmental debt levels, the
: }. n2 g+ [" P! E: p* d* w8 A" Erelatively modest rise in interest rates in our country, and general
! d  a) K5 b3 N5 G$ E  vaffordability in our major cities. In addition, Americans are now seeing the
: d& `* A1 c( \1 x4 p8 ?9 `' Vdownside of a tax system that encourages maximum homeowner leverage, and
: v. j1 j$ s6 Oaggressive financial products such as zero- and negative-amortization
, ~4 p0 `0 v2 L# L0 e3 qmortgages that work only in a high price growth environment."" R% e) s5 M$ Z+ C- q. z

% C- S, [: {0 R% M  y- q, _    <<- R4 C4 ], y- B' e6 }
                             REGIONAL SUMMARIES, ^. }) A$ @) a' z3 _/ r2 E
    >>/ x3 H, I8 ?# \& b  I
1 M( a/ z$ z6 B* L5 L  D- ^
    Balanced conditions continued to characterize the housing market in
: n$ s# r( i1 ^3 v+ xHalifax, as significantly higher inventory levels helped to moderate the rate
8 V; V& T5 D# V$ N& `of price appreciation. Buyers were increasingly choosy, taking more time
( Y' `- [" W0 u" E9 klooking for newer, low-maintenance properties that were not in need of5 p' k% r, C/ U2 k$ x) @) D3 Q$ x
renovations./ z+ V3 R, Y/ m

' A9 b1 g: q' B) @6 g& [9 \    The housing market in Moncton remained healthy and strong as a slight
; U) s  x5 Z5 c( D1 ^) nincrease in inventory helped to moderate the rate of price appreciation
5 N; g2 `9 {, n# J7 U3 D7 `compared to the same period in 2005. Activity was brisk throughout August and
! j9 x: d3 d& U3 W& m: }2 C8 SSeptember and is expected to remain this way through the fourth quarter.  I1 f( X- R7 H8 E

4 P; }% O, i: O, W/ x& Y    The housing market in Saint John underwent its traditional summer( Z& S" e# V: f- ^- e! M- f! r
slowdown in the third quarter, with activity picking up towards the end of the
% h3 x, m5 u! p$ N) kquarter. The local economy continued to thrive, as construction on a new
. h3 K- Y9 R4 u: [) c- [; L* e, Q) Z600,000 square-foot shopping area has begun, bringing several new box stores
2 h, ~/ A( t, t1 \to the area. Buyers have begun seeking less expensive fixtures for their homes
- o1 ?$ E- d- e: v3 sand are instead opting for more affordable housing options.; r! b/ N$ e5 S/ q  }

" B) s1 k2 x9 f( \    In Charlottetown, the housing market started to move towards balanced
; |# |5 E2 e; \% g( N. J* J! W8 }5 nconditions, as some sellers had to begin to lower the asking prices on their# ^- G8 M* J& I! U- i% p- Q
homes to make them more competitive. Activity from out-of-town and US buyers
' B$ V  |5 Y! U3 }% ]1 k) ]3 Pwas down slightly compared to 2005, likely attributable to the strong Canadian/ J, A% X% m" ^0 |  K7 z
dollar. Inventory levels began to creep up in the third quarter, providing& j5 h8 G7 G5 y( t, p2 {
buyers with more options when looking for a home.
  L0 a% F$ E  \' D2 n: r  c1 U8 Q9 P7 R  @1 q
    Activity in St. John's slowed slightly in the third quarter, particularly
9 J8 x( m6 P- V/ gamong higher-priced properties, where there was a slight over-supply of homes
+ z  j" m2 Y" B& F* H. }% ?priced over $200,000. Listing periods have increased when compared with 2005,5 }6 F& i2 D+ ?+ T' s
as some of the pent-up demand that had characterized the market over the last1 B4 x8 G9 B) _) }& R. Q' `
few years has been satisfied, resulting in more normal, balanced conditions.
% t# T" O8 |4 `* `7 b2 n/ [* ?- I1 \+ P: h! X' [3 a
    Montreal's housing market recorded modest increases in average house! @8 U# _& v3 R# }. w; F* `
prices, due to a slight seasonal slowdown in the third quarter as inventory
$ [$ w  m* I  b. r8 [: p6 s7 ~levels rose. Part of this can be attributed to the fact that many renting6 E, ^8 \. ?6 I5 r" G, t  n
first-time buyers were motivated to close on the purchase of a home by July 1,: m/ ^! @: F9 j% M0 w+ y
when rental leases expire in Quebec. Once this date has passed some of the, a* V; O9 m. g3 _, D
pressure is taken off the market, allowing buyers to visit more homes before  L8 y- E" }3 Q& t* I/ d3 O. `
making a purchase.
0 c0 U" Q6 _  c5 D4 ^7 m: m
6 m2 N1 |  g( J% a$ v    Ottawa held its position as one of the country's most stable housing0 F3 [* H3 h0 Y+ V8 y" a8 k) i
markets in the third quarter, reinforced by a vibrant local economy and strong/ B2 {% m4 |" }
confidence, resulting in modest increases in average house prices. The city
2 P8 H7 B3 s' Y. ?centre remained a bright spot in Ottawa, with homes in this area attracting
' @5 p# v+ V9 O5 B* W  r9 qattention due to their convenient location and proximity to downtown1 n- ]1 p- @. T+ T6 m
amenities.
0 @1 E% l) c/ n
. ?) z  F" l2 D: Y/ ^: A  t* N$ U    The housing market in Toronto sustained healthy activity levels0 }$ A1 A/ r% D3 A
throughout the third quarter, as a strong economy helped to maintain demand$ V/ g: o# u% ?% t2 r
across the city, causing average house prices to rise moderately. Toronto has. ~/ t/ e4 n$ {: F' W* [
continued to experience modest growth in average house prices, and has been
* ?$ o4 c: [' Z+ N7 idriven primarily by purchasers who are buying homes as their principle
) W. i7 W& d% }  {3 y2 {, lresidence, rather than for investment.* e. G! d( N4 C) g' j3 x
1 m+ ^$ I7 h% n
    The vibrant Winnipeg housing market continued to show its strength as) ]4 _, K1 d* \8 Y3 P
house prices rose during the third quarter. The booming local economy resulted
3 u* h7 O7 B% d' t( {in a historically low unemployment rate, helping to bolster consumer6 {1 U0 L8 {3 U: S* k
confidence and Winnipeg's ranking as the city with the lowest capitalization0 q) c* \$ N* e) [
rate among the country's larger cities - helped to encourage buyers to enter
  d7 [! t: |8 l- m0 Gthe market.
: E  v. g: U! ]/ D. U- R/ k% a5 T' v2 B
    In Regina, the market experienced a slight seasonal slowdown through. M$ j, l: ?* L9 G
July, as there were fewer purchasers in the market due to summer vacations. In
* n# R0 `/ g* {7 [/ _* ?, O* vAugust, activity resumed to the busy pace previously seen in the spring; W, X, r- p' x
months, as the influx of purchasers made it more difficult to find a home due
! Q+ p9 @: M8 E8 x- {/ G, oto the shortage of available inventory.& e1 ?. R0 j* c5 d  m, Y* q4 m& K3 @

0 w! O! r3 E8 C' J    Activity in Saskatoon remained brisk as the market maintained its3 y0 V# W; e$ D! q( t6 R; O, s
momentum from the busy spring sales period. The economy in Saskatoon remains/ k. y5 C  B  `3 F6 A1 q' k: E
vibrant, as employment opportunities are abundant with many businesses
* U. Q- T; z% H# ?! S& Nstruggling to make hires and having to recruit outside the province.; T5 G/ N2 v7 J4 J5 O4 K5 v$ t/ Z. y
, I0 ?7 f& ^- s7 i( S. O" ]
    Calgary's housing market recorded blazing average house price increases
! n, z( p6 l  ~6 B9 z. @in the third quarter, in all surveyed categories. The burgeoning economy, low
/ i/ ]' e& p( t- v8 u6 q* lunemployment rates and low inventory levels remained the leading factors that
7 O# q! r5 ?  c, T$ S" N- q7 l* ipressured Calgary's house prices upwards. However, regardless of the soaring
0 e# y% ]- `$ b; T4 l- zprices that characterized the market - even during the typically slower summer) [9 {/ E2 U9 L6 G1 y
season - it is expected that activity will become slightly more balanced, as; m( W: a1 G" x" J9 g$ B
buyers are becoming more reluctant to participate in the frenetic activity.
( _+ {2 \/ {& t# z
4 Y3 L9 o$ p* Y6 K+ a+ Y
    Edmonton's booming local economy continued to thrive in the third quarter
, H' K/ n8 L8 m5 n! mas activity in the oil sands north of the city continued to flourish. Edmonton  P0 }, M" l+ R: B1 r* s* d, h
remained the hub of activity for those coming to work in the oil industry,
; y: r/ b. a6 M" h/ amaintaining tight inventory levels across the city, resulting in prices. l- Z* t6 a: u9 H3 g* q. ^0 Y
increasing at record levels. However, as inventory levels continued to improve9 N' x, {/ q" s; A( b4 p( @  {: y8 O+ S
in the third quarter the rate of price appreciation should moderate slightly/ a9 D0 G( `/ B5 O5 G# p+ `
towards the end of 2006.
   
4 ?' U7 Y5 D" R
2 @4 A0 \8 T& S# DWhile Vancouver has seen a slight reprieve from the severe shortage of
1 E/ Q0 ?/ m' ]( J5 ?5 {inventory that had previously characterized the market, supply is still unable
. n; \: Y- Q" p7 ^7 ]9 Z0 P( Tto meet demand, driving house prices upwards. Vancouver has a very diverse
- u; p$ |9 B" l2 O, r% }group of active buyers - from first-time home buyers to baby-boomers to
, x( ?  U3 b4 T9 [0 o9 tforeign investors - all of whom fuel the demand for houses, placing added- E3 k: E% D5 e- p" q0 ~. @1 U
pressure on tight inventory levels.9 r9 H4 V. f5 O. t8 i8 A( g
7 N9 q3 |6 ?) U, t) L+ x! W! N: U* V: g
    Victoria's market is vibrant and supported by strong economic
: K% q6 {2 p0 c- ~4 B: rfundamentals, fuelled by a booming tech sector and a migration of young people
- J; u( w. e- I& H8 ?into the city that has continued to support the area's house price increases;
" c, |, D( v' W1 ~! z& dwhile increased inventory levels have afforded buyers more time when searching
. }% D- H/ H% u; I# d) Q" ^7 efor a home, helping to normalize the market's pace./ r0 t0 F% p6 |# F
* t- [  X2 {1 \& a! d- t( w9 v; I
    <<
, T2 d. a/ c$ S6 Q0 V+ n' P      Survey of Canadian Average House Prices in the Third Quarter 2006# n& M  W( B, P
" B& H0 l  Y& X1 G! D- K  C5 k5 L: [
    -------------------------------------------------------------------------# q) W0 q9 n( s
                 Detached Bungalows                Standard Two Storey
  k0 B1 q$ A) v2 H    -------------------------------------------------------------------------8 z! t8 r) L  C4 S' k' s5 b
                     2006 Q3     2005 Q3    Bungalow     2006 Q3     2005 Q3! q- o9 L" z- k5 D( W- Z- `
    Market           Average     Average    % Change     Average     Average
7 K7 P4 T9 U$ h" z! x; Q2 g    -------------------------------------------------------------------------
- R# r1 @! z( d4 I    Halifax          186,333     173,333        7.5%     198,667     199,000( m2 @( ~1 R" Z1 a5 u$ }
    -------------------------------------------------------------------------: Y& g2 J  N& d' U" L  ]9 d
    Charlottetown    145,000     141,000        2.8%     175,000     170,000
* ~/ l4 X& _  G    -------------------------------------------------------------------------
! j7 D9 {  K  d2 s% p, a6 n6 K' l    Moncton          135,000     127,000        6.3%     129,000     123,000* n+ W. r) q! H& H6 G& ?
    -------------------------------------------------------------------------. s$ i  B" e. \9 f' p6 E' k% o( u
    Saint John       141,200     142,900       -1.2%           -           -2 g2 K0 p+ g' \- v2 F: _
    -------------------------------------------------------------------------: K+ n3 R: `$ u1 P: ~
    St. John's       143,667     142,667        0.7%     200,667     202,333
9 l& R4 I3 A0 J! C$ H    -------------------------------------------------------------------------8 [$ |0 g+ h* g6 y$ G+ \9 u# V2 `( o
    Atlantic         150,240     145,380        3.3%     175,833     173,583  f9 X2 |. T+ U0 \
    -------------------------------------------------------------------------
7 b8 B5 }! g6 K0 e    Montreal         213,691     203,500        5.0%     321,141     316,185) I$ R3 K5 H1 C( R% }
    -------------------------------------------------------------------------
: L% U( Z1 x6 R7 w    Ottawa           290,083     278,417        4.2%     285,667     273,250
; x; M/ o" O, D7 q( S- B    -------------------------------------------------------------------------5 b1 U) @. P' e0 I$ O
    Toronto          373,368     355,882        4.9%     481,523     474,766+ N9 N) `1 r2 B! o+ W& A
    -------------------------------------------------------------------------
4 a/ `7 ~3 p5 I8 S5 U    Winnipeg         181,579     159,860       13.6%     202,337     180,707& g% J0 [& S5 I6 j5 u
    -------------------------------------------------------------------------) i9 B' N0 i! o
    Saskatchewan     170,667     156,083        9.3%     182,600     166,500
; M  j, f' v8 N3 w; u- ?) z7 \  x2 i    -------------------------------------------------------------------------
8 _, @' L: Z7 i+ a+ E    Calgary          395,067     252,411       56.5%     405,778     264,389+ @: l. X/ v  D+ o" y( ^
    -------------------------------------------------------------------------
# q! _7 ^3 G* @8 d    Edmonton         286,857     194,857       47.2%     316,429     206,714
4 e" N* D- J9 ?: Z    -------------------------------------------------------------------------& O  ^6 Z9 \0 y! c6 T/ m& ^
    Vancouver        704,250     601,000       17.2%     794,000     697,5007 {; B) t0 I+ ]9 f0 ?0 E/ C- I, T
    -------------------------------------------------------------------------
% `! E$ C) C6 H; \2 `' e$ m    Victoria         375,000     348,000        7.8%     403,000     391,000
- A$ M8 n  b( ?$ H$ q    -------------------------------------------------------------------------
  h( F4 S# a5 Q2 I# d" Z    National         300,365     258,202       16.3%     365,380     322,860
# I; F4 F2 q* F' C8 \8 b    -------------------------------------------------------------------------
( Z. y4 W& S, r! X5 A
" r, h/ F+ ^: h. H; v. Y( Y) s! m3 R    -------------------------------------------------------------
! X5 W+ j3 O  r4 K' x% Y, F) P9 Q                               Standard Condominium. V' q6 `: f1 s4 y
    -------------------------------------------------------------; K6 m  }; _' ]/ y3 b3 |
                    2-Storey     2006 Q3     2005 Q3       Condo- F8 J4 i3 S8 z9 \9 X1 ~
    Market          % Change     Average     Average    % Change. C% \0 y6 ^) X5 i( g  d$ z
    -------------------------------------------------------------
& V5 r0 N" n4 X$ p    Halifax            -0.2%     142,000     103,000       37.9%
: v$ J; `. }/ |' ~' ]9 n    -------------------------------------------------------------9 I( T$ C6 s+ _) R
    Charlottetown       2.9%      98,000      98,000        0.0%
# H: I% @( a- m% I, }/ c) {" m  ^    -------------------------------------------------------------3 ~( j# U' v: ^' L% L
    Moncton             4.9%           -           -         N/A
' S4 F5 l. z1 E. @+ e  G' [8 c3 I  j    -------------------------------------------------------------6 h1 D8 r5 i, N; ^2 A
    Saint John           N/A           -           -         N/A
" k8 t" D* b, K6 @    -------------------------------------------------------------
) J$ E* f6 [, B  m. ~! g7 F    St. John's         -0.8%     146,333     145,667        0.5%$ K  e. K9 u- k
    -------------------------------------------------------------: C* w- O. M8 P1 Z5 L, _
    Atlantic            1.3%     128,778     115,556       11.4%
  ~. L5 c2 t# x2 L6 r    -------------------------------------------------------------
0 D. L6 K' _$ _4 v7 x    Montreal            1.6%     193,190     188,016        2.8%% `" k& k. O3 Y* u7 Z
    -------------------------------------------------------------
, s) m8 `! I1 S( Z+ G    Ottawa              4.5%     181,083     172,250        5.1%
! s" z/ m1 t2 F8 J3 x    -------------------------------------------------------------
: F$ r' L% i6 s    Toronto             1.4%     252,088     242,918        3.8%
. I* V+ T- x: P# K) s; K8 G! w' B$ z1 @    -------------------------------------------------------------
2 G! E8 D* ~" r! j    Winnipeg           12.0%     105,648      96,008       10.0%/ M/ o" s5 h% t/ S& a
    -------------------------------------------------------------
/ N0 D5 O, U" L$ e1 n2 r    Saskatchewan        9.7%     106,250     101,000        5.2%( Q$ o/ Z3 H) l0 j$ K2 t1 Y
    -------------------------------------------------------------
! i* P' x" @7 U2 H2 b1 N    Calgary            53.5%     245,844     153,867       59.8%
! g4 U# w& Y0 J! s% \: s2 S    -------------------------------------------------------------: p! `' m0 w1 }: j7 R5 Q6 K( v$ }
    Edmonton           53.1%     200,433     131,500       52.4%$ Q- V( k& {* m  C) J& x
    -------------------------------------------------------------2 o0 ]/ A& }) M% n) j
    Vancouver          13.8%     366,250     323,250       13.3%2 \# A0 k0 ~! R& \& Q* S8 K
    -------------------------------------------------------------, B8 o7 `+ b2 `7 F- z& z2 c2 H
    Victoria            3.1%     229,000     220,000        4.1%9 O+ x# H; E/ q8 {" ^
    -------------------------------------------------------------
' m) g5 z" c% t) `9 i* m    National           13.2%     211,562     185,296       14.2%
6 S, B, F4 O" Y    -------------------------------------------------------------
2 o+ P: f% |5 G/ {; W    >>9 b' Y$ R) I# r' J
: `+ t5 @2 J8 u0 Y% L$ Q3 O
    Average house prices are based on an average of all sub-markets examined
4 w% N. S! p+ d2 ain the area, except for the smaller markets of Charlottetown, Moncton, Saint/ ]# Z( C: x' [+ }9 }" n' M$ k
John and Victoria.5 c5 H+ _+ w5 ^) T8 f. D

. }' k7 P& P! D+ v% m. @' d; I2 s    The Royal LePage Survey of Canadian House Prices is the largest, most
) o1 L' P7 w4 s: E% m3 h  p7 z6 qcomprehensive study of its kind in Canada, with information on seven types of3 p3 D% [# s! _) K
housing in over 250 neighbourhoods from coast to coast. This release* m: |% p, N: F; s3 s7 M
references an abbreviated version of the survey, which highlights house price
1 Q. U; b1 W% U4 `' Z( H6 c- M: U% Ttrends for the three most common types of housing in Canada in 80 communities3 V6 v/ B, f6 T/ e" p
across the country. A complete database of past and present surveys is
+ {0 P- C; ?5 z- aavailable on the Royal LePage Web site at www.royallepage.ca, and current( ~9 H0 {! t" B5 L
figures will be updated following the end of the third quarter. A printable) y$ L0 C# f% i
version of the third quarter 2006 survey will be available online on& C0 ^9 G, E! X% d0 B! x/ i
November 15, 2006.$ o* d6 n1 D* K0 ^9 u9 Q
    Housing values in the Royal LePage Survey are Royal LePage opinions of
. M4 w) W# c" _  g* P5 }& ^( hfair market value in each location, based on local data and market knowledge
3 C& Y! R4 C  X( x: H; `8 i; A: |& Iprovided by Royal LePage residential real estate experts. Historical data is; J  L$ X) V6 i
available for some areas back to the early 1970s.
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