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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
9 O0 o4 \  x8 S: {) ?) B% J% }/ _: \) ?. R6 h$ p; ^3 v
- Country's market poised to show growth throughout 2006 -
; Y+ N2 A5 O' A  t0 e  C; m$ w2 b6 U9 D- t, _0 a7 ^) E
    TORONTO, Sept. 28 /CNW/ - For most of Canada, the housing market# c0 U2 U7 U: w8 B) N& u
exhibited moderate price increases and stable unit sales during the third( I* R2 l4 F! T
quarter. Wide regional variances continued to be the dominant characteristic
( D! h0 j( n" R! E* Kin the market, exemplified by frenzied levels of activity and double digit7 i4 L7 L- @- l5 j
price gains observed in the energy and commodity rich Western provinces, and
* i1 f$ ~4 r7 t! H9 ^more reasonable sales volumes and moderate price appreciation in Ontario,) q, R: W4 l: V# c
Quebec and Atlantic Canada, according to a report released today by Royal: B# @, @' i; v* f! W! `
LePage Real Estate Services.$ L0 V+ b5 f8 n/ n$ F: ?5 v
. K6 S3 J" F! O9 k3 d6 \2 A
    Nationally, market trends established through the first three quarters$ V# h( a& X& h8 A0 j( Q
are forecast to continue for the remainder of the year. Robust economic! W3 ?6 f1 w3 N* c4 U
conditions, low unemployment rates, modestly growing salaries and wages, and
/ N  B. M% i8 @, {  ?. Tsound consumer confidence contributed to the overall strength of the
# I: n; Q- q6 }& x( Z! aresidential real estate sector.
* l5 |) b3 N  ~0 B' \+ m
" a8 p* b( R: c) W    Of the housing types surveyed, the highest average price appreciation
  _( r0 X; V! C8 [/ q) s- \: q3 Foccurred in detached bungalows, which rose to $300,365 (+16.3%)# E' }. D& q  \* e9 s( }0 i
year-over-year, followed by standard condominiums, which rose to $211,562/ L/ k3 B( x, I
(+14.2%), and standard two-storey properties, which increased to $365,380
! V5 W& M) `4 W& B(+13.2%).
( `/ H: P. O# b9 [1 ~6 T+ f7 k, L' S( T/ W1 I
    "Canada's sturdy housing market continued to demonstrate steady growth, C$ ?; j0 v2 P
during the third quarter. For all but the west, we have moved on from the. f& {" U" P. _' S' C/ [. v
frenzied expansion that characterized the first half of this decade, and are
3 W( w. H+ K% l; N5 Q; epoised to show continued growth at a more moderate pace," said Phil Soper,  s9 B! F& C  `. b1 N0 C
president and chief executive officer, Royal LePage Real Estate Services.
0 ]- W# n: T  r( Z$ a; \  s) y"Gone is the sellers' market that we have lived with for some years. We0 e0 y: k' m5 w2 c( d
welcome the more reliable conditions that are characteristic of a healthy
. T* W* o) A2 ]: ?* I, S8 a- nbalanced market."& d5 d0 y% e- o* h% {  W2 h  [
6 x# j; e5 @& w( l
    Despite the double-digit rise in average national house prices,
. F* K1 Y1 k0 m$ v9 s. {# p. e5 L3 gconsiderable regional variances were exhibited again this quarter. The shift
% c" W6 k) i8 p4 \to balanced market conditions, which began in late 2005, has continued1 \6 g, v2 V$ N4 x2 X' p+ N! p: w
throughout most of the Central and Eastern regions of the country. In the core
5 ~+ d1 M' ]/ I- i$ h4 Yenergy producing western provinces, the combination of very high in-migration,
8 K' d. r( H: F* Hmanageable affordability, and a shortage of inventory has driven record
+ M" ?: x! R! M7 u/ G" v7 `1 B' @breaking price appreciations.! x+ a* H6 w5 w3 d" g/ Y
8 f4 E! m  W, D0 ]$ m
    Echoing the second quarter and supported by Alberta's rapidly expanding: P4 m& x. G# }7 u" C9 {
economy, Calgary and Edmonton led the charge of Canadian cities with the8 f5 k; b' p6 C* s7 R5 u3 m
largest house price appreciation in all housing types surveyed.
' f+ v, M6 T) I+ b3 [+ r6 o1 z; @* B3 X+ E
    In Ottawa and Toronto, growth remained steady, supported by solid
) c+ O0 `$ V0 Seconomic fundamentals, an increase in available inventory and strong consumer! @- a- |( u8 N5 u5 m" C
confidence. While the pace of price appreciation in Ontario leveled off! `: G* ^. T8 B5 h; k  I# U0 D
slightly, the province's real estate market remains poised for modest growth.
0 a9 G9 ?) r; _: I' X% i6 w5 X' QIn Atlantic Canada, new housing and condominium construction offered buyers
& F+ e* m8 ]) i, g: D, kgreater selection at more competitive prices, resulting in a slower rate of* q: `) r7 ?$ c) m
price appreciation when compared with 2005.& K5 {8 Q5 [$ V+ E* u7 ~9 i. S$ [
! p% Q1 H  V( b1 ]1 ]" P5 H
    While the pace of growth in Canada has slowed, the domestic housing+ ^2 ^* g& Q7 a! U1 `5 n. g  {
market is expected to outperform the American market. The economic and
0 @- r9 y* }" v* u5 Y0 Mfinancial fundamentals driving the residential real estate sector in Canada
  A4 i6 H+ i2 b3 n7 [1 g2 Vare markedly different than those found in the United States.
! c! }( r4 q! C* ?. @" i0 G- q
$ I+ Y. \/ H7 {* p4 ?) D& D9 s    Added Soper: "Canada's housing market is likely to outperform the
% Q, A% e; H$ o6 A/ dAmerican market through 2007. A number of factors are working in Canada's
" y3 p  T- v% ^- a6 J0 s% sfavour, including healthy personal and governmental debt levels, the
5 ]5 C* {5 y4 a  Y# N* U' {$ Nrelatively modest rise in interest rates in our country, and general  r1 p( H& m/ u3 y$ {2 N. a
affordability in our major cities. In addition, Americans are now seeing the
% ~7 d9 u: }6 v& _: V0 U, fdownside of a tax system that encourages maximum homeowner leverage, and
- k+ C/ x* z6 @8 k; r2 Gaggressive financial products such as zero- and negative-amortization
. ~, w2 Q3 h* S( E4 `6 xmortgages that work only in a high price growth environment."
& u0 r6 X% Q% M0 j8 }7 ~2 v0 v: v" q% E- v; D' [
    <<$ W0 g7 e. P; q  n$ c
                             REGIONAL SUMMARIES2 d* y& d. e/ c! D
    >>
. I, K! {& Q& j5 t: l/ ]5 ^! l6 g2 ~1 w. ]0 R& m  u
    Balanced conditions continued to characterize the housing market in7 X, U8 Y+ j- H" d* M' ^
Halifax, as significantly higher inventory levels helped to moderate the rate9 B% D4 r% r; I4 p% i, l
of price appreciation. Buyers were increasingly choosy, taking more time, G0 ?( C3 }( k+ R  h
looking for newer, low-maintenance properties that were not in need of
2 p. P9 A$ K/ h9 b5 h; Drenovations.. j- k* j7 K1 U6 z- v

# ]5 |8 J$ }0 u' @    The housing market in Moncton remained healthy and strong as a slight
1 q- w6 A# A) Z4 Wincrease in inventory helped to moderate the rate of price appreciation1 ]" i7 s+ ^* a/ o# _% ]
compared to the same period in 2005. Activity was brisk throughout August and4 \( Q" ^3 t' N" D4 [# h& o$ `5 D
September and is expected to remain this way through the fourth quarter.
; j5 I4 N- O( g' Y$ S
! E, H- M8 g& N4 i! o: H    The housing market in Saint John underwent its traditional summer
8 H( s  c9 f. C8 N( X% T. I5 G3 Islowdown in the third quarter, with activity picking up towards the end of the
. ~9 e+ H0 l. M' Hquarter. The local economy continued to thrive, as construction on a new
4 r0 K% Z& P) b600,000 square-foot shopping area has begun, bringing several new box stores
. C5 Q$ N& D+ Q! Uto the area. Buyers have begun seeking less expensive fixtures for their homes% d% G# w' N" s- `, `
and are instead opting for more affordable housing options.4 p1 {$ I0 h5 J4 U/ f1 t
% \: f: {5 e1 x3 R0 M
    In Charlottetown, the housing market started to move towards balanced, m. o& W. K3 [' [# e4 A" [3 F8 `$ z7 E
conditions, as some sellers had to begin to lower the asking prices on their
, ~: o0 h# T8 T8 @4 Ehomes to make them more competitive. Activity from out-of-town and US buyers2 r& s% y" w4 u* O% w- R' y
was down slightly compared to 2005, likely attributable to the strong Canadian3 i# F0 O7 R7 e4 j" u, r
dollar. Inventory levels began to creep up in the third quarter, providing
/ e- p% |/ {. P: N! V( \2 S9 cbuyers with more options when looking for a home.  @' C# n. i8 r+ S

- O+ Q/ Q, s4 n& n& M+ h+ E1 z    Activity in St. John's slowed slightly in the third quarter, particularly
2 ?, D7 M6 P! Z2 Kamong higher-priced properties, where there was a slight over-supply of homes  [1 g! b; g3 ^$ Y( F2 R- i
priced over $200,000. Listing periods have increased when compared with 2005,
% W5 E* Y+ F7 h+ u# g1 R: O# i. [as some of the pent-up demand that had characterized the market over the last
4 [* y0 B5 v- ]few years has been satisfied, resulting in more normal, balanced conditions.
/ D" P0 q1 X& W4 k* h/ |5 M9 Q6 T& @1 G. _  W2 J8 g4 O$ `
    Montreal's housing market recorded modest increases in average house& T+ S, T2 l* m0 P6 d
prices, due to a slight seasonal slowdown in the third quarter as inventory0 w2 M4 p# \6 c; g% ?6 o
levels rose. Part of this can be attributed to the fact that many renting
4 s3 b" r- E, l5 D( ^first-time buyers were motivated to close on the purchase of a home by July 1,3 G0 s$ l0 ^3 z
when rental leases expire in Quebec. Once this date has passed some of the
  ?  e2 ^( M- G" ipressure is taken off the market, allowing buyers to visit more homes before( ^/ U4 n0 `# n) e0 C
making a purchase.
1 R3 x5 V& Q( S2 l' C; }4 U; Q. b- J4 v4 \5 [2 }! N5 z, Q
    Ottawa held its position as one of the country's most stable housing$ h# G4 h# B1 {" p
markets in the third quarter, reinforced by a vibrant local economy and strong
" \- \. [& V% u5 }confidence, resulting in modest increases in average house prices. The city; O8 ]5 K* O- J: M/ D
centre remained a bright spot in Ottawa, with homes in this area attracting# ?5 Y$ R- q9 s- p" j& V, G; Q1 U6 b
attention due to their convenient location and proximity to downtown. A! _8 p9 @# X7 F, W! h
amenities.$ N+ Q( e, ~( e$ y. }" V

* H, E. u4 d: X& k4 }/ x3 T) E6 ]    The housing market in Toronto sustained healthy activity levels
) a' \# D- l6 O5 hthroughout the third quarter, as a strong economy helped to maintain demand3 \3 [. Z$ ?* r/ ~
across the city, causing average house prices to rise moderately. Toronto has9 r! G. Q. B; G; D/ g3 i. R! ?
continued to experience modest growth in average house prices, and has been8 L7 S4 E- Q. }/ }' x! a7 ~. W3 k
driven primarily by purchasers who are buying homes as their principle& x! l4 @' `) N6 `
residence, rather than for investment.- C& _! S9 S  E: ?
7 V. u- M0 J" s4 ]/ H; u* G
    The vibrant Winnipeg housing market continued to show its strength as
" }7 n9 J- ]; q- A9 W  u* D# L' Mhouse prices rose during the third quarter. The booming local economy resulted+ H* Q5 B6 q1 A* s( L& H
in a historically low unemployment rate, helping to bolster consumer
0 u% Z, A9 S" e- Iconfidence and Winnipeg's ranking as the city with the lowest capitalization
& D& u; \  X" K' _1 ]  Z0 N" j# Jrate among the country's larger cities - helped to encourage buyers to enter
, p& w1 P+ [  @, q4 q) q2 e" Wthe market.2 v+ G+ v4 o* z7 E0 P1 b
" S5 n# G5 O4 Q* Q" g4 v
    In Regina, the market experienced a slight seasonal slowdown through! ]+ ^3 V4 x. H" g. h2 X1 S6 N
July, as there were fewer purchasers in the market due to summer vacations. In
! y" V4 j! A( @8 O; Q, ~( F6 }August, activity resumed to the busy pace previously seen in the spring1 V/ U/ }$ r, e* ]
months, as the influx of purchasers made it more difficult to find a home due  K- o2 b" D3 c& b6 Q
to the shortage of available inventory." X2 E% P; U5 P0 U+ t. A/ _- \0 w

  a# K- r6 e; L9 v( I! Z- l    Activity in Saskatoon remained brisk as the market maintained its; z' ^: R- B: K3 b, L% p
momentum from the busy spring sales period. The economy in Saskatoon remains9 J+ P* \' Z. Z
vibrant, as employment opportunities are abundant with many businesses
5 ]2 P7 q( _. ~struggling to make hires and having to recruit outside the province.. k% Q; w9 K* K" {- E
! ^# L' ^4 m- O' t6 u1 `
    Calgary's housing market recorded blazing average house price increases
) K! j; E( m/ @6 z+ hin the third quarter, in all surveyed categories. The burgeoning economy, low
2 O& ~9 C7 O1 N- y" @, junemployment rates and low inventory levels remained the leading factors that
5 O% |9 O1 e5 `/ [. ]$ C7 Jpressured Calgary's house prices upwards. However, regardless of the soaring- \6 ~4 U4 }" `6 @( e4 ~7 `
prices that characterized the market - even during the typically slower summer9 l9 u9 h+ N0 D" E
season - it is expected that activity will become slightly more balanced, as9 \- Y; p& J  r# Z0 n1 v
buyers are becoming more reluctant to participate in the frenetic activity.

6 @8 T5 d: ^, z. u( p! p& j6 Q
7 d. v" V3 K# o* `+ p    Edmonton's booming local economy continued to thrive in the third quarter
" P3 B) o6 Y* p- D( b7 k! K/ w) Tas activity in the oil sands north of the city continued to flourish. Edmonton0 O7 i( Y& |9 a
remained the hub of activity for those coming to work in the oil industry,$ e, w3 S6 G* j* Y+ v0 Q0 U
maintaining tight inventory levels across the city, resulting in prices
5 J2 s! J# Y* ^8 Kincreasing at record levels. However, as inventory levels continued to improve2 S5 @2 M& {, E2 F1 L3 N1 I/ L( f, s
in the third quarter the rate of price appreciation should moderate slightly1 ^4 U: j! ]+ R9 S
towards the end of 2006.
    9 Q& W" e+ T- U8 W; p
& Y9 G% {' d9 b- n+ ^2 _
While Vancouver has seen a slight reprieve from the severe shortage of
; S: y5 j- _- m- e. c4 |inventory that had previously characterized the market, supply is still unable9 ^4 ?& T3 z3 n4 h) s/ Y! \4 M
to meet demand, driving house prices upwards. Vancouver has a very diverse0 e/ q3 }* b, n2 r& X  V
group of active buyers - from first-time home buyers to baby-boomers to
7 t4 k: A+ y  i. P. g. G% d$ e( tforeign investors - all of whom fuel the demand for houses, placing added
: U9 v. z# d; o0 a, @0 |( |pressure on tight inventory levels.6 M8 ]8 u. |9 M- |& P

# S( r, d5 i2 l7 b: n, q    Victoria's market is vibrant and supported by strong economic
( y5 j; T; g# s1 D* Vfundamentals, fuelled by a booming tech sector and a migration of young people
: F9 t) V. _7 p7 A* Xinto the city that has continued to support the area's house price increases;
9 d' r5 `6 s: [5 Z! C8 r% @7 b$ }6 |while increased inventory levels have afforded buyers more time when searching
% d' O+ ]5 E( D( N& H# {2 g# c! Ofor a home, helping to normalize the market's pace.
8 q8 ~% ^6 I" P4 P8 o
1 y- K7 c& O! [, ?2 }    <</ Z# N) B, n4 H5 U" k" n
      Survey of Canadian Average House Prices in the Third Quarter 2006% U& P: x: w2 h  h; O; P( G; z
4 J5 E7 O6 f' e# m7 B* y; u
    -------------------------------------------------------------------------7 l  o3 c, M3 Y+ D3 `0 ~
                 Detached Bungalows                Standard Two Storey
* W9 N: w2 o. e! y- @    -------------------------------------------------------------------------
0 j$ T  N7 B( p                     2006 Q3     2005 Q3    Bungalow     2006 Q3     2005 Q3
7 ^3 i6 ~( U# J# u2 l) |! O    Market           Average     Average    % Change     Average     Average
' u$ `% w2 n: Y1 C    -------------------------------------------------------------------------( C. M8 }4 K8 l3 @3 _& u( @0 _
    Halifax          186,333     173,333        7.5%     198,667     199,000# {- A, L4 O3 ]2 s
    -------------------------------------------------------------------------4 _* [' I9 A2 U+ g7 I
    Charlottetown    145,000     141,000        2.8%     175,000     170,0008 u0 g* }1 G  ~6 K  _
    -------------------------------------------------------------------------
2 k3 _: z+ h. |; ^9 ]! f, S    Moncton          135,000     127,000        6.3%     129,000     123,000$ H9 l% Y+ ]# e: [- h+ A6 R, A
    -------------------------------------------------------------------------' A* s2 s' F9 F: ?, {; T
    Saint John       141,200     142,900       -1.2%           -           -! _- x) ~  j, F/ p$ ~# h0 i) I
    -------------------------------------------------------------------------
2 l8 c1 z$ O* o9 F  A. i    St. John's       143,667     142,667        0.7%     200,667     202,333% @0 s$ E  t! m4 k3 L1 D
    -------------------------------------------------------------------------
1 V) Y( D: T$ X2 S( [1 B3 t    Atlantic         150,240     145,380        3.3%     175,833     173,583+ S) [  g# I2 s) k
    -------------------------------------------------------------------------
5 O+ \9 z& @: |! m% X9 x2 d& ^( E    Montreal         213,691     203,500        5.0%     321,141     316,185
* P6 n6 c0 ?( M& ^" b    -------------------------------------------------------------------------
4 N: Q- z4 h8 r. c; \    Ottawa           290,083     278,417        4.2%     285,667     273,250: U6 k; r1 n* m% n$ k
    -------------------------------------------------------------------------/ Z+ t% K9 ^+ a1 A' {5 T
    Toronto          373,368     355,882        4.9%     481,523     474,766( Q, T' t/ T$ p- N: a, d, B. ?
    -------------------------------------------------------------------------) v1 q/ M: d% d& B5 T
    Winnipeg         181,579     159,860       13.6%     202,337     180,707
" `9 s0 @1 y: @; o* l    -------------------------------------------------------------------------
* l. \/ x& ^% W8 y. I: L5 ^" Y, M6 K    Saskatchewan     170,667     156,083        9.3%     182,600     166,500$ m& k, p, C0 Y( a& n
    -------------------------------------------------------------------------3 y8 r  l, z6 m3 J
    Calgary          395,067     252,411       56.5%     405,778     264,389
7 a. v0 U. z2 X/ r    -------------------------------------------------------------------------
. z7 N% Q9 @' M) @+ F9 O' w    Edmonton         286,857     194,857       47.2%     316,429     206,7149 U$ S' o' N) [7 b& |
    -------------------------------------------------------------------------/ Z" `/ E8 F! \9 z! R- Z+ ?
    Vancouver        704,250     601,000       17.2%     794,000     697,500
1 ?$ b% Z. O  J- Q$ g& u$ ?    -------------------------------------------------------------------------
# U* u0 ^0 m. Z$ k4 N+ w. J    Victoria         375,000     348,000        7.8%     403,000     391,000
4 z9 P( s. P- d6 p+ W: r' [) b$ o    -------------------------------------------------------------------------
9 j, {# r) k, q. s! g    National         300,365     258,202       16.3%     365,380     322,860: y# \8 I  O! ?1 Q& d3 B" |! S
    -------------------------------------------------------------------------0 p0 s. q0 ]" r2 y1 N- |0 W& l
6 ]1 l3 f8 Q0 i6 j: J
    -------------------------------------------------------------) J" P1 y- t9 w7 \
                               Standard Condominium2 _2 ~7 W, }' d. N. t
    -------------------------------------------------------------9 r# M. W' }) n
                    2-Storey     2006 Q3     2005 Q3       Condo
5 t5 g6 r  q  n/ A& m) [" G    Market          % Change     Average     Average    % Change+ I* \! ~% D: B) E2 S
    -------------------------------------------------------------
" f/ D: I) ~  E" c0 ~0 a* Y& h; v    Halifax            -0.2%     142,000     103,000       37.9%
9 ^& s1 i6 t5 T6 l+ ]5 m- t* f    -------------------------------------------------------------
& f/ C/ ]' E; L& i5 |    Charlottetown       2.9%      98,000      98,000        0.0%
; e* J% ~# Q; Q    -------------------------------------------------------------
0 ], ~6 A! \- E) H6 Q    Moncton             4.9%           -           -         N/A
" f- s2 R# P5 [    -------------------------------------------------------------
) d3 j& ^% B+ y3 Q% N# P8 y2 U. }    Saint John           N/A           -           -         N/A
6 A! E' {  M) _! O' o0 Y1 B+ V" z! d    -------------------------------------------------------------. |7 l2 l+ A& E4 G  Q* C
    St. John's         -0.8%     146,333     145,667        0.5%
) A) D. ^8 z+ Y    -------------------------------------------------------------% o* `3 U- Z" |  X
    Atlantic            1.3%     128,778     115,556       11.4%
* X# w. s) Z: l& [* e: N) a    -------------------------------------------------------------& Q" V& y3 s4 t3 T- s
    Montreal            1.6%     193,190     188,016        2.8%
. ]/ l# R- A5 O/ `5 g) j1 F    -------------------------------------------------------------
8 E5 L8 C' `% Z5 c5 H! ]0 E. }    Ottawa              4.5%     181,083     172,250        5.1%
6 X% L* n& m8 y8 [    -------------------------------------------------------------
3 Y! i! d7 h- ?& x7 T    Toronto             1.4%     252,088     242,918        3.8%+ w% _: S! C1 [/ A% X: C
    -------------------------------------------------------------
: l5 Z" n7 E/ y% q    Winnipeg           12.0%     105,648      96,008       10.0%
; ^. {4 J% O; X4 `$ C( Q    -------------------------------------------------------------% o* ?, o- ^6 _9 |% |$ g
    Saskatchewan        9.7%     106,250     101,000        5.2%0 E- S( f0 D8 }' }+ `! |1 m
    -------------------------------------------------------------
  ?/ j8 N/ ^$ {3 E* X2 ~    Calgary            53.5%     245,844     153,867       59.8%
/ K3 q( V! N1 E/ h0 K6 P3 O    -------------------------------------------------------------  O! G7 ~0 h, r3 Z3 @  {' M: D
    Edmonton           53.1%     200,433     131,500       52.4%
' g; B4 I8 x! k1 ^    -------------------------------------------------------------
) C' ?6 p0 c5 u6 V( I    Vancouver          13.8%     366,250     323,250       13.3%0 b3 p+ o, O# Q
    -------------------------------------------------------------
7 x2 j; Y; ]' w    Victoria            3.1%     229,000     220,000        4.1%: \* J$ P5 `" {5 N+ Y
    -------------------------------------------------------------
+ R6 {7 _  X  r# O. r. Z  _' U    National           13.2%     211,562     185,296       14.2%
: z) X& x8 d7 h; s! Z& H; Q    -------------------------------------------------------------, W1 S4 Y% d8 e
    >>
' P( g0 L- B& Y4 d# c0 N  N" B
    Average house prices are based on an average of all sub-markets examined
, u, H* v& h) R. v$ ~7 [in the area, except for the smaller markets of Charlottetown, Moncton, Saint3 K( P7 L! Y6 Z" |& x. _8 F+ Q  H' s
John and Victoria.
' H7 s3 ?3 {' s$ Y6 _1 ^+ n& @5 g, b- d% e
    The Royal LePage Survey of Canadian House Prices is the largest, most* o6 h8 O0 a& T& i( `
comprehensive study of its kind in Canada, with information on seven types of
7 F5 f" F; g+ `3 ?housing in over 250 neighbourhoods from coast to coast. This release
9 f3 T& u8 d  u+ ?+ v! E' _& j: _" freferences an abbreviated version of the survey, which highlights house price
$ w: V1 |$ M4 S/ n; M4 `7 xtrends for the three most common types of housing in Canada in 80 communities! y" x5 v, M+ h1 f
across the country. A complete database of past and present surveys is( |$ v& k- G) e: y4 |  W
available on the Royal LePage Web site at www.royallepage.ca, and current& ?- ]2 s1 Y  ?$ D4 O
figures will be updated following the end of the third quarter. A printable
6 t, M. ]" W, n3 `version of the third quarter 2006 survey will be available online on2 J* [2 d* z6 P
November 15, 2006.* A2 K4 b+ ]* L
    Housing values in the Royal LePage Survey are Royal LePage opinions of* Q# H6 [  v/ T7 H9 }  a
fair market value in each location, based on local data and market knowledge
( |" W' l) r" p/ h- zprovided by Royal LePage residential real estate experts. Historical data is9 a  Y' Y$ l6 n+ x5 h$ {9 ?' m
available for some areas back to the early 1970s.
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