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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 / G/ ?1 c! I* ]  }' m
* K$ q& j3 y7 M) |( e' ^9 E
- Country's market poised to show growth throughout 2006 -: d! [! w. {6 o+ o- F6 J0 d3 H

- M8 X8 c! V2 }, ~2 h    TORONTO, Sept. 28 /CNW/ - For most of Canada, the housing market
1 k; x+ H& T2 h2 ]exhibited moderate price increases and stable unit sales during the third2 R$ u5 k  b  G
quarter. Wide regional variances continued to be the dominant characteristic2 o8 D: Z4 m. V# O2 j7 M
in the market, exemplified by frenzied levels of activity and double digit2 m, {* u+ ?& K' S
price gains observed in the energy and commodity rich Western provinces, and
: h. R; O: I5 n1 f; ^  W. {$ ^( emore reasonable sales volumes and moderate price appreciation in Ontario,2 h- Y7 j/ i' a2 F9 W. u& |* O
Quebec and Atlantic Canada, according to a report released today by Royal
8 B) Y$ Z) w2 T$ A3 w3 H- uLePage Real Estate Services.
+ E% I- a5 R7 s2 I. b/ Z( c4 g# @1 \6 m' ]  g: S( M
    Nationally, market trends established through the first three quarters: @" K; }- z4 Y# X, e
are forecast to continue for the remainder of the year. Robust economic
$ H8 a# t- ?3 I, y4 ]conditions, low unemployment rates, modestly growing salaries and wages, and. g% W9 c! x; ]" J$ q
sound consumer confidence contributed to the overall strength of the0 P9 u& y9 z# I5 N% Q4 W5 v7 L1 O; \: f
residential real estate sector.
9 y, W" S& p& n  a; `0 c3 @4 c5 W" }0 ^6 T
    Of the housing types surveyed, the highest average price appreciation1 r) Z- K3 T* R  [/ X
occurred in detached bungalows, which rose to $300,365 (+16.3%)
( x6 }4 h) d" b" h* w3 [year-over-year, followed by standard condominiums, which rose to $211,562  ~: X2 Y1 J7 [
(+14.2%), and standard two-storey properties, which increased to $365,380( N( }& J# W0 G* b
(+13.2%).( \) n" U* {  O; L) A2 u

6 l5 k! n2 h( B- m    "Canada's sturdy housing market continued to demonstrate steady growth
: i) s, i( D; b1 M% ]7 W; aduring the third quarter. For all but the west, we have moved on from the
. F$ h' ~$ V* X/ Qfrenzied expansion that characterized the first half of this decade, and are
/ W/ e& e9 x9 p5 Dpoised to show continued growth at a more moderate pace," said Phil Soper,
  W" v. S" t8 }" _4 V7 }president and chief executive officer, Royal LePage Real Estate Services.) K7 J. q8 m# T, ^, h
"Gone is the sellers' market that we have lived with for some years. We) c9 ]) O& A$ P6 `
welcome the more reliable conditions that are characteristic of a healthy
, W  E; u; y: c5 Z: \! U, ?% _' Lbalanced market."
; t/ \: p0 |# p9 n0 x# J! }
% Y9 B3 U( b4 S1 E4 D    Despite the double-digit rise in average national house prices,
! H1 ^% j2 b. m( D$ rconsiderable regional variances were exhibited again this quarter. The shift! L1 x5 u1 v! W& \8 E8 t+ }2 Q5 t/ L
to balanced market conditions, which began in late 2005, has continued( O2 c. `$ [* f- @3 \5 ~' A; ]% q* V" v
throughout most of the Central and Eastern regions of the country. In the core* \+ G. c! `0 E7 z/ x( r
energy producing western provinces, the combination of very high in-migration,
2 K1 s% q* [  T( m/ M' ~, [. dmanageable affordability, and a shortage of inventory has driven record
5 \: _, K. F! O& @0 `breaking price appreciations.
$ j3 ~) R2 c5 r0 J: E5 ~) i% G7 X6 R3 X, w6 c$ [6 p
    Echoing the second quarter and supported by Alberta's rapidly expanding
4 ~7 N  d+ @2 P- meconomy, Calgary and Edmonton led the charge of Canadian cities with the
$ y& D# h. J$ I$ T  ~8 i. _7 \  g4 [largest house price appreciation in all housing types surveyed.
7 `/ x" V$ |1 X2 N! t4 \: n" M' i' @6 ~, `" Z: R
    In Ottawa and Toronto, growth remained steady, supported by solid) U8 H! k' C0 M& B" ^' B  U* D. X
economic fundamentals, an increase in available inventory and strong consumer
5 |2 N: L7 A" f) F$ G) Y+ w+ {$ U& Kconfidence. While the pace of price appreciation in Ontario leveled off) X0 B/ W( _8 ^4 t  o2 ~' m0 D
slightly, the province's real estate market remains poised for modest growth.8 B7 {( @* |( o% U
In Atlantic Canada, new housing and condominium construction offered buyers
1 }/ A' K+ c: [3 k5 \- z; Y1 A2 tgreater selection at more competitive prices, resulting in a slower rate of
- }; k. U% [: Oprice appreciation when compared with 2005.& C" K2 C: R! I- w' a. I
3 w! ^4 ~1 v9 v
    While the pace of growth in Canada has slowed, the domestic housing+ a1 Y4 D4 ^( [# c* K  h+ g% G
market is expected to outperform the American market. The economic and
% l8 A5 A6 S, `( H& _9 \) W" Mfinancial fundamentals driving the residential real estate sector in Canada
( i3 s# V6 M4 e5 ^* w5 M7 dare markedly different than those found in the United States.
1 `0 P& |- Q0 o% L. F
2 t% Q$ k( d9 i    Added Soper: "Canada's housing market is likely to outperform the! w- y& K/ M0 g) r# t6 Q/ f, r! @5 X
American market through 2007. A number of factors are working in Canada's
% L1 p4 H4 A9 K$ ?4 lfavour, including healthy personal and governmental debt levels, the
7 F/ H( @8 u8 E) grelatively modest rise in interest rates in our country, and general
& J& r; s+ |5 X: ]affordability in our major cities. In addition, Americans are now seeing the& ^; {6 @* v$ X# `3 N
downside of a tax system that encourages maximum homeowner leverage, and
$ y- @( f. P1 e- p: o- \aggressive financial products such as zero- and negative-amortization; x) E* P. F0 T6 Q& V
mortgages that work only in a high price growth environment."
9 v# g& y1 x- n. l' @9 t
& I5 ?# w' ~- W+ z4 p/ G    <<
, I- `( q6 Y$ v                             REGIONAL SUMMARIES
4 j  W. l6 Z, i    >>2 m  r" c6 F+ F" ?5 i0 ?/ y% [! x

& R5 B: }  R9 z1 f- h    Balanced conditions continued to characterize the housing market in
4 r, u$ m& D! m. u* wHalifax, as significantly higher inventory levels helped to moderate the rate9 r1 B0 Y# c% B$ @1 t& s
of price appreciation. Buyers were increasingly choosy, taking more time
7 G  t3 a% M3 Ulooking for newer, low-maintenance properties that were not in need of0 S5 N/ B2 u8 B" T. R5 n
renovations.
  W' b, L1 U9 n1 o- C+ d+ h! C1 J: l3 c& m
    The housing market in Moncton remained healthy and strong as a slight. x& q( X: m; Q% a  u* e0 h
increase in inventory helped to moderate the rate of price appreciation5 {: @  L6 o9 J/ v. o
compared to the same period in 2005. Activity was brisk throughout August and, l4 U, t- o* f9 w3 ~0 {: ^' o
September and is expected to remain this way through the fourth quarter.- }4 x! ]$ m, U# \

9 K. F' q7 ~2 u2 @: r    The housing market in Saint John underwent its traditional summer
$ F3 ~2 `6 O+ b. }  Islowdown in the third quarter, with activity picking up towards the end of the
3 p; j. H, h7 C' jquarter. The local economy continued to thrive, as construction on a new
8 P$ f  D( P3 ^' Y! _2 j1 Z600,000 square-foot shopping area has begun, bringing several new box stores
2 J& G: t, ]9 M/ t, x; l1 t, {to the area. Buyers have begun seeking less expensive fixtures for their homes' i& x7 J5 S) L
and are instead opting for more affordable housing options.9 `8 m) f9 c' W, W6 d6 a" D5 I

* `+ L; U5 ^& o. F5 b$ k; d! r& Q' w    In Charlottetown, the housing market started to move towards balanced2 r& {% U9 ]3 O9 p" H
conditions, as some sellers had to begin to lower the asking prices on their
/ o8 B" E. N) Y& jhomes to make them more competitive. Activity from out-of-town and US buyers. A. T) C9 Y4 B$ M- G! b1 v# i+ p7 R
was down slightly compared to 2005, likely attributable to the strong Canadian
& U% X) A) n3 A: M. h& L* M4 Mdollar. Inventory levels began to creep up in the third quarter, providing
" R; [& X, ~5 h' l  Mbuyers with more options when looking for a home.. m8 t; ?- B! l7 L9 n( \8 a6 _
) i' C. B- n$ }! y  g+ y7 T
    Activity in St. John's slowed slightly in the third quarter, particularly4 e" ?1 @) ?  n! x4 K; w
among higher-priced properties, where there was a slight over-supply of homes
8 O- z" r7 r2 t8 h6 spriced over $200,000. Listing periods have increased when compared with 2005,/ `; V' \, A/ O- G6 {- U4 L
as some of the pent-up demand that had characterized the market over the last# y& C: h* H4 d+ W; n0 p
few years has been satisfied, resulting in more normal, balanced conditions.
- U7 b; O7 Q! Z/ u9 x3 k# I4 K, x9 U+ i( m- P9 l8 r1 }" j- P0 f
    Montreal's housing market recorded modest increases in average house
4 `( k+ _* H; V1 p3 t; a3 Uprices, due to a slight seasonal slowdown in the third quarter as inventory
* H+ ^) g- ~0 P. C. Clevels rose. Part of this can be attributed to the fact that many renting
6 _$ F( x  l* @) a* R! xfirst-time buyers were motivated to close on the purchase of a home by July 1,7 p. N5 p+ [2 [2 U# x9 z
when rental leases expire in Quebec. Once this date has passed some of the$ r& I4 S( B: j% B7 z1 N  M
pressure is taken off the market, allowing buyers to visit more homes before
7 M3 k' T. T9 |9 e# ]& t" Cmaking a purchase.7 h+ m  F  a$ K/ x

' t4 D5 z% F# s; n" Z# S    Ottawa held its position as one of the country's most stable housing
& p* K) L) l. L. Ymarkets in the third quarter, reinforced by a vibrant local economy and strong4 g% f8 T7 e& e' k
confidence, resulting in modest increases in average house prices. The city
7 d: B/ N2 d( k' R) d" r; L1 ^# j2 Scentre remained a bright spot in Ottawa, with homes in this area attracting5 H9 b- \, e0 B7 ]( [* S8 z1 Q# C: m
attention due to their convenient location and proximity to downtown5 P- _0 ]* U' r- _0 k6 P& {
amenities.
( z! y" ~. _4 f* N- u) F
* a1 E/ A" N1 J& W2 Q* D    The housing market in Toronto sustained healthy activity levels
$ ^( m# [9 z! N! g" x; [throughout the third quarter, as a strong economy helped to maintain demand
! f) ?/ F  v' j! y) `across the city, causing average house prices to rise moderately. Toronto has
5 J# p# u$ {+ P7 T! j6 u0 Pcontinued to experience modest growth in average house prices, and has been' d: g1 S! l) X
driven primarily by purchasers who are buying homes as their principle
9 l9 b! b8 l& e/ |" Oresidence, rather than for investment.
) Z$ b7 v! _" _! q9 H9 e& F) n3 J) A( C6 f
    The vibrant Winnipeg housing market continued to show its strength as
; e, m0 q4 m: x+ mhouse prices rose during the third quarter. The booming local economy resulted
8 N$ T8 `: P0 {; p; l; b: tin a historically low unemployment rate, helping to bolster consumer, q( \% t/ e* F( A8 m1 m: o: M
confidence and Winnipeg's ranking as the city with the lowest capitalization' d+ D$ ]: M1 `3 h, f& d/ W
rate among the country's larger cities - helped to encourage buyers to enter/ {( N! w4 F  |$ w' Q# O
the market.
7 M; z1 t# u" R$ r* {8 }! i/ a/ r/ j1 s; M* ^1 E/ T
    In Regina, the market experienced a slight seasonal slowdown through; U2 b* s( M) T$ j* ^9 }
July, as there were fewer purchasers in the market due to summer vacations. In, |  U" y6 ^' s9 @0 \* l& f0 v
August, activity resumed to the busy pace previously seen in the spring
5 {# r  @* x% G0 e# Y& w" ~  l; I+ Gmonths, as the influx of purchasers made it more difficult to find a home due1 y1 G: A2 g& l& {8 b  L1 r5 c
to the shortage of available inventory.
9 v" S1 r, K3 ?9 X- F6 q0 q  S$ P1 Q& m
    Activity in Saskatoon remained brisk as the market maintained its
3 c1 [; h- a: e! U% _" s' D3 c$ Tmomentum from the busy spring sales period. The economy in Saskatoon remains. y# G! R3 x4 g- I* a# K
vibrant, as employment opportunities are abundant with many businesses
; s3 i' M4 g4 `: {8 hstruggling to make hires and having to recruit outside the province.& N& c# e6 N: D# u( f' z& k

! w. q5 z+ p4 w! O. ^    Calgary's housing market recorded blazing average house price increases% T; i1 ^8 b, z* D) T
in the third quarter, in all surveyed categories. The burgeoning economy, low' h/ Q4 g% I* J3 ~
unemployment rates and low inventory levels remained the leading factors that( V5 H2 B9 U4 ~- T5 A; ?$ ]
pressured Calgary's house prices upwards. However, regardless of the soaring. M* y# t, D' n( N
prices that characterized the market - even during the typically slower summer  D5 H) R6 A( D' E1 N9 f/ E- X
season - it is expected that activity will become slightly more balanced, as
; j0 f. A# V5 F: g: I) _buyers are becoming more reluctant to participate in the frenetic activity.

& B+ G& x& L; }' x9 ]0 R1 f" V2 c  V
    Edmonton's booming local economy continued to thrive in the third quarter- }3 g& |$ X2 _
as activity in the oil sands north of the city continued to flourish. Edmonton" L+ M0 K% g7 R6 A
remained the hub of activity for those coming to work in the oil industry,  m. _$ R7 g+ c4 H
maintaining tight inventory levels across the city, resulting in prices  v+ V2 ]$ }3 P; r0 o' t
increasing at record levels. However, as inventory levels continued to improve
$ r" G! H9 A; J$ ]% T5 \+ ~# pin the third quarter the rate of price appreciation should moderate slightly
* h3 A* A1 r  J- `towards the end of 2006.
   
! o$ o( m! q. a5 L
7 B! q1 h0 A$ x- _% iWhile Vancouver has seen a slight reprieve from the severe shortage of7 ]( j. O) R, i* l2 S4 E, T" f
inventory that had previously characterized the market, supply is still unable
+ H( z4 y" B+ n5 V" c7 \to meet demand, driving house prices upwards. Vancouver has a very diverse
; S4 G& I, J- I. Rgroup of active buyers - from first-time home buyers to baby-boomers to) M. a3 G7 Q- Q, N0 m  Q3 {) H& n
foreign investors - all of whom fuel the demand for houses, placing added
, f- p; k, H5 f6 s+ `3 O, ]* a. Ypressure on tight inventory levels.5 g" Q' l! D0 \" {
( q  e" p9 l$ o
    Victoria's market is vibrant and supported by strong economic) Q( o4 x; |7 K6 W
fundamentals, fuelled by a booming tech sector and a migration of young people
, T$ j7 G0 w2 j2 T  V" v+ Ninto the city that has continued to support the area's house price increases;4 P- {& ?! y/ N* o5 z' A0 a
while increased inventory levels have afforded buyers more time when searching
$ m% R* [# f4 J! nfor a home, helping to normalize the market's pace.
& m1 r- N6 _- B1 N& Q# M6 p, W- w! i! a( x3 N4 t: V
    <<; f0 E/ s. }0 |$ K7 }+ @
      Survey of Canadian Average House Prices in the Third Quarter 2006
- j0 q. D7 w2 e+ j5 `/ R0 U" `5 _' q3 E4 P& L; d
    -------------------------------------------------------------------------
2 v! B) I& ^8 B                 Detached Bungalows                Standard Two Storey/ s' Q& J: E* ^3 [* p0 c/ d
    -------------------------------------------------------------------------' L: r$ U; u& l- ]
                     2006 Q3     2005 Q3    Bungalow     2006 Q3     2005 Q37 ~* m, O  n6 U3 X: `
    Market           Average     Average    % Change     Average     Average
7 J0 Z* U; r; ]* X4 l! v' [    -------------------------------------------------------------------------3 C6 L* b- s% L$ f1 m
    Halifax          186,333     173,333        7.5%     198,667     199,000- e) A2 i; M6 X% a6 y2 z7 p' \
    -------------------------------------------------------------------------
) E  q$ s) s" b- d) {    Charlottetown    145,000     141,000        2.8%     175,000     170,000
& ^( [5 |, N9 J6 }) r1 v) e    -------------------------------------------------------------------------0 \+ a; e* [1 [* x
    Moncton          135,000     127,000        6.3%     129,000     123,000; ]2 D/ J2 V( G4 X
    -------------------------------------------------------------------------
: Y( X/ G' L& b3 s% n    Saint John       141,200     142,900       -1.2%           -           -# i; L6 w) H' X5 |4 j: d/ a1 S. H* H
    -------------------------------------------------------------------------
( S& R0 E- B8 Z3 c4 I    St. John's       143,667     142,667        0.7%     200,667     202,333- k3 ?$ W' u1 T8 |3 E
    -------------------------------------------------------------------------
9 m+ q. g3 M5 J" s    Atlantic         150,240     145,380        3.3%     175,833     173,583
+ j$ |& i  S- l% z/ N2 w, n    -------------------------------------------------------------------------, M+ D3 e+ O- y: o! i
    Montreal         213,691     203,500        5.0%     321,141     316,185* T) A# \5 J' ?; h
    -------------------------------------------------------------------------
% K* Y, J) Y; Y% |" F    Ottawa           290,083     278,417        4.2%     285,667     273,250: c2 `$ H5 S, g7 p& f% i
    -------------------------------------------------------------------------' m3 L. ], T) m
    Toronto          373,368     355,882        4.9%     481,523     474,766
  L1 l3 t: l' S( h+ b/ l9 @    -------------------------------------------------------------------------
- i. P9 V. a; l" a    Winnipeg         181,579     159,860       13.6%     202,337     180,707) }$ E9 J8 @: Y, Z
    -------------------------------------------------------------------------7 O- S4 w9 q2 p  \' K
    Saskatchewan     170,667     156,083        9.3%     182,600     166,500/ q' I3 q1 l- G, t( ]
    -------------------------------------------------------------------------& ^, ?% J- y, n
    Calgary          395,067     252,411       56.5%     405,778     264,389
9 P+ A$ s" n: n& r' n    -------------------------------------------------------------------------
) m$ _8 w& v* S. o/ w- w    Edmonton         286,857     194,857       47.2%     316,429     206,714
( Y- c# s1 w( V- D    -------------------------------------------------------------------------5 f4 r& A* L0 `, `# x
    Vancouver        704,250     601,000       17.2%     794,000     697,500* T; k1 v: N( G* V1 \
    -------------------------------------------------------------------------. l% r9 Z1 W2 n6 S
    Victoria         375,000     348,000        7.8%     403,000     391,0000 i1 g# N' v7 `7 T- m: w
    -------------------------------------------------------------------------
7 \8 ~/ Q& S  ~4 q+ ?+ S* s" r; [    National         300,365     258,202       16.3%     365,380     322,860; ^( R( F$ i- A! c# C* d
    -------------------------------------------------------------------------
5 _$ x) D. O. K+ d& D3 a
& x* q1 ?% G8 U7 Y7 x7 ]: k& [( w    -------------------------------------------------------------
- @, @( n5 i8 V" `# ~# M, |                               Standard Condominium
! }( U1 R7 b7 o7 u    -------------------------------------------------------------
6 v, w* I- Y: ^2 F# d7 g                    2-Storey     2006 Q3     2005 Q3       Condo
& A! ]  M* n! T7 O1 |4 A    Market          % Change     Average     Average    % Change
4 P( p: w7 W+ F( p! Y/ u+ n    -------------------------------------------------------------0 Q7 Y8 A  l# r0 t3 y! c: y3 X
    Halifax            -0.2%     142,000     103,000       37.9%
6 v9 O4 B6 M7 l/ k    -------------------------------------------------------------
# _( r! Q. Y3 ?' ^- c    Charlottetown       2.9%      98,000      98,000        0.0%  E" c3 @  h$ x$ b! h
    -------------------------------------------------------------/ v' q( t# @' {5 j
    Moncton             4.9%           -           -         N/A! j  T4 u& P4 H: d2 D$ K" W* A
    -------------------------------------------------------------) D& Y  e# x* j0 e7 z2 V4 u
    Saint John           N/A           -           -         N/A
* t/ J) q0 Y- q    -------------------------------------------------------------
( A4 P8 L9 J( @0 K' z    St. John's         -0.8%     146,333     145,667        0.5%8 m# i- k  d& m+ r$ p' I# R& B! f
    -------------------------------------------------------------( s2 Y9 S. H- M8 m* f
    Atlantic            1.3%     128,778     115,556       11.4%1 a$ _! k8 ~2 {" E
    -------------------------------------------------------------
- _- E' M0 o2 ~2 [; a) \: k1 S    Montreal            1.6%     193,190     188,016        2.8%# p9 r# l9 }; a2 M& H9 Z0 \
    -------------------------------------------------------------# ~6 k2 C  s8 l$ J) b% m
    Ottawa              4.5%     181,083     172,250        5.1%" ]7 S9 y. K+ U2 O3 \" Q; ^: [
    -------------------------------------------------------------6 N! I$ R1 k* ]2 }7 e
    Toronto             1.4%     252,088     242,918        3.8%
/ b0 f6 L1 ]; ?    -------------------------------------------------------------* t) V. @2 |8 C* s' U# L
    Winnipeg           12.0%     105,648      96,008       10.0%
! g" m+ [" O! e' S6 F) P) p$ @    -------------------------------------------------------------
# v& e8 N5 e( k3 B; H    Saskatchewan        9.7%     106,250     101,000        5.2%; n! _; ^3 G0 P8 |) g
    -------------------------------------------------------------; V. q7 z  L1 v9 w
    Calgary            53.5%     245,844     153,867       59.8%9 V+ l7 B( B5 b1 h* c% J
    -------------------------------------------------------------+ ?1 R4 _, k$ Z& y3 k5 ?* n
    Edmonton           53.1%     200,433     131,500       52.4%$ U" z0 H. V+ i/ N
    -------------------------------------------------------------/ t0 Z& S* P1 O1 Z
    Vancouver          13.8%     366,250     323,250       13.3%
& C# u, |8 z* y+ w    -------------------------------------------------------------
( I" u$ u1 Y0 a4 I    Victoria            3.1%     229,000     220,000        4.1%
$ M! E3 P$ G: n- k: ]% J9 x" W    -------------------------------------------------------------
+ X" r$ Y- [6 T$ O, W6 F8 p    National           13.2%     211,562     185,296       14.2%
5 O5 L5 X, O: @' Y    -------------------------------------------------------------
: r+ ^! O  R  L  {/ X# P1 A    >>; j9 ?9 B# D; X8 k
* {1 |6 v! m, k  H" `3 ^
    Average house prices are based on an average of all sub-markets examined5 [$ u1 {/ `# x1 h
in the area, except for the smaller markets of Charlottetown, Moncton, Saint# m5 ]" h: R8 k2 J/ W$ p& |
John and Victoria.
( Q+ \; k: N+ q+ \
  S  B, E. W8 R) V5 s6 b/ F  o    The Royal LePage Survey of Canadian House Prices is the largest, most% H' _6 i5 o; N: p
comprehensive study of its kind in Canada, with information on seven types of! H& `. Z3 a  `) Y0 o, k3 D+ s8 Q
housing in over 250 neighbourhoods from coast to coast. This release
% W! C- [) l+ R3 d) t* W. freferences an abbreviated version of the survey, which highlights house price
/ t+ h9 }0 n7 f' x3 Ntrends for the three most common types of housing in Canada in 80 communities% P/ }5 S) @" V1 Q! N* ]' {
across the country. A complete database of past and present surveys is
0 ?; P5 K  H& P& B0 v$ o2 Gavailable on the Royal LePage Web site at www.royallepage.ca, and current- |/ j9 x& p6 U, _0 w! o3 d
figures will be updated following the end of the third quarter. A printable5 j) ]# I, i! a2 f* B
version of the third quarter 2006 survey will be available online on
; ?: ^) J$ j6 t" kNovember 15, 2006.6 t) o2 U( K: I# G
    Housing values in the Royal LePage Survey are Royal LePage opinions of
3 T' t/ f% O( N: x4 mfair market value in each location, based on local data and market knowledge- s: M4 j3 s2 W
provided by Royal LePage residential real estate experts. Historical data is
2 J+ W4 n4 {% C! w: J4 vavailable for some areas back to the early 1970s.
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