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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
: y+ q8 r7 C8 B7 X5 K9 B7 `) e) z5 g* ~5 k  p! u
- Country's market poised to show growth throughout 2006 -0 n# j# j/ b0 M" f9 T

5 t: T6 c, x$ ]3 h9 B7 z    TORONTO, Sept. 28 /CNW/ - For most of Canada, the housing market
' {7 S2 f: L+ x% xexhibited moderate price increases and stable unit sales during the third
  V) `% Z; E+ L1 D3 q+ N5 vquarter. Wide regional variances continued to be the dominant characteristic
1 e* m) C5 O* a/ {- ]in the market, exemplified by frenzied levels of activity and double digit3 [9 X& k  m& X5 @& \
price gains observed in the energy and commodity rich Western provinces, and
. a9 B  i7 W- X( ^; N' tmore reasonable sales volumes and moderate price appreciation in Ontario,
9 v' A+ }& v' [# M8 ~& d, C7 z$ V3 |Quebec and Atlantic Canada, according to a report released today by Royal8 q+ {2 b2 q, |* R, ~
LePage Real Estate Services.
6 }0 @! x, c% B5 i, j2 F1 A8 h
4 G' o# W& B$ Z' }1 F    Nationally, market trends established through the first three quarters$ _. k9 T- a" E9 U( r7 ^
are forecast to continue for the remainder of the year. Robust economic
$ l$ _4 j7 u( C' A* Sconditions, low unemployment rates, modestly growing salaries and wages, and3 m! h1 g( X, x& v# H3 V- L1 P
sound consumer confidence contributed to the overall strength of the
+ v9 X% A8 I, l8 _/ bresidential real estate sector.
6 Q) |; B1 r" ~! p( b; ?  `
. ^9 S7 f  C9 O' Z0 ~% a7 V    Of the housing types surveyed, the highest average price appreciation  \- R, T! m5 E; O
occurred in detached bungalows, which rose to $300,365 (+16.3%)* @/ ^! S/ y8 b/ X$ O
year-over-year, followed by standard condominiums, which rose to $211,562
+ a: }2 z5 B; P5 @" z$ l(+14.2%), and standard two-storey properties, which increased to $365,3808 d0 ?: O4 ~( p
(+13.2%).
6 F9 E8 Z) A3 p2 X! R. }7 q' i0 x1 B  c0 I7 h- E* P9 k) s$ i. A& f
    "Canada's sturdy housing market continued to demonstrate steady growth
) s: B# g% N& w8 ], S+ tduring the third quarter. For all but the west, we have moved on from the$ Q% ^$ p4 E4 g, U" B* z; h# [
frenzied expansion that characterized the first half of this decade, and are
: _. z" g' j8 Y% Tpoised to show continued growth at a more moderate pace," said Phil Soper,
( i8 ~% R( Z) K! Cpresident and chief executive officer, Royal LePage Real Estate Services.
0 i. }8 R& M! E$ {"Gone is the sellers' market that we have lived with for some years. We! V0 D9 U* Y5 q2 d0 N  _- D
welcome the more reliable conditions that are characteristic of a healthy2 f) z+ N0 w# }  g2 c* I
balanced market."
0 e) r4 c, P  b
2 Z) @- Z0 a6 m: s    Despite the double-digit rise in average national house prices,
0 d5 g" _3 [/ ]- \( Gconsiderable regional variances were exhibited again this quarter. The shift
2 [  _7 F5 q! C) q" bto balanced market conditions, which began in late 2005, has continued& @+ y% ?; q+ U; {1 q+ s; |5 m/ r' [
throughout most of the Central and Eastern regions of the country. In the core- \2 \# {5 O! ]2 w5 k  O9 ^' a
energy producing western provinces, the combination of very high in-migration,
0 W( B" F4 b! B' {- _/ L5 ?, t: kmanageable affordability, and a shortage of inventory has driven record
& r; L  m  A/ Y. R: ^" B" \breaking price appreciations.
7 a/ s/ K3 {/ S4 e# T, _
& Z4 Y, B" _& \; t& J    Echoing the second quarter and supported by Alberta's rapidly expanding
, j* k6 s" ]' ~3 _/ J; f6 x) Deconomy, Calgary and Edmonton led the charge of Canadian cities with the4 p% I/ w+ b1 m( u  X- ?9 l
largest house price appreciation in all housing types surveyed.  F% A1 C& O4 q, E

6 l+ Q2 Y/ e. y. D7 G% x- {" b    In Ottawa and Toronto, growth remained steady, supported by solid0 i) G; \& h/ ?( D, ^7 r
economic fundamentals, an increase in available inventory and strong consumer
+ F! |8 ?% h2 ~: E% u6 u; t$ bconfidence. While the pace of price appreciation in Ontario leveled off
) n* G1 G  c& W8 Gslightly, the province's real estate market remains poised for modest growth.3 V, Y$ F* P3 W1 b( ?, ]/ e
In Atlantic Canada, new housing and condominium construction offered buyers& G) k3 g$ S! R; }2 |
greater selection at more competitive prices, resulting in a slower rate of6 W7 Z3 [  O) L) d; U( z* D
price appreciation when compared with 2005.
$ `& V) P6 e4 e7 e5 y# u% q! n6 Z% \9 W8 O0 }
    While the pace of growth in Canada has slowed, the domestic housing
6 A+ ~; S5 Z9 j! m; g* g) K  \; ~' Bmarket is expected to outperform the American market. The economic and
; i9 F! z, l: M9 d9 `/ ufinancial fundamentals driving the residential real estate sector in Canada
3 I0 m6 t! U+ c1 v/ f0 Oare markedly different than those found in the United States.
7 n1 k7 M1 l  g$ ~1 l9 V& R5 X1 r1 u8 W7 b
    Added Soper: "Canada's housing market is likely to outperform the' ^3 Q9 b* F. ^& M
American market through 2007. A number of factors are working in Canada's
$ [* d3 C/ E; Z( xfavour, including healthy personal and governmental debt levels, the9 A6 K9 D, o( ^; \+ J6 c4 D' t
relatively modest rise in interest rates in our country, and general$ p1 c4 t: W4 Q! _+ M' i
affordability in our major cities. In addition, Americans are now seeing the$ Y! H5 ?* b% {+ {, ~" A
downside of a tax system that encourages maximum homeowner leverage, and
& h3 r8 S/ o+ _  @2 G7 d% Maggressive financial products such as zero- and negative-amortization
) h5 H6 G7 f; d% f- s( z0 _mortgages that work only in a high price growth environment."  g  Y6 a' M% J+ G" u( [) K9 }

: y4 J! g- b0 x9 h    <<- A1 A5 P  B5 L) _1 k
                             REGIONAL SUMMARIES
8 b0 T( l- x. M    >>
$ }& f. y; }! [, |8 h8 `. C. Q* |, k5 Y! p0 U
    Balanced conditions continued to characterize the housing market in, g  m: I. t0 K  D+ S! L' ?( Z
Halifax, as significantly higher inventory levels helped to moderate the rate
5 I4 Z: g2 {# J3 \of price appreciation. Buyers were increasingly choosy, taking more time
8 h  p( [6 P5 \% ]& E4 glooking for newer, low-maintenance properties that were not in need of
9 t* F& G7 t5 j8 H$ k4 Arenovations.
9 Z6 z# m* v* z
5 @! E& K- s+ O8 c+ d! b    The housing market in Moncton remained healthy and strong as a slight8 ?0 O% C" p$ l  u  Q( x- \
increase in inventory helped to moderate the rate of price appreciation
$ a# F0 D- @3 ]0 K6 ?3 t' v% Mcompared to the same period in 2005. Activity was brisk throughout August and
: z) T: i5 E1 c  k" nSeptember and is expected to remain this way through the fourth quarter.
% ^% J7 Q6 g7 w9 [, f
4 C2 c0 f; J3 n# y* i' k( W1 v    The housing market in Saint John underwent its traditional summer6 m& d* H9 k5 J  d4 k, M! s
slowdown in the third quarter, with activity picking up towards the end of the
) g1 ~" U* }# b3 h( j- e% Zquarter. The local economy continued to thrive, as construction on a new7 i0 g# I3 l5 W  X0 I- ^! n
600,000 square-foot shopping area has begun, bringing several new box stores0 ?, J2 c, f! d* m8 K& Y0 s
to the area. Buyers have begun seeking less expensive fixtures for their homes" l# q! m# ?  \+ A
and are instead opting for more affordable housing options.
: n" [& x- F" b- Q4 w8 d8 \' X/ _! b* g  |% O! m( |
    In Charlottetown, the housing market started to move towards balanced6 R5 b/ G8 Z! ?+ h
conditions, as some sellers had to begin to lower the asking prices on their$ C8 p* }0 J1 c! c, t  n
homes to make them more competitive. Activity from out-of-town and US buyers
: }& z  P2 q/ ?3 _8 X. swas down slightly compared to 2005, likely attributable to the strong Canadian0 }4 l" M! r; j+ Y
dollar. Inventory levels began to creep up in the third quarter, providing1 g1 t# y9 U' |5 s* ~. Z1 S
buyers with more options when looking for a home.4 a- b$ S$ Q3 _
% }$ e) _$ X. c. s
    Activity in St. John's slowed slightly in the third quarter, particularly
0 n3 w$ x# F8 m, e% ~6 Camong higher-priced properties, where there was a slight over-supply of homes
# P8 K) M0 o/ H- W; \4 p) wpriced over $200,000. Listing periods have increased when compared with 2005,
8 a0 ]4 G. ]6 G' K* \/ uas some of the pent-up demand that had characterized the market over the last
) \- \: a3 d2 V" Cfew years has been satisfied, resulting in more normal, balanced conditions.
. U1 k" H. r7 U8 [( ~2 ]0 Y- Z% f5 R" x7 l4 ]
    Montreal's housing market recorded modest increases in average house
' v8 k. l- Z, v8 K& S! k% hprices, due to a slight seasonal slowdown in the third quarter as inventory
. H/ ^9 v3 u+ m; n& r) B) e* tlevels rose. Part of this can be attributed to the fact that many renting6 w; {' ^; t1 Y5 p
first-time buyers were motivated to close on the purchase of a home by July 1,! }! u* |" o' G8 P7 n& A- _
when rental leases expire in Quebec. Once this date has passed some of the. M3 r' l# m9 B! n7 D8 _. S+ O
pressure is taken off the market, allowing buyers to visit more homes before
, [6 B* ]$ ?' l/ ymaking a purchase.& ?$ o! K) j0 F. T  m! N' D

) K6 w6 P( P7 [3 w8 e2 {: c/ J    Ottawa held its position as one of the country's most stable housing
4 \# e$ }7 `* x% T2 J/ lmarkets in the third quarter, reinforced by a vibrant local economy and strong
5 g( `: n) G" s! `confidence, resulting in modest increases in average house prices. The city
! ?, D1 H* @7 k1 Ycentre remained a bright spot in Ottawa, with homes in this area attracting, b# x) e* \# l  q+ e" D7 O
attention due to their convenient location and proximity to downtown, f1 Q  o9 d6 _: h2 Z0 E3 ^; ^
amenities.) k8 ?! r% e. J6 C! I- ?
* c3 L" y: W+ d- V% O
    The housing market in Toronto sustained healthy activity levels
0 [  N+ y3 A2 \/ H. Y1 pthroughout the third quarter, as a strong economy helped to maintain demand
0 D; o; D. J  ]1 T$ ^; u7 Q) dacross the city, causing average house prices to rise moderately. Toronto has' h% O. i; s0 U# h+ r; \$ R
continued to experience modest growth in average house prices, and has been
. W4 a. P; C& C  e! e# d3 T2 @$ Jdriven primarily by purchasers who are buying homes as their principle
" ?! J# Y. n' U" g3 h. {1 gresidence, rather than for investment.
. R) i7 O5 V+ r) `* {7 @* ?* h6 O$ S. ~
    The vibrant Winnipeg housing market continued to show its strength as
7 b4 L. i; Z) k& |house prices rose during the third quarter. The booming local economy resulted) V: \4 \- i% X/ |- y
in a historically low unemployment rate, helping to bolster consumer
# W' t9 B  g2 E: d+ mconfidence and Winnipeg's ranking as the city with the lowest capitalization* |5 @5 @9 u' C1 r% M& Y+ L
rate among the country's larger cities - helped to encourage buyers to enter
- g+ x+ P" X1 V' L2 M1 a; Vthe market.: l; M2 W' Q- f+ o
% J6 j4 q# c  s, f
    In Regina, the market experienced a slight seasonal slowdown through. F5 h+ C' b) v5 Q# o
July, as there were fewer purchasers in the market due to summer vacations. In
7 X8 F$ {% o% W  I+ \1 PAugust, activity resumed to the busy pace previously seen in the spring/ p; J! Q; t9 O5 ~, i  O
months, as the influx of purchasers made it more difficult to find a home due
+ |6 L5 @# \& Q% c5 h8 Z6 cto the shortage of available inventory.
- x+ g2 p! x6 ?* X$ y
% y$ l& g- q" J1 g7 N    Activity in Saskatoon remained brisk as the market maintained its
5 E- Y4 V; X$ y& O. X8 Rmomentum from the busy spring sales period. The economy in Saskatoon remains
$ o! x$ A! ^1 a6 x! C! bvibrant, as employment opportunities are abundant with many businesses
" X' \( X6 d# Ystruggling to make hires and having to recruit outside the province.
3 Y5 {. G4 p. y* ]$ Q& m5 r" ^
: ?- l( v, b- z. B8 h$ |& v( \5 T    Calgary's housing market recorded blazing average house price increases  k' H; R% v& y( B
in the third quarter, in all surveyed categories. The burgeoning economy, low4 T; m# Q6 T" r2 I$ A( U
unemployment rates and low inventory levels remained the leading factors that
. x( @$ k& k9 D- Z4 j( mpressured Calgary's house prices upwards. However, regardless of the soaring
7 w* {( g3 z: sprices that characterized the market - even during the typically slower summer
: D$ d! u' O  p9 Z2 M) E" o! z% Nseason - it is expected that activity will become slightly more balanced, as' q1 F7 g: p5 {1 S
buyers are becoming more reluctant to participate in the frenetic activity.

8 r5 `2 d" b. f9 K; i1 ?8 I( L
$ Q) F0 M9 l0 P3 R- G    Edmonton's booming local economy continued to thrive in the third quarter
: ]: X# L6 X' has activity in the oil sands north of the city continued to flourish. Edmonton
7 X# T  R, t, s9 t8 ~remained the hub of activity for those coming to work in the oil industry,5 p# `' m. S. h- W( T& ^$ D" \/ R  t
maintaining tight inventory levels across the city, resulting in prices1 F: f) e5 y; b( {  F
increasing at record levels. However, as inventory levels continued to improve
* ^0 h1 M# r+ i+ L1 Rin the third quarter the rate of price appreciation should moderate slightly
, V) _( [; q8 y/ Y% H* ctowards the end of 2006.
   
' X  ~8 C% v% k
  K9 c. m5 M4 x4 [While Vancouver has seen a slight reprieve from the severe shortage of
8 y" B' @' x: s6 Q5 L. |inventory that had previously characterized the market, supply is still unable. w" a: N! w' r& ^0 [
to meet demand, driving house prices upwards. Vancouver has a very diverse1 s4 \, V- H6 d2 y: T8 B
group of active buyers - from first-time home buyers to baby-boomers to9 d% g7 R4 x( |! F
foreign investors - all of whom fuel the demand for houses, placing added
' l2 }# |/ }  D) |! [pressure on tight inventory levels.
# ~! z9 N9 s+ Q+ p8 f- P8 v
9 {* v1 _. j8 n4 \8 |$ I    Victoria's market is vibrant and supported by strong economic% u1 X3 ^- ]: [; V0 z
fundamentals, fuelled by a booming tech sector and a migration of young people, C0 G2 a$ N0 ]5 j. K
into the city that has continued to support the area's house price increases;7 d: H- E/ U/ j5 |8 P* a( N6 [# J7 y
while increased inventory levels have afforded buyers more time when searching: ^- `+ \% D" |" W
for a home, helping to normalize the market's pace.( k% d* M9 J; U( B' Y! V

+ r( s- H! q: S0 b    <<
4 k) H. x3 H' A7 N      Survey of Canadian Average House Prices in the Third Quarter 20069 F2 T9 N8 a7 ]4 G8 `' }/ N& z

5 F$ ?7 c/ V+ [5 m) a# V$ G3 W    -------------------------------------------------------------------------) ]6 ]5 o  D" f) \0 O: G4 @
                 Detached Bungalows                Standard Two Storey
7 |7 F' U, b3 i% `; N    -------------------------------------------------------------------------
+ A4 G1 }- K, z                     2006 Q3     2005 Q3    Bungalow     2006 Q3     2005 Q3
0 v- ^6 r1 B, g7 |: T; L    Market           Average     Average    % Change     Average     Average
& S* L2 O# ?" `' s/ y, X    -------------------------------------------------------------------------' m* t; r8 L8 k& I) T3 c5 p% |
    Halifax          186,333     173,333        7.5%     198,667     199,000& f; g* f& S# m' d6 T6 Q8 N  e! r5 n
    -------------------------------------------------------------------------
$ S0 N  I/ C8 H% b' j) N    Charlottetown    145,000     141,000        2.8%     175,000     170,000
2 c. k6 A' x/ u# x( n3 T    -------------------------------------------------------------------------' r, S3 n# x' o, Y5 Q0 t
    Moncton          135,000     127,000        6.3%     129,000     123,000
( F: S" ^* {9 @# w- z    -------------------------------------------------------------------------: F  x1 X, E  \; E' z% l6 x  T$ P
    Saint John       141,200     142,900       -1.2%           -           -
2 L# }6 H+ I! q8 p4 k7 w    -------------------------------------------------------------------------
9 ~9 p" l+ T, q4 p4 O    St. John's       143,667     142,667        0.7%     200,667     202,333: s3 H; E! h% f) I; Y
    -------------------------------------------------------------------------
7 v! X* j* F1 K' s% Y    Atlantic         150,240     145,380        3.3%     175,833     173,583: ^! [4 N4 x4 j" n- J
    -------------------------------------------------------------------------
% m3 a, f! A" ~) ^    Montreal         213,691     203,500        5.0%     321,141     316,1857 c+ {. k! s4 I2 K* q/ w; g
    -------------------------------------------------------------------------
3 @7 C  q& L4 H- Z) V4 ]* u0 D    Ottawa           290,083     278,417        4.2%     285,667     273,250
4 n6 c- {8 {+ B    -------------------------------------------------------------------------
/ q- u; [" @! Z- l( b' t* W    Toronto          373,368     355,882        4.9%     481,523     474,7669 \6 Q8 e5 r$ c& t6 G
    -------------------------------------------------------------------------2 t2 I2 W0 e, E
    Winnipeg         181,579     159,860       13.6%     202,337     180,7071 F  R. @' L( r6 ^0 j, |; h
    -------------------------------------------------------------------------( w6 i" t  T) a" A8 b
    Saskatchewan     170,667     156,083        9.3%     182,600     166,500# p8 @- j# a% h1 y8 [9 X$ d
    -------------------------------------------------------------------------
: Z* K, q; a6 C* H5 r, H, U- d4 Y3 N    Calgary          395,067     252,411       56.5%     405,778     264,389$ ~' u; n7 R! t2 a1 u6 z
    -------------------------------------------------------------------------
: Q1 f5 a6 ^) I! v/ L, `    Edmonton         286,857     194,857       47.2%     316,429     206,714- t# \% _$ d# H& E" W" w
    -------------------------------------------------------------------------" W6 w& \( H4 R  R
    Vancouver        704,250     601,000       17.2%     794,000     697,500, j3 J& p7 h% G+ `4 @5 o( C
    -------------------------------------------------------------------------
9 y7 t7 B: k3 j! B2 I5 h( I    Victoria         375,000     348,000        7.8%     403,000     391,0001 P3 v8 S- h. x
    -------------------------------------------------------------------------
& B0 q2 R# R) u4 Y' _) r    National         300,365     258,202       16.3%     365,380     322,860$ |- P; X0 W# x3 l
    -------------------------------------------------------------------------/ |% V3 \( V5 E1 A5 [
% U+ ^% V7 e+ K0 u
    -------------------------------------------------------------
! Z# P/ Y0 A0 h( ~1 _; F                               Standard Condominium% f" \* q, }* ?% y! g
    -------------------------------------------------------------! k8 j3 V' Q. M4 u& [6 }: G
                    2-Storey     2006 Q3     2005 Q3       Condo
8 G# e7 O* E4 b, q, n  v( c    Market          % Change     Average     Average    % Change. n4 Q0 D, g2 L8 H( T
    -------------------------------------------------------------
' E5 W# [8 j) T8 m6 z' H7 N7 S4 }    Halifax            -0.2%     142,000     103,000       37.9%
& u0 c. n% {1 P' \    -------------------------------------------------------------; B8 |0 ~" I2 F! J
    Charlottetown       2.9%      98,000      98,000        0.0%2 F4 M' m9 `7 |2 d8 G' x
    -------------------------------------------------------------2 r% f0 J2 u0 U' u) c; @( m) z& \- R5 d
    Moncton             4.9%           -           -         N/A
& n9 R5 f& _2 ~& R, c) M7 z- X    -------------------------------------------------------------
: m% R( ^& C( `% {    Saint John           N/A           -           -         N/A
* ~0 ]- `6 |5 A& ?2 F% M* a    -------------------------------------------------------------( d' u, a8 R' q) M& B5 u
    St. John's         -0.8%     146,333     145,667        0.5%
6 I3 A. t1 D8 p. m' d1 e- P; x4 a2 h    -------------------------------------------------------------/ S3 s4 `  L' ~
    Atlantic            1.3%     128,778     115,556       11.4%
& \3 U  I3 ^8 [; e2 s3 Y) A( ?3 z* E% H; v    -------------------------------------------------------------
) \/ J( K' c: Q* U    Montreal            1.6%     193,190     188,016        2.8%" {+ D; i& P- C# k; E( G: v
    -------------------------------------------------------------$ ]+ b. a1 b. s  w5 ]
    Ottawa              4.5%     181,083     172,250        5.1%2 Y, a$ M8 |3 l- A! A" K. q
    -------------------------------------------------------------
& }% J  D! S3 y/ E% `8 B$ X& T    Toronto             1.4%     252,088     242,918        3.8%! t* A4 E8 P' i6 C, _7 o6 k& O
    -------------------------------------------------------------
# Z6 `/ q& E5 o: _- T$ y- }+ j0 G+ f    Winnipeg           12.0%     105,648      96,008       10.0%
  T/ N  v) Q: D6 \    -------------------------------------------------------------# ?7 s( x5 F' `4 ^4 [1 `* C
    Saskatchewan        9.7%     106,250     101,000        5.2%
( E* s3 |( a9 L5 p: c    -------------------------------------------------------------- S+ _2 h* Y" U
    Calgary            53.5%     245,844     153,867       59.8%. a; c+ A% F6 Z
    -------------------------------------------------------------# q+ ~9 o6 n4 k% B2 Y
    Edmonton           53.1%     200,433     131,500       52.4%
2 V- V# n5 H* J' B    -------------------------------------------------------------
  K- N) |5 O' F1 V    Vancouver          13.8%     366,250     323,250       13.3%) ]3 @) a, L- n( V* ?
    -------------------------------------------------------------
+ u- f: j+ v* I& L3 b    Victoria            3.1%     229,000     220,000        4.1%" ^* P( c* ~. R. W6 \
    -------------------------------------------------------------
' A6 v! a  a0 p- [. k$ Z" j    National           13.2%     211,562     185,296       14.2%
( r+ g& j& F$ r9 a( \. o$ m    -------------------------------------------------------------( ~0 Z, R/ o. E9 a' b- i3 F
    >>
$ Y3 a* s. ~5 V% ]
, `. m) E/ J6 g$ m% M/ |    Average house prices are based on an average of all sub-markets examined
( b$ p3 [3 [5 k8 t: {& q% h  kin the area, except for the smaller markets of Charlottetown, Moncton, Saint
. q: @3 t. E' N. L9 [" F2 K- `$ T, hJohn and Victoria.( c; I1 T, ?9 B7 v7 x4 F  O8 H

3 z# r+ T" x$ Z3 n  s    The Royal LePage Survey of Canadian House Prices is the largest, most
9 a0 F$ C' \2 A) `% O3 y* Ycomprehensive study of its kind in Canada, with information on seven types of  C, @, d; W, l/ O5 b
housing in over 250 neighbourhoods from coast to coast. This release" y2 @0 ^" c- M8 C( D8 b/ m
references an abbreviated version of the survey, which highlights house price: b  n  J- H, ^" O( G
trends for the three most common types of housing in Canada in 80 communities) Q/ y# f2 s+ \
across the country. A complete database of past and present surveys is) w7 z+ K# P$ ~, C! A7 c
available on the Royal LePage Web site at www.royallepage.ca, and current
9 Y" h2 D- y. x/ ]7 T# s* \figures will be updated following the end of the third quarter. A printable+ e8 e1 G! a3 R, v! p( `, g
version of the third quarter 2006 survey will be available online on
0 O8 k  r' v4 w$ e6 P$ o' G! ^. ONovember 15, 2006.# `& R! h6 p9 Q' Z2 F% P
    Housing values in the Royal LePage Survey are Royal LePage opinions of
& k6 ^( ~. q) d4 f5 Gfair market value in each location, based on local data and market knowledge; B3 n3 ~% j1 F6 V
provided by Royal LePage residential real estate experts. Historical data is* f. J4 U, @0 S
available for some areas back to the early 1970s.
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