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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
5 F9 i" g/ B( f, a2 r9 Q- a
& c# n: g6 P1 B0 J1 L3 @( f% o- Country's market poised to show growth throughout 2006 -
- B! j; N9 U) S2 Z! z5 }- \
& ]' Q1 c' X" l' i) |    TORONTO, Sept. 28 /CNW/ - For most of Canada, the housing market
4 |1 w& p* F- Z( Aexhibited moderate price increases and stable unit sales during the third6 {1 {/ F( h7 v) Y/ w9 m' f
quarter. Wide regional variances continued to be the dominant characteristic% E" o2 Z% W! K3 A; I( z3 M. L7 g
in the market, exemplified by frenzied levels of activity and double digit2 t# ~9 O. E/ y" J- v
price gains observed in the energy and commodity rich Western provinces, and
8 ^; V1 Z! `: [; ]) i# L1 z: rmore reasonable sales volumes and moderate price appreciation in Ontario,
1 r% `1 [# ~2 g8 P5 ?% cQuebec and Atlantic Canada, according to a report released today by Royal3 [9 y0 W/ t7 P8 T) L
LePage Real Estate Services.
! [0 i  |# q9 K% T" y& h) o1 C6 f$ z
; y. E* D! y0 Q9 p" \    Nationally, market trends established through the first three quarters
+ |( U. K3 q: U1 J* gare forecast to continue for the remainder of the year. Robust economic
$ s$ {4 g4 i4 x0 F# v2 d( Tconditions, low unemployment rates, modestly growing salaries and wages, and7 m1 i; u/ e$ U
sound consumer confidence contributed to the overall strength of the
" p: [5 D( I1 ~3 Z( w2 Yresidential real estate sector.
8 |" ^: H2 S+ i5 J$ d; J1 w
$ E$ O6 m6 O4 }( T8 l  J+ N    Of the housing types surveyed, the highest average price appreciation
$ t& }( S6 u9 W  C/ }5 C1 _occurred in detached bungalows, which rose to $300,365 (+16.3%)  X, t. ~( h! w( {/ ]5 b9 R
year-over-year, followed by standard condominiums, which rose to $211,562
5 G1 S* R5 Y. L8 O' s& l(+14.2%), and standard two-storey properties, which increased to $365,380
$ }$ ^/ d% M( K% F" J; l6 ~(+13.2%).
1 W3 o5 J! d9 l) y! A/ c; V7 A2 w8 s9 V3 ]
    "Canada's sturdy housing market continued to demonstrate steady growth" h9 n' Z9 u* F# k! \! J
during the third quarter. For all but the west, we have moved on from the
5 q; e% V0 s9 w7 S5 d# efrenzied expansion that characterized the first half of this decade, and are7 R" a, l  B" x, N2 p
poised to show continued growth at a more moderate pace," said Phil Soper,
# W0 o8 I9 ~. J" l& c" K/ mpresident and chief executive officer, Royal LePage Real Estate Services.
" P( Y3 M. V( O, N8 B"Gone is the sellers' market that we have lived with for some years. We/ R. Z! |8 }0 V  T
welcome the more reliable conditions that are characteristic of a healthy
* V" V# l/ E5 a' {8 i' H! A: w) P- w+ ubalanced market."! O; Z4 ?" S8 }/ c+ r7 W, h
# P, r' V; C) d4 H; i
    Despite the double-digit rise in average national house prices,$ k: P7 g: ^- i  g6 B7 y
considerable regional variances were exhibited again this quarter. The shift4 x1 _0 W) A: |: W; ?
to balanced market conditions, which began in late 2005, has continued' z5 H& [% p+ Q5 k
throughout most of the Central and Eastern regions of the country. In the core& E3 F: z( b8 N$ A
energy producing western provinces, the combination of very high in-migration,
( E2 v5 T6 U+ Vmanageable affordability, and a shortage of inventory has driven record  @. d( |  I2 _( C7 T
breaking price appreciations.
$ ^  L  Q( b7 D8 Z8 l) B3 P4 P( L( B1 w: g% B3 W
    Echoing the second quarter and supported by Alberta's rapidly expanding
4 y- ?8 _& u0 r" u& geconomy, Calgary and Edmonton led the charge of Canadian cities with the
/ Y3 S- Z+ i3 Vlargest house price appreciation in all housing types surveyed.9 u7 ~- N8 T  l
" [+ `2 y1 w. E1 |! R! f. }( X# C
    In Ottawa and Toronto, growth remained steady, supported by solid
" w& n6 _" F6 Z! Peconomic fundamentals, an increase in available inventory and strong consumer
/ e5 u1 I! P8 c! v* f3 Q- O4 g( iconfidence. While the pace of price appreciation in Ontario leveled off7 H* Y0 m6 M4 J& u
slightly, the province's real estate market remains poised for modest growth.# l% W+ g& F. E5 o
In Atlantic Canada, new housing and condominium construction offered buyers
- G) ?" c6 O6 B  A' a" \greater selection at more competitive prices, resulting in a slower rate of
9 m( D3 u5 H6 U, Kprice appreciation when compared with 2005.' j/ i5 r2 v1 R; @

, P4 `) N* W$ \* h2 _. A    While the pace of growth in Canada has slowed, the domestic housing% |% o" K6 x/ e/ S
market is expected to outperform the American market. The economic and
8 @4 R* Z* n  F3 \financial fundamentals driving the residential real estate sector in Canada
, i; x$ J. a, n# }4 Zare markedly different than those found in the United States.& M3 _7 I) Z7 }# y: ]
/ b. Y' ^0 O! J/ ]
    Added Soper: "Canada's housing market is likely to outperform the
3 b0 T. c, c1 D  LAmerican market through 2007. A number of factors are working in Canada's: W* D% \4 R& I& G& G' h3 t
favour, including healthy personal and governmental debt levels, the* v, W# J+ v8 E2 A9 A( I! |
relatively modest rise in interest rates in our country, and general( ?2 G3 t2 e" {/ A( W( P
affordability in our major cities. In addition, Americans are now seeing the
2 z2 O# y, l( ]5 d3 R( Zdownside of a tax system that encourages maximum homeowner leverage, and3 d4 A( ^4 E0 \! W4 o
aggressive financial products such as zero- and negative-amortization# D- Q6 p; s- s% L+ R
mortgages that work only in a high price growth environment."
9 o, |3 J( B  J9 o0 p
' P, \6 m  F4 u4 G; z9 h    <<9 k7 s# j4 A! n
                             REGIONAL SUMMARIES. U" a2 g2 h( [3 w5 S3 Z1 s9 B
    >>
2 {$ l" N  Z; ?7 S* ]. ?0 x) s) E" K2 D! @' O6 ?7 V; P3 x' |
    Balanced conditions continued to characterize the housing market in' E5 y$ {; L  w8 W# K5 _
Halifax, as significantly higher inventory levels helped to moderate the rate
% p* s7 D/ x( |, v: Z: P$ Sof price appreciation. Buyers were increasingly choosy, taking more time- i0 _& d  s8 B$ C
looking for newer, low-maintenance properties that were not in need of
  k, u* _' H: v% I5 L7 z! b, Lrenovations.' w9 n! g, o- H
' E3 q' Q- L& c2 I+ z1 O
    The housing market in Moncton remained healthy and strong as a slight
3 |; G, X- U6 S' i' J- zincrease in inventory helped to moderate the rate of price appreciation
* s9 z9 X( [6 F+ s  I: v8 Mcompared to the same period in 2005. Activity was brisk throughout August and2 _( }3 S- b, t2 R$ D/ K8 A
September and is expected to remain this way through the fourth quarter.% p- g% F; ~/ r( `2 ~' R4 b9 w! F
& ~8 {2 }3 S  ]9 E& ^
    The housing market in Saint John underwent its traditional summer
) m8 J0 t! ]* l5 l. Bslowdown in the third quarter, with activity picking up towards the end of the$ U% A' S6 d* a3 ^( k$ |% E
quarter. The local economy continued to thrive, as construction on a new' T6 V9 d. C+ q, {) Z, |3 A9 w3 X7 E  d- D
600,000 square-foot shopping area has begun, bringing several new box stores) C7 P' ?2 K7 ~% z4 T
to the area. Buyers have begun seeking less expensive fixtures for their homes
9 D4 ]! ]5 M: Y4 V8 m2 y- aand are instead opting for more affordable housing options.
# J" k  L2 S3 S. T6 j9 {4 ~! M; D) ~9 h' \% b" n- T
    In Charlottetown, the housing market started to move towards balanced
- w8 B2 V/ F3 W9 `6 a% C5 h5 Pconditions, as some sellers had to begin to lower the asking prices on their* U, k/ t/ M2 N3 g2 k
homes to make them more competitive. Activity from out-of-town and US buyers
' P+ U: ~1 Y4 y- _& [0 Y; N& y& Ywas down slightly compared to 2005, likely attributable to the strong Canadian
! [2 O6 J: M5 _dollar. Inventory levels began to creep up in the third quarter, providing- i. y% W& a6 T( B
buyers with more options when looking for a home.
. Z" G* I8 V  H; r9 R  ?, _+ Q
: y( f, A$ o2 h8 k& p    Activity in St. John's slowed slightly in the third quarter, particularly
/ `0 u& N8 ]2 [7 }among higher-priced properties, where there was a slight over-supply of homes
' M; s  r9 k4 @) B& Cpriced over $200,000. Listing periods have increased when compared with 2005,
9 S- }3 N, K0 z& }" x% R, ias some of the pent-up demand that had characterized the market over the last
& h6 l3 o( {0 `# |few years has been satisfied, resulting in more normal, balanced conditions.
$ Z% w0 i9 ~6 n, l4 c3 [
" V$ f% U7 j; T7 v7 L8 u    Montreal's housing market recorded modest increases in average house: V. H. W2 ?2 j* K! S
prices, due to a slight seasonal slowdown in the third quarter as inventory
; I$ z* n) i3 I2 M8 W4 _6 P$ Glevels rose. Part of this can be attributed to the fact that many renting
( d( w( t( ^0 ^; r' Ifirst-time buyers were motivated to close on the purchase of a home by July 1,! N2 t, d, r0 Z- x) N; x
when rental leases expire in Quebec. Once this date has passed some of the% _! d* r5 Y! {! ?: ^2 Z5 Y
pressure is taken off the market, allowing buyers to visit more homes before
3 c9 @% M4 o- h5 f) e3 |* ^& xmaking a purchase.
9 @0 l# z% W4 a% b/ P8 F; o+ f* v2 Z) Q# H2 ?; y
    Ottawa held its position as one of the country's most stable housing1 W0 |# _! p( B1 k* D- V
markets in the third quarter, reinforced by a vibrant local economy and strong
3 Q# Q5 K" N7 |1 Kconfidence, resulting in modest increases in average house prices. The city3 N- q! z$ I1 }- a% o3 j. o
centre remained a bright spot in Ottawa, with homes in this area attracting. p) Q5 h$ v( A  {: H4 I& j: i( [
attention due to their convenient location and proximity to downtown
4 M+ h$ t( s% namenities.
  C' ]) p( p- H
/ _/ U( \$ N  v# o% h' y    The housing market in Toronto sustained healthy activity levels: ?9 a6 \1 [: u9 W- C% S6 ^
throughout the third quarter, as a strong economy helped to maintain demand
$ d/ i. o2 z& x4 w3 c1 Hacross the city, causing average house prices to rise moderately. Toronto has
; ?/ ^: ?- I# n5 S" pcontinued to experience modest growth in average house prices, and has been
, G, Y+ M& J3 H1 A4 Zdriven primarily by purchasers who are buying homes as their principle
" h) e) a" k0 e! |1 J- r/ P& Fresidence, rather than for investment./ W/ r8 a. S8 W% v& t7 Q) k5 ^9 k
5 t5 R; W+ v$ P  J3 n9 j3 Y+ N( g4 ~
    The vibrant Winnipeg housing market continued to show its strength as& q: a( W; x! r  |) B5 o
house prices rose during the third quarter. The booming local economy resulted4 b4 |# U' J4 l3 o
in a historically low unemployment rate, helping to bolster consumer! d6 B0 C. H" G
confidence and Winnipeg's ranking as the city with the lowest capitalization; r/ r, D. O* v, _: P/ H
rate among the country's larger cities - helped to encourage buyers to enter+ V; m& j( n3 E% p
the market.  S; R; G' X$ N
$ c- ]8 ~5 y: t. K9 }7 ^8 ?
    In Regina, the market experienced a slight seasonal slowdown through
* V. a8 ]1 u- a9 y7 Z* W  x7 ZJuly, as there were fewer purchasers in the market due to summer vacations. In! q% c0 B6 ?- V. ]" n- ]0 `
August, activity resumed to the busy pace previously seen in the spring
+ [- C* U; b" C! s6 J$ V! vmonths, as the influx of purchasers made it more difficult to find a home due
5 O7 R: [( N& K- ~7 \0 B) {, _to the shortage of available inventory.
- {) K( p. n2 r  }. D3 Z* y1 Y
    Activity in Saskatoon remained brisk as the market maintained its
+ n. |; W" s: G4 `6 B0 z; Cmomentum from the busy spring sales period. The economy in Saskatoon remains$ J! ^5 M; B4 t- j" a* Y
vibrant, as employment opportunities are abundant with many businesses
& Q: S) o3 o9 Z& Z, w7 Kstruggling to make hires and having to recruit outside the province.: B# v! w+ j+ s/ D% W8 c/ {

3 a9 }( t1 {1 z+ v    Calgary's housing market recorded blazing average house price increases+ b2 z- |8 w6 _6 D; h. i. P* p' A% l
in the third quarter, in all surveyed categories. The burgeoning economy, low! K- q4 r% ~9 z
unemployment rates and low inventory levels remained the leading factors that7 m8 I; r, c5 `2 [6 i8 c; S( }
pressured Calgary's house prices upwards. However, regardless of the soaring4 ]7 z! w& q: h7 s
prices that characterized the market - even during the typically slower summer2 V5 V! t0 W* a4 m8 J! _
season - it is expected that activity will become slightly more balanced, as
# G' F% I0 j3 ], a0 kbuyers are becoming more reluctant to participate in the frenetic activity.
1 o( v0 u" Y. g- \% o- @

; |; J6 D7 a$ v  ^    Edmonton's booming local economy continued to thrive in the third quarter
. Y1 T6 _% ]$ s: h2 ?+ E* ^7 has activity in the oil sands north of the city continued to flourish. Edmonton
7 r$ M6 u) }' a: Uremained the hub of activity for those coming to work in the oil industry,; p$ z, d: Z" B1 p  J
maintaining tight inventory levels across the city, resulting in prices
, Y7 f/ i! Z7 q. Pincreasing at record levels. However, as inventory levels continued to improve6 h8 h7 j* A! }' g/ Q$ L
in the third quarter the rate of price appreciation should moderate slightly
; a& c1 y! U; o" K( F! Wtowards the end of 2006.
    & Q' z+ H' y, X9 f5 V% {: R3 ?" ~: V

* ?; S* k! D8 z% \0 KWhile Vancouver has seen a slight reprieve from the severe shortage of
" H& s, r, M% t5 I0 m' `inventory that had previously characterized the market, supply is still unable: z4 o; [- s. f5 m) I" z# ], s
to meet demand, driving house prices upwards. Vancouver has a very diverse
  f+ a* l7 S4 b8 h' k; N9 igroup of active buyers - from first-time home buyers to baby-boomers to+ {8 ?1 G5 @9 f9 E8 ~9 O) e% F0 V, }
foreign investors - all of whom fuel the demand for houses, placing added7 x; q5 a0 J+ m9 x3 s, A
pressure on tight inventory levels.) Y, W# T7 N5 t/ j; y
2 S+ ~' R6 E# ?6 v" q
    Victoria's market is vibrant and supported by strong economic
% F! n: t" K1 vfundamentals, fuelled by a booming tech sector and a migration of young people
. K! v* P8 w& K0 m% M$ Tinto the city that has continued to support the area's house price increases;
4 Q- X9 y; }0 E: \  S5 k4 L' L4 C5 zwhile increased inventory levels have afforded buyers more time when searching
  q4 Y, Z: J. K9 I: ^, [- ^3 o' u$ ?6 Bfor a home, helping to normalize the market's pace.7 w" U' x3 S: C9 d% F

2 g8 C+ b' b+ _& t* T    <<- d; ?: U2 U, c, ]$ M
      Survey of Canadian Average House Prices in the Third Quarter 2006+ V% y0 m' W& y; B0 ]( U
1 J8 u% ^; x2 `$ h
    -------------------------------------------------------------------------" j# K+ q! i1 L/ |
                 Detached Bungalows                Standard Two Storey
" p8 K# U8 P7 z' `! P8 `: Q    -------------------------------------------------------------------------
/ y# J2 F/ V* t( Z                     2006 Q3     2005 Q3    Bungalow     2006 Q3     2005 Q34 C6 g- W9 [1 J5 N" a
    Market           Average     Average    % Change     Average     Average* Y5 Z' v. t  ^4 N4 k( k. J8 s
    -------------------------------------------------------------------------
8 @$ a+ s: f% d( I  M2 S    Halifax          186,333     173,333        7.5%     198,667     199,000
& M% N3 `7 W3 k4 G/ W    -------------------------------------------------------------------------
; z3 X; R1 y4 l, ]4 ~) S/ N4 Z    Charlottetown    145,000     141,000        2.8%     175,000     170,000  e% H( G. f/ ~* l- @) n5 S
    -------------------------------------------------------------------------
, `9 c* T4 S% y9 v    Moncton          135,000     127,000        6.3%     129,000     123,000' N  V$ y' r. }. w1 v
    -------------------------------------------------------------------------
+ u. v1 H! l- M    Saint John       141,200     142,900       -1.2%           -           -9 j+ d* A" w7 d
    -------------------------------------------------------------------------
  b7 O2 }  @( \$ }7 w    St. John's       143,667     142,667        0.7%     200,667     202,333" l9 a, }8 h9 K7 u$ X0 j! |
    -------------------------------------------------------------------------
0 a3 W- Y6 j9 n" s5 H/ l6 B    Atlantic         150,240     145,380        3.3%     175,833     173,5831 b. W# V; }5 a* n% a; F- a
    -------------------------------------------------------------------------9 b& [( k4 t  ]8 [
    Montreal         213,691     203,500        5.0%     321,141     316,185
$ V9 I/ m  T/ p; M, {% X! \    -------------------------------------------------------------------------
3 d& W6 o3 R& B8 t# [! ~# `    Ottawa           290,083     278,417        4.2%     285,667     273,250
/ [2 y& W3 A  B# M6 |- R    -------------------------------------------------------------------------- V) V% }+ a3 s' g5 w  J
    Toronto          373,368     355,882        4.9%     481,523     474,766
$ N) z0 Y3 @' \    -------------------------------------------------------------------------: E3 u1 X& f( J  B- q
    Winnipeg         181,579     159,860       13.6%     202,337     180,707
* H+ K' d  m0 ~    -------------------------------------------------------------------------" @: D$ `6 E$ }1 j" a) j
    Saskatchewan     170,667     156,083        9.3%     182,600     166,500
! F( n; r" H' m% Q/ q. [+ @' @    -------------------------------------------------------------------------
1 h1 I. m% X' L9 s2 b% U/ f! y    Calgary          395,067     252,411       56.5%     405,778     264,389
2 s+ t" t9 w1 j, `# d    -------------------------------------------------------------------------
0 E  U+ M1 F) J. ~$ c    Edmonton         286,857     194,857       47.2%     316,429     206,714
* E6 v: |2 O3 c. Q1 ~& X2 X    -------------------------------------------------------------------------
+ K6 c2 Z1 ]! X' i) Y5 i9 F) Y    Vancouver        704,250     601,000       17.2%     794,000     697,5001 m6 k* f( s/ j; R
    -------------------------------------------------------------------------" r0 |3 Q% a- j% {# v
    Victoria         375,000     348,000        7.8%     403,000     391,0007 w1 {4 n# C! S: U
    -------------------------------------------------------------------------1 `9 S' l6 v6 l# t
    National         300,365     258,202       16.3%     365,380     322,860) ?/ ?9 F" r0 B. e
    -------------------------------------------------------------------------
" c$ l. f' ?. |( y+ R3 _/ ?0 u0 O- l( b. T; ?% o: s
    -------------------------------------------------------------
  d! d  e0 n' n4 l7 a                               Standard Condominium
6 q2 d5 X( }! ?3 w, W" Z    -------------------------------------------------------------
% M& _, V( u; r7 D  ^4 P! @9 A                    2-Storey     2006 Q3     2005 Q3       Condo* w" U% [8 |% Z- R3 [& k
    Market          % Change     Average     Average    % Change5 K. x! J9 z: d7 |: X) q
    -------------------------------------------------------------
; e; @$ ?: j' n; `; ]# ?# V$ w    Halifax            -0.2%     142,000     103,000       37.9%7 v( r% e: r4 y; _) X
    -------------------------------------------------------------, W3 g3 g: e0 V+ ~# K: m
    Charlottetown       2.9%      98,000      98,000        0.0%# R6 w5 K, _- l2 s
    -------------------------------------------------------------
) y1 e/ l/ i( j* h: s! M: _    Moncton             4.9%           -           -         N/A
( z- v7 R* S) ~% b    -------------------------------------------------------------
- a5 m4 k4 |5 l" `    Saint John           N/A           -           -         N/A6 u7 W3 e9 s5 Q* R3 H
    -------------------------------------------------------------3 g8 |  r! f2 }9 h4 z: D
    St. John's         -0.8%     146,333     145,667        0.5%
& s. l% c" I; g    -------------------------------------------------------------9 z! U+ I1 ~9 a8 W/ H
    Atlantic            1.3%     128,778     115,556       11.4%
% ~4 x1 y! a" t- W6 L' ?4 [+ K( h    -------------------------------------------------------------8 h. e; y" d) a9 T2 K3 w
    Montreal            1.6%     193,190     188,016        2.8%
: Q5 z; \8 z9 l8 Z6 d2 X* o# P    -------------------------------------------------------------
) u8 z! A7 g* T! B, u* i    Ottawa              4.5%     181,083     172,250        5.1%: k: i/ W+ b5 S# `& n$ `7 L
    -------------------------------------------------------------
4 d6 L8 s  S! Z$ e: k* Y4 a  D    Toronto             1.4%     252,088     242,918        3.8%& \% B; w) k, w" B  y$ ^& C
    -------------------------------------------------------------
* o8 l- ^2 j2 @9 d: {2 [    Winnipeg           12.0%     105,648      96,008       10.0%
1 U8 C% a; o: B, q  w4 C    -------------------------------------------------------------8 x0 J* r& {6 g1 _
    Saskatchewan        9.7%     106,250     101,000        5.2%
$ g3 w2 \' K! s% @9 C    -------------------------------------------------------------
/ P, k/ u. I4 V8 g( w  F    Calgary            53.5%     245,844     153,867       59.8%7 t$ n% s: Q- V: |
    -------------------------------------------------------------2 w6 u' {. u( t* Y" `" V7 `, ?3 T% S3 ^
    Edmonton           53.1%     200,433     131,500       52.4%- o/ d' v$ G+ g' r+ Y
    -------------------------------------------------------------  m4 v5 \$ j. U! Z
    Vancouver          13.8%     366,250     323,250       13.3%7 B1 g4 t  u  D
    -------------------------------------------------------------% ^$ ]; n& p' Q7 d1 j
    Victoria            3.1%     229,000     220,000        4.1%
5 A7 O, x4 {$ h8 A    -------------------------------------------------------------& d3 m" i, Q" _9 z+ b! e
    National           13.2%     211,562     185,296       14.2%  k6 v& j3 u7 n: Y. M
    -------------------------------------------------------------* o+ k* \- p- V6 v
    >>
1 D  b8 K4 B! _+ s8 p3 _+ b( p& C4 [# `& X/ n* h+ `
    Average house prices are based on an average of all sub-markets examined
* O% Z$ }+ s0 ]8 D- n; g7 Uin the area, except for the smaller markets of Charlottetown, Moncton, Saint9 r7 N1 E, z4 M/ ^
John and Victoria.1 w1 D. D8 q! A% {  y

  o; K, D& T" p    The Royal LePage Survey of Canadian House Prices is the largest, most# D+ B$ U$ {" j. T( j) l
comprehensive study of its kind in Canada, with information on seven types of
' K( [: ~+ e  ^4 J  ^! q( e& xhousing in over 250 neighbourhoods from coast to coast. This release
8 @- _. g1 D$ b/ u" l" Xreferences an abbreviated version of the survey, which highlights house price
. C3 R) U' D# htrends for the three most common types of housing in Canada in 80 communities
8 K" J, e# [4 Sacross the country. A complete database of past and present surveys is
, e; g" w; E1 ~$ x9 b7 Iavailable on the Royal LePage Web site at www.royallepage.ca, and current* H: \' _8 f5 W% |- j4 N  r# [
figures will be updated following the end of the third quarter. A printable2 y# @9 U; Y( N$ C# c/ c0 ^2 k
version of the third quarter 2006 survey will be available online on8 j/ O7 p' c2 t+ u4 w
November 15, 2006.$ l' Z  G8 J7 q- r" ?( A
    Housing values in the Royal LePage Survey are Royal LePage opinions of
0 d1 W/ k+ J( h# h' ~9 }fair market value in each location, based on local data and market knowledge
) m: h4 D) a1 v: h. Q/ \7 cprovided by Royal LePage residential real estate experts. Historical data is
' Q- V; J1 F  Y  S8 _available for some areas back to the early 1970s.
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