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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 $ B  G& S) V* F+ m( z

2 d+ A# _! T* F/ H0 w- Country's market poised to show growth throughout 2006 -" `0 `# {  Y( c& K

1 M) B2 j: m2 [/ S' O2 _. n    TORONTO, Sept. 28 /CNW/ - For most of Canada, the housing market
) s- ?3 k! c7 v8 I7 \- A9 ]exhibited moderate price increases and stable unit sales during the third
- w; z  {' J  }4 ^' fquarter. Wide regional variances continued to be the dominant characteristic
2 v9 f* D3 F& E5 C! g  n/ ]/ kin the market, exemplified by frenzied levels of activity and double digit( E8 M+ u8 G+ U! l+ n! S/ U( i
price gains observed in the energy and commodity rich Western provinces, and7 @5 w, H# ]$ w" p+ w6 L
more reasonable sales volumes and moderate price appreciation in Ontario,
8 ~5 S1 a# l- u3 z1 i* t7 dQuebec and Atlantic Canada, according to a report released today by Royal
* I* o' F2 z4 v7 YLePage Real Estate Services.
) O. h# g/ @$ T1 f6 K- _1 V2 R: |- V
    Nationally, market trends established through the first three quarters9 F9 U8 P9 P2 r5 ~5 ]2 H
are forecast to continue for the remainder of the year. Robust economic
( f$ h. N, l1 e5 R* x0 v. _1 Oconditions, low unemployment rates, modestly growing salaries and wages, and! F. q2 v9 Z4 E. R4 S6 X  E
sound consumer confidence contributed to the overall strength of the
& ?  g+ g# ?- ^: Z* t/ |$ @  Sresidential real estate sector.& ]% D; P+ \8 y! i! Y3 H
4 v" e, @7 S' W6 {' P
    Of the housing types surveyed, the highest average price appreciation
3 t& z: q3 j, w- Uoccurred in detached bungalows, which rose to $300,365 (+16.3%)7 S: W' S, C/ }* M6 ^9 E! L
year-over-year, followed by standard condominiums, which rose to $211,5623 g* E! e* k# H
(+14.2%), and standard two-storey properties, which increased to $365,380
, I$ _) w' y+ F# i3 s# [(+13.2%).
3 X! q2 f1 [; V/ o. o9 X+ q9 c6 B1 [5 F( A% C* m0 R1 p' `
    "Canada's sturdy housing market continued to demonstrate steady growth" x& V- t' r2 r# v% ?; P# D2 u" R
during the third quarter. For all but the west, we have moved on from the
5 P3 B$ r1 K0 d5 ]  q% N5 [frenzied expansion that characterized the first half of this decade, and are
$ i. W  @% {* K0 I" spoised to show continued growth at a more moderate pace," said Phil Soper,
0 V4 A7 B% j7 Z1 o5 ^' Gpresident and chief executive officer, Royal LePage Real Estate Services.
+ @8 |3 f& l! b"Gone is the sellers' market that we have lived with for some years. We
- O$ T" F' T2 j% y  _+ pwelcome the more reliable conditions that are characteristic of a healthy
% g' K# e2 c. fbalanced market."0 {# Q) V8 r+ b; X7 d

- K, L( U% V! \( V    Despite the double-digit rise in average national house prices,
5 v8 X; p" I- d6 }: A0 V% |considerable regional variances were exhibited again this quarter. The shift0 n- ?8 x3 G* q3 A9 F; v' h6 ]
to balanced market conditions, which began in late 2005, has continued8 _0 C3 w3 h* |+ X( c
throughout most of the Central and Eastern regions of the country. In the core
1 z. m  r. r! S0 O0 q% l) Penergy producing western provinces, the combination of very high in-migration,' x3 l- {* Y9 V
manageable affordability, and a shortage of inventory has driven record# R9 W' ]5 e2 \
breaking price appreciations.
5 E, x0 s- c& f# h6 u; I! w% C; D
    Echoing the second quarter and supported by Alberta's rapidly expanding* p% S3 o# E, y2 E/ H! q. f$ B
economy, Calgary and Edmonton led the charge of Canadian cities with the: x% u6 u- Y7 e) ]# [
largest house price appreciation in all housing types surveyed.# g% u, Y  x( t$ m

, ^" r8 \; s5 n& d' T' T0 z) Z    In Ottawa and Toronto, growth remained steady, supported by solid
# G) }5 ~* d# k' K, ?+ `economic fundamentals, an increase in available inventory and strong consumer
; g, l1 o7 l( Oconfidence. While the pace of price appreciation in Ontario leveled off3 o: T. T% ?# A* P
slightly, the province's real estate market remains poised for modest growth.
! o5 N) q" q( X$ BIn Atlantic Canada, new housing and condominium construction offered buyers
: V$ E5 z0 D9 J% E& Vgreater selection at more competitive prices, resulting in a slower rate of
; c* N+ ?8 D$ ?, T7 Iprice appreciation when compared with 2005.
: ], A* b* r( y% I+ R# b1 c9 {& P' c% G. X$ m2 E
    While the pace of growth in Canada has slowed, the domestic housing
) O" W# {, R6 m/ tmarket is expected to outperform the American market. The economic and
; V& o; _7 E" Y. hfinancial fundamentals driving the residential real estate sector in Canada
( k2 s( }& }: q2 R" Zare markedly different than those found in the United States.$ o. c" V6 j# K5 k# v- ?( b# y$ p0 ]
* x& w. c1 W  P/ i, ~
    Added Soper: "Canada's housing market is likely to outperform the
( U  u; p+ g7 y+ y, |; Z! ~American market through 2007. A number of factors are working in Canada's
. x+ }1 P3 R0 k' l) Tfavour, including healthy personal and governmental debt levels, the2 l9 H: a  u6 E& s' z
relatively modest rise in interest rates in our country, and general
1 J6 G. d1 Q  C: S$ }' i) taffordability in our major cities. In addition, Americans are now seeing the
1 H# z" ]$ N5 b$ kdownside of a tax system that encourages maximum homeowner leverage, and
1 h5 r2 U4 r- T; J- ^  Waggressive financial products such as zero- and negative-amortization6 `6 L) k0 f- V7 k) t" x, s7 {* W
mortgages that work only in a high price growth environment."; k5 V2 E; S) _  q: {4 t: L! j# `2 f
/ c$ z; Y& |0 m8 X$ A* D
    <<
; ?: R2 R* \7 x' d+ H9 N                             REGIONAL SUMMARIES
, W9 @8 D! i0 y: t* d* R' Q    >>
- f7 U- F# L0 C9 W
4 q3 T4 E6 s# z) F7 F' q% X    Balanced conditions continued to characterize the housing market in7 e! T; u' f6 m8 Z3 Q: S' E" _& \2 p$ v
Halifax, as significantly higher inventory levels helped to moderate the rate2 e- y: u* G1 e# g: t# @: D, n
of price appreciation. Buyers were increasingly choosy, taking more time3 E8 J8 f( A# L+ V" l
looking for newer, low-maintenance properties that were not in need of, ?: U) S: ?5 K2 E% l  e  u
renovations.1 v8 d* ~% ]+ h! c7 @  f

3 T; o0 S/ K5 [, ?( ]9 K    The housing market in Moncton remained healthy and strong as a slight
& g  z* `3 a) Q; `; j% [+ H6 n9 a) qincrease in inventory helped to moderate the rate of price appreciation* ?+ |- X# e* @* m2 \; j
compared to the same period in 2005. Activity was brisk throughout August and
+ Y4 e( e. I$ u: CSeptember and is expected to remain this way through the fourth quarter.
( m0 t5 M4 X( n8 _) b6 u  C- k6 j* J9 ^4 w5 {" _
    The housing market in Saint John underwent its traditional summer
% i, ^# p) B, ~  d% Qslowdown in the third quarter, with activity picking up towards the end of the6 q0 S1 M0 R+ ~, R3 x& O* |
quarter. The local economy continued to thrive, as construction on a new- C* I- n( V9 W' P/ }( e
600,000 square-foot shopping area has begun, bringing several new box stores
9 r; R8 C  }; F8 tto the area. Buyers have begun seeking less expensive fixtures for their homes
0 \) y6 h$ W0 ~5 A. jand are instead opting for more affordable housing options.
7 B* b( {; \0 ?* S# m
  X5 p( n% {" h" `9 k. \    In Charlottetown, the housing market started to move towards balanced
$ [% a$ P( |/ n9 U1 s- ]4 Qconditions, as some sellers had to begin to lower the asking prices on their: i. q+ k5 c1 c5 p- V) {( z. I
homes to make them more competitive. Activity from out-of-town and US buyers# M+ b+ q- S: r( `5 y* k% L! y
was down slightly compared to 2005, likely attributable to the strong Canadian+ X. H  D3 J+ C9 z: V
dollar. Inventory levels began to creep up in the third quarter, providing, N4 W" D4 x& P; o  G9 h/ m
buyers with more options when looking for a home./ F; j" U  E, R6 U
  r; b% o+ |: H! R5 n8 r; l
    Activity in St. John's slowed slightly in the third quarter, particularly
9 \7 b- J! K. iamong higher-priced properties, where there was a slight over-supply of homes% @' ^' S. B* q+ S8 c$ b
priced over $200,000. Listing periods have increased when compared with 2005,
0 ]& T7 [2 J9 Bas some of the pent-up demand that had characterized the market over the last7 `# }4 ~2 g5 w& m; f
few years has been satisfied, resulting in more normal, balanced conditions.4 W: V* P/ u5 p; W( x  U4 O
! ~! D4 O& x/ Z" z6 s/ o. E: y& I  u
    Montreal's housing market recorded modest increases in average house& i# U( T) a9 W0 A. B
prices, due to a slight seasonal slowdown in the third quarter as inventory
  F% P9 K7 v+ A( r. ylevels rose. Part of this can be attributed to the fact that many renting
& J; ~7 n6 H) V; y& t. C9 ^first-time buyers were motivated to close on the purchase of a home by July 1,
; |0 I4 k8 }) S+ y3 V# [7 C2 kwhen rental leases expire in Quebec. Once this date has passed some of the
7 H5 |7 |' g& d! {2 \% Lpressure is taken off the market, allowing buyers to visit more homes before
- L& D8 E$ o! J; @8 Zmaking a purchase.( n9 L" u- E' b/ w/ O( ?

- {; `) n- G& }4 U  }9 T$ J+ d    Ottawa held its position as one of the country's most stable housing
. J  _+ H* f* J1 X' hmarkets in the third quarter, reinforced by a vibrant local economy and strong
$ t3 K" t9 ^% ^- t3 Nconfidence, resulting in modest increases in average house prices. The city
, S1 R4 V" |, L3 \5 E0 tcentre remained a bright spot in Ottawa, with homes in this area attracting6 k8 o3 p6 \- d9 D$ d* p  k5 l
attention due to their convenient location and proximity to downtown- v6 T3 g4 `# ?2 R
amenities.
" U, S+ b8 r: Q
1 V4 _6 R  p) B& F    The housing market in Toronto sustained healthy activity levels8 i2 Z) E( X  M$ }+ U& k' W
throughout the third quarter, as a strong economy helped to maintain demand: u+ P" {2 U6 @: L/ G1 N
across the city, causing average house prices to rise moderately. Toronto has8 j: X+ k# B/ h- ~; v9 U+ E) n/ J
continued to experience modest growth in average house prices, and has been
( h8 W2 @: W9 @" u" j% hdriven primarily by purchasers who are buying homes as their principle3 q- I3 s' ]6 N1 h' H
residence, rather than for investment.8 g' Q2 O5 A6 w

' j+ F& o* A6 ?5 B7 ^" G4 l    The vibrant Winnipeg housing market continued to show its strength as0 S! B/ |" B) j& b+ T3 C6 _" d0 I+ v
house prices rose during the third quarter. The booming local economy resulted. T, R% \8 O9 x; J* b
in a historically low unemployment rate, helping to bolster consumer
) t0 u. e' e' dconfidence and Winnipeg's ranking as the city with the lowest capitalization$ z7 e) y3 @5 p1 `' _) A5 w, U
rate among the country's larger cities - helped to encourage buyers to enter4 `$ i3 k0 u1 w# v8 x
the market.1 i% |- F- D& |9 [' z
+ e5 d) u; Z- Q9 \- T3 }3 o, }1 Q7 B2 G, i
    In Regina, the market experienced a slight seasonal slowdown through
: [7 r5 K9 A8 E9 `2 G& yJuly, as there were fewer purchasers in the market due to summer vacations. In1 b/ x0 e3 u5 Q5 R. K( s) j/ J* n
August, activity resumed to the busy pace previously seen in the spring& ^& C) Z% C. a" a6 |3 p
months, as the influx of purchasers made it more difficult to find a home due
. p) E; f4 u, T9 H* n) `to the shortage of available inventory.
2 j; n  H+ R5 p0 e9 |1 S. d  c, X3 W3 O* L' A" [
    Activity in Saskatoon remained brisk as the market maintained its0 a1 V1 V, K$ g3 g: J. B" G  b' z
momentum from the busy spring sales period. The economy in Saskatoon remains% y1 I/ Q6 J4 i% i& |4 \. P' L
vibrant, as employment opportunities are abundant with many businesses
( p! ~! F8 }& I9 @& A$ Z! xstruggling to make hires and having to recruit outside the province.) \$ q4 {/ N! x
/ J9 p% t% J4 q
    Calgary's housing market recorded blazing average house price increases
3 r- \2 Y, P( s) Z* t2 E- c7 jin the third quarter, in all surveyed categories. The burgeoning economy, low; E# A  V5 p4 e) G+ _3 [
unemployment rates and low inventory levels remained the leading factors that  z+ a3 P9 Z8 c: U
pressured Calgary's house prices upwards. However, regardless of the soaring
& d0 Q6 H% }" K, i* xprices that characterized the market - even during the typically slower summer
+ g$ I4 o9 F7 D3 y# [  S7 |season - it is expected that activity will become slightly more balanced, as( B( z7 L0 ~- W: J) L. z: m- K5 N
buyers are becoming more reluctant to participate in the frenetic activity.

$ _7 E& ?  h4 R- z& W
+ s6 D, ?. V% B1 a    Edmonton's booming local economy continued to thrive in the third quarter0 o  o6 C; u2 d2 M
as activity in the oil sands north of the city continued to flourish. Edmonton  \) I% ~6 y& @0 Q5 Y5 A
remained the hub of activity for those coming to work in the oil industry,
. G4 d; k& ]0 m5 ~' c+ B/ `maintaining tight inventory levels across the city, resulting in prices  `1 Y3 M; f) D1 q5 p3 y' k0 v, p
increasing at record levels. However, as inventory levels continued to improve) y9 j2 H# t# V! y4 }- S3 \- g' u
in the third quarter the rate of price appreciation should moderate slightly: ]! `: d% B  f* K% w2 `4 S
towards the end of 2006.
   
0 V+ a9 L* d4 Z; b# O. N7 A8 p9 M; c) E/ ~* y5 W
While Vancouver has seen a slight reprieve from the severe shortage of. C* _0 C! t0 v
inventory that had previously characterized the market, supply is still unable
1 W( B) M3 {) `1 n2 Q; zto meet demand, driving house prices upwards. Vancouver has a very diverse5 `$ c4 f+ R" [$ [  _  V
group of active buyers - from first-time home buyers to baby-boomers to
4 V7 i& t( g0 o" r1 iforeign investors - all of whom fuel the demand for houses, placing added+ }! z, ^( |3 ?+ l8 G: B
pressure on tight inventory levels.
/ P. I/ O8 p( L' k3 Y: m+ w( q
8 |6 G2 }/ a4 T1 E! p# Z$ k" `    Victoria's market is vibrant and supported by strong economic2 E) ?3 ]# h6 O1 V/ a( {* o8 s
fundamentals, fuelled by a booming tech sector and a migration of young people
" }3 i; Q3 k* B7 [4 @. ]' q9 s- winto the city that has continued to support the area's house price increases;
  G1 ~5 x. D2 q0 qwhile increased inventory levels have afforded buyers more time when searching
( t! A/ l  B% R& Ifor a home, helping to normalize the market's pace.
: T; z: T% l: s% O/ y% U( J- h) ~/ D+ X  i7 @
    <<
) D# R- h  v  f, p      Survey of Canadian Average House Prices in the Third Quarter 2006
8 N2 X$ }. d4 d+ w: N: m
5 u& @: n! w& W% X8 W- y) ]    -------------------------------------------------------------------------* A) s) z4 T& n5 A- \+ T
                 Detached Bungalows                Standard Two Storey
" G* e$ N; m6 `- {    -------------------------------------------------------------------------
" q8 c& Z9 {9 s! O2 A) R) E                     2006 Q3     2005 Q3    Bungalow     2006 Q3     2005 Q3
; ]( p) l2 g2 b1 q& y! T# Z# }    Market           Average     Average    % Change     Average     Average' }! c; `& j8 |8 t. k
    -------------------------------------------------------------------------
; Q. j9 x6 B  @: U0 R# h    Halifax          186,333     173,333        7.5%     198,667     199,0001 U/ _2 v0 }% p1 O) k
    -------------------------------------------------------------------------; [  D# E/ j# k; `! F  L
    Charlottetown    145,000     141,000        2.8%     175,000     170,0002 C$ k  D1 |3 g0 `
    -------------------------------------------------------------------------0 V1 U- h9 V3 x  I
    Moncton          135,000     127,000        6.3%     129,000     123,0004 Y, f, ^- X+ X6 a& p( D
    -------------------------------------------------------------------------
/ R5 g: l+ S4 I6 t/ ]3 }& U6 u    Saint John       141,200     142,900       -1.2%           -           -
' X7 h, i' Y6 Z; s1 x0 q) p    -------------------------------------------------------------------------* h7 C; q/ M( w- [: A( z
    St. John's       143,667     142,667        0.7%     200,667     202,333
6 P$ g% W% A' N+ ?/ ?' v  T  H" m    -------------------------------------------------------------------------
& |% Y/ H  l  h! z: J% O" L    Atlantic         150,240     145,380        3.3%     175,833     173,583) z/ f/ D4 z( v' {. ^* Y
    -------------------------------------------------------------------------  Z1 ^9 E+ `6 Z; q8 ~$ z
    Montreal         213,691     203,500        5.0%     321,141     316,185
2 b3 `* n- B1 L- R    -------------------------------------------------------------------------- {- J9 G& Y* ]
    Ottawa           290,083     278,417        4.2%     285,667     273,2509 J5 h* C' ^4 V) Z( g: X6 R
    -------------------------------------------------------------------------
! c$ U/ B; D3 x4 @: T' U    Toronto          373,368     355,882        4.9%     481,523     474,766
" w% g9 A0 b. |; V) ]  I* |    -------------------------------------------------------------------------
2 a# `! B& E* h9 p    Winnipeg         181,579     159,860       13.6%     202,337     180,707
8 f2 r8 y( z* z3 e" z" [* a0 {    -------------------------------------------------------------------------! ]: [( i. P9 [# ^! }
    Saskatchewan     170,667     156,083        9.3%     182,600     166,500
3 F/ x% x: C) X7 [! k    -------------------------------------------------------------------------
- \! G: d) G' @/ ]    Calgary          395,067     252,411       56.5%     405,778     264,3893 ^' ]: M) z3 ]" m7 J" }- X
    -------------------------------------------------------------------------6 ^/ i( Q3 k' h; f: _
    Edmonton         286,857     194,857       47.2%     316,429     206,714
0 ^4 p2 }- _0 n+ \4 S$ \! ^    -------------------------------------------------------------------------6 x' U8 l, g# k
    Vancouver        704,250     601,000       17.2%     794,000     697,500
, C+ T& J! A3 k. o- x8 Z    -------------------------------------------------------------------------$ S/ k. G3 Z+ M9 Z8 C3 ~
    Victoria         375,000     348,000        7.8%     403,000     391,000
7 G3 w7 f" V4 M# ?: \0 G% o    -------------------------------------------------------------------------
" ~2 W- T; ^5 z# o4 G( M$ f1 h    National         300,365     258,202       16.3%     365,380     322,860
1 R4 I1 S- N  O3 ?4 ?. A6 J: Y* ?    -------------------------------------------------------------------------8 A" H' u& `9 X- h0 o, ]
3 B2 Y3 s: o4 P9 z" d' N
    -------------------------------------------------------------8 e/ w- l# {# F  M+ d* @- r
                               Standard Condominium' J( J% F! s) Q6 C" g' z% X! O  L, m
    -------------------------------------------------------------
& O2 d! H. E) e7 ?; O8 i                    2-Storey     2006 Q3     2005 Q3       Condo
$ U6 f, q7 W$ k$ ]/ `6 M! C    Market          % Change     Average     Average    % Change
7 K& ~( m/ q7 X. Q8 }$ h    -------------------------------------------------------------! _1 Y) S) C: u3 G
    Halifax            -0.2%     142,000     103,000       37.9%" s, f% T' a# b; V- R% I0 f! R
    -------------------------------------------------------------
  N+ \$ o) e8 w. B* i' f    Charlottetown       2.9%      98,000      98,000        0.0%0 [4 J1 G  H+ t3 g9 z+ F! J+ U- B  F
    -------------------------------------------------------------' _3 }- ]6 Y) W4 w
    Moncton             4.9%           -           -         N/A
6 t; q  O) ~+ ?; z0 R# @    -------------------------------------------------------------
5 p  e- [- M, m! e& c( Q    Saint John           N/A           -           -         N/A; X  B$ X9 s. ]2 K9 M
    -------------------------------------------------------------0 C4 z% w. g. Z6 e" z3 q
    St. John's         -0.8%     146,333     145,667        0.5%
: u3 _& b6 a3 x5 }( i5 @    -------------------------------------------------------------9 j; U: o3 _/ x2 Q
    Atlantic            1.3%     128,778     115,556       11.4%
: L7 a* a& N; L8 [9 B7 r    -------------------------------------------------------------# Z; x" u' j) d" w7 p5 S
    Montreal            1.6%     193,190     188,016        2.8%( j6 J9 A& b! K& _8 ^
    -------------------------------------------------------------
- _) P0 m8 ]$ n. ]- D- c$ S    Ottawa              4.5%     181,083     172,250        5.1%
2 {) W2 V  k; p9 x! \    -------------------------------------------------------------5 a; x( O& m- ]9 q  R7 a0 q2 R9 D
    Toronto             1.4%     252,088     242,918        3.8%% e+ f4 \, e0 M% E$ K9 j
    -------------------------------------------------------------& Z1 a7 i9 b+ V
    Winnipeg           12.0%     105,648      96,008       10.0%% `( t' z1 w; O  `4 `$ [
    -------------------------------------------------------------2 z% M$ u* y# M  c, `8 D
    Saskatchewan        9.7%     106,250     101,000        5.2%' `" Q2 i/ b0 S! w* g' N# @7 L
    -------------------------------------------------------------+ }! S* H0 l5 ~. N
    Calgary            53.5%     245,844     153,867       59.8%9 v+ H: x7 _) q6 w
    -------------------------------------------------------------( z, i1 P& S# L5 _
    Edmonton           53.1%     200,433     131,500       52.4%+ _/ t+ ^, U4 ]( ~0 U7 e% m
    -------------------------------------------------------------, A- l+ @/ m! Z* h5 U
    Vancouver          13.8%     366,250     323,250       13.3%3 I- P9 @) A& o) D# U
    -------------------------------------------------------------
  j5 J2 K/ g9 w* F5 o8 o/ f, d1 U    Victoria            3.1%     229,000     220,000        4.1%. Z9 c% y* W& B# h
    -------------------------------------------------------------
3 h1 M7 F: W: P2 `    National           13.2%     211,562     185,296       14.2%/ Z# N' a9 x7 |; |: [3 ^. R0 }0 X6 t
    -------------------------------------------------------------
# q, U. R( j- I  C4 E$ `/ T& O    >>" ]  O/ y: {' d, o1 _8 f' U, h

9 ?, ]: Y( t' }; d    Average house prices are based on an average of all sub-markets examined4 B9 {- D- L$ `1 A2 c
in the area, except for the smaller markets of Charlottetown, Moncton, Saint
5 P: p: j6 ]0 N5 v% c2 `John and Victoria.
$ B6 x1 H7 R8 W5 t. t7 B" E7 ]" L6 e8 H8 t
    The Royal LePage Survey of Canadian House Prices is the largest, most* x+ m; L5 B2 X2 D$ @
comprehensive study of its kind in Canada, with information on seven types of
* H, E" u7 G  h: g4 Dhousing in over 250 neighbourhoods from coast to coast. This release
, A, X4 Z. `; H) T' ~) hreferences an abbreviated version of the survey, which highlights house price3 a" e! j: H( T" |
trends for the three most common types of housing in Canada in 80 communities
4 \0 B, E3 j# M# B% Q' _across the country. A complete database of past and present surveys is
8 g3 L* d& ^% _3 o+ f7 Z: ?available on the Royal LePage Web site at www.royallepage.ca, and current! g! \9 \- @2 a8 r' }
figures will be updated following the end of the third quarter. A printable; C3 g) p3 j; T0 @. h6 I, @: A
version of the third quarter 2006 survey will be available online on5 v  {5 j1 y) M# d. @' ^4 X
November 15, 2006.
1 Z/ b! c- Q+ @. R; {    Housing values in the Royal LePage Survey are Royal LePage opinions of. `0 G; a1 R$ C
fair market value in each location, based on local data and market knowledge/ n4 F; G( g4 i. ~
provided by Royal LePage residential real estate experts. Historical data is1 O, C+ X; p0 t( w. j# B
available for some areas back to the early 1970s.
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