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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
1 c2 g+ n3 ^2 ~
) }1 O" E7 q! o1 U! x3 `- Country's market poised to show growth throughout 2006 -9 u0 Q5 v. O9 S3 b2 ~

# m( z  _- S1 b    TORONTO, Sept. 28 /CNW/ - For most of Canada, the housing market/ {, g' n' K$ m$ A8 T8 i
exhibited moderate price increases and stable unit sales during the third, P6 Y. ~6 {: ?5 x4 K
quarter. Wide regional variances continued to be the dominant characteristic2 B! U. ?# e6 H6 j. u( r. Y
in the market, exemplified by frenzied levels of activity and double digit# w8 x9 ~, \& q' }0 P$ ?0 y
price gains observed in the energy and commodity rich Western provinces, and
' b' V. L" B5 H( ^7 xmore reasonable sales volumes and moderate price appreciation in Ontario,, l; L4 r* U9 r" L
Quebec and Atlantic Canada, according to a report released today by Royal
/ p' p( \) I6 H$ [7 I% ~LePage Real Estate Services.
: _/ D6 W$ k0 n9 q: e+ P
, J1 h" }; f  f3 E    Nationally, market trends established through the first three quarters
! F& v. C% d$ |) ~! c; L, y2 tare forecast to continue for the remainder of the year. Robust economic- g' S% B' ^, H. z7 V
conditions, low unemployment rates, modestly growing salaries and wages, and5 a  g( ^* t8 m0 T
sound consumer confidence contributed to the overall strength of the
- K4 g+ I, ^8 l- N1 Iresidential real estate sector.6 f# I: n3 \" ?4 U1 |! {
4 M0 j% E9 n" k1 }4 G
    Of the housing types surveyed, the highest average price appreciation" Z6 i& b% z% E8 |
occurred in detached bungalows, which rose to $300,365 (+16.3%)5 k0 Z% ]( r- i% F. T) K1 w
year-over-year, followed by standard condominiums, which rose to $211,562
" X% W( r2 ~) p( B* C( [& {( j1 p(+14.2%), and standard two-storey properties, which increased to $365,380  `/ E5 d; ?: {# m1 d% Z
(+13.2%).
$ s' x1 V& ?9 u6 g6 K9 \' k
; E+ x3 O& Y: L  z0 g$ M6 H! v    "Canada's sturdy housing market continued to demonstrate steady growth1 q8 n; _& A& A, F/ D3 g: `3 P# V
during the third quarter. For all but the west, we have moved on from the8 r6 x' T- X$ X3 @7 d
frenzied expansion that characterized the first half of this decade, and are
" ^5 P5 \: Q4 P8 \; A  Xpoised to show continued growth at a more moderate pace," said Phil Soper,
- I& I5 I! {/ _* l! K% Kpresident and chief executive officer, Royal LePage Real Estate Services.
5 j8 r+ [2 T. m- Q: D/ F"Gone is the sellers' market that we have lived with for some years. We
; t( q( M! M" R/ i/ Awelcome the more reliable conditions that are characteristic of a healthy
" ~+ ~+ H  N* }( b. _0 Tbalanced market."
  b( y; ]0 k" s/ K! E' g# B9 K
) N1 J( |2 ?( o6 Y) Q& N    Despite the double-digit rise in average national house prices,
9 _5 n' k; ^4 [* C2 yconsiderable regional variances were exhibited again this quarter. The shift9 e' F/ Z" }3 a% ?3 F" `# x
to balanced market conditions, which began in late 2005, has continued
* q" n( i3 m( o, O) d6 q; ethroughout most of the Central and Eastern regions of the country. In the core% ]2 F! D# c  t# |( S  e
energy producing western provinces, the combination of very high in-migration,
7 V; z/ Y) U  T1 y* X* z% O" b/ ?9 b6 [1 Gmanageable affordability, and a shortage of inventory has driven record
3 `3 Z2 Y; ?  `breaking price appreciations.2 l) H8 O9 m/ O7 O; @

/ a+ N# y8 X+ Q& I0 K% N    Echoing the second quarter and supported by Alberta's rapidly expanding
' ~# C) A) D! C8 Eeconomy, Calgary and Edmonton led the charge of Canadian cities with the* n0 j% |8 \  j. y5 g& P6 O+ I
largest house price appreciation in all housing types surveyed.
3 r1 D" A) k9 [# w
& R' L  X  i8 x( j    In Ottawa and Toronto, growth remained steady, supported by solid
. P. x& r/ |$ t# ~6 }$ yeconomic fundamentals, an increase in available inventory and strong consumer6 J. t0 I5 p! T& j) ]0 u
confidence. While the pace of price appreciation in Ontario leveled off, V  S3 |7 o0 i4 J# r! y3 X
slightly, the province's real estate market remains poised for modest growth.+ N7 Y! [) g- F: p* F+ S( O
In Atlantic Canada, new housing and condominium construction offered buyers
2 A# C& N. h7 s  G' f, [greater selection at more competitive prices, resulting in a slower rate of1 V! [# M8 ?0 x/ [; O) [! O% f+ t  ?
price appreciation when compared with 2005.
6 L  H6 m6 C5 ?+ `
) Z* |' e" r$ e) K9 U; a$ V$ `& U    While the pace of growth in Canada has slowed, the domestic housing4 u: r* U3 s, T
market is expected to outperform the American market. The economic and
9 M5 p) `( P& D2 W0 G1 kfinancial fundamentals driving the residential real estate sector in Canada
$ g$ Q! ?/ y( ^  L8 G/ b% Aare markedly different than those found in the United States.5 E' h; m, J) n6 ]) _: y

2 i0 P4 u, ~" E3 B! d' s' ~. _    Added Soper: "Canada's housing market is likely to outperform the. Q7 l, J1 }- H7 a/ X/ B
American market through 2007. A number of factors are working in Canada's
3 ~2 I+ ^  _/ p" Y9 p5 D0 y6 ]# ufavour, including healthy personal and governmental debt levels, the
, d2 ^, D7 _8 W( T, R- w" l( J( Irelatively modest rise in interest rates in our country, and general
/ {! N/ F2 o$ [* B9 k/ a- g% Vaffordability in our major cities. In addition, Americans are now seeing the7 E7 ^4 a4 o0 X, i; J, Q0 R$ [
downside of a tax system that encourages maximum homeowner leverage, and9 a6 l1 C1 l+ [, g
aggressive financial products such as zero- and negative-amortization7 `5 u1 c+ d) y7 `/ g% d
mortgages that work only in a high price growth environment."
. s1 z* I: f" Y: E+ }; c/ {' H, k' r( |$ }
    <<9 R  |' d7 d6 u, v+ `- h0 A
                             REGIONAL SUMMARIES
: k# Y* {7 D; ?) y; v* b- Z$ e    >>+ @' w/ [) ^9 y5 Z! p+ o( {
  C) R/ A6 B2 T2 z# ]# y: D* k
    Balanced conditions continued to characterize the housing market in; h) |: J( Y5 e4 b
Halifax, as significantly higher inventory levels helped to moderate the rate& \  S- E- H9 N  R6 e& ]$ V) O
of price appreciation. Buyers were increasingly choosy, taking more time' _* ~5 b  m+ [  I1 E" T; G# W0 M& o
looking for newer, low-maintenance properties that were not in need of
( q" \. y5 B5 Y& \( Lrenovations.; _  v1 ^7 V2 z) N& z" Z

2 z; b; P. b7 t/ x" `5 S    The housing market in Moncton remained healthy and strong as a slight
, G" O3 ~& q- X7 B, N( X. Nincrease in inventory helped to moderate the rate of price appreciation
) @' {: K# o& D% s" n( n9 w) jcompared to the same period in 2005. Activity was brisk throughout August and
7 o  O1 t; _) |) H  i! [' PSeptember and is expected to remain this way through the fourth quarter.
2 G" {" }. I9 F( D' }1 s2 I8 r! f2 l% q, O9 Z" Z
    The housing market in Saint John underwent its traditional summer& i7 `( |! _  I
slowdown in the third quarter, with activity picking up towards the end of the/ V' Q; ^! |9 \9 W& e5 O* v
quarter. The local economy continued to thrive, as construction on a new. F+ N0 w* J6 o# X" g
600,000 square-foot shopping area has begun, bringing several new box stores) r+ b" Q4 f4 g# }; T% u. @" |) S) G! w5 P
to the area. Buyers have begun seeking less expensive fixtures for their homes
, D0 P$ Z( Z- a9 o% f4 P. P, q* dand are instead opting for more affordable housing options.
) [) i& a( M: y- f6 H, M' S" w0 m3 L
    In Charlottetown, the housing market started to move towards balanced# E# T2 _0 y0 G' I( R# C2 t
conditions, as some sellers had to begin to lower the asking prices on their
! v5 [( N' s; Bhomes to make them more competitive. Activity from out-of-town and US buyers& ]1 h  b* d8 }! v5 d
was down slightly compared to 2005, likely attributable to the strong Canadian' U" \7 v2 v. L. X/ W" j/ `
dollar. Inventory levels began to creep up in the third quarter, providing5 w; \- S6 V. w/ _, t' X1 j& M
buyers with more options when looking for a home.* ~1 H( Y8 u+ a" c+ }- W# s

0 w1 z' A* p* C* p4 _    Activity in St. John's slowed slightly in the third quarter, particularly$ ?  `- U  J3 l* A5 t
among higher-priced properties, where there was a slight over-supply of homes. c  Z# m* p, Z6 ^4 V
priced over $200,000. Listing periods have increased when compared with 2005,: ?" J& f+ ?6 I% A2 e8 y/ u& }
as some of the pent-up demand that had characterized the market over the last
  u& s9 X5 _1 v0 L1 }2 j, Jfew years has been satisfied, resulting in more normal, balanced conditions.
+ b+ a0 `& A) A- H( l, {- |+ H& [  k1 v* Y2 l9 d! t
    Montreal's housing market recorded modest increases in average house
# E8 H9 b: k- s/ [- P6 w0 @7 \prices, due to a slight seasonal slowdown in the third quarter as inventory
  e. k: |( ^" t. m7 Ilevels rose. Part of this can be attributed to the fact that many renting
! @4 f8 c$ S% C( o+ M) O$ kfirst-time buyers were motivated to close on the purchase of a home by July 1,2 T, W  a5 P/ R- O1 D2 X* u
when rental leases expire in Quebec. Once this date has passed some of the
& v/ @8 c% h% W) i* ]5 Y4 Lpressure is taken off the market, allowing buyers to visit more homes before
* F( L. Q! F* d! b" x. V0 p$ fmaking a purchase.
" z: B% A4 S; _0 ~8 k3 ^/ Q! c% ~* w: a
    Ottawa held its position as one of the country's most stable housing
+ [+ u; S, u; q3 ^) xmarkets in the third quarter, reinforced by a vibrant local economy and strong6 T0 {8 d4 d5 |! X5 l9 ^; I
confidence, resulting in modest increases in average house prices. The city! r1 A/ O& r$ J# o8 i+ {" Q
centre remained a bright spot in Ottawa, with homes in this area attracting
. P9 Y3 K. D. |6 O8 |attention due to their convenient location and proximity to downtown
. ]& b2 P+ c) t3 o% z! @4 Oamenities.
& N# t5 a8 h# g  o
/ h' p7 l/ g4 @( Y1 }7 Q1 ]    The housing market in Toronto sustained healthy activity levels- s' V' L" u2 S$ ]* q  A2 D# }
throughout the third quarter, as a strong economy helped to maintain demand
$ Q% C# m3 d" zacross the city, causing average house prices to rise moderately. Toronto has
. ?$ j  s' M$ kcontinued to experience modest growth in average house prices, and has been5 k" X' T$ \9 \' ~/ ^8 t: @) {- X
driven primarily by purchasers who are buying homes as their principle
7 q  @- I7 e+ aresidence, rather than for investment.
5 \8 `3 f! W7 d" l) [9 `! A( q0 o
$ u9 o: L% x/ t8 F    The vibrant Winnipeg housing market continued to show its strength as$ j! Q6 Z9 z8 Q1 K" _- k6 j
house prices rose during the third quarter. The booming local economy resulted2 F+ H: s$ `% S4 ?; u1 t
in a historically low unemployment rate, helping to bolster consumer
  f/ ?" x, w) M* Y1 w) L8 B5 rconfidence and Winnipeg's ranking as the city with the lowest capitalization
! t1 d. ^& V5 [9 M1 @rate among the country's larger cities - helped to encourage buyers to enter
" X! C5 `" u  X& s4 d  I- Gthe market.
% k/ Z6 F2 P# c9 w7 n% u0 Y  y* h: u1 M+ d( X6 r* A9 Q* F
    In Regina, the market experienced a slight seasonal slowdown through; q! w; }1 y- h# m
July, as there were fewer purchasers in the market due to summer vacations. In: R$ |1 l3 \+ I7 h" Q5 e
August, activity resumed to the busy pace previously seen in the spring
# `' @1 y" C( j* ^/ e5 w' tmonths, as the influx of purchasers made it more difficult to find a home due
1 Q: u* L# y( j% W' H" n$ `0 }to the shortage of available inventory.
, H$ ?6 N# Z6 S3 N* J$ M  d  e, s  c: ?
) Z" ?. L5 J5 y1 V+ x. F+ A2 q  f    Activity in Saskatoon remained brisk as the market maintained its
5 q& p" a# G4 [, ymomentum from the busy spring sales period. The economy in Saskatoon remains
/ H9 w& G0 g( o2 W8 m7 j0 t9 Dvibrant, as employment opportunities are abundant with many businesses- A' E1 h! `4 j0 H6 ^( K0 m
struggling to make hires and having to recruit outside the province.- Q$ N& S" w4 r9 D2 y
5 u, E, @. D4 H( M8 e
    Calgary's housing market recorded blazing average house price increases
8 g; d# Y3 C* V6 ^# N$ `in the third quarter, in all surveyed categories. The burgeoning economy, low
7 W: k8 s4 \+ W# {- J2 m3 d, s* Y/ s( runemployment rates and low inventory levels remained the leading factors that9 K0 N. h6 ^/ U8 Y, W
pressured Calgary's house prices upwards. However, regardless of the soaring
  k. J, Z( M* F( _/ q& \1 z; Aprices that characterized the market - even during the typically slower summer
3 F; B* E0 o. \4 o2 A+ Dseason - it is expected that activity will become slightly more balanced, as, W2 m2 e8 B: Y% ?, s, Q7 v
buyers are becoming more reluctant to participate in the frenetic activity.
0 i8 J: o0 m6 X
% z) @, o) D" V9 E" h* n
    Edmonton's booming local economy continued to thrive in the third quarter
' T7 E- c- P, d5 g. x* vas activity in the oil sands north of the city continued to flourish. Edmonton
+ {* F; {, K$ B  \+ q7 n7 a7 ]remained the hub of activity for those coming to work in the oil industry,
. Q% [( Q1 k0 Pmaintaining tight inventory levels across the city, resulting in prices7 B, k& [9 f* |4 s
increasing at record levels. However, as inventory levels continued to improve2 J/ J. x  d2 @( ^
in the third quarter the rate of price appreciation should moderate slightly
2 U4 w! |+ ]# A. T* f4 ftowards the end of 2006.
   
8 o# Z' l4 q' N  C  j- p
% P# a3 ~' {* G* r2 oWhile Vancouver has seen a slight reprieve from the severe shortage of
& g9 w; |/ s% Binventory that had previously characterized the market, supply is still unable* ~$ S' r8 Q% O  i7 D
to meet demand, driving house prices upwards. Vancouver has a very diverse
% j2 A% I0 I- ]8 f. U" Z* jgroup of active buyers - from first-time home buyers to baby-boomers to
% b! E2 h( F5 `  T* c; F9 tforeign investors - all of whom fuel the demand for houses, placing added
! `3 [0 d; z  ?" Cpressure on tight inventory levels.! p$ h* L* _6 v: T  {: P1 n

3 e) M. M/ [8 B9 d    Victoria's market is vibrant and supported by strong economic
1 N1 l  {4 _. qfundamentals, fuelled by a booming tech sector and a migration of young people* J' f4 O/ S% g- m2 k* y
into the city that has continued to support the area's house price increases;% E4 X) T) J  `. l+ D
while increased inventory levels have afforded buyers more time when searching
9 u# }2 }( v0 j6 w" @1 Tfor a home, helping to normalize the market's pace.
9 X  {# \1 i5 r" L2 ^5 l* o1 a" x, ~$ M; v
    <<
1 ]0 I' ^/ C' o      Survey of Canadian Average House Prices in the Third Quarter 2006/ a1 V- ^" u+ s  W: G" N

  U9 [: W+ `% o1 o    -------------------------------------------------------------------------' M9 ?% p1 {. ?% |6 J8 ^1 A- ^$ a
                 Detached Bungalows                Standard Two Storey5 {' O0 h9 @! w7 _
    -------------------------------------------------------------------------4 \6 `) J) U6 D1 {9 U7 I6 Y
                     2006 Q3     2005 Q3    Bungalow     2006 Q3     2005 Q3% H7 M) u! B5 I7 ~: H
    Market           Average     Average    % Change     Average     Average) W8 w3 _. l/ \
    -------------------------------------------------------------------------
; [. a( ^, [5 R6 ]2 m1 j7 E    Halifax          186,333     173,333        7.5%     198,667     199,000
7 ?* B6 Y' ]" `! k& I, y' [    -------------------------------------------------------------------------
/ A' ~9 h. R% z0 O    Charlottetown    145,000     141,000        2.8%     175,000     170,000! j) _" f1 b8 ]# W# h3 _
    -------------------------------------------------------------------------) r* I: v3 A2 R7 O- i
    Moncton          135,000     127,000        6.3%     129,000     123,0002 A( @: I7 _/ [  J' |# g4 v7 M+ l
    -------------------------------------------------------------------------
0 j$ E4 h' d  M* z    Saint John       141,200     142,900       -1.2%           -           -% k6 V$ c" m  A" z4 L. F+ B% U
    -------------------------------------------------------------------------
$ ~( [0 ~( B- d" }6 b6 j/ h5 w    St. John's       143,667     142,667        0.7%     200,667     202,333& i) m" C/ A5 ~) {; u2 S
    -------------------------------------------------------------------------% H2 r; O8 n! @- J/ f; s  a& ~
    Atlantic         150,240     145,380        3.3%     175,833     173,583
# z. N: m1 `6 {. j+ p8 j1 p    -------------------------------------------------------------------------
" v8 ]/ E8 m7 T+ Z, q& T. k  {$ g    Montreal         213,691     203,500        5.0%     321,141     316,185# m) Q' j) ^; A9 k! a; V
    -------------------------------------------------------------------------
' M9 @7 p% W. H* O) ^% [; Y" d) Z9 S    Ottawa           290,083     278,417        4.2%     285,667     273,250
6 I9 r" E& C, F" D% Q    -------------------------------------------------------------------------
/ v) d" V2 X4 S/ \; W  p    Toronto          373,368     355,882        4.9%     481,523     474,766
; }8 m8 e' I8 P8 w0 @8 Q8 q    -------------------------------------------------------------------------
4 t) u. u$ _" `+ d    Winnipeg         181,579     159,860       13.6%     202,337     180,707
, C% B4 n; u$ v- L2 e( t! \& G    -------------------------------------------------------------------------
7 u$ Z3 [9 R4 `5 g9 x. Z    Saskatchewan     170,667     156,083        9.3%     182,600     166,5009 v! ?5 a& `3 l) f" ~
    -------------------------------------------------------------------------
9 ?. ?- M( `/ r- b2 R" q: L6 e    Calgary          395,067     252,411       56.5%     405,778     264,3893 ^% X* s& c5 B& g! N
    -------------------------------------------------------------------------
$ d7 }. V# `/ V& w    Edmonton         286,857     194,857       47.2%     316,429     206,714* j: [6 l% P: c! s
    -------------------------------------------------------------------------
4 G1 D- k, Q" i  g    Vancouver        704,250     601,000       17.2%     794,000     697,500) B0 _% ^6 T5 N: `# b3 m- d& C0 D5 \% T
    -------------------------------------------------------------------------% E& x, A/ d5 Z! {0 l0 X
    Victoria         375,000     348,000        7.8%     403,000     391,000
% g+ I  u$ H" {2 N, O. z( I. C% d    -------------------------------------------------------------------------/ K: s2 M4 w. z/ \/ b7 p
    National         300,365     258,202       16.3%     365,380     322,8607 n$ a/ w/ e7 }8 P' p
    -------------------------------------------------------------------------
* [2 j& u0 z1 I- d1 T4 B7 S2 ]) z6 z" u3 K
    -------------------------------------------------------------! f6 Q! [: x, K5 |
                               Standard Condominium
( T9 ~% ?/ `- P9 t    -------------------------------------------------------------) d, N4 A$ N, a0 w, O; B
                    2-Storey     2006 Q3     2005 Q3       Condo# D- t5 @, `4 Y8 `) S9 x3 R
    Market          % Change     Average     Average    % Change
- K% u5 I/ K  z  p: q' f$ p    -------------------------------------------------------------
0 A8 z& k& i6 F- V    Halifax            -0.2%     142,000     103,000       37.9%
" z" y' x" y0 n9 A; p    -------------------------------------------------------------
& N8 ]% C. ~4 k8 \    Charlottetown       2.9%      98,000      98,000        0.0%5 l5 T0 V7 @# R$ P
    -------------------------------------------------------------
$ A+ I' y2 u4 U) q0 O# S    Moncton             4.9%           -           -         N/A
2 W, _1 L* A! J7 l' u" w    -------------------------------------------------------------# A; ?. ^2 V. U0 i$ t1 o$ d3 p9 S
    Saint John           N/A           -           -         N/A
9 V1 `, E9 S8 f, `* N+ A    -------------------------------------------------------------2 f& T) Y& U8 j% I+ r: O
    St. John's         -0.8%     146,333     145,667        0.5%" q. H, A+ A  S! p# ?
    -------------------------------------------------------------
! P* S/ M9 y% y" J    Atlantic            1.3%     128,778     115,556       11.4%( v+ @9 A8 c% e# y/ L
    -------------------------------------------------------------
% p) L" M2 k1 G3 ?2 @    Montreal            1.6%     193,190     188,016        2.8%0 l" i  ]& B( Z
    -------------------------------------------------------------
0 e9 \4 I' Y6 [6 O' b+ F    Ottawa              4.5%     181,083     172,250        5.1%; |* f* K# b" v8 K$ }$ u
    -------------------------------------------------------------
) o9 K% V9 O% Q' I6 m9 l! T5 i; k& B    Toronto             1.4%     252,088     242,918        3.8%
" ]( k1 a! A+ ]) h: C* v/ [    -------------------------------------------------------------6 ?2 v. K% W$ P" }3 j; G
    Winnipeg           12.0%     105,648      96,008       10.0%
" t) E% o* \1 P% k    -------------------------------------------------------------7 P( z8 K/ c$ o% @
    Saskatchewan        9.7%     106,250     101,000        5.2%
# w5 }* |" c# O# J- }    -------------------------------------------------------------/ P* t7 Z$ I3 i' t" u; n0 Z5 C
    Calgary            53.5%     245,844     153,867       59.8%/ e* x& e" }. s
    -------------------------------------------------------------6 B. {, o/ a6 D/ E* w
    Edmonton           53.1%     200,433     131,500       52.4%
* @- s* R. e& U" F    -------------------------------------------------------------
$ v0 K9 D$ ~) {. |    Vancouver          13.8%     366,250     323,250       13.3%
, v; T6 A- v* u: C+ k2 I    -------------------------------------------------------------/ r/ |) r$ A  W9 `
    Victoria            3.1%     229,000     220,000        4.1%* h: D8 n, R& q0 K9 \
    -------------------------------------------------------------5 L& l  Q2 H* O5 x2 q" q* Z
    National           13.2%     211,562     185,296       14.2%( Z6 M- R' g' h# ~7 K" p' i. B7 T
    -------------------------------------------------------------
4 B- b  E5 Q& y" f    >>& E8 Y! H! H- p$ ~. V

0 p4 c7 M8 @% e! _. m& q. O8 Z    Average house prices are based on an average of all sub-markets examined/ I. E1 [% u8 @8 d
in the area, except for the smaller markets of Charlottetown, Moncton, Saint
! w9 O+ ^5 Z$ o  jJohn and Victoria.
# U9 r% R1 l) n5 ~. F& q# X8 N4 x! V1 z" h& H
    The Royal LePage Survey of Canadian House Prices is the largest, most
; r3 F5 F  d: p/ Q" r0 n7 f4 Hcomprehensive study of its kind in Canada, with information on seven types of
7 E: f" U8 Q% r. _- bhousing in over 250 neighbourhoods from coast to coast. This release
; O' ^8 d* Y$ L3 z2 oreferences an abbreviated version of the survey, which highlights house price& t6 o  m7 p9 L# e8 b7 v2 L+ K
trends for the three most common types of housing in Canada in 80 communities) O% h6 `5 a* i+ T) y% d  W
across the country. A complete database of past and present surveys is# I$ K3 A; x" h& Q( f0 d4 A
available on the Royal LePage Web site at www.royallepage.ca, and current
6 R# G* A. ]4 `: }: J0 N/ K9 L. ~4 Rfigures will be updated following the end of the third quarter. A printable& X* W) J1 f, k7 i6 o# r
version of the third quarter 2006 survey will be available online on6 a' Z9 v; G+ d2 h0 g! K
November 15, 2006.
0 d5 r2 Q& P( J- C4 `$ l2 A5 R    Housing values in the Royal LePage Survey are Royal LePage opinions of
$ x/ C; W; ]- T- K' T: Wfair market value in each location, based on local data and market knowledge3 J7 r( k. }3 m
provided by Royal LePage residential real estate experts. Historical data is! f3 Y" ^3 _) n8 F4 c
available for some areas back to the early 1970s.
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