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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 $ \9 s5 ?) u$ C

- e) e4 v5 X7 X! A! C7 j- Country's market poised to show growth throughout 2006 -
8 u6 s$ `2 s3 ~. a- I
  o! O* U1 h5 L- l    TORONTO, Sept. 28 /CNW/ - For most of Canada, the housing market+ @. s, ?2 k2 |$ D
exhibited moderate price increases and stable unit sales during the third( a$ g3 B6 \) L8 Q
quarter. Wide regional variances continued to be the dominant characteristic$ r2 Z- B8 C  }2 Y1 D; r
in the market, exemplified by frenzied levels of activity and double digit
5 P9 ?! l" l" v# t) p5 n; p/ [price gains observed in the energy and commodity rich Western provinces, and( B) ~; s5 G/ z- J
more reasonable sales volumes and moderate price appreciation in Ontario,
5 m3 e* W0 p$ L( \- h: ~Quebec and Atlantic Canada, according to a report released today by Royal
3 J" K5 u' }1 t8 T0 ZLePage Real Estate Services." a5 g4 C% ^* `1 L  q

. T8 o. I" S5 Y$ b' F/ g    Nationally, market trends established through the first three quarters
) w, t1 k6 a, N( ?; rare forecast to continue for the remainder of the year. Robust economic
: m5 |' E  f9 x* i" ?( Nconditions, low unemployment rates, modestly growing salaries and wages, and0 r: L5 _2 ?# e- b8 ~
sound consumer confidence contributed to the overall strength of the
9 i4 ^& \* i! a1 Z8 Lresidential real estate sector.
+ w* u, B9 V7 t/ s/ T- x" h$ h/ C" w7 ^
    Of the housing types surveyed, the highest average price appreciation! R% I. x7 `* p' p
occurred in detached bungalows, which rose to $300,365 (+16.3%)
7 k( B9 T% |$ G7 U/ ayear-over-year, followed by standard condominiums, which rose to $211,562
" p8 d% |# A3 O(+14.2%), and standard two-storey properties, which increased to $365,380
5 Q/ _* G/ E! a5 {(+13.2%).
, k4 D2 Y' h$ _2 _" H& n0 C; w
  V9 k( G  F; c) T6 O    "Canada's sturdy housing market continued to demonstrate steady growth9 R: Q5 k0 C- n# F/ R
during the third quarter. For all but the west, we have moved on from the
) o! f7 k5 i0 e' X3 c3 F" Ifrenzied expansion that characterized the first half of this decade, and are$ {3 h  S* I2 F  U! e" k- X5 _
poised to show continued growth at a more moderate pace," said Phil Soper,
& P$ Z' q" I- D) g- O; T* y5 Ypresident and chief executive officer, Royal LePage Real Estate Services.# R1 ^- O! M4 W% B. H2 @
"Gone is the sellers' market that we have lived with for some years. We/ R2 r8 J- s1 n9 C. Z9 f
welcome the more reliable conditions that are characteristic of a healthy0 D' B4 y/ E) Q
balanced market."
! H$ S. R; c: d$ ]
. d; p# D: m4 g; ^0 S0 [    Despite the double-digit rise in average national house prices,
* }2 t5 ~  q! M+ V" j/ Kconsiderable regional variances were exhibited again this quarter. The shift
; h/ \, _$ R+ d# @" a1 Oto balanced market conditions, which began in late 2005, has continued
6 ?2 }! E- T3 j4 e2 X$ kthroughout most of the Central and Eastern regions of the country. In the core; n7 o( n! W4 w! a* f
energy producing western provinces, the combination of very high in-migration,  W3 N5 ?# S8 F* P3 S
manageable affordability, and a shortage of inventory has driven record
% Z* b3 y, e# O% H( W  mbreaking price appreciations.
* G$ q5 w0 G: ?5 M4 v) h' D. X: f" ~/ ]' W4 v( Z; _
    Echoing the second quarter and supported by Alberta's rapidly expanding4 Y7 E, K' J! g9 P" K, L) l& h
economy, Calgary and Edmonton led the charge of Canadian cities with the' K+ |1 A) u- w! n- m
largest house price appreciation in all housing types surveyed.
* c' W& ]9 T2 G; N3 a8 D+ l. @" M) V  ?: @4 H
    In Ottawa and Toronto, growth remained steady, supported by solid/ o2 Z( a7 p1 Y+ r2 P4 }0 x
economic fundamentals, an increase in available inventory and strong consumer# k7 y5 W- {8 L. W7 e) D( S! g
confidence. While the pace of price appreciation in Ontario leveled off
7 r( W6 T& g; _6 }8 g) W/ jslightly, the province's real estate market remains poised for modest growth.$ l! E* f" ]. k  q! |) y
In Atlantic Canada, new housing and condominium construction offered buyers+ i7 M: j7 G& ?8 T
greater selection at more competitive prices, resulting in a slower rate of
- C' ^$ Y8 m3 n1 I- R2 ^4 zprice appreciation when compared with 2005.% a6 X$ G9 m+ ]" q6 E2 E% X3 ?
6 O" {2 \7 h& i. f6 R% o3 b  L! o
    While the pace of growth in Canada has slowed, the domestic housing
! V" D4 x2 ^5 e- d' _7 {market is expected to outperform the American market. The economic and1 o9 ]; p5 @) i" Y- t6 W; L* g
financial fundamentals driving the residential real estate sector in Canada% m: g$ N- \$ M8 F
are markedly different than those found in the United States.6 d/ @' p6 C9 w$ M; e

1 W' W4 w) q& Y6 Q' h* x    Added Soper: "Canada's housing market is likely to outperform the
+ @! e# l6 P, X' i, RAmerican market through 2007. A number of factors are working in Canada's- S# {( f7 a. m) P0 W& b. t
favour, including healthy personal and governmental debt levels, the- ^& k. O2 K5 k! q9 e
relatively modest rise in interest rates in our country, and general- J; N# v' k0 R& U/ ]% `( I
affordability in our major cities. In addition, Americans are now seeing the1 B9 \9 @: {, y! I  ~. I
downside of a tax system that encourages maximum homeowner leverage, and8 H  M* @+ L4 u" u8 I, J% b; @; o
aggressive financial products such as zero- and negative-amortization6 @( U8 U7 y/ ^7 f; g3 _1 G+ U
mortgages that work only in a high price growth environment."% w4 Y3 Y8 S# ?! @5 c( c

" B$ @' c, b) F5 C# s    <<
" p0 Z2 h, g+ o- A6 ]8 i# [                             REGIONAL SUMMARIES7 F  N+ X8 L8 C- U5 G3 X
    >>4 w5 B. m% t0 F, Z! \$ A4 [0 S

  j, x# X% \, q' f    Balanced conditions continued to characterize the housing market in
0 H, Z. W6 K+ j5 P  u7 `Halifax, as significantly higher inventory levels helped to moderate the rate( T: w% ~2 |4 M+ u' [2 }! G3 s
of price appreciation. Buyers were increasingly choosy, taking more time$ Z# q; P6 r, [
looking for newer, low-maintenance properties that were not in need of
3 N) f' T( N: E# p3 t4 Drenovations.! T# j! c, x- Q7 G  r

2 e7 C  K2 o* z( Y" N3 ^: D& ~* U! |  [    The housing market in Moncton remained healthy and strong as a slight
2 N% ]1 M  p7 h1 r; g4 E( Xincrease in inventory helped to moderate the rate of price appreciation) w; _5 P  C3 A& i4 ?
compared to the same period in 2005. Activity was brisk throughout August and$ d' x8 m2 p) c. W; B4 A$ J
September and is expected to remain this way through the fourth quarter.% ^( @- a5 E  M3 n" U- l, p

; Z) _+ x, \% ^( I' j& j$ K  p    The housing market in Saint John underwent its traditional summer
! G: }1 {; x' s( f4 t6 ?. q% O9 C) Uslowdown in the third quarter, with activity picking up towards the end of the
' h" B# U# M7 V6 ?/ `$ lquarter. The local economy continued to thrive, as construction on a new
8 ^! p" o+ H/ ^600,000 square-foot shopping area has begun, bringing several new box stores
3 U; j0 @, Z& l6 g$ v5 |9 rto the area. Buyers have begun seeking less expensive fixtures for their homes
! s! ], k) t8 qand are instead opting for more affordable housing options.6 p6 R8 f. ~- G
/ d$ V3 L: j- S" T# Y* A. D+ w
    In Charlottetown, the housing market started to move towards balanced
1 X* c0 ]; B2 K* R% p+ K2 V- Aconditions, as some sellers had to begin to lower the asking prices on their
" M/ [; M0 F- h4 r, Z6 mhomes to make them more competitive. Activity from out-of-town and US buyers
9 H% K+ B3 w" H/ {$ [/ ~( ^was down slightly compared to 2005, likely attributable to the strong Canadian
+ P' F2 L( [) e! p$ kdollar. Inventory levels began to creep up in the third quarter, providing. |! f% S+ }5 t$ u
buyers with more options when looking for a home.
' f! p# e0 ]' p
- B! U: u% u9 K$ b% ?/ H9 e5 P* q5 P6 A    Activity in St. John's slowed slightly in the third quarter, particularly- ]1 \) Q: L: }" \0 p# e* l. e
among higher-priced properties, where there was a slight over-supply of homes) N9 U8 K) d9 R
priced over $200,000. Listing periods have increased when compared with 2005," n+ [6 l( ?3 M1 G  K
as some of the pent-up demand that had characterized the market over the last
- m4 Z! L* s, y+ [8 Dfew years has been satisfied, resulting in more normal, balanced conditions.
2 \' ]8 y4 }. d& T& J, W
6 ~- X; x+ V" H% Z8 ^% R    Montreal's housing market recorded modest increases in average house# F/ x( U, P+ n, U, J" w/ k2 z+ ]
prices, due to a slight seasonal slowdown in the third quarter as inventory5 V! `) I# G/ V: N$ c) j* t
levels rose. Part of this can be attributed to the fact that many renting" S  y9 Q5 F& y
first-time buyers were motivated to close on the purchase of a home by July 1,
9 N! D3 T1 ]" e7 z1 T0 Y* |* i- gwhen rental leases expire in Quebec. Once this date has passed some of the* m4 M! n- \! Q3 T' e5 i" w
pressure is taken off the market, allowing buyers to visit more homes before, t6 I. N! V0 r$ C% E' q" F
making a purchase.
7 [* `: e6 u4 i* m2 X
5 }( w: p4 N4 M- X4 s) }/ X/ R    Ottawa held its position as one of the country's most stable housing' Y2 s" M8 R' Y; T! [
markets in the third quarter, reinforced by a vibrant local economy and strong
+ O/ v5 v4 X, \$ A' O9 fconfidence, resulting in modest increases in average house prices. The city$ q( ^. w: M! N3 m  t5 j, b" \
centre remained a bright spot in Ottawa, with homes in this area attracting. e4 b- h: Z3 z9 e7 ?
attention due to their convenient location and proximity to downtown
1 s# h2 H8 ~6 V8 _7 vamenities.( k& c9 r7 N6 ]9 V! j) H0 E
5 }; t' \8 |! v& c4 t! c
    The housing market in Toronto sustained healthy activity levels
( ~+ t  U+ T1 B  I# R3 `! ], fthroughout the third quarter, as a strong economy helped to maintain demand
4 M! g: l" o: B! P) y/ Y# `9 [across the city, causing average house prices to rise moderately. Toronto has
2 Q7 G& L& p  icontinued to experience modest growth in average house prices, and has been+ ?+ t6 k& p9 ?
driven primarily by purchasers who are buying homes as their principle
) A: e9 D# p4 F. gresidence, rather than for investment.) w. }* y9 q; c  J; `% M

1 \/ W, t$ w" T; Q" G' D    The vibrant Winnipeg housing market continued to show its strength as
& _+ F" R5 Y: o' I* ^house prices rose during the third quarter. The booming local economy resulted! F1 r% q( f1 M3 f
in a historically low unemployment rate, helping to bolster consumer
! M; `0 v: {6 u7 \) j: `confidence and Winnipeg's ranking as the city with the lowest capitalization
$ g" @" B2 |* u! Crate among the country's larger cities - helped to encourage buyers to enter
# a( y9 J/ J; n6 x% L# ythe market.( U: c( K7 T# s1 ]" V7 `

6 s& W2 _+ T% q7 H% D4 |- G4 M' ]    In Regina, the market experienced a slight seasonal slowdown through1 L5 n3 K4 C& ?0 r- Z6 N
July, as there were fewer purchasers in the market due to summer vacations. In, h; q" y0 L2 H3 j
August, activity resumed to the busy pace previously seen in the spring
6 @3 c" K" n3 Q4 L$ M4 umonths, as the influx of purchasers made it more difficult to find a home due
: |) [2 H- E0 h, c7 Z! o7 yto the shortage of available inventory.6 E6 b# p* f' {7 m
/ X2 _9 @; V6 D" L' s6 F
    Activity in Saskatoon remained brisk as the market maintained its
! h( ?6 y4 p) w0 V4 [+ h6 j, Tmomentum from the busy spring sales period. The economy in Saskatoon remains) B3 t9 h9 w0 w' M
vibrant, as employment opportunities are abundant with many businesses8 D  o' k% Y$ H6 h" S
struggling to make hires and having to recruit outside the province.9 v( t8 O3 L$ p" l. i( N
0 W& |3 w" B; q1 v0 D& G! f
    Calgary's housing market recorded blazing average house price increases
0 l7 E4 b# v5 h5 b& v8 pin the third quarter, in all surveyed categories. The burgeoning economy, low7 t* n0 H5 S3 g/ ~6 X7 u
unemployment rates and low inventory levels remained the leading factors that2 y# x' U1 t2 I, f# Y
pressured Calgary's house prices upwards. However, regardless of the soaring/ L. J0 ~& ~; R% k/ ~
prices that characterized the market - even during the typically slower summer
" J# O$ _: `3 ^3 O( qseason - it is expected that activity will become slightly more balanced, as5 T; V3 f3 e$ a, Q8 o& L
buyers are becoming more reluctant to participate in the frenetic activity.
5 ~; i/ U( Y: w! C

# z  H1 N8 F7 i    Edmonton's booming local economy continued to thrive in the third quarter
( {1 L+ ~% Y0 N& Z( ~as activity in the oil sands north of the city continued to flourish. Edmonton9 }% [. W$ k/ w8 g9 ]
remained the hub of activity for those coming to work in the oil industry,3 x% C! v* _- Y! [3 ~! {2 y
maintaining tight inventory levels across the city, resulting in prices# {6 k( K7 u' i$ N. ^
increasing at record levels. However, as inventory levels continued to improve4 m! h- C) I8 K
in the third quarter the rate of price appreciation should moderate slightly9 ~% F" N/ ]+ y3 B  G
towards the end of 2006.
    7 `- L- h3 A3 m, K. }
( ?: J# a( o8 `$ \; [
While Vancouver has seen a slight reprieve from the severe shortage of
- G3 l! |  X# b1 @9 I% O6 j0 ainventory that had previously characterized the market, supply is still unable# ~5 Z# l/ h0 k" s9 g
to meet demand, driving house prices upwards. Vancouver has a very diverse& Y5 m& q3 [8 [, V5 m, l5 g
group of active buyers - from first-time home buyers to baby-boomers to! z' f+ o0 g) o; J$ o- O
foreign investors - all of whom fuel the demand for houses, placing added
% @8 _) B  w* H3 J" Xpressure on tight inventory levels.2 q/ X* E* L) C4 ^4 z3 i1 \. `

+ T5 k6 |& g8 f% }' O    Victoria's market is vibrant and supported by strong economic
  z* Z/ ]' ~6 B) L! efundamentals, fuelled by a booming tech sector and a migration of young people
1 c: h/ x3 O& R# P  y# _/ Ninto the city that has continued to support the area's house price increases;7 c; n) n' \. ?) I" b
while increased inventory levels have afforded buyers more time when searching
2 ]1 n  S3 r8 N+ Tfor a home, helping to normalize the market's pace.
! d% G$ g6 }0 @. D" W% f% U$ H0 o+ g$ ~) H7 B: I: P" w( r. v
    <<: k7 l) p7 Z9 J) R  u
      Survey of Canadian Average House Prices in the Third Quarter 2006( S: T& J6 _$ V, V3 ?" T

7 t1 t) Z' _6 f- r# L5 l+ a    -------------------------------------------------------------------------5 W$ Y: a* i( _  t
                 Detached Bungalows                Standard Two Storey, j5 B: w$ P) B- g! m& J) @
    -------------------------------------------------------------------------" Y, U  }/ N- q( N
                     2006 Q3     2005 Q3    Bungalow     2006 Q3     2005 Q3" t+ _2 G6 K* g
    Market           Average     Average    % Change     Average     Average
' P+ Q# Y/ Y6 c" E' l) Z% L. d    -------------------------------------------------------------------------  e0 Y+ a5 s% x9 K$ O
    Halifax          186,333     173,333        7.5%     198,667     199,000* q- Y. s+ |- @. R& E4 I- O, ~
    -------------------------------------------------------------------------- L1 |# ?+ ?, Q$ m1 R
    Charlottetown    145,000     141,000        2.8%     175,000     170,000
8 D7 H8 B2 y. P* L( K) \$ y    -------------------------------------------------------------------------2 t: H, J. `* S1 V% b
    Moncton          135,000     127,000        6.3%     129,000     123,000" Z: Q4 L6 H5 |0 p: x6 x/ R
    -------------------------------------------------------------------------
1 g5 m% [8 a+ c' K! D. z    Saint John       141,200     142,900       -1.2%           -           -$ j: t% f8 V5 y! N, X
    -------------------------------------------------------------------------1 A! V* C* R  I
    St. John's       143,667     142,667        0.7%     200,667     202,3339 X9 N4 z0 c* J" Q% P7 U6 @# y/ x( d
    -------------------------------------------------------------------------4 C7 Z7 m% \, J: \# |
    Atlantic         150,240     145,380        3.3%     175,833     173,5837 d, n1 `6 u3 E' }; n! D) n1 U
    -------------------------------------------------------------------------
, Z6 i: b* |3 o5 u    Montreal         213,691     203,500        5.0%     321,141     316,185+ s% C) K% z1 _+ N! A8 U3 [
    -------------------------------------------------------------------------1 j. f' q& g! [$ f, |2 _- F4 V& f
    Ottawa           290,083     278,417        4.2%     285,667     273,250) e5 @% ~& ~* C) \# U( [/ ~3 Q
    -------------------------------------------------------------------------
0 M8 X8 ^$ K/ F0 n; r! y# ?: h    Toronto          373,368     355,882        4.9%     481,523     474,766( w+ r/ ?! C5 I0 \  H4 v3 i5 N
    -------------------------------------------------------------------------5 |5 T: _2 c* W; d! _+ [! t4 c6 h% \
    Winnipeg         181,579     159,860       13.6%     202,337     180,707) d  L' }9 U# e# k% V; j
    -------------------------------------------------------------------------
0 p+ K& U& x% q' T    Saskatchewan     170,667     156,083        9.3%     182,600     166,500
+ ~9 A/ B' |/ G" I/ e    -------------------------------------------------------------------------
) H* w, {3 s9 E    Calgary          395,067     252,411       56.5%     405,778     264,389
6 u0 O: }4 x# e& @6 U" w    -------------------------------------------------------------------------5 C# z4 H( e: _
    Edmonton         286,857     194,857       47.2%     316,429     206,714
: [! H" d3 X( o) y9 ?0 D; P    -------------------------------------------------------------------------  Y& {, x$ K" s) v' i
    Vancouver        704,250     601,000       17.2%     794,000     697,500) ^2 t. Q( x7 F" C0 V# O4 P
    -------------------------------------------------------------------------" J( [8 J3 P# k5 [
    Victoria         375,000     348,000        7.8%     403,000     391,000, S: y6 q1 i7 T* S, ^1 L8 R
    -------------------------------------------------------------------------
7 `" c/ s; q1 M5 z  u    National         300,365     258,202       16.3%     365,380     322,8607 h7 ~2 U: o- E  q! @1 Q5 \9 O$ k
    -------------------------------------------------------------------------, y' `% O9 [% [2 x/ I; f# S

' E9 w. ~( ~% p1 v) R! T    -------------------------------------------------------------* ^6 y, b, k9 V1 }/ i, Z
                               Standard Condominium7 E* D" X( Y# g' @, t5 {+ S
    -------------------------------------------------------------$ ~% B, v8 \- b2 W1 m5 i
                    2-Storey     2006 Q3     2005 Q3       Condo
8 q# r5 Q' h  M  O) |4 M    Market          % Change     Average     Average    % Change& J2 X& G( p! D& x% S
    -------------------------------------------------------------* x/ ~  ?+ \* V7 V' X+ j
    Halifax            -0.2%     142,000     103,000       37.9%$ L4 e4 t6 U. A' j7 w3 n& [
    -------------------------------------------------------------
7 f1 }$ V$ N2 K  K    Charlottetown       2.9%      98,000      98,000        0.0%
4 Z' ^6 H! k/ M. f4 `# M    -------------------------------------------------------------2 L  W: R: _& U& O$ P
    Moncton             4.9%           -           -         N/A9 k, T% E) ~* F0 s
    -------------------------------------------------------------
7 h  U2 S- O4 M& G$ e    Saint John           N/A           -           -         N/A+ T- i( B& Y% @% m' ~* g" {
    -------------------------------------------------------------2 Q: S8 \$ P! N$ \
    St. John's         -0.8%     146,333     145,667        0.5%! q, I" V# H3 U/ G$ J9 `
    -------------------------------------------------------------5 j3 a( ~  v) ~( V# b3 \
    Atlantic            1.3%     128,778     115,556       11.4%4 z' g0 d( B9 t5 H, D. R& X% Y- i
    -------------------------------------------------------------
. ]& O$ a1 x% z, r& k* i1 T    Montreal            1.6%     193,190     188,016        2.8%3 U* o9 {5 H" b4 c+ J1 [4 P$ K3 t: O* \
    -------------------------------------------------------------
2 A6 ], r5 H. I5 Q9 X2 U8 w/ ^    Ottawa              4.5%     181,083     172,250        5.1%
- i9 d: C7 S5 g3 _9 |    -------------------------------------------------------------: ^" s. V4 {" s4 U' D6 s' A
    Toronto             1.4%     252,088     242,918        3.8%) O& }6 p% k4 O1 l3 n
    -------------------------------------------------------------
' Z; J/ @9 E! i7 ?4 X    Winnipeg           12.0%     105,648      96,008       10.0%/ ?# Q2 c& `8 Z  {1 ?
    -------------------------------------------------------------
5 i* B5 S  X( @) ^1 I( K    Saskatchewan        9.7%     106,250     101,000        5.2%
4 a$ W  U( {) @* j% b+ l% j    -------------------------------------------------------------& [9 R7 e$ W- }# _, S2 c
    Calgary            53.5%     245,844     153,867       59.8%
0 Q# @; g% p# S4 _1 f1 E    -------------------------------------------------------------5 |7 {2 J: D- h; Q# L  I0 c) Q
    Edmonton           53.1%     200,433     131,500       52.4%
' P1 R2 v$ A' |: m! x$ B8 h2 }    -------------------------------------------------------------* H1 j5 X3 _4 G3 y: s
    Vancouver          13.8%     366,250     323,250       13.3%, ^/ n1 |* R  Q+ [
    -------------------------------------------------------------
. z  O  `, i% q& Y3 Y    Victoria            3.1%     229,000     220,000        4.1%
- J+ ]/ p" e% k  x, \    -------------------------------------------------------------5 p9 F& e" Y# y8 p
    National           13.2%     211,562     185,296       14.2%1 O5 A! t& @+ t. |
    -------------------------------------------------------------' t. m) _/ k- G
    >>
0 p( o& m9 i# T& b0 e/ S. H1 H2 ~1 }: V& V* w) J; l7 K
    Average house prices are based on an average of all sub-markets examined
: V8 C6 m& E  l( F6 v$ {in the area, except for the smaller markets of Charlottetown, Moncton, Saint
8 r' t. Y5 H2 Q2 N8 H3 ^) `5 KJohn and Victoria.
, t/ S. K% J! G3 J
, q- j: g5 E* y5 ^    The Royal LePage Survey of Canadian House Prices is the largest, most
2 O9 m! @! y; H- Y3 Bcomprehensive study of its kind in Canada, with information on seven types of: h+ L# a2 T+ E: g5 c3 V
housing in over 250 neighbourhoods from coast to coast. This release- ^0 w3 L3 L! b- `
references an abbreviated version of the survey, which highlights house price) V$ M6 ]4 N' X( M+ m
trends for the three most common types of housing in Canada in 80 communities
/ g" B" @. X6 D4 l' Z1 tacross the country. A complete database of past and present surveys is2 U- \7 L4 N. t% b2 p- @+ I8 O. S7 T
available on the Royal LePage Web site at www.royallepage.ca, and current% k- z# m1 {! y/ a% U9 s, N5 R
figures will be updated following the end of the third quarter. A printable
0 P) Y; [  U0 kversion of the third quarter 2006 survey will be available online on& C: _& C+ `8 m5 w) l" d3 k" O8 S
November 15, 2006.+ l& i- W- W* g* Q  j7 w
    Housing values in the Royal LePage Survey are Royal LePage opinions of" a, g  O6 C5 ~- B& U$ v5 B0 r
fair market value in each location, based on local data and market knowledge' ~) Q8 y/ h4 c* ]
provided by Royal LePage residential real estate experts. Historical data is1 |4 q7 R& B+ e5 p
available for some areas back to the early 1970s.
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