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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
) q+ }/ q" r1 Z# Z# S0 p
5 F. d- h7 a- U% D- Country's market poised to show growth throughout 2006 -: s- n2 r3 t8 q2 v2 ^1 q: N
3 ~4 O; m! J9 U. ]
    TORONTO, Sept. 28 /CNW/ - For most of Canada, the housing market& q. G% H/ W$ n" p0 P* \
exhibited moderate price increases and stable unit sales during the third2 F0 ?% m! k& u/ A# A/ C
quarter. Wide regional variances continued to be the dominant characteristic- P- s$ P0 ^- ]
in the market, exemplified by frenzied levels of activity and double digit
1 B/ E& D. X) G) a: ?% G7 h1 jprice gains observed in the energy and commodity rich Western provinces, and
. O9 J/ N1 K; r! M! wmore reasonable sales volumes and moderate price appreciation in Ontario,
+ a% I5 s" R4 o' `3 _Quebec and Atlantic Canada, according to a report released today by Royal* `3 O- e, o, r! @8 _
LePage Real Estate Services.
# O8 Z1 p, v) @, e* J% ^6 F- W" g) k* m7 y7 {' `4 N, X
    Nationally, market trends established through the first three quarters9 Z/ T; X6 A; j$ `6 F
are forecast to continue for the remainder of the year. Robust economic2 q/ v" B7 X/ K% n- n" S! n7 l
conditions, low unemployment rates, modestly growing salaries and wages, and
4 p, j. i7 @  J  C* ^# }sound consumer confidence contributed to the overall strength of the5 E' s: m, A. k) [* ]# g0 j1 `- \
residential real estate sector.9 E( d2 ~0 q4 ]+ Q

: u, ~* V- U( ]0 L1 d* j! H% q/ n    Of the housing types surveyed, the highest average price appreciation2 C& ~0 M# P7 u" z5 G
occurred in detached bungalows, which rose to $300,365 (+16.3%)
9 i+ L, ?2 g% Y* ayear-over-year, followed by standard condominiums, which rose to $211,562, U. @" n6 i- Y( w
(+14.2%), and standard two-storey properties, which increased to $365,3806 X$ ?- V, |# }/ [( H) y
(+13.2%).
- c) \1 l$ e7 s; b  ]2 J) g) E
# E- m/ }1 m+ O+ b    "Canada's sturdy housing market continued to demonstrate steady growth/ h5 @' ^2 x8 f" P3 N# D6 C
during the third quarter. For all but the west, we have moved on from the
  t' f3 N5 s9 P1 |frenzied expansion that characterized the first half of this decade, and are- ?; k4 a5 E+ x' U! {( _5 V5 v2 J
poised to show continued growth at a more moderate pace," said Phil Soper,
3 l, Z" }, q: J8 ~( E% upresident and chief executive officer, Royal LePage Real Estate Services.
+ B- e3 A  Y) X6 Z/ d"Gone is the sellers' market that we have lived with for some years. We
  Q9 @+ J$ b9 Q% j! Fwelcome the more reliable conditions that are characteristic of a healthy5 K- r; q- L8 J9 s
balanced market."$ g" E- }4 J- [6 K. ?$ o2 B
( x9 I9 i9 `' k! N: U
    Despite the double-digit rise in average national house prices,/ f, e  P( a# v5 R2 h- q7 k- n. \
considerable regional variances were exhibited again this quarter. The shift# |: \  N& P9 {  q6 i- f
to balanced market conditions, which began in late 2005, has continued
6 _. h# L8 \/ `& d* Ythroughout most of the Central and Eastern regions of the country. In the core
5 N. N9 P4 O! T: s7 E1 P7 @* `3 w# ~energy producing western provinces, the combination of very high in-migration,
6 T. P; |- z1 g( O5 C7 v+ gmanageable affordability, and a shortage of inventory has driven record1 e5 [1 @, b' {
breaking price appreciations.9 ?- \5 n: o7 T( k! ~# n
: C: z6 \9 i7 @. y/ e* W
    Echoing the second quarter and supported by Alberta's rapidly expanding4 S, ?8 p1 W+ g* Y
economy, Calgary and Edmonton led the charge of Canadian cities with the( ~; h6 a( N# i. E
largest house price appreciation in all housing types surveyed.
( C+ F2 \# ~- N" E; q! X1 k+ e0 f
7 D* g& F8 T/ t$ I7 ~9 e7 d' J    In Ottawa and Toronto, growth remained steady, supported by solid
9 x3 z0 M  D$ s  Aeconomic fundamentals, an increase in available inventory and strong consumer3 k) A: \, j  M7 u: q. G
confidence. While the pace of price appreciation in Ontario leveled off
2 I5 d& Q' v0 t  P: Cslightly, the province's real estate market remains poised for modest growth.' j# N) R0 Q# o$ m" ~& H
In Atlantic Canada, new housing and condominium construction offered buyers' n& _: f7 g# R$ }0 {2 U" o
greater selection at more competitive prices, resulting in a slower rate of8 d$ r, W+ U( X7 _; {: V3 W
price appreciation when compared with 2005.
8 d# o  ?! R! ^. k$ s7 R8 }& ]) ]  T( B9 H* B' }/ R2 k" q
    While the pace of growth in Canada has slowed, the domestic housing, B) R0 e+ S( Z' o
market is expected to outperform the American market. The economic and2 T; y6 O/ [: v' t: b$ e  f
financial fundamentals driving the residential real estate sector in Canada
; l$ J2 ?, p* `$ i% Eare markedly different than those found in the United States.+ q3 k  \. T2 r3 F1 Y4 A0 e
, l& c, ^/ p/ N6 n. R; J
    Added Soper: "Canada's housing market is likely to outperform the8 p: V3 C% _" {' z$ v' j  N0 T
American market through 2007. A number of factors are working in Canada's
0 T) v0 E# b$ q2 }4 f5 dfavour, including healthy personal and governmental debt levels, the
* C/ S+ _7 G4 Y  `+ u. L' O7 |relatively modest rise in interest rates in our country, and general
5 _8 [+ v3 ]1 q, H, e, N7 Faffordability in our major cities. In addition, Americans are now seeing the$ O! D$ p& I) Z- d6 y) k0 o
downside of a tax system that encourages maximum homeowner leverage, and8 y3 c0 Y! G- C) w9 r! E# q  l* p
aggressive financial products such as zero- and negative-amortization5 ]) I& E# R6 h+ _6 B; |7 c  k" g; R* H1 ]
mortgages that work only in a high price growth environment."* G+ y  L. S* u" c) {

- s* x: s( x# [    <<
  p. i; R2 ^* k0 K3 C                             REGIONAL SUMMARIES$ c" |7 x- s/ z  Y, |% {- N
    >>2 o& l8 G% @+ r; X3 \8 P

: P: T' O: N" H. y# C    Balanced conditions continued to characterize the housing market in8 p' u+ E- j6 C2 X. B& m5 c7 x+ f& U' u
Halifax, as significantly higher inventory levels helped to moderate the rate4 v  c$ V/ m% M& b
of price appreciation. Buyers were increasingly choosy, taking more time
7 `, D( N( X; `$ J9 _' _5 p# `9 alooking for newer, low-maintenance properties that were not in need of
$ I0 b4 |1 a2 `& h0 a7 Grenovations.7 r2 e* _4 R* G& z' l
. s- V5 J1 G8 ]5 P# e
    The housing market in Moncton remained healthy and strong as a slight) A+ J& W* p2 ]" e/ e
increase in inventory helped to moderate the rate of price appreciation: \, s4 K3 P7 j1 O% A9 s, b
compared to the same period in 2005. Activity was brisk throughout August and
' |: e, u, w. k1 ASeptember and is expected to remain this way through the fourth quarter.
0 h* f7 I8 `% l7 g* L2 h, a# h' ^! [4 V: x) _& ]: K3 c0 n
    The housing market in Saint John underwent its traditional summer; p! M0 q4 @" X; `7 _) A) _- z0 J) \
slowdown in the third quarter, with activity picking up towards the end of the
/ @3 k3 `$ L. Q* H4 fquarter. The local economy continued to thrive, as construction on a new
! a: m. p  B: _* ?( C600,000 square-foot shopping area has begun, bringing several new box stores- y1 H( c7 i2 D# ~  V& V9 e  E5 ~
to the area. Buyers have begun seeking less expensive fixtures for their homes
( X& E" G% e6 _7 ~4 s8 Kand are instead opting for more affordable housing options.
! r) W! m: l" Q, }: r! P0 T9 t% f* ]1 n5 D5 I; h
    In Charlottetown, the housing market started to move towards balanced! f9 D5 g. H. _
conditions, as some sellers had to begin to lower the asking prices on their
5 ^1 E' d" E; W9 K/ ghomes to make them more competitive. Activity from out-of-town and US buyers9 r* N& a7 n+ [  N! ^% S8 ]/ `; U
was down slightly compared to 2005, likely attributable to the strong Canadian
/ w8 j+ _7 C& p2 l4 Edollar. Inventory levels began to creep up in the third quarter, providing, i; [7 j4 q" c
buyers with more options when looking for a home.
- X7 y& m: L; M& j+ ]  p* A* R
4 D& }+ B$ W; @. ?3 \5 ?. U    Activity in St. John's slowed slightly in the third quarter, particularly
6 E: D1 ?7 W1 i0 i3 A: Z9 |& [among higher-priced properties, where there was a slight over-supply of homes
- q# E; d3 f6 b, ?2 W# hpriced over $200,000. Listing periods have increased when compared with 2005,8 a8 \% n' Z+ s* F
as some of the pent-up demand that had characterized the market over the last
" a' O* v0 C/ |- p; t( c- ^* dfew years has been satisfied, resulting in more normal, balanced conditions.
! ]+ q' ~4 N, b$ d5 t" C
( H$ ]2 S, I) C& ~; u4 I    Montreal's housing market recorded modest increases in average house
1 h, n  D* D  y5 x% V0 qprices, due to a slight seasonal slowdown in the third quarter as inventory
- l8 V, S  y" ?* i' d0 u- F9 L7 S4 R: mlevels rose. Part of this can be attributed to the fact that many renting+ ]4 n8 v3 @  E1 N
first-time buyers were motivated to close on the purchase of a home by July 1,% W3 p& A6 e2 y) \  S
when rental leases expire in Quebec. Once this date has passed some of the
. J/ s+ M. |1 j4 [# mpressure is taken off the market, allowing buyers to visit more homes before
+ v1 C) P6 r; o8 s* t; s7 Jmaking a purchase.
+ S; H' A! E: M' d, M/ B3 b7 A1 S& o/ o5 j2 P( w1 t. J
    Ottawa held its position as one of the country's most stable housing' u, c, z. T( {( S9 _- s5 ~' K; \. H4 [
markets in the third quarter, reinforced by a vibrant local economy and strong8 N; T' P! ^# i* |1 e0 ^% [" T
confidence, resulting in modest increases in average house prices. The city) F- d8 B" q- l- w' B' p- @# [2 M
centre remained a bright spot in Ottawa, with homes in this area attracting
) y" H2 w  k" h, ^attention due to their convenient location and proximity to downtown( [: ]/ Z- W: S& C; _0 {
amenities.0 X. s; x& }6 x( E$ v, F
) g" v. Q$ o+ g8 W
    The housing market in Toronto sustained healthy activity levels7 e4 a% S: w6 F9 T( f  t7 b
throughout the third quarter, as a strong economy helped to maintain demand
. j, b: W. C* C) g0 t0 ]across the city, causing average house prices to rise moderately. Toronto has7 l# e& s6 z6 B, T9 V
continued to experience modest growth in average house prices, and has been+ E. y/ G% x* U8 a' I
driven primarily by purchasers who are buying homes as their principle& l. B, f+ W/ x
residence, rather than for investment.
/ P+ \" j# z  s- K9 W/ m4 K' B0 z: `! q* |( X+ |
    The vibrant Winnipeg housing market continued to show its strength as2 ]( X7 Y; x, Y8 @2 h
house prices rose during the third quarter. The booming local economy resulted- ?  z7 H& Z. I* M+ [$ o8 k; T) Z( M
in a historically low unemployment rate, helping to bolster consumer/ _$ @7 s/ D, ?  @3 R; `  k! `
confidence and Winnipeg's ranking as the city with the lowest capitalization
1 S3 L7 v$ c& d9 u# h- lrate among the country's larger cities - helped to encourage buyers to enter
2 q# i% t/ b5 r% f' l, e, vthe market.1 o6 F, J  t, a3 }- v

; G# Z& @0 C% U- v5 E- t    In Regina, the market experienced a slight seasonal slowdown through6 C  [& S% I6 `' a7 O6 j. f
July, as there were fewer purchasers in the market due to summer vacations. In
( Z. s0 O6 _1 M, E$ m. Y  `August, activity resumed to the busy pace previously seen in the spring/ F( `( F5 V$ \, }& Z. V
months, as the influx of purchasers made it more difficult to find a home due
) _9 |, z( x6 R6 |  Oto the shortage of available inventory.
% `: Y) {# F7 x, i# A* p2 K/ i$ ~6 s- o
    Activity in Saskatoon remained brisk as the market maintained its5 S( A  b  I2 I7 T
momentum from the busy spring sales period. The economy in Saskatoon remains
3 `# [5 x3 o. r6 Nvibrant, as employment opportunities are abundant with many businesses' ]  X4 Z# C6 l
struggling to make hires and having to recruit outside the province.  E" T  Y  b# Y

4 ?7 ]! [1 n% B. w* u  F: G1 z    Calgary's housing market recorded blazing average house price increases' P% a" `9 P6 K9 o8 x& s
in the third quarter, in all surveyed categories. The burgeoning economy, low
" i4 r2 \- P. w. W% ?2 Gunemployment rates and low inventory levels remained the leading factors that
7 [$ u& ?# y( ~* \pressured Calgary's house prices upwards. However, regardless of the soaring
/ y- o- N$ }4 w; }& q  E/ bprices that characterized the market - even during the typically slower summer
* J1 v' \. D6 S5 c0 u8 w9 N% `: h0 Useason - it is expected that activity will become slightly more balanced, as
- V/ y; z' e! S: Qbuyers are becoming more reluctant to participate in the frenetic activity.
) C4 [! L7 p0 B3 _( L
8 ^( }) Z& _( B- r
    Edmonton's booming local economy continued to thrive in the third quarter
* p: v. m1 M4 {& nas activity in the oil sands north of the city continued to flourish. Edmonton  v& B& s- T: i
remained the hub of activity for those coming to work in the oil industry,
& Z$ G* c+ ~$ X% W. H" |maintaining tight inventory levels across the city, resulting in prices
8 n8 P( v5 [* v' b; j5 Z. Hincreasing at record levels. However, as inventory levels continued to improve8 m* s% a7 z; [
in the third quarter the rate of price appreciation should moderate slightly
, P" `3 }" s' j, z+ n" Otowards the end of 2006.
   
) B9 y& s& R) T; v- j+ }: N
: U# G9 V) S3 n( bWhile Vancouver has seen a slight reprieve from the severe shortage of  ?: v) A0 S4 A. X. N/ y
inventory that had previously characterized the market, supply is still unable: K7 F! J/ \" j
to meet demand, driving house prices upwards. Vancouver has a very diverse! f/ \2 q8 q% P/ H& z# R# @9 C$ u- i
group of active buyers - from first-time home buyers to baby-boomers to, k  O0 ~- q" U) C2 V
foreign investors - all of whom fuel the demand for houses, placing added- i& S( N* r5 \& o( L
pressure on tight inventory levels.
0 S% V, a. d' P: R3 P
# f% o0 e: Y' O4 b$ V    Victoria's market is vibrant and supported by strong economic6 {& c; j& I: B: c
fundamentals, fuelled by a booming tech sector and a migration of young people" S' g( @7 I5 K0 k1 Z& }. I
into the city that has continued to support the area's house price increases;
6 s6 v, U) ~1 p" u) s7 Hwhile increased inventory levels have afforded buyers more time when searching: s! u7 t0 Z. \: R6 }/ M5 n
for a home, helping to normalize the market's pace.
+ F$ `. b+ h) x% N' {3 p9 m$ i: p/ k
    <<3 u/ K  s+ Z; d4 h5 B6 I& F
      Survey of Canadian Average House Prices in the Third Quarter 20067 t' ]5 Z# D4 w! |' }# B

$ ]5 b( [4 b3 U    -------------------------------------------------------------------------# H+ X  _' K  }7 d- t8 D& x
                 Detached Bungalows                Standard Two Storey- G0 ]+ f3 ]' v$ K1 Y; J
    -------------------------------------------------------------------------
* G% @# T# s( T# k/ @6 p& m7 ]                     2006 Q3     2005 Q3    Bungalow     2006 Q3     2005 Q3
+ N' T9 e! x' }1 W    Market           Average     Average    % Change     Average     Average2 w( V5 m  B+ @- S0 `# u
    -------------------------------------------------------------------------
0 X, E2 i7 v7 x9 j+ B. o8 ~    Halifax          186,333     173,333        7.5%     198,667     199,000
8 S- T% ~% D9 J0 _    -------------------------------------------------------------------------
6 `$ ]8 K6 X( Q) Q' K* m" U$ P9 {    Charlottetown    145,000     141,000        2.8%     175,000     170,0002 ?7 ~% Y& ^" J% c: N8 s, c
    -------------------------------------------------------------------------3 c8 ?" Q9 q0 u0 E2 d; N8 L! x
    Moncton          135,000     127,000        6.3%     129,000     123,000, B; g, S1 ]' J$ U
    -------------------------------------------------------------------------- [! O6 o* s3 R
    Saint John       141,200     142,900       -1.2%           -           -
" K7 g6 N* x; T) C    -------------------------------------------------------------------------5 |" {. |9 W9 _; \7 q% l" C
    St. John's       143,667     142,667        0.7%     200,667     202,333( n1 ^, I+ W2 |
    -------------------------------------------------------------------------
5 I/ z$ G: R: p- Z' t    Atlantic         150,240     145,380        3.3%     175,833     173,583
+ ]2 i" Y+ }; p, U! B$ M3 i    -------------------------------------------------------------------------. L( Z# t2 F6 J3 {# w2 Q+ ~) U1 r/ `
    Montreal         213,691     203,500        5.0%     321,141     316,185
$ c5 |6 @% y. H' h) a    -------------------------------------------------------------------------
) n. C3 {  T  N    Ottawa           290,083     278,417        4.2%     285,667     273,250; U( ~! n0 r9 H! ]: [% z2 N- {% @
    -------------------------------------------------------------------------
3 c3 t+ S. D2 `    Toronto          373,368     355,882        4.9%     481,523     474,7666 \1 [( R+ Q" B9 J/ S
    -------------------------------------------------------------------------9 A! G/ Z( k0 E2 \
    Winnipeg         181,579     159,860       13.6%     202,337     180,707
0 ~1 P1 m( Y, e4 _6 l. L    -------------------------------------------------------------------------
; u/ U5 v" J) n4 {1 x    Saskatchewan     170,667     156,083        9.3%     182,600     166,500% R7 l! t/ J/ h3 [5 M: E$ T3 B
    -------------------------------------------------------------------------' c8 H4 O5 t6 Y; e# J* X4 h/ r  _
    Calgary          395,067     252,411       56.5%     405,778     264,389: p) g" G) x& b7 x% h. O8 o' u- p
    -------------------------------------------------------------------------0 f5 M; W; T% `6 ^6 M5 u
    Edmonton         286,857     194,857       47.2%     316,429     206,714
( _4 ~. E! Y0 ^: L    -------------------------------------------------------------------------0 M4 n" d  |1 y, k/ i) r
    Vancouver        704,250     601,000       17.2%     794,000     697,5002 h$ k3 u9 d: n
    -------------------------------------------------------------------------
0 Y4 u, O2 z9 G+ x) p    Victoria         375,000     348,000        7.8%     403,000     391,000! `$ s/ g$ y# `5 d0 g
    -------------------------------------------------------------------------
) e: i( ]6 |2 ~' K# |- C8 B- T    National         300,365     258,202       16.3%     365,380     322,8607 q- b" [; U# A5 _  t: p
    -------------------------------------------------------------------------
4 d. Q1 U3 x; h; l2 s( C
1 V5 `! p% M- e6 \) ?/ J" M4 w9 w    -------------------------------------------------------------
! Y+ s4 e) |0 y/ z4 Y                               Standard Condominium" [; Q1 [/ u  I! l8 @* l* ^! ^8 v
    -------------------------------------------------------------" T1 A6 F4 h# c. p
                    2-Storey     2006 Q3     2005 Q3       Condo/ Z) H* b& H9 ?# u
    Market          % Change     Average     Average    % Change) J8 `9 i+ f6 V; N) ]
    -------------------------------------------------------------& a4 U$ Z& Q/ a2 s
    Halifax            -0.2%     142,000     103,000       37.9%
/ q3 x" |/ U( k4 R    -------------------------------------------------------------# u% e) k4 v0 s4 ^3 u* |- E
    Charlottetown       2.9%      98,000      98,000        0.0%! H7 S' k+ @9 ]
    -------------------------------------------------------------* m! a% f" n% w8 S7 c7 V
    Moncton             4.9%           -           -         N/A
: g4 M6 {, a7 B. e    -------------------------------------------------------------! Q& T. M) B/ |, \8 D/ L
    Saint John           N/A           -           -         N/A
7 j) }  ~0 z, [/ `/ M    -------------------------------------------------------------) L  t* Z6 Q4 V0 c& s* H+ \
    St. John's         -0.8%     146,333     145,667        0.5%
! R. c- c% B3 G6 ^0 ~. R9 U: G    -------------------------------------------------------------
6 x+ L* `" d4 O. @, E# B7 a6 t    Atlantic            1.3%     128,778     115,556       11.4%
) e7 c. }6 z; E2 ^# J: O    -------------------------------------------------------------$ X0 R$ g0 m1 |
    Montreal            1.6%     193,190     188,016        2.8%
! n+ e& h1 ~& H) [, l; B& |( H    -------------------------------------------------------------
+ m7 x9 e) _9 w; i$ Y& |$ p    Ottawa              4.5%     181,083     172,250        5.1%5 `8 V  L" M! K7 Q' _! [& _
    -------------------------------------------------------------
! L- n; U& F( p( i- }8 l1 z    Toronto             1.4%     252,088     242,918        3.8%
0 o+ R+ \" U2 `4 X" }; U7 T    -------------------------------------------------------------
9 A/ T4 H) R( g) Y0 @7 \# ]& X    Winnipeg           12.0%     105,648      96,008       10.0%- {: o/ j8 J, {" ]$ D* P$ e
    -------------------------------------------------------------9 A6 c% ]/ G4 L8 \" G* ^
    Saskatchewan        9.7%     106,250     101,000        5.2%
5 d6 m; n; h: f2 Y: |& N. D1 E3 {) Y    -------------------------------------------------------------
& k9 y4 z; D5 m& L- a    Calgary            53.5%     245,844     153,867       59.8%, Y$ E; w8 \6 I4 M
    -------------------------------------------------------------8 x) j  p7 H; z7 h+ p5 V+ b+ ^2 f) M
    Edmonton           53.1%     200,433     131,500       52.4%) V" @4 _! k5 u& `/ Q9 f
    -------------------------------------------------------------
% v; b. D, s) Q, b3 @& N    Vancouver          13.8%     366,250     323,250       13.3%, \, e) V( Y8 W/ B
    -------------------------------------------------------------+ |4 R7 r7 Y/ x$ C. H1 x. R' j- P
    Victoria            3.1%     229,000     220,000        4.1%  s9 a. w! i3 h" d- n8 f
    -------------------------------------------------------------0 j  r/ Q7 F9 F( \
    National           13.2%     211,562     185,296       14.2%
: A/ B2 n, V% }' E2 Z; w% }( i    -------------------------------------------------------------
9 X- u0 x7 g# H3 g    >>
) A5 u& H- U1 \: }! T+ |1 B' b2 W4 `0 l! L
    Average house prices are based on an average of all sub-markets examined
# H/ u5 [9 q# V- X6 H; C7 L, yin the area, except for the smaller markets of Charlottetown, Moncton, Saint
  t7 B5 r- G" g1 O4 ?- MJohn and Victoria.
9 E/ W4 f3 s" I2 S. j/ f# [2 o) A  _- ]" T$ O( E" `, `6 r
    The Royal LePage Survey of Canadian House Prices is the largest, most
+ G9 F2 h/ `' r7 {! T& ocomprehensive study of its kind in Canada, with information on seven types of, N7 d0 a3 E6 v
housing in over 250 neighbourhoods from coast to coast. This release
4 f! y& F0 n8 J$ N9 T* vreferences an abbreviated version of the survey, which highlights house price% a% b4 t9 v9 v+ w- D+ m
trends for the three most common types of housing in Canada in 80 communities
" u+ C) s7 ?, e9 d- W6 hacross the country. A complete database of past and present surveys is
4 n- V# h4 u  s; _7 _- cavailable on the Royal LePage Web site at www.royallepage.ca, and current
# M, \" j: N+ t. Jfigures will be updated following the end of the third quarter. A printable, Z6 _( b/ r3 q* Y- w, V8 o5 t, Y
version of the third quarter 2006 survey will be available online on6 l# ~3 o3 b2 O: g0 P5 b5 X3 i0 k
November 15, 2006.
  q" a" |4 g$ x. t- Y    Housing values in the Royal LePage Survey are Royal LePage opinions of
- r  A1 R2 L: n9 h3 ?2 Tfair market value in each location, based on local data and market knowledge: l: p4 b3 a: l( u
provided by Royal LePage residential real estate experts. Historical data is9 V+ H  N1 h% b- Q5 P0 o) F3 C4 J
available for some areas back to the early 1970s.
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