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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 8 n( v. \7 S0 l) _+ E

4 m- }) `6 V3 m) ]+ D' X' n- Country's market poised to show growth throughout 2006 -
2 t4 ?8 j" p/ O: C+ @! v$ j4 _& v; ^; h' ~' W% t3 V
    TORONTO, Sept. 28 /CNW/ - For most of Canada, the housing market
7 m+ Z7 L7 s4 K* c. K4 |exhibited moderate price increases and stable unit sales during the third5 K+ F4 r3 l* S  D0 @
quarter. Wide regional variances continued to be the dominant characteristic9 m3 [# e+ j4 l- H. ?7 P7 K
in the market, exemplified by frenzied levels of activity and double digit
. @' U' J- s: a6 r2 {  `$ {price gains observed in the energy and commodity rich Western provinces, and
4 k; Q" H* _* i# ^2 R4 M1 lmore reasonable sales volumes and moderate price appreciation in Ontario,2 C- H+ S" O2 F: L0 f) _/ r1 r
Quebec and Atlantic Canada, according to a report released today by Royal
7 ^* n' F2 e5 oLePage Real Estate Services.
7 w# S, [7 V2 m8 A& C, a/ Y4 W! D% f/ d. l4 ~' [( s
    Nationally, market trends established through the first three quarters7 U- X' |6 Z% W( K2 i
are forecast to continue for the remainder of the year. Robust economic
6 I" m6 g0 L9 F( M8 Aconditions, low unemployment rates, modestly growing salaries and wages, and
% a$ V9 z/ v: ^) X* z) e) isound consumer confidence contributed to the overall strength of the
7 M/ z/ ~6 O/ x3 L4 r! Y9 o) jresidential real estate sector.
' m+ n2 V( j  e! r
* i  |" z& W0 ^6 E5 f+ K    Of the housing types surveyed, the highest average price appreciation3 G9 K! I( q# m* P6 L5 |4 B  g8 f
occurred in detached bungalows, which rose to $300,365 (+16.3%)
; W* B2 B1 a0 g6 }4 E1 fyear-over-year, followed by standard condominiums, which rose to $211,562/ l! O5 N* P, w6 k' q9 v; }5 s
(+14.2%), and standard two-storey properties, which increased to $365,380
- S  B& ~( R9 u  L2 ]" ](+13.2%).' B, F* o2 C# o( L! |+ }4 W: v4 c
! p! l9 Q- G  y1 B/ Z5 A- s1 P
    "Canada's sturdy housing market continued to demonstrate steady growth
6 k2 c+ s7 ~3 u! j9 N  z% R& Jduring the third quarter. For all but the west, we have moved on from the9 h3 H2 D; V0 p/ e
frenzied expansion that characterized the first half of this decade, and are
% H. F: N4 m: S% G* o! opoised to show continued growth at a more moderate pace," said Phil Soper,
" I) N9 J  {- t3 B4 P7 H! q) J2 Cpresident and chief executive officer, Royal LePage Real Estate Services.
% t, F* f0 ^; N* ^: N1 M. g"Gone is the sellers' market that we have lived with for some years. We
6 Q1 y9 M" {5 u- j; H, m0 |welcome the more reliable conditions that are characteristic of a healthy
5 d6 r) ^* a& ~. v9 Z9 r, obalanced market."
( f6 Y; k+ I0 s7 }( i) b
5 d; b* t" k8 ^! L1 h1 J    Despite the double-digit rise in average national house prices,
  M+ j: q/ w/ l4 L: pconsiderable regional variances were exhibited again this quarter. The shift. S) u2 B: t! V# B0 N% F) Q
to balanced market conditions, which began in late 2005, has continued
2 o5 J% R! M; F7 [throughout most of the Central and Eastern regions of the country. In the core
9 U5 n$ _0 u/ V4 Renergy producing western provinces, the combination of very high in-migration,
0 ^1 G/ z) J! K" A$ x0 A; i6 dmanageable affordability, and a shortage of inventory has driven record2 m/ G" n# K2 I" {0 @+ N9 `' @0 h8 }) o
breaking price appreciations.
1 m2 V; |) T3 i; [; c( j: m* ]4 {' Y+ z
    Echoing the second quarter and supported by Alberta's rapidly expanding: U, J, [4 z$ i" a' q
economy, Calgary and Edmonton led the charge of Canadian cities with the
  z! [7 |+ J1 H) ]largest house price appreciation in all housing types surveyed.
$ w9 x: C4 j1 R# f) d: ?% @1 j6 j3 k" L" l5 B( U% v
    In Ottawa and Toronto, growth remained steady, supported by solid
1 u6 P9 f# c: V$ G% R3 {- _economic fundamentals, an increase in available inventory and strong consumer( D) j8 g/ b* V; p
confidence. While the pace of price appreciation in Ontario leveled off
1 R" B1 _2 E9 o9 U9 Pslightly, the province's real estate market remains poised for modest growth.2 B7 a+ i; s3 N. @) l# k9 H
In Atlantic Canada, new housing and condominium construction offered buyers
# `% O: q0 X0 r' J2 ogreater selection at more competitive prices, resulting in a slower rate of( `6 v0 F/ u- U+ I* @' m
price appreciation when compared with 2005.( T$ \9 ]1 f. n3 X
( {" g7 w; E. k. f- ]3 ]
    While the pace of growth in Canada has slowed, the domestic housing) c$ h- A+ [9 [0 n8 s! _
market is expected to outperform the American market. The economic and$ W7 s: Y) q3 B4 P% g# F8 m
financial fundamentals driving the residential real estate sector in Canada1 `9 [/ `* p* W& T1 r1 J3 I0 C
are markedly different than those found in the United States.
! c5 o- u- x& I1 W4 _, T8 {' Z$ E1 o2 G# T# z  S
    Added Soper: "Canada's housing market is likely to outperform the
+ t/ I7 Z2 x' P3 {( I+ \( ~American market through 2007. A number of factors are working in Canada's
2 x4 U" H3 O4 ifavour, including healthy personal and governmental debt levels, the
7 n5 X2 J2 k' W: O. |6 @relatively modest rise in interest rates in our country, and general% s8 S( H; L3 }' k( q# G+ |
affordability in our major cities. In addition, Americans are now seeing the, Q  g& b! n8 ^
downside of a tax system that encourages maximum homeowner leverage, and
/ l3 b3 e7 k- X! d) x3 Uaggressive financial products such as zero- and negative-amortization# J' [1 \  R8 M3 T0 Y% W
mortgages that work only in a high price growth environment."4 ^1 e; s5 @  O% S

$ s0 a5 `% N! y    <<5 k( Q) t: J: n# o
                             REGIONAL SUMMARIES  l) a& @; l  `* G5 S* m
    >>
; _0 M8 M6 C* T  V, s2 S' U6 Y6 \3 V  u0 j* l# \
    Balanced conditions continued to characterize the housing market in
* P* d+ H, Y# V& U' m) |Halifax, as significantly higher inventory levels helped to moderate the rate. M5 j+ a& x' a! u
of price appreciation. Buyers were increasingly choosy, taking more time/ ?9 Z/ F5 z. s1 L0 Z- G; j
looking for newer, low-maintenance properties that were not in need of
$ y" R) x3 u' Drenovations.
( v7 f3 n+ g' U: b3 S$ ?( g8 Y# Y3 I" L) j
    The housing market in Moncton remained healthy and strong as a slight
9 g2 z6 Y& {/ C9 {8 lincrease in inventory helped to moderate the rate of price appreciation  D! b" _% |& p+ C
compared to the same period in 2005. Activity was brisk throughout August and: q* M4 K; N5 @' _9 y
September and is expected to remain this way through the fourth quarter.
8 S: s8 v0 @1 @. a/ `1 ^2 B0 E6 z' {( b3 {0 I
    The housing market in Saint John underwent its traditional summer
( K/ R  W* _5 B+ wslowdown in the third quarter, with activity picking up towards the end of the
8 y0 `+ G" P2 h. s: d/ Vquarter. The local economy continued to thrive, as construction on a new
, K* Y! r7 ]" S. y600,000 square-foot shopping area has begun, bringing several new box stores  T, @4 B4 A) r5 f+ b  U) P
to the area. Buyers have begun seeking less expensive fixtures for their homes  ?' Q. ~) n6 V/ Z# g! P
and are instead opting for more affordable housing options.9 n: d7 a1 `  D6 H, B6 A

- R* X! a/ H2 T3 Q& k2 Z    In Charlottetown, the housing market started to move towards balanced% r  ?) A) _  K" t2 `" y% k
conditions, as some sellers had to begin to lower the asking prices on their. q) q/ g: C, |2 n8 f, W9 y  y
homes to make them more competitive. Activity from out-of-town and US buyers4 b+ [* p$ a: h8 K
was down slightly compared to 2005, likely attributable to the strong Canadian
  m) v5 m; }2 g5 M4 D* R( H: wdollar. Inventory levels began to creep up in the third quarter, providing
  N) Q" N4 h, _/ A  E% J$ B8 sbuyers with more options when looking for a home.% C# W% z& Y7 c+ Q4 q; t
( w0 n* Z% d, a  L3 ^
    Activity in St. John's slowed slightly in the third quarter, particularly' w; C- E0 L( F# B0 H' ]3 g
among higher-priced properties, where there was a slight over-supply of homes+ x8 q$ Q& ]7 s; H: r, Q* v
priced over $200,000. Listing periods have increased when compared with 2005,  Q/ L6 f/ Q5 p- o# _
as some of the pent-up demand that had characterized the market over the last+ z/ `; G' L; d2 S) W4 ~
few years has been satisfied, resulting in more normal, balanced conditions.
9 j4 i5 B% B" L3 y3 `: ~
2 z$ I6 Y7 ^4 X  ~) o    Montreal's housing market recorded modest increases in average house+ @; C5 `, n* k: N; H# C4 c# k
prices, due to a slight seasonal slowdown in the third quarter as inventory  ?/ S( e! }1 |! M) C5 P$ M8 t
levels rose. Part of this can be attributed to the fact that many renting
: `6 U* i) {6 h7 E1 ]% c8 [first-time buyers were motivated to close on the purchase of a home by July 1,; y7 w% S7 y0 \1 n( {0 n/ _6 x
when rental leases expire in Quebec. Once this date has passed some of the& q! `$ R! s/ B% c/ M9 l3 w( K
pressure is taken off the market, allowing buyers to visit more homes before% I8 Y1 Q9 Y/ ?' J; @* U+ X. M: x
making a purchase.
2 c' i, ~4 y/ x- {! v$ z3 Q  L- z) z9 }% X* H" F4 ]
    Ottawa held its position as one of the country's most stable housing9 L/ Y  N! _/ W$ P' l' w
markets in the third quarter, reinforced by a vibrant local economy and strong5 P; j4 \' p$ `  n- h3 A
confidence, resulting in modest increases in average house prices. The city
9 T' p) L& p2 N; }3 R0 y- i5 Bcentre remained a bright spot in Ottawa, with homes in this area attracting' `( P2 u; W7 P3 W+ u9 p
attention due to their convenient location and proximity to downtown
( s4 P( H2 k  B4 _1 H: i! @amenities.9 B0 v5 H/ p4 w- B" t
; O+ P. V  U$ y# v! n( |" o9 B
    The housing market in Toronto sustained healthy activity levels- Y$ t2 @5 G' C
throughout the third quarter, as a strong economy helped to maintain demand
3 G) e1 z% R- K9 C  {' }across the city, causing average house prices to rise moderately. Toronto has" X7 h6 u! l2 E& W
continued to experience modest growth in average house prices, and has been
- n1 Z2 W6 a) d, a9 idriven primarily by purchasers who are buying homes as their principle  d8 n! _& S1 U6 H3 o# g
residence, rather than for investment.) _1 H; x) d% `# P! }/ _6 X6 c9 E

. S& X3 Q/ n, K) ?3 G    The vibrant Winnipeg housing market continued to show its strength as2 h" N" D. _* {; P% v" ^
house prices rose during the third quarter. The booming local economy resulted
. _" F, q8 A6 e- K: `in a historically low unemployment rate, helping to bolster consumer
1 c- w. E" p5 `5 sconfidence and Winnipeg's ranking as the city with the lowest capitalization% S$ k. k2 X4 |0 V
rate among the country's larger cities - helped to encourage buyers to enter1 |; C* j, e% y' A, E
the market.$ P& P0 C9 ^; J" t" H; r
, [4 B. {2 U$ G2 Y* J
    In Regina, the market experienced a slight seasonal slowdown through
! H0 Q3 `* K  n' i- iJuly, as there were fewer purchasers in the market due to summer vacations. In  L' y6 L* W# G0 I- V# ~8 S
August, activity resumed to the busy pace previously seen in the spring2 S+ y0 i* X2 t* ]3 J) |! G% ^+ |
months, as the influx of purchasers made it more difficult to find a home due
: I: D+ W6 H& t% X7 W( H9 D8 cto the shortage of available inventory.
, v! c3 O2 z. \1 ~+ P: O& [( W& [2 M& A* b$ ?# G
    Activity in Saskatoon remained brisk as the market maintained its- q) m. y- m* c( {/ e' _7 J
momentum from the busy spring sales period. The economy in Saskatoon remains# b9 C, X; l1 Q4 C
vibrant, as employment opportunities are abundant with many businesses/ }, G0 @1 |9 f, l+ u
struggling to make hires and having to recruit outside the province.. m8 Q4 n: w7 x1 K* a* [& W

$ D! n" p9 G/ ?6 o, F    Calgary's housing market recorded blazing average house price increases
0 _: L9 D) K2 l& h. b3 k9 i+ oin the third quarter, in all surveyed categories. The burgeoning economy, low' Z  n$ i5 n  _9 B1 J  X6 j) B
unemployment rates and low inventory levels remained the leading factors that
" v* D  z' H6 h* h! j( }& k' mpressured Calgary's house prices upwards. However, regardless of the soaring
1 g; q8 b& I' |; g% M% y( P3 ?$ Dprices that characterized the market - even during the typically slower summer! F" _0 k7 y% H3 g' S
season - it is expected that activity will become slightly more balanced, as/ J7 {3 h; Z4 x4 Z- P* v7 ?0 [3 y
buyers are becoming more reluctant to participate in the frenetic activity.
+ i8 Y5 h- Q% T; B  T& f" `

5 X. }4 M) z8 d% f" w, G  z    Edmonton's booming local economy continued to thrive in the third quarter
! P- b: M9 N3 @! b8 e* M% w: ias activity in the oil sands north of the city continued to flourish. Edmonton2 i) V( F. Y( W# Y; a! P
remained the hub of activity for those coming to work in the oil industry,( W7 @+ v' J2 L: q
maintaining tight inventory levels across the city, resulting in prices3 _, {% Z! b" N9 J- _
increasing at record levels. However, as inventory levels continued to improve
: O8 E8 t% T2 ?/ W# G7 zin the third quarter the rate of price appreciation should moderate slightly
$ O- y3 G8 K9 w0 W& X1 P. ftowards the end of 2006.
    / _0 @0 S# ]$ G& v/ I+ ]! v" \
$ ^' P( T1 Z6 ?) a" ~
While Vancouver has seen a slight reprieve from the severe shortage of
; x. @  W) r% ?$ q+ I- z( k, Ainventory that had previously characterized the market, supply is still unable
$ M- P2 }+ h7 U" O/ q0 \to meet demand, driving house prices upwards. Vancouver has a very diverse$ G; U: W6 V2 U- {: r5 X" V7 {
group of active buyers - from first-time home buyers to baby-boomers to. H/ ~# Y2 e1 W. y
foreign investors - all of whom fuel the demand for houses, placing added
% d% r* }4 l. P3 |( Npressure on tight inventory levels.
% S: B# `. c3 g' T$ w) P4 F
* I4 l+ P/ g% H9 M: h/ M" m# I' L0 V9 B    Victoria's market is vibrant and supported by strong economic$ d& c& N* V) U
fundamentals, fuelled by a booming tech sector and a migration of young people
! \- h  R2 Y) U: {) rinto the city that has continued to support the area's house price increases;- P+ s9 c) b3 R$ r* n
while increased inventory levels have afforded buyers more time when searching; p8 `( g' Z* S" f! K
for a home, helping to normalize the market's pace.6 Y$ Q9 U0 B( D5 l/ j6 N

5 I  O& M) G% ?+ o1 b7 u    <<2 e( J+ M/ D  S2 z  V% s8 q6 ?& _7 y
      Survey of Canadian Average House Prices in the Third Quarter 2006
* C8 ^; y' n$ K7 [1 m* j( Z/ @! [# H
    -------------------------------------------------------------------------. @3 a7 f. J$ \# [
                 Detached Bungalows                Standard Two Storey- {& T4 o1 M; z4 l; ]7 I, |
    -------------------------------------------------------------------------) Z' l' S! @" U' F+ c! d
                     2006 Q3     2005 Q3    Bungalow     2006 Q3     2005 Q3/ d0 N. n7 Z  R1 G4 U8 Q. R
    Market           Average     Average    % Change     Average     Average) p# r; d. Y  y! S
    -------------------------------------------------------------------------
, e$ {* k9 E2 j5 c    Halifax          186,333     173,333        7.5%     198,667     199,000
. F/ Q) a) X' ], @! S, G* p: A    -------------------------------------------------------------------------! j9 @4 v7 Z; n  y, Q2 I
    Charlottetown    145,000     141,000        2.8%     175,000     170,000
3 e* u' v, J0 Y1 o2 C' E9 c    -------------------------------------------------------------------------" f# W, E) |/ V8 p/ A
    Moncton          135,000     127,000        6.3%     129,000     123,000
% y1 g7 g" }( J* Z, ]  S2 T0 P    -------------------------------------------------------------------------
0 V! \9 L% _1 V  b    Saint John       141,200     142,900       -1.2%           -           -" j; Q+ ~5 h1 J! A- b' J
    -------------------------------------------------------------------------
, o5 g  _" F+ x) w/ N! Q    St. John's       143,667     142,667        0.7%     200,667     202,333
& O0 P  J+ v. {" c    -------------------------------------------------------------------------% v; o1 l$ i4 q7 Y; g
    Atlantic         150,240     145,380        3.3%     175,833     173,583+ }* L5 @. C6 Z6 }
    -------------------------------------------------------------------------
1 j( n6 P; V8 l2 J6 x    Montreal         213,691     203,500        5.0%     321,141     316,185
9 p7 Q7 Y# T+ a$ o6 X9 s1 y1 R    -------------------------------------------------------------------------
& w+ @6 u" c5 w9 {) T) V% ?- {    Ottawa           290,083     278,417        4.2%     285,667     273,250: F) e1 ~/ ]+ g& y% r+ ?* ?
    -------------------------------------------------------------------------
- L2 y* ^; G; D8 p0 U  C    Toronto          373,368     355,882        4.9%     481,523     474,766
2 M8 J* H0 u+ W" {" Q    -------------------------------------------------------------------------
' L- K, h3 P1 V+ s    Winnipeg         181,579     159,860       13.6%     202,337     180,707$ j0 A: y& j! O& h% ~. u0 K
    -------------------------------------------------------------------------) L3 b) {/ R' v  x! n8 j
    Saskatchewan     170,667     156,083        9.3%     182,600     166,500. u4 ]2 f  z2 S0 [
    -------------------------------------------------------------------------, O7 V" ^$ H) ~3 R2 e( E
    Calgary          395,067     252,411       56.5%     405,778     264,389
; v) W* z# I+ `' d0 ]  }    -------------------------------------------------------------------------
- ^/ j6 K6 Q  `4 a    Edmonton         286,857     194,857       47.2%     316,429     206,714
. @( f7 c; Y; p! v    -------------------------------------------------------------------------, P4 @! u  r' h6 k8 ^. V3 [
    Vancouver        704,250     601,000       17.2%     794,000     697,500
4 t+ K+ l+ [! I6 p- ?    -------------------------------------------------------------------------
9 g7 d( k+ f6 n, a4 H% [9 `    Victoria         375,000     348,000        7.8%     403,000     391,0002 i2 ]' }9 w% a. ?- W6 E
    -------------------------------------------------------------------------
  D' H2 a4 N2 X; f    National         300,365     258,202       16.3%     365,380     322,860
4 E- l; ?; p7 P3 W) n1 G    -------------------------------------------------------------------------
( H( F# q4 ]: A4 W, a
/ S! u* Y6 t. u    -------------------------------------------------------------
0 n/ F7 v7 ~5 v& S+ {( O                               Standard Condominium4 M; G/ @5 u  z! L" ]/ k- W
    -------------------------------------------------------------. e/ h* `7 s9 U# U4 L8 ]3 K
                    2-Storey     2006 Q3     2005 Q3       Condo# J4 i5 i4 F  s# s3 n4 D4 [% t
    Market          % Change     Average     Average    % Change
) h3 [7 m7 I) |4 o& g/ @5 P    -------------------------------------------------------------& E2 Y% J* |+ s+ b2 `
    Halifax            -0.2%     142,000     103,000       37.9%% u+ T" Y3 g9 K) i5 F
    -------------------------------------------------------------9 ?- I$ t" h6 l% |% S0 x
    Charlottetown       2.9%      98,000      98,000        0.0%) Q/ |" f4 e; z0 F+ w2 ^2 {
    -------------------------------------------------------------" Q% h6 H# C  s1 ?! ?1 x
    Moncton             4.9%           -           -         N/A* b( S, k4 _, D3 K
    -------------------------------------------------------------
3 _. B9 r3 j, e' b- m+ e    Saint John           N/A           -           -         N/A+ ^* P4 u0 b* D+ X( ?
    -------------------------------------------------------------/ B8 H* r% W, J8 R3 Q* H! x
    St. John's         -0.8%     146,333     145,667        0.5%! F8 f9 B( Q$ Y- j( Q. t9 H
    -------------------------------------------------------------- g5 |: b3 U# E- A4 a% T  V0 k" b3 t
    Atlantic            1.3%     128,778     115,556       11.4%
- t, ~3 |0 G* R) U    -------------------------------------------------------------
3 A1 {0 k) e) [# _" h1 b    Montreal            1.6%     193,190     188,016        2.8%
* k+ ~* P! k/ d* l& I- }9 w    -------------------------------------------------------------
% W- Z9 ]5 ?& e    Ottawa              4.5%     181,083     172,250        5.1%
; h2 e7 I% s# @    -------------------------------------------------------------* z( }0 v1 }0 r( R! E( K4 Z& ?; X
    Toronto             1.4%     252,088     242,918        3.8%
5 C( L9 a! w, ~8 h2 Y! H  J$ I    -------------------------------------------------------------' {! r$ u9 ?) k  p  H
    Winnipeg           12.0%     105,648      96,008       10.0%
9 K  P9 u8 j/ g( K/ W: @7 g    -------------------------------------------------------------) u. {% h, n0 c
    Saskatchewan        9.7%     106,250     101,000        5.2%7 u" C" E0 z1 O7 ]0 V
    -------------------------------------------------------------1 @  O: I1 h* P! i+ c
    Calgary            53.5%     245,844     153,867       59.8%
+ I. E- C4 i+ |1 A; W    -------------------------------------------------------------
5 J% l  X' h, B$ X5 o# Z: G    Edmonton           53.1%     200,433     131,500       52.4%  T6 S9 H! j6 j! ^% a
    -------------------------------------------------------------
, p+ O6 s% a9 A    Vancouver          13.8%     366,250     323,250       13.3%
) o+ O" e5 {4 L, ?4 _4 j    -------------------------------------------------------------
/ \9 d+ U: l9 Z: t1 R    Victoria            3.1%     229,000     220,000        4.1%1 c8 U5 o$ d; S
    -------------------------------------------------------------
0 o) k) L$ F2 n0 b$ c    National           13.2%     211,562     185,296       14.2%
6 R! R. s. s9 d" @3 S3 n    -------------------------------------------------------------
/ J" h8 X0 i' ?9 K4 }% w# i6 c    >>& U3 `3 U5 H! r- o3 v) h. C
! E( o. ^; Q/ v$ [( e( A
    Average house prices are based on an average of all sub-markets examined
6 {  d' f, O& zin the area, except for the smaller markets of Charlottetown, Moncton, Saint
1 L) L0 r0 V# G1 x) YJohn and Victoria.- H% Q/ W8 Z& W7 P% \7 `/ e
3 q- t, M, Y4 M) @; u
    The Royal LePage Survey of Canadian House Prices is the largest, most! @2 W( [' U) V
comprehensive study of its kind in Canada, with information on seven types of
2 d' ^. ?# d) |housing in over 250 neighbourhoods from coast to coast. This release: L1 ?6 ~8 v! |& [) w7 A
references an abbreviated version of the survey, which highlights house price
  Z0 \0 k2 D& m, k$ Ltrends for the three most common types of housing in Canada in 80 communities
- Q' l4 x" q3 s% uacross the country. A complete database of past and present surveys is
1 o0 ~( m" o3 P0 ]8 W) K, q9 Gavailable on the Royal LePage Web site at www.royallepage.ca, and current  K: \7 `) x* [" H, U- {8 d  W
figures will be updated following the end of the third quarter. A printable
5 e# N- u: }$ @7 T0 u, _version of the third quarter 2006 survey will be available online on  o: N6 x& a. P9 M6 b' u% X; p
November 15, 2006.3 c) i' H7 ^$ K& ]! o9 N
    Housing values in the Royal LePage Survey are Royal LePage opinions of
  w6 P. R- u% x3 A( @fair market value in each location, based on local data and market knowledge, C5 Y( P4 b# ]- a$ T3 A9 ^2 N
provided by Royal LePage residential real estate experts. Historical data is
, q# s1 k1 b  {: n) kavailable for some areas back to the early 1970s.
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