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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 * x6 w3 W3 K" ]0 o0 }: p6 S
- H  x8 b7 k- _: C, W
- Country's market poised to show growth throughout 2006 -
4 _. {: |/ K  m( W9 J8 l5 m4 \# A% u: _  Y. n  {
    TORONTO, Sept. 28 /CNW/ - For most of Canada, the housing market; P$ u% i5 \, K) ?1 J. a
exhibited moderate price increases and stable unit sales during the third
4 y  @9 M1 Q# cquarter. Wide regional variances continued to be the dominant characteristic$ T/ c) Z1 j, S. I! s
in the market, exemplified by frenzied levels of activity and double digit
! [' z! G+ h$ ?" w% }' A0 {price gains observed in the energy and commodity rich Western provinces, and; R, l% ?  m6 k% c7 j; V- A' _
more reasonable sales volumes and moderate price appreciation in Ontario,; D& S; D4 C+ Y( Y  [# k1 o/ k
Quebec and Atlantic Canada, according to a report released today by Royal' q. }! d9 M4 H6 x! e) L, P9 l) i
LePage Real Estate Services.1 \5 a- ^4 h% n- O' g9 P/ w7 ?

6 b3 _1 t' F& i' ?9 q  V    Nationally, market trends established through the first three quarters3 W, ~* t+ v! y. V+ y0 O" w* w
are forecast to continue for the remainder of the year. Robust economic
+ g9 @: |8 ]# ?, Z' H) @conditions, low unemployment rates, modestly growing salaries and wages, and  S" V/ a# \. }; r; {- B
sound consumer confidence contributed to the overall strength of the
5 S+ u) x2 ?$ z' ^7 O% W# Cresidential real estate sector.
6 q. A, I5 {8 v  z8 k, a
- s1 P* J3 K& A6 ?. ~    Of the housing types surveyed, the highest average price appreciation3 ~7 C8 A' }' |4 c2 J: u( o
occurred in detached bungalows, which rose to $300,365 (+16.3%)) x7 {- c3 e4 ^# V  B+ k7 K; e% b
year-over-year, followed by standard condominiums, which rose to $211,5624 S) r* d/ M/ H5 j3 J0 |1 p% h
(+14.2%), and standard two-storey properties, which increased to $365,380
3 x8 N3 c4 V) B: g4 P: D; I; w(+13.2%).* @# ?- j" @7 n( \
/ s: Z: [6 {" x+ t0 e
    "Canada's sturdy housing market continued to demonstrate steady growth+ S* q0 S* \& h/ U8 [
during the third quarter. For all but the west, we have moved on from the2 r: t4 n  v: |. L+ g
frenzied expansion that characterized the first half of this decade, and are- N0 T+ `# h  G  m" A" b1 L
poised to show continued growth at a more moderate pace," said Phil Soper,
* ]  v) m7 K1 Apresident and chief executive officer, Royal LePage Real Estate Services., z' ~4 J- {; l- z- H, A. r
"Gone is the sellers' market that we have lived with for some years. We' N& ^* @: S% N  N4 ?! Y1 d
welcome the more reliable conditions that are characteristic of a healthy
. u: L- z: u- S) {0 tbalanced market."
' N% t: \. L  V; f; c% b$ t1 E4 ]! R% D' L
    Despite the double-digit rise in average national house prices,7 C6 o! z3 P2 n
considerable regional variances were exhibited again this quarter. The shift$ h; W" `& v" x. d9 k1 }
to balanced market conditions, which began in late 2005, has continued
2 z" `' l; q2 Z" a" ]! M, h3 Q$ Hthroughout most of the Central and Eastern regions of the country. In the core
0 \0 k4 _% V% x9 p8 Renergy producing western provinces, the combination of very high in-migration,: a3 p$ G8 p: ^7 h
manageable affordability, and a shortage of inventory has driven record4 H' O/ N# i+ N/ H
breaking price appreciations.4 s1 |1 i* z8 \7 ?1 T5 h# f

/ Q& f8 U5 g, A2 W& A! x    Echoing the second quarter and supported by Alberta's rapidly expanding: M$ l9 Z: Z, D( E" r. J7 s
economy, Calgary and Edmonton led the charge of Canadian cities with the
9 O; a5 s* F8 A1 ^3 l( W9 |largest house price appreciation in all housing types surveyed.
% H: m- ~( z, ~$ [. v' H4 E6 C& w4 g  D
    In Ottawa and Toronto, growth remained steady, supported by solid" y+ }6 A# ^0 c( d2 z% r
economic fundamentals, an increase in available inventory and strong consumer
5 b7 j3 Y3 l6 h( X. v4 N# G0 [confidence. While the pace of price appreciation in Ontario leveled off
: y  D( J! L+ N2 q: r8 s" O$ n, Kslightly, the province's real estate market remains poised for modest growth.
* |6 L7 ~) R6 h7 _& x+ @In Atlantic Canada, new housing and condominium construction offered buyers! @& S! P: g6 u: Z3 M: R; ?
greater selection at more competitive prices, resulting in a slower rate of; I, ?5 I3 ~  _
price appreciation when compared with 2005./ m- m0 d! l& c+ i
4 J4 v, P- A( l1 O
    While the pace of growth in Canada has slowed, the domestic housing
# [; M8 v6 j  h0 {8 a" h( R7 M2 Dmarket is expected to outperform the American market. The economic and
1 K5 F- P4 p7 Y$ a/ Pfinancial fundamentals driving the residential real estate sector in Canada
: _, I7 E: D, L. Ware markedly different than those found in the United States.
0 G$ n+ i& E; ^# O
# W4 t: G7 _4 S  K, R9 g& D8 Y    Added Soper: "Canada's housing market is likely to outperform the+ F: i6 U8 s% y
American market through 2007. A number of factors are working in Canada's
: k, k7 ^! z8 E" Y4 Ifavour, including healthy personal and governmental debt levels, the+ M3 e8 q' K7 A
relatively modest rise in interest rates in our country, and general
' R" {, _/ O3 O! T- [# T0 maffordability in our major cities. In addition, Americans are now seeing the3 X7 {5 M" Q* u" M0 S
downside of a tax system that encourages maximum homeowner leverage, and( r8 ]8 J. t- [6 x
aggressive financial products such as zero- and negative-amortization
# u6 l8 A3 X- y! P6 K: z: Lmortgages that work only in a high price growth environment."4 j" l7 K$ i- R; ?; q: T

0 F# O  F, {0 D( ~    <<% [" ~9 F# j6 g9 W2 z( S$ O
                             REGIONAL SUMMARIES
8 X9 R+ S  }; ?8 [' `5 e    >>7 u" [1 M) w7 g2 S* q6 Y# z5 j

/ Y1 g9 f7 c" o; Z, |/ I% c    Balanced conditions continued to characterize the housing market in. K5 m& k  Y( p! r5 T2 ]; b2 \: n
Halifax, as significantly higher inventory levels helped to moderate the rate7 B. g5 ~6 e* a0 G* L- V
of price appreciation. Buyers were increasingly choosy, taking more time
3 |( |# M) M1 J) e9 H; olooking for newer, low-maintenance properties that were not in need of
8 }7 ~0 A. w* _renovations.3 f; s! C) g3 A  J" i- t
; a% k6 m& [. w; \
    The housing market in Moncton remained healthy and strong as a slight
: c  u* o2 P* x* kincrease in inventory helped to moderate the rate of price appreciation
; ]/ ^+ S* g0 Hcompared to the same period in 2005. Activity was brisk throughout August and
% N. j9 `# h3 e; N' }: w4 k3 ]September and is expected to remain this way through the fourth quarter.
7 Y. l9 h( @) q4 p( p' e- S# X5 w8 H' e; C# j
    The housing market in Saint John underwent its traditional summer! g0 G6 q: l& ~8 ]! q
slowdown in the third quarter, with activity picking up towards the end of the
& q# E: c& n* t" R$ wquarter. The local economy continued to thrive, as construction on a new% Y4 @# v4 A& G. d& v! y2 T
600,000 square-foot shopping area has begun, bringing several new box stores
# }5 {9 g% e% Fto the area. Buyers have begun seeking less expensive fixtures for their homes* i' |- F4 |2 v# }) N  d& q, }* f
and are instead opting for more affordable housing options.
$ a0 b" O/ z* t% W/ R) J/ f% |, Y8 }( T- B
    In Charlottetown, the housing market started to move towards balanced# P1 ?! I* z1 v8 ]8 M
conditions, as some sellers had to begin to lower the asking prices on their
1 A4 Q7 m9 Z( ?. H" b) c/ N0 shomes to make them more competitive. Activity from out-of-town and US buyers4 y' U) M8 X: N3 O
was down slightly compared to 2005, likely attributable to the strong Canadian: ]9 y9 k' A. Z/ c+ A9 e: `# i
dollar. Inventory levels began to creep up in the third quarter, providing( k' g) \5 h1 _8 U. R0 K, z
buyers with more options when looking for a home.9 a$ R4 V: Q3 R" q% b# H

) i- f5 p0 w5 e5 o+ v4 _! e    Activity in St. John's slowed slightly in the third quarter, particularly
* O1 X3 g' m/ k7 ?: namong higher-priced properties, where there was a slight over-supply of homes6 }0 h# c5 m) R) H, E9 t
priced over $200,000. Listing periods have increased when compared with 2005,7 x0 ^' N8 A+ {1 L
as some of the pent-up demand that had characterized the market over the last
% V  P/ P; z" C: vfew years has been satisfied, resulting in more normal, balanced conditions.
9 v( |6 E- h5 \: Z& L
& X  I, U- f' o4 C* E2 k    Montreal's housing market recorded modest increases in average house% T5 J+ X% Q" M* ~+ G
prices, due to a slight seasonal slowdown in the third quarter as inventory
" y* s2 r# ~) g5 J1 ilevels rose. Part of this can be attributed to the fact that many renting1 Y* G& N; t6 i, }$ s" E( d
first-time buyers were motivated to close on the purchase of a home by July 1,7 ~/ _4 K* D; C+ v
when rental leases expire in Quebec. Once this date has passed some of the" w/ J+ B$ ~  q: X. P, P. j
pressure is taken off the market, allowing buyers to visit more homes before
5 h2 ?1 _6 K. @* J  Mmaking a purchase.
3 [  v8 B1 X8 M$ g3 y
( Z0 x" ~1 T: Z/ g  K2 D    Ottawa held its position as one of the country's most stable housing
" C& I' u' g' @  p1 S# vmarkets in the third quarter, reinforced by a vibrant local economy and strong
1 S9 y; S3 _9 x9 n; g/ f/ L% Econfidence, resulting in modest increases in average house prices. The city
$ B, R" b" b! E- g- ucentre remained a bright spot in Ottawa, with homes in this area attracting
* y% ^3 [" q, S$ l8 A* oattention due to their convenient location and proximity to downtown8 v8 }' t" n1 g  Y- ]1 }8 X
amenities.* |* M- j9 [  c& R+ H3 h/ C; q5 y: b
) f' }. @8 ^5 g
    The housing market in Toronto sustained healthy activity levels5 r6 |$ q1 P  ]' H  W4 o
throughout the third quarter, as a strong economy helped to maintain demand
8 l0 m9 c1 [) T7 }across the city, causing average house prices to rise moderately. Toronto has/ v- s! u0 D4 q% v! J' E' r# r! @
continued to experience modest growth in average house prices, and has been
3 a: N: B6 x% ^driven primarily by purchasers who are buying homes as their principle# M5 M4 F, Q9 W7 d0 o9 E
residence, rather than for investment.
5 m5 {  ]" L$ k; M0 |  j- |% }2 ]0 E
% S0 K' k* X, a0 z1 D/ V    The vibrant Winnipeg housing market continued to show its strength as
" x: j2 j6 r( s1 phouse prices rose during the third quarter. The booming local economy resulted5 G0 g/ P4 U. A+ F
in a historically low unemployment rate, helping to bolster consumer
0 r9 m3 ~0 C' ]confidence and Winnipeg's ranking as the city with the lowest capitalization
7 m. N! O6 g2 |1 R; Vrate among the country's larger cities - helped to encourage buyers to enter7 i9 A9 M- T& p7 Z8 l
the market.. y8 i# I$ H# K

6 y1 o/ N6 O" C7 T    In Regina, the market experienced a slight seasonal slowdown through4 q$ M, K9 D- u" m) B
July, as there were fewer purchasers in the market due to summer vacations. In
6 H0 y. y- X8 j/ vAugust, activity resumed to the busy pace previously seen in the spring# U# `: b( N2 j/ H/ S4 v
months, as the influx of purchasers made it more difficult to find a home due& w. f  [- o7 _( M3 p2 n
to the shortage of available inventory." T5 I0 s: `, ]& T9 ~8 l; p
9 }2 R: ^+ k3 G& T" u
    Activity in Saskatoon remained brisk as the market maintained its
  s7 \5 @+ x7 F# ~: }$ Q; c. bmomentum from the busy spring sales period. The economy in Saskatoon remains% z. X( l  l0 e9 e/ y
vibrant, as employment opportunities are abundant with many businesses
) a% s3 Y1 {$ I. rstruggling to make hires and having to recruit outside the province.9 a  A/ e: g- e

- Q1 D6 [9 w! U! v* k6 M    Calgary's housing market recorded blazing average house price increases$ d$ j+ C+ }' q* f  X) S
in the third quarter, in all surveyed categories. The burgeoning economy, low" {2 L2 B- r( E' [! s7 l
unemployment rates and low inventory levels remained the leading factors that
! n+ ~$ p) i* Y4 r/ ~pressured Calgary's house prices upwards. However, regardless of the soaring+ l6 e: R  f3 O5 b4 @
prices that characterized the market - even during the typically slower summer
  G1 i% Z5 e+ n/ O2 ], Q( t$ hseason - it is expected that activity will become slightly more balanced, as3 n; E* B7 K7 `2 |  u, G1 P* y
buyers are becoming more reluctant to participate in the frenetic activity.
8 k3 R6 g! ]) ]
1 x8 j2 c& Y7 j- H
    Edmonton's booming local economy continued to thrive in the third quarter
2 l' V: g- L+ S7 Aas activity in the oil sands north of the city continued to flourish. Edmonton, X" D3 k4 Q" o* C* Y- d
remained the hub of activity for those coming to work in the oil industry,
" a7 H) F* G5 o: D! dmaintaining tight inventory levels across the city, resulting in prices" |) I! K  a( P( q
increasing at record levels. However, as inventory levels continued to improve
0 t* Q9 x+ F; L$ Y# p" O; Sin the third quarter the rate of price appreciation should moderate slightly
6 U3 y% w& Y( F7 e' m1 ptowards the end of 2006.
   
8 r9 t$ r$ Q2 w. j
( D* k4 ?" M- h9 l4 aWhile Vancouver has seen a slight reprieve from the severe shortage of3 X  f- U8 ]" c0 H, z
inventory that had previously characterized the market, supply is still unable& y5 Y! w8 F! n- C1 F% Y
to meet demand, driving house prices upwards. Vancouver has a very diverse) Q6 U( _& l& S4 G
group of active buyers - from first-time home buyers to baby-boomers to/ `! q9 e7 C* I9 @" p
foreign investors - all of whom fuel the demand for houses, placing added0 V; z3 p& `7 ]1 H
pressure on tight inventory levels.. D, x* x2 c( R+ H& F8 M, R3 X
* B2 U+ f! a$ A' l% h2 S
    Victoria's market is vibrant and supported by strong economic
# C- }8 \+ T' `; c1 |! S: H! `fundamentals, fuelled by a booming tech sector and a migration of young people
( w3 c& d' r5 C' T5 U: ^9 ]0 I2 Dinto the city that has continued to support the area's house price increases;
" e2 U: J! d- G- [/ X8 vwhile increased inventory levels have afforded buyers more time when searching  k$ b$ M, ~9 A  A% N
for a home, helping to normalize the market's pace.$ h3 k( I! k: f
# z$ i7 B: I* k0 H  f3 z; I6 F6 W6 [
    <<
2 K6 A4 V( N/ U- ]  s      Survey of Canadian Average House Prices in the Third Quarter 2006! Z' v& P/ D4 g% m
3 {% J3 d! i( ~4 D& @4 M: }; t* q
    -------------------------------------------------------------------------9 _1 J0 k7 e) B) J2 M0 k
                 Detached Bungalows                Standard Two Storey
# a0 J9 }2 F. R; n6 g    -------------------------------------------------------------------------* K- K4 S% V8 t" y
                     2006 Q3     2005 Q3    Bungalow     2006 Q3     2005 Q3
5 u# l# }. L# D    Market           Average     Average    % Change     Average     Average6 P) X# u. e/ h: _
    -------------------------------------------------------------------------
9 w& s4 x; y8 X- }, H- T+ h    Halifax          186,333     173,333        7.5%     198,667     199,000
5 }! |& g" H/ Z) u% T    -------------------------------------------------------------------------7 T( Z% }- g4 t/ {5 T% f
    Charlottetown    145,000     141,000        2.8%     175,000     170,000
& T$ Y0 W; z  `, G; a! t    -------------------------------------------------------------------------
* D5 g( a4 ~& n1 h$ d    Moncton          135,000     127,000        6.3%     129,000     123,000' @0 W7 _; v  s/ j% T$ C4 E
    -------------------------------------------------------------------------
$ v# v- g1 C( Q3 D. ^3 R9 w    Saint John       141,200     142,900       -1.2%           -           -9 y# w* u  j) f& [& ?& H5 M- G
    -------------------------------------------------------------------------4 s1 a& e9 Y; {6 Z4 l" ~. |
    St. John's       143,667     142,667        0.7%     200,667     202,333; W1 a0 t" z1 U8 _7 _$ s
    -------------------------------------------------------------------------" s$ B6 Z3 B, q( r0 d' H2 @4 \
    Atlantic         150,240     145,380        3.3%     175,833     173,583
- _6 n' ^1 d' F- \" L    -------------------------------------------------------------------------
" e2 N8 {( Q% O# v) [1 r" `& I& G, n" _$ m  L    Montreal         213,691     203,500        5.0%     321,141     316,185
2 U$ ]$ p3 s4 I, B0 v' J+ f    -------------------------------------------------------------------------
- q$ j0 S- l# s  T( h    Ottawa           290,083     278,417        4.2%     285,667     273,250: v. u& E  o# V* I. d/ u( H+ s2 w
    -------------------------------------------------------------------------
! ?1 x9 F, h& R+ T9 q    Toronto          373,368     355,882        4.9%     481,523     474,7666 u+ r6 v  o- ~; `0 e3 C' p" \- j
    -------------------------------------------------------------------------7 H; f; ]- ]+ f5 f, \0 @
    Winnipeg         181,579     159,860       13.6%     202,337     180,707: h  K: I7 a! _# S5 b
    -------------------------------------------------------------------------( S! v3 C& @% a6 ]1 N* T/ k7 Y& w
    Saskatchewan     170,667     156,083        9.3%     182,600     166,500
& d# `6 B/ T. `6 r    -------------------------------------------------------------------------
. x3 h4 J* R: ~8 \    Calgary          395,067     252,411       56.5%     405,778     264,389
; c7 a: [0 F5 ^  u    -------------------------------------------------------------------------
: K$ b9 ^. ?- Z1 Y4 V; b5 Z    Edmonton         286,857     194,857       47.2%     316,429     206,714
0 B' V3 X8 k! o6 w    -------------------------------------------------------------------------
/ T8 M' Q7 b6 [( Q& P, `# {    Vancouver        704,250     601,000       17.2%     794,000     697,500
4 N' c1 V3 Z! ^. S" Y    -------------------------------------------------------------------------' C! Q; }9 a8 C
    Victoria         375,000     348,000        7.8%     403,000     391,000. n- V, B2 x, u
    -------------------------------------------------------------------------! x& {0 S% p3 L0 w" j! u3 r! N
    National         300,365     258,202       16.3%     365,380     322,860  c4 V( e; W( U; m# d
    -------------------------------------------------------------------------' o8 K' @% d, l: M! ]* e' }

# e& X' v+ x& a2 Z: d    -------------------------------------------------------------% c: X% v8 Q( ~  F
                               Standard Condominium
" D2 T: i* o% y9 K3 G8 n: z    -------------------------------------------------------------
6 l" I% @! S/ w; k                    2-Storey     2006 Q3     2005 Q3       Condo* r- H1 \& A: |& S/ y
    Market          % Change     Average     Average    % Change
! r8 [" P- m' E6 `1 }    -------------------------------------------------------------
1 g# ?# ?1 G3 z2 s. u% T6 e+ B    Halifax            -0.2%     142,000     103,000       37.9%
) C9 H0 N- b5 v' z( t' N( Q    -------------------------------------------------------------) P+ ^" \7 p2 A3 S% I& O$ Q$ d
    Charlottetown       2.9%      98,000      98,000        0.0%
- c' V- p" V2 w, N: l1 J' [    -------------------------------------------------------------
8 @0 Y0 W4 b+ w, ^3 G; O    Moncton             4.9%           -           -         N/A
8 v% n% p$ U/ Q    -------------------------------------------------------------
3 S$ D$ ^) @' ~  q; z9 G6 }    Saint John           N/A           -           -         N/A! S& n9 f( c- m9 y7 r5 c
    -------------------------------------------------------------
; T* [% E( x6 S    St. John's         -0.8%     146,333     145,667        0.5%
+ ?; w$ F3 T& K+ m6 r    -------------------------------------------------------------9 ]( b, b' h; l: h: j6 y
    Atlantic            1.3%     128,778     115,556       11.4%
8 U& i3 h; C* ?% L    -------------------------------------------------------------
& l" `; z! U& g/ ^1 L' L& w    Montreal            1.6%     193,190     188,016        2.8%
; N6 C. E; G+ J! G) u    -------------------------------------------------------------
5 J+ v$ G- M% B6 j0 z3 Y. e% I    Ottawa              4.5%     181,083     172,250        5.1%
! R! H, O8 m# L" r+ W    -------------------------------------------------------------
/ k! f6 j( K! O  X1 J    Toronto             1.4%     252,088     242,918        3.8%9 A" Q# ?% ~5 b( `# z3 A
    -------------------------------------------------------------
- ?8 z9 F) _! x9 m0 m4 Z    Winnipeg           12.0%     105,648      96,008       10.0%. b* ]" @, ~$ u
    -------------------------------------------------------------
. T. B8 M- f+ f7 _$ Z# q4 R    Saskatchewan        9.7%     106,250     101,000        5.2%5 s1 R" a5 e2 j
    -------------------------------------------------------------
) b" [; J. E4 j    Calgary            53.5%     245,844     153,867       59.8%" n* L' k4 S7 D% D
    -------------------------------------------------------------
+ [: }% C  ^* \+ ]- v9 S0 `) v' v    Edmonton           53.1%     200,433     131,500       52.4%/ d' O9 b. v$ ]% X: [4 [8 M) {
    -------------------------------------------------------------) z$ `4 d, T6 c+ K
    Vancouver          13.8%     366,250     323,250       13.3%/ y1 J0 ~. @! a& A5 ~$ C
    -------------------------------------------------------------
" g' i% b7 u" I8 E* g+ C6 e    Victoria            3.1%     229,000     220,000        4.1%% S% @; l' [, P& Y
    -------------------------------------------------------------
# F% A: u- F0 _  {# O    National           13.2%     211,562     185,296       14.2%# T& N( M# X$ J& c8 ^3 a
    -------------------------------------------------------------6 U/ m( I0 F% V
    >>: E7 z$ Z( j$ o9 E8 N( m6 A

' f6 M, n0 ~/ R    Average house prices are based on an average of all sub-markets examined' y  U1 C' O! ^) c. A" ?
in the area, except for the smaller markets of Charlottetown, Moncton, Saint: n3 K2 ]9 d% E; L- a- `
John and Victoria./ `7 ^! X1 w* n, Y& o
4 V: c) _. R( O$ L
    The Royal LePage Survey of Canadian House Prices is the largest, most0 r$ S/ U( s3 V' t
comprehensive study of its kind in Canada, with information on seven types of
6 N9 ]' O; B8 e3 Q" q7 V4 p& ihousing in over 250 neighbourhoods from coast to coast. This release/ l# A: n/ O- v  v: K5 E  k
references an abbreviated version of the survey, which highlights house price. u* `: A. O( d  m/ k; Z% j
trends for the three most common types of housing in Canada in 80 communities! n" l) x- \) U. w9 K, A* s) P
across the country. A complete database of past and present surveys is
  h/ R# V+ m9 l, H, `# ~2 @available on the Royal LePage Web site at www.royallepage.ca, and current' R1 A+ Z  q( S3 K) h: I9 M
figures will be updated following the end of the third quarter. A printable( D& g6 @5 K. q
version of the third quarter 2006 survey will be available online on
4 j1 D& j% b/ x: t: eNovember 15, 2006.) C4 z. Z& W& F9 ?
    Housing values in the Royal LePage Survey are Royal LePage opinions of% P) ]$ y$ V1 W6 e6 N
fair market value in each location, based on local data and market knowledge
9 n& j( f: S2 l; ]% P6 @+ mprovided by Royal LePage residential real estate experts. Historical data is
' U. ]- P/ q( }; W% [" savailable for some areas back to the early 1970s.
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