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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
) j& C- I$ W, O; ^3 B# e9 Q& D2 J: `% m3 }$ U% k& g' m# U
- Country's market poised to show growth throughout 2006 -
  {! C+ ^% N% ^- Y5 l0 I
9 Y& q- s% Z4 |) P7 |7 f: c    TORONTO, Sept. 28 /CNW/ - For most of Canada, the housing market
& q5 l9 b4 E+ g  }exhibited moderate price increases and stable unit sales during the third
  h' j1 s/ z8 l: Q9 Z: @0 [0 Z$ V  Cquarter. Wide regional variances continued to be the dominant characteristic. L; h4 e9 s7 {# U4 K
in the market, exemplified by frenzied levels of activity and double digit
7 X. v3 e" }& g! X: S* H) ?price gains observed in the energy and commodity rich Western provinces, and7 b) W( D& X: t% u/ M$ P7 U  N
more reasonable sales volumes and moderate price appreciation in Ontario,
- ~. H8 J' @+ X4 ]- b/ oQuebec and Atlantic Canada, according to a report released today by Royal
+ C: }$ P& m5 V/ @. w2 HLePage Real Estate Services.7 s& ^( g1 W  C( j. T$ Q

1 J9 `) l' _3 `/ C# |    Nationally, market trends established through the first three quarters
7 _5 e) F5 ]' ?' y1 \7 Gare forecast to continue for the remainder of the year. Robust economic# P" ~" [2 H; l4 J% \
conditions, low unemployment rates, modestly growing salaries and wages, and
: C( w) X& f- E' p! M8 ysound consumer confidence contributed to the overall strength of the' `" _2 A! x% s& a8 w- \6 A7 |
residential real estate sector.4 z: _% b8 k7 M  G
; r; v5 g, }) z
    Of the housing types surveyed, the highest average price appreciation
" }+ o  f- ^/ m) z+ r) Coccurred in detached bungalows, which rose to $300,365 (+16.3%)" M0 k% ?# A1 ~
year-over-year, followed by standard condominiums, which rose to $211,562
7 i7 i+ @1 m9 f8 Z' _. E( j1 b(+14.2%), and standard two-storey properties, which increased to $365,380
. _' A+ t, t6 i+ @3 h; ~/ [(+13.2%).3 e2 K* ?$ S; N! J

, |) ]7 L8 _6 E: w1 G) p6 C8 _    "Canada's sturdy housing market continued to demonstrate steady growth' L; {2 Z8 Y! A9 `0 u% X2 O8 b6 G
during the third quarter. For all but the west, we have moved on from the9 {) G" p. d7 x3 L
frenzied expansion that characterized the first half of this decade, and are* I& R7 X( @- H8 {
poised to show continued growth at a more moderate pace," said Phil Soper,
+ o- @. v8 h, ^( ypresident and chief executive officer, Royal LePage Real Estate Services.
7 D- S" u4 K6 P+ b"Gone is the sellers' market that we have lived with for some years. We& b5 F8 ?6 k+ G; F& y3 h
welcome the more reliable conditions that are characteristic of a healthy; p! X( e" K5 v5 T  \$ g
balanced market."( W3 C6 [1 x8 e  _0 n6 R" [

6 f! f3 P6 P+ u3 h    Despite the double-digit rise in average national house prices,2 J  v; I$ e- r; i4 L* Q, T$ O
considerable regional variances were exhibited again this quarter. The shift
5 d$ ?( O, t) M7 Fto balanced market conditions, which began in late 2005, has continued% `( c) N% k! @1 Q, O
throughout most of the Central and Eastern regions of the country. In the core
- ~  e& }$ R( [) J- Z+ {energy producing western provinces, the combination of very high in-migration,
4 ?5 ~. T9 F; C  x! c$ e& Gmanageable affordability, and a shortage of inventory has driven record! M9 g1 G1 X% J8 G  s/ ^9 Q. f
breaking price appreciations.
2 }( l4 L6 n" b5 v( x* q* T2 _, W: f* e* L9 C4 X' r! y  J
    Echoing the second quarter and supported by Alberta's rapidly expanding% _: o5 |2 u! x* |- T, Q/ E
economy, Calgary and Edmonton led the charge of Canadian cities with the
, u2 t" l6 d3 ylargest house price appreciation in all housing types surveyed.
" B6 m! N# i' ~5 U, k& D- n
3 M9 N; \7 A, S: S% ^    In Ottawa and Toronto, growth remained steady, supported by solid
8 w1 ?0 ?7 d4 N* Y  A% S9 E$ Beconomic fundamentals, an increase in available inventory and strong consumer. r' T9 H% d; S$ r3 Y2 O" Q, o1 X8 R8 d
confidence. While the pace of price appreciation in Ontario leveled off, N6 X# {; |) z& i8 h+ R2 t! [
slightly, the province's real estate market remains poised for modest growth.
% P# W0 H4 |  V! r3 t2 F+ SIn Atlantic Canada, new housing and condominium construction offered buyers: g# f& s, }; X2 }9 I! X
greater selection at more competitive prices, resulting in a slower rate of
1 L, L9 \. w0 ?( }- oprice appreciation when compared with 2005.+ D* X: |- [& B. B

# D0 \% j9 O: Y    While the pace of growth in Canada has slowed, the domestic housing
# I8 i, S: W; n, Y0 o' ~. jmarket is expected to outperform the American market. The economic and
; V6 t2 E1 A8 B( {% bfinancial fundamentals driving the residential real estate sector in Canada- m1 l7 G* V0 ~3 k7 {! P! U
are markedly different than those found in the United States.
# [- I+ K: X' f& h  |9 p5 B. i3 I1 w* A5 C
    Added Soper: "Canada's housing market is likely to outperform the& s/ A6 n' i( [- Z/ |6 P
American market through 2007. A number of factors are working in Canada's+ @, b$ z# |# `
favour, including healthy personal and governmental debt levels, the- }, ]/ X8 y: d9 |
relatively modest rise in interest rates in our country, and general3 i8 b1 T* k! V; n2 z: V8 t
affordability in our major cities. In addition, Americans are now seeing the, m7 q5 ]" J$ Q, q
downside of a tax system that encourages maximum homeowner leverage, and9 y/ o. o3 Q, i, p5 Z1 H3 E2 X
aggressive financial products such as zero- and negative-amortization
$ K# y# Q4 @9 |  E. K: z+ Q  a/ nmortgages that work only in a high price growth environment."
! [* y2 I4 j  H' y7 y
6 P0 M1 X$ r1 B    <<
& l9 v' x* _& _# P) e8 t' |                             REGIONAL SUMMARIES5 K6 }8 t: B2 [6 K1 _' U3 R
    >>
5 E# q4 g/ [5 e, v0 k. W# X1 r0 a: U% z
    Balanced conditions continued to characterize the housing market in
* b4 c4 x4 K) l& M6 L  BHalifax, as significantly higher inventory levels helped to moderate the rate
( @* [$ J5 X7 C3 b) N1 X: ]- E/ }of price appreciation. Buyers were increasingly choosy, taking more time- ^$ K4 L. b; U, D
looking for newer, low-maintenance properties that were not in need of
8 u( B% k  H2 frenovations.+ N5 b! d: t& U6 I( E" x: Y& U

7 v5 a0 B5 H  S7 ]: Y  m" {    The housing market in Moncton remained healthy and strong as a slight/ s3 z$ ~1 M( O1 C: W
increase in inventory helped to moderate the rate of price appreciation
0 y0 A+ g; k. ]2 [$ Acompared to the same period in 2005. Activity was brisk throughout August and
& u! u; w9 L* i+ T" Y" M+ ZSeptember and is expected to remain this way through the fourth quarter.: `4 j5 B: A9 ~- [7 g6 g

0 \& a6 k* L/ y" Q    The housing market in Saint John underwent its traditional summer
0 N7 J7 \, z* Z+ g  E. bslowdown in the third quarter, with activity picking up towards the end of the7 G0 B, F2 g" R* ]; e* k, A" G( f
quarter. The local economy continued to thrive, as construction on a new* w8 v! v2 k5 @0 G  R$ N
600,000 square-foot shopping area has begun, bringing several new box stores7 H" ]1 V6 M$ d+ P
to the area. Buyers have begun seeking less expensive fixtures for their homes
8 [! f/ q$ z# ?' U6 Oand are instead opting for more affordable housing options.
# G* P5 V2 d# P, z& R* Z8 R9 \: p8 s8 m
    In Charlottetown, the housing market started to move towards balanced
! S! P! ?- O) _" mconditions, as some sellers had to begin to lower the asking prices on their6 k9 F2 x0 f; G  x# M' ]
homes to make them more competitive. Activity from out-of-town and US buyers* C0 O/ e# j7 q+ a% \$ H, O
was down slightly compared to 2005, likely attributable to the strong Canadian9 Z. j; q$ p4 L8 o
dollar. Inventory levels began to creep up in the third quarter, providing
& R" [/ f5 y# B" y! L+ K  ibuyers with more options when looking for a home., y6 W- j! H! g/ M. ?# T4 h

* P; l& L- F2 H8 S$ v/ k! N9 K1 D    Activity in St. John's slowed slightly in the third quarter, particularly# q4 ?: Q1 Z: Z% ~9 n
among higher-priced properties, where there was a slight over-supply of homes
5 @& ?8 h! ^# r1 r: l4 Ipriced over $200,000. Listing periods have increased when compared with 2005,
0 n, \$ \# y; f; Pas some of the pent-up demand that had characterized the market over the last
" i* L' E# J0 P2 B  T4 g; xfew years has been satisfied, resulting in more normal, balanced conditions.6 j+ ^6 H* J" b) Z1 ]

0 B3 F0 |2 X2 \" d" D    Montreal's housing market recorded modest increases in average house
) \: `7 U. f5 v' Fprices, due to a slight seasonal slowdown in the third quarter as inventory
* l! `' H  U: n- Mlevels rose. Part of this can be attributed to the fact that many renting, p( V4 s3 p* a% Z. v
first-time buyers were motivated to close on the purchase of a home by July 1,
6 Q. v/ n- R4 A: Owhen rental leases expire in Quebec. Once this date has passed some of the
* v4 u6 T- N. i+ }pressure is taken off the market, allowing buyers to visit more homes before
  c2 v. i  b* @( ]: u4 Gmaking a purchase.
, g. U8 q- {# [: i0 z) K2 _3 d. ?$ d, c6 `) s1 i
    Ottawa held its position as one of the country's most stable housing
3 X+ E7 i1 [- }6 Cmarkets in the third quarter, reinforced by a vibrant local economy and strong
5 p: R5 W  K1 y' q# Aconfidence, resulting in modest increases in average house prices. The city- i1 L7 L9 u- a: m3 d' u
centre remained a bright spot in Ottawa, with homes in this area attracting
" w' x/ f  Z4 P1 g! ~attention due to their convenient location and proximity to downtown
# v+ B8 U+ g* T. d6 Yamenities.
4 j& M( W) \+ J. R) C% g: T% H9 |. t# @. H/ y3 Y
    The housing market in Toronto sustained healthy activity levels
. j0 `) A- M  ]( G4 Bthroughout the third quarter, as a strong economy helped to maintain demand2 S9 [: w. V% |0 }- N3 {: Q
across the city, causing average house prices to rise moderately. Toronto has
: f6 k% I& `* e1 C$ {' b9 Zcontinued to experience modest growth in average house prices, and has been
8 O' `9 U$ @1 j% kdriven primarily by purchasers who are buying homes as their principle
' p$ n, v8 {8 rresidence, rather than for investment.& Z. |! v# ]2 x" B4 _$ {
5 W0 r. i) l9 O  K. h9 ]' ]
    The vibrant Winnipeg housing market continued to show its strength as
. G: _7 i- n8 g3 e9 |& t! U( shouse prices rose during the third quarter. The booming local economy resulted
/ _* e  m5 q; R2 jin a historically low unemployment rate, helping to bolster consumer  m1 }3 H+ u- D, z
confidence and Winnipeg's ranking as the city with the lowest capitalization
% r. `* N/ j4 _; G) Grate among the country's larger cities - helped to encourage buyers to enter( n& D( z3 E3 w; J
the market.+ ~# J) R! w8 f

9 X. m* v& L& P2 k( ?$ _    In Regina, the market experienced a slight seasonal slowdown through% \; E1 }  a& I9 p, j: L7 Z: a
July, as there were fewer purchasers in the market due to summer vacations. In- Q7 v1 R+ H% T  d: _
August, activity resumed to the busy pace previously seen in the spring
7 m2 Z7 o* Q, _5 x: Y* r! Mmonths, as the influx of purchasers made it more difficult to find a home due
8 Y  k" F) V' O! Hto the shortage of available inventory.
- x% K2 B$ N* Z
: X) A7 S& {" ?/ c    Activity in Saskatoon remained brisk as the market maintained its
8 x( [6 n, B. t- E( {- cmomentum from the busy spring sales period. The economy in Saskatoon remains
& D8 A5 N5 @& y* G+ Zvibrant, as employment opportunities are abundant with many businesses. A9 [3 f0 y4 X7 W
struggling to make hires and having to recruit outside the province.7 @& n4 c) I+ B( @) M  z
' N/ X- N5 T8 K5 Y
    Calgary's housing market recorded blazing average house price increases# H7 l# N* m' k: C6 l
in the third quarter, in all surveyed categories. The burgeoning economy, low) O: d3 v4 i8 Q0 ~$ i
unemployment rates and low inventory levels remained the leading factors that
. q1 d: Q6 b! i' j& P, V$ lpressured Calgary's house prices upwards. However, regardless of the soaring
& A/ n! L; a! w' ?+ E5 ?prices that characterized the market - even during the typically slower summer
' C" Y3 [9 d8 r" w1 [3 d  qseason - it is expected that activity will become slightly more balanced, as8 {  V6 F/ W' X/ x' n: D2 @. m
buyers are becoming more reluctant to participate in the frenetic activity.
0 r2 a) D8 @2 s; ~- ~+ @6 }
4 k6 Q+ V) ^* V6 ~
    Edmonton's booming local economy continued to thrive in the third quarter& I' a- W. d+ \& X  P$ j8 k, R
as activity in the oil sands north of the city continued to flourish. Edmonton
0 p2 u- I5 e" r2 [remained the hub of activity for those coming to work in the oil industry,
( K/ F! E3 y2 K) w/ [# {$ imaintaining tight inventory levels across the city, resulting in prices8 ?# z5 {1 w' {! {
increasing at record levels. However, as inventory levels continued to improve5 u+ O5 r( N9 C- {4 U* W2 S
in the third quarter the rate of price appreciation should moderate slightly
! B, s! @- U, o) r1 O% Mtowards the end of 2006.
   
9 k4 l- E3 u5 z) o9 e5 y5 R& B* n. N4 K7 b
While Vancouver has seen a slight reprieve from the severe shortage of) @3 r9 o) k: \7 o" {9 t# r
inventory that had previously characterized the market, supply is still unable
$ u/ g2 m# s) W2 u4 Q8 ~9 Zto meet demand, driving house prices upwards. Vancouver has a very diverse
0 s: w) u: f- F, pgroup of active buyers - from first-time home buyers to baby-boomers to5 Y8 q8 x, S, w
foreign investors - all of whom fuel the demand for houses, placing added% V" j8 [( W- N8 ^0 A# y; H
pressure on tight inventory levels.! O) S3 K; I6 ^
) A. ?+ \; m+ A/ k- M; o
    Victoria's market is vibrant and supported by strong economic
4 \6 ?- \* o0 T9 Y# C- K% ~fundamentals, fuelled by a booming tech sector and a migration of young people
5 q$ `( ~3 ~: Dinto the city that has continued to support the area's house price increases;( N6 W) V7 j8 H
while increased inventory levels have afforded buyers more time when searching
. _$ b: H+ {# y" s7 T' Gfor a home, helping to normalize the market's pace." `  [# Q1 v7 R% h
+ o3 K* `6 x3 n% E. I, H, G
    <<; |; @! m* Z4 Y! w# |. D
      Survey of Canadian Average House Prices in the Third Quarter 20061 X1 I- C% {4 T1 a2 X  g. |
/ Z; e) |: v3 c1 ?
    -------------------------------------------------------------------------; m, Y, F1 b9 _3 o/ p3 n
                 Detached Bungalows                Standard Two Storey% t0 D/ V8 O: _# R) B6 [8 `& P- e! e
    -------------------------------------------------------------------------6 X/ k, ?( V2 U& T- h0 E. O4 Y  {  \& c
                     2006 Q3     2005 Q3    Bungalow     2006 Q3     2005 Q3
% P( L8 D( O$ X2 \    Market           Average     Average    % Change     Average     Average7 E- N3 e( ]- H! \. R
    -------------------------------------------------------------------------; K4 E; P# ^) p' [" F
    Halifax          186,333     173,333        7.5%     198,667     199,000+ t- I" Q2 f5 G9 J
    -------------------------------------------------------------------------8 C& R) n9 g/ y, P+ R
    Charlottetown    145,000     141,000        2.8%     175,000     170,000- y+ M, J1 g. O: k% a( L1 i5 w. e
    -------------------------------------------------------------------------
" d) |$ Z# j3 y; J( k* z! ~7 r    Moncton          135,000     127,000        6.3%     129,000     123,000- {# S. g* {' K8 n5 o
    -------------------------------------------------------------------------
. R' J% J9 }1 k    Saint John       141,200     142,900       -1.2%           -           -
8 h8 a, i# P! c5 U    -------------------------------------------------------------------------# q) o; N% M6 z& U) @+ m; n
    St. John's       143,667     142,667        0.7%     200,667     202,333# y. |' m. l* B/ I7 N  g) Y
    -------------------------------------------------------------------------" L9 r/ {2 @" N( }5 A
    Atlantic         150,240     145,380        3.3%     175,833     173,583
- G) n$ K; z, }2 f- p4 B$ ?9 P    -------------------------------------------------------------------------
! |0 d4 m2 B3 v+ N/ [    Montreal         213,691     203,500        5.0%     321,141     316,185: v: I5 v( ^0 e4 z
    -------------------------------------------------------------------------
1 C5 N+ j. f$ s- @: {- y, x% Q8 V    Ottawa           290,083     278,417        4.2%     285,667     273,2502 m: D& c5 ^5 K6 @' R
    -------------------------------------------------------------------------
2 A  V( T. }  T8 `    Toronto          373,368     355,882        4.9%     481,523     474,766
0 Z& k# S! R/ [    -------------------------------------------------------------------------: d. {4 _7 T  D' I! Q4 h
    Winnipeg         181,579     159,860       13.6%     202,337     180,707
+ B1 r, W" k$ R1 F; Y1 z  {    -------------------------------------------------------------------------
7 K! W& z9 p. W  |    Saskatchewan     170,667     156,083        9.3%     182,600     166,500
' ?3 y# r4 ]; \    -------------------------------------------------------------------------0 P; o7 s4 |) K3 z
    Calgary          395,067     252,411       56.5%     405,778     264,3894 {( o7 N$ }. E, u* w
    -------------------------------------------------------------------------
/ \- C0 t$ T% P5 Z1 O    Edmonton         286,857     194,857       47.2%     316,429     206,7147 a* {$ Z# c5 A# f' R
    -------------------------------------------------------------------------
; |! u- |& @/ q8 o# z- I# Y    Vancouver        704,250     601,000       17.2%     794,000     697,500
; p9 _3 q4 _9 R    -------------------------------------------------------------------------5 a. x' G3 R/ v* L. M
    Victoria         375,000     348,000        7.8%     403,000     391,000- b9 E% ]1 U0 j# X4 [4 c- B7 b
    -------------------------------------------------------------------------) _( z7 p. G) y8 {
    National         300,365     258,202       16.3%     365,380     322,860
$ q  L# D; h, d    -------------------------------------------------------------------------. h6 o/ g! b1 k. X# k/ w

4 D4 b, J7 q% s    -------------------------------------------------------------
2 l- F8 \8 r/ q; }" Z0 x                               Standard Condominium
! x- i0 h' }8 N* L  F( d2 d    -------------------------------------------------------------
, ^$ f* N  y2 N7 }7 W: W) B7 ~% @                    2-Storey     2006 Q3     2005 Q3       Condo
8 G4 h; f5 n; r" v8 M: ]    Market          % Change     Average     Average    % Change# B% Q% ]: T/ j  J- n
    -------------------------------------------------------------
0 a% y0 r1 W* g7 o; h2 g3 N0 g3 A    Halifax            -0.2%     142,000     103,000       37.9%  C6 i% j0 {: g# A
    -------------------------------------------------------------1 _& e2 r& h% h) G+ [: r
    Charlottetown       2.9%      98,000      98,000        0.0%
4 y: t; _3 b# N9 `9 \: {    -------------------------------------------------------------; ^3 f% w2 q6 R$ `
    Moncton             4.9%           -           -         N/A9 B" ~& ~$ v3 B4 t% F" E% c
    -------------------------------------------------------------
9 R# g6 {5 b, c. ~- H" a* z4 l$ o    Saint John           N/A           -           -         N/A
0 s. k/ m: [6 P. h/ p/ f    -------------------------------------------------------------- v9 ^, M/ R& @
    St. John's         -0.8%     146,333     145,667        0.5%
% h" ~7 J. ?6 j3 J$ n7 u. F$ W    -------------------------------------------------------------
8 R( x* _" D7 R+ O    Atlantic            1.3%     128,778     115,556       11.4%
" `, P# P: Q2 O: y0 Q) B% D    -------------------------------------------------------------. ]! i' i4 J2 c  U5 O$ ~
    Montreal            1.6%     193,190     188,016        2.8%1 t. z& p! a) N0 _4 \
    -------------------------------------------------------------
( X- J0 k3 ~3 h- a# N    Ottawa              4.5%     181,083     172,250        5.1%
, [, \/ R8 A: J8 Z* j, G0 K- d3 i7 W  M    -------------------------------------------------------------
$ j( h3 |! E0 Q    Toronto             1.4%     252,088     242,918        3.8%
" ~8 O0 K% g/ j- X    -------------------------------------------------------------
. C+ @9 e: K# _# r3 l" b% Q    Winnipeg           12.0%     105,648      96,008       10.0%4 s  ?; R) Z- @2 t' q4 v2 K
    -------------------------------------------------------------3 y5 @: b- @. ?
    Saskatchewan        9.7%     106,250     101,000        5.2%& T2 m( w2 L4 ~- L# u# L3 ^
    -------------------------------------------------------------1 R% Q! ?) R/ Z- \. e0 t( h- P% {
    Calgary            53.5%     245,844     153,867       59.8%
& Y) r' u( @3 }/ [$ M+ }! c" Z) l    -------------------------------------------------------------
, U9 s( ?; C' A! Y4 C    Edmonton           53.1%     200,433     131,500       52.4%
4 `9 R( X) u7 O! O3 K( q9 R    -------------------------------------------------------------8 |& s7 F) U/ L4 }
    Vancouver          13.8%     366,250     323,250       13.3%
& ^; r6 ]% u- P* G5 d0 D7 H    -------------------------------------------------------------
4 a9 ^8 I3 ^9 B; r/ u    Victoria            3.1%     229,000     220,000        4.1%/ n! U: ]+ j5 C$ z! Q
    -------------------------------------------------------------
6 x1 ~2 W0 l% Z8 M. O* x1 U    National           13.2%     211,562     185,296       14.2%
7 }+ k1 A) i4 c- o3 \    -------------------------------------------------------------: A9 y2 U% L8 b. E" u! B
    >>
1 n! Y5 `) M1 L( Q8 K4 h% q) X+ R, {* h2 D  _
    Average house prices are based on an average of all sub-markets examined
: V5 y/ g, J4 X) G1 T0 Gin the area, except for the smaller markets of Charlottetown, Moncton, Saint% F# B1 O4 [, |
John and Victoria.
' f6 ~8 ?" c: q% D, L; h
8 L  s* o" ]" f3 I7 D  T3 g    The Royal LePage Survey of Canadian House Prices is the largest, most
' H% x0 S2 O4 z: Q3 h8 k" Acomprehensive study of its kind in Canada, with information on seven types of
: M6 c" @2 @( X* a  B1 T+ Ahousing in over 250 neighbourhoods from coast to coast. This release' V6 ]+ e& u- ~# b" z# x$ G
references an abbreviated version of the survey, which highlights house price
( V3 R, x& E' y. Y: l1 x2 Strends for the three most common types of housing in Canada in 80 communities" g* U2 E; t: ]; n* n" J- ]
across the country. A complete database of past and present surveys is
% M+ {4 }: G( q/ `/ B9 d/ P! q) b% Cavailable on the Royal LePage Web site at www.royallepage.ca, and current
; @+ g# r% y( nfigures will be updated following the end of the third quarter. A printable! ]4 m" [( u6 H3 a' P
version of the third quarter 2006 survey will be available online on
& j2 t$ S' O3 V" |" ?November 15, 2006.
% R9 _1 z1 a* x( M, _1 a6 t* M& q    Housing values in the Royal LePage Survey are Royal LePage opinions of
) a8 `8 k0 V3 y. gfair market value in each location, based on local data and market knowledge2 @) S6 h7 A9 \6 o: q9 T8 _
provided by Royal LePage residential real estate experts. Historical data is
2 l0 \, a* j; R' Pavailable for some areas back to the early 1970s.
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