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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 - n% M5 D% W6 Q: z& o( |. v

) z! g" ?- Z# n$ l) h, N- Country's market poised to show growth throughout 2006 -' h* Z- O4 i8 O) z: G# O  D" C2 G
5 x; `, v+ I- |* ]: M7 `$ l( |
    TORONTO, Sept. 28 /CNW/ - For most of Canada, the housing market9 S( ~( S$ ?: g3 j! c" N0 T$ ^9 P! W
exhibited moderate price increases and stable unit sales during the third# W: @& j: k; V; U$ Y7 x
quarter. Wide regional variances continued to be the dominant characteristic
7 b5 o& j( r5 A4 l- Z) C' Uin the market, exemplified by frenzied levels of activity and double digit
* T. A. k) ^% K" m; `( X! M3 vprice gains observed in the energy and commodity rich Western provinces, and
6 L! I4 y0 q% J0 }+ I6 r' Emore reasonable sales volumes and moderate price appreciation in Ontario,9 d' w9 c1 i: [9 B( x3 V, D  ?
Quebec and Atlantic Canada, according to a report released today by Royal
( L5 ~/ X- P! \0 r' L8 ^7 E( RLePage Real Estate Services.
1 ?; ]3 @/ l9 {
9 d  e% x" H' R+ J' H- _    Nationally, market trends established through the first three quarters
& U- ^6 X9 e0 K2 ^5 E  [; care forecast to continue for the remainder of the year. Robust economic  ~: P6 y, D& ?2 Y0 X
conditions, low unemployment rates, modestly growing salaries and wages, and
2 T! L% i) P0 x9 xsound consumer confidence contributed to the overall strength of the5 {& c" K1 c3 L) x8 P6 `
residential real estate sector.# \; D2 ?  C" y6 y8 u+ o; Q6 x: c

$ Q5 C1 J$ i3 F$ T& P    Of the housing types surveyed, the highest average price appreciation) a  M3 l7 B/ G' m' E0 b
occurred in detached bungalows, which rose to $300,365 (+16.3%)
1 Q2 i- M" F% r, D0 z, myear-over-year, followed by standard condominiums, which rose to $211,562/ L5 I7 _. \: G7 x0 ~" _
(+14.2%), and standard two-storey properties, which increased to $365,380( \2 Y' l& n' P5 [
(+13.2%).
( c# Z% y% h  v: g
% l1 I( J. t1 B8 R5 W2 I    "Canada's sturdy housing market continued to demonstrate steady growth
! {" \$ [' z! `* t' `* Y4 fduring the third quarter. For all but the west, we have moved on from the
7 ^- W3 l( \& }9 e/ {frenzied expansion that characterized the first half of this decade, and are
) H0 P9 q% ?  ]' \! {poised to show continued growth at a more moderate pace," said Phil Soper,
6 w" c  L% ~- P0 r! g: t: u7 Epresident and chief executive officer, Royal LePage Real Estate Services.5 f4 w; }# W) R* a  a5 Y
"Gone is the sellers' market that we have lived with for some years. We
: V. R" r( u" i" b, c6 h4 Twelcome the more reliable conditions that are characteristic of a healthy  x' q; C1 V& a' Z5 h
balanced market."2 e+ [5 u9 v" P

5 N& M* H* X, X& M    Despite the double-digit rise in average national house prices,* [. D! e# Q2 z4 T$ m* X
considerable regional variances were exhibited again this quarter. The shift
3 s8 i: Y, X+ N7 X) o& Sto balanced market conditions, which began in late 2005, has continued0 `- ]  r) G: t" [1 ~  T4 y: `: O! Z
throughout most of the Central and Eastern regions of the country. In the core( s7 F; f! f0 f; b, U1 T6 p
energy producing western provinces, the combination of very high in-migration,
6 @3 ?; t3 K5 U% smanageable affordability, and a shortage of inventory has driven record. I5 Q& {9 N, a9 L5 u, y
breaking price appreciations.
/ z9 S' T7 J' ^- S/ G0 d  q
/ H5 j' H0 O. i) Q# b# q    Echoing the second quarter and supported by Alberta's rapidly expanding7 h3 C3 F% F6 O4 P  T
economy, Calgary and Edmonton led the charge of Canadian cities with the
2 f+ {4 b, [. K% Xlargest house price appreciation in all housing types surveyed.2 J$ x0 i& a9 U! A7 B" P/ L, Q: ?

6 i1 K3 o* R+ v    In Ottawa and Toronto, growth remained steady, supported by solid( F+ L9 s1 P- R3 `- L
economic fundamentals, an increase in available inventory and strong consumer1 ]6 q; `* O1 I/ l; Q
confidence. While the pace of price appreciation in Ontario leveled off
& L5 K6 a1 N; oslightly, the province's real estate market remains poised for modest growth.
: ]6 e7 Q1 X) ?3 FIn Atlantic Canada, new housing and condominium construction offered buyers. L0 X: N2 N( B3 E0 i
greater selection at more competitive prices, resulting in a slower rate of
. k% \8 L  j, l  @price appreciation when compared with 2005.
# R& x: f: p2 ]) q4 q* L! S# X( ?. p. P+ z; U" i: D
    While the pace of growth in Canada has slowed, the domestic housing0 M; @" j, D- r0 t1 l( k
market is expected to outperform the American market. The economic and1 N8 q! k4 ^  t! L3 X; F
financial fundamentals driving the residential real estate sector in Canada
" N( n/ |# N: `9 z  oare markedly different than those found in the United States.; D3 {/ i1 _1 H, U; A# q3 W' \" \0 K

: n& _$ H  v) X    Added Soper: "Canada's housing market is likely to outperform the% N7 v* s: M# _! ]
American market through 2007. A number of factors are working in Canada's/ y4 w- e% u- q4 L# @9 Y& ?
favour, including healthy personal and governmental debt levels, the
& o& ^& V0 Q# b3 e. E4 X3 ?relatively modest rise in interest rates in our country, and general
7 G8 a9 f+ z/ ?4 g8 C$ d  kaffordability in our major cities. In addition, Americans are now seeing the- z0 R$ y4 E- I! P5 l9 A4 i
downside of a tax system that encourages maximum homeowner leverage, and
% q( B+ V" M+ s& b9 {aggressive financial products such as zero- and negative-amortization$ @- m3 n% O4 P/ g
mortgages that work only in a high price growth environment."
) y' W! ]4 H- P+ x2 W- z  f! z* {* M3 }
    <<
" X, V; V$ m! R0 k. H- E1 w- F                             REGIONAL SUMMARIES
" [; e0 V, f: f( a/ @) z& t+ {9 B    >>
/ e: W2 N9 _( s" |! p
, V! O4 }) {2 Y' @" Z, }$ @/ }    Balanced conditions continued to characterize the housing market in
9 l: d- [* g+ f9 HHalifax, as significantly higher inventory levels helped to moderate the rate
* Z! N4 b0 s/ q5 k7 J% Oof price appreciation. Buyers were increasingly choosy, taking more time/ V7 U5 |. I) y1 ]
looking for newer, low-maintenance properties that were not in need of
, v( s0 C: z* Zrenovations.9 d& v% n. i8 r0 f
- K$ S/ {( Z4 Q
    The housing market in Moncton remained healthy and strong as a slight6 Z. e% X9 n! b1 V$ i6 u% _/ {
increase in inventory helped to moderate the rate of price appreciation
2 f, b& ^, U( l0 G+ qcompared to the same period in 2005. Activity was brisk throughout August and- |! R9 j1 G! W$ V9 a- }
September and is expected to remain this way through the fourth quarter.' Y& d# [$ N- z8 k

4 d7 W7 S  M. C- s7 v- N5 P4 T    The housing market in Saint John underwent its traditional summer( x; n+ M' q7 z! U9 f
slowdown in the third quarter, with activity picking up towards the end of the  h& N# @, g& R1 i; C, P0 R1 @! S# Z
quarter. The local economy continued to thrive, as construction on a new
9 @% h+ B. r9 Q; O& f3 x2 W600,000 square-foot shopping area has begun, bringing several new box stores& f6 `1 Q3 h1 ?+ a
to the area. Buyers have begun seeking less expensive fixtures for their homes
1 D6 H/ G* H" ^4 g  Tand are instead opting for more affordable housing options., s. u; y* A. e# L9 g. ]
+ |8 u( Y9 h/ Y# n( O9 \1 Q4 A
    In Charlottetown, the housing market started to move towards balanced
# N5 ]2 g1 w* Y. T% @& V' |conditions, as some sellers had to begin to lower the asking prices on their' w. W4 z4 F" e+ a$ \$ C- N
homes to make them more competitive. Activity from out-of-town and US buyers
2 ]" v6 F5 q+ Awas down slightly compared to 2005, likely attributable to the strong Canadian4 [' r. A$ `8 O0 {+ c; {
dollar. Inventory levels began to creep up in the third quarter, providing
/ z1 p8 B& b* ~( s5 |. @4 \buyers with more options when looking for a home.6 `0 M- {# @' _' o. t' Q

5 u4 _0 N/ u: N8 g8 _    Activity in St. John's slowed slightly in the third quarter, particularly* a& }/ e9 r, ~
among higher-priced properties, where there was a slight over-supply of homes
8 ^) d8 g0 C$ C2 u3 Jpriced over $200,000. Listing periods have increased when compared with 2005,& H. c! a% _) I$ m" m
as some of the pent-up demand that had characterized the market over the last: W7 g" ?; b3 W
few years has been satisfied, resulting in more normal, balanced conditions.5 P& v8 U5 T" _% E# c2 i# `5 a% C( X
4 e7 `: A* Z% S& }% _
    Montreal's housing market recorded modest increases in average house4 F/ @, N- S4 V' v$ M/ N
prices, due to a slight seasonal slowdown in the third quarter as inventory" Q8 m  C" z" T( O5 m6 ?1 Y( U* Y
levels rose. Part of this can be attributed to the fact that many renting- }# w# w! [6 K( j1 i8 i
first-time buyers were motivated to close on the purchase of a home by July 1,
- O/ `# n, T! v: Rwhen rental leases expire in Quebec. Once this date has passed some of the: Q- l9 u( Y1 S* p( A6 i) d
pressure is taken off the market, allowing buyers to visit more homes before, U4 V: f' r# T/ I' z6 o, G
making a purchase.
$ M2 R: b  Z9 P+ Q8 |0 u) |' Q' j
( C& I( R. r/ o4 D) a    Ottawa held its position as one of the country's most stable housing
5 w- J# d1 b/ o% t, T3 j/ C" @markets in the third quarter, reinforced by a vibrant local economy and strong5 f- S' C  X1 ^! q' j  o4 m" `, O
confidence, resulting in modest increases in average house prices. The city
  `( x6 ~4 h( c) O/ p# T/ _4 e' qcentre remained a bright spot in Ottawa, with homes in this area attracting) Y( m  N- n% d0 m9 [% r: ~6 a
attention due to their convenient location and proximity to downtown
% n: j  N0 e9 A0 d6 E+ Mamenities.
* K/ i3 ~9 o- j0 T, ^1 h2 m$ I3 Z! g
    The housing market in Toronto sustained healthy activity levels
( Q9 V1 l0 E. O: Jthroughout the third quarter, as a strong economy helped to maintain demand5 I# S  w* j/ U- y2 \
across the city, causing average house prices to rise moderately. Toronto has0 ?& |6 v/ o' M$ N+ E6 G
continued to experience modest growth in average house prices, and has been
' l, _, i) `5 b! U% c% T8 S% t2 odriven primarily by purchasers who are buying homes as their principle
2 m! e, r" y' ]# Sresidence, rather than for investment.
6 _) h8 }/ F/ U3 u, b% E/ [  ~' ]/ H2 R6 S
    The vibrant Winnipeg housing market continued to show its strength as( w- R# z7 Z. b$ G4 A
house prices rose during the third quarter. The booming local economy resulted4 S# h1 X: k' s& ^( o
in a historically low unemployment rate, helping to bolster consumer
0 h5 z8 ~2 \; A  c  \# i4 @; ]0 p- hconfidence and Winnipeg's ranking as the city with the lowest capitalization
" f+ S6 I3 o5 [+ i+ prate among the country's larger cities - helped to encourage buyers to enter
6 |, n+ C: h% k( `% Pthe market.
- O5 e/ {  s. P0 k* ^
& a0 g; C4 H: H( i  B0 |- K    In Regina, the market experienced a slight seasonal slowdown through
( w" D8 N2 F6 v: t0 E" zJuly, as there were fewer purchasers in the market due to summer vacations. In( w* e. E: z1 G2 \, m
August, activity resumed to the busy pace previously seen in the spring# ?4 e2 P6 c. L4 r
months, as the influx of purchasers made it more difficult to find a home due
# k/ W7 I" b9 f, vto the shortage of available inventory.
! o8 {0 q5 p! E! ^" \9 ~& H  H. K, i6 [, U: J# \; s/ ~& |0 c
    Activity in Saskatoon remained brisk as the market maintained its
" B; Z; B( r; S" S6 j6 Umomentum from the busy spring sales period. The economy in Saskatoon remains9 u! X" l. V3 m% I" o. s
vibrant, as employment opportunities are abundant with many businesses2 ^/ ]  B( x) d$ }
struggling to make hires and having to recruit outside the province.
) j: j- b) V; j( j/ {& P0 x, A3 R9 i$ v9 z+ P/ j
    Calgary's housing market recorded blazing average house price increases
' C' z6 c0 Q3 ~: yin the third quarter, in all surveyed categories. The burgeoning economy, low) |  q9 I2 H( i: z' P- {! A6 K- ]
unemployment rates and low inventory levels remained the leading factors that
% c( H4 d, e2 l4 B- Gpressured Calgary's house prices upwards. However, regardless of the soaring
0 d' {5 O  d4 c) M& f& Q8 o. Xprices that characterized the market - even during the typically slower summer! T+ S8 E. J" `+ m0 ?# h, h
season - it is expected that activity will become slightly more balanced, as- \# ~2 C; a# j" e" `2 f
buyers are becoming more reluctant to participate in the frenetic activity.
* Q6 h! Z: X; d

$ F% Z% D) F* w- m, x- @/ _5 e    Edmonton's booming local economy continued to thrive in the third quarter) m; i9 |, o7 f6 P6 f, K
as activity in the oil sands north of the city continued to flourish. Edmonton
/ {  C: {! L# \* \1 ?  r' Xremained the hub of activity for those coming to work in the oil industry,
. S; G& s3 q/ v* h6 tmaintaining tight inventory levels across the city, resulting in prices
; l) n3 p' @& h  m' Hincreasing at record levels. However, as inventory levels continued to improve
" C! E0 r) r; V0 ]% h5 Din the third quarter the rate of price appreciation should moderate slightly- ?) G. i& v7 ~# L/ F
towards the end of 2006.
   
; \8 m- v$ b9 @5 U9 ~+ i- \  t" K. s0 ?  Q" h, ?2 }4 U
While Vancouver has seen a slight reprieve from the severe shortage of- B1 d+ U$ v9 z* K
inventory that had previously characterized the market, supply is still unable
/ [! T- `! r  n+ `to meet demand, driving house prices upwards. Vancouver has a very diverse
& p6 {1 |, r+ l  |: Kgroup of active buyers - from first-time home buyers to baby-boomers to) [- k0 _8 J+ j- [: V) h: S% `
foreign investors - all of whom fuel the demand for houses, placing added/ }, ~% Q$ }0 ?
pressure on tight inventory levels.4 D# V8 A- I8 K  R/ s" _

4 n/ `5 j5 F, n& H% R( j    Victoria's market is vibrant and supported by strong economic
; p  n! O) T& n' D1 K0 S: p' ^fundamentals, fuelled by a booming tech sector and a migration of young people5 M6 S) v4 t) V3 I" R8 x9 E' O, B
into the city that has continued to support the area's house price increases;
! K- i2 C4 K3 w  Bwhile increased inventory levels have afforded buyers more time when searching; M3 r9 K+ Z, k3 W& _0 R
for a home, helping to normalize the market's pace.
+ P( r4 G% }/ [
/ |1 l2 M+ |2 G3 f2 \) Q    <<
2 u% `3 F& E2 r      Survey of Canadian Average House Prices in the Third Quarter 2006  [# j: Z  y- @- g% T$ K. h8 _8 _. I

6 J8 n2 X% g  ]( Q9 T) K    -------------------------------------------------------------------------" S0 x2 N& A8 }  i4 A1 q) x
                 Detached Bungalows                Standard Two Storey
/ g" Z$ P9 X# C* l    -------------------------------------------------------------------------
  o1 Y% p& I7 g0 Q+ a2 M( @                     2006 Q3     2005 Q3    Bungalow     2006 Q3     2005 Q3
1 U$ M" K1 f, i4 ], Y+ q/ \7 ^    Market           Average     Average    % Change     Average     Average
% g' A/ H4 u  ]    -------------------------------------------------------------------------% H* |2 Q) J9 r2 b) Z
    Halifax          186,333     173,333        7.5%     198,667     199,000. Y' s) N7 M, Y% B
    -------------------------------------------------------------------------
4 U- A# k& P7 T' O' {! P2 P! a    Charlottetown    145,000     141,000        2.8%     175,000     170,0009 e1 l! y0 ?1 ]/ f  s  l5 K
    -------------------------------------------------------------------------
+ \/ P/ Y: t3 g7 v% V+ @    Moncton          135,000     127,000        6.3%     129,000     123,000
) e) U) L* \9 o) t/ I9 b( D5 [    -------------------------------------------------------------------------
! [- {. c% V5 p0 R    Saint John       141,200     142,900       -1.2%           -           -9 a7 Q; P% A$ v' |
    -------------------------------------------------------------------------8 x; q+ S; v- }. [% V/ `0 X  ]
    St. John's       143,667     142,667        0.7%     200,667     202,3334 x/ L0 z" O& f! G  W
    -------------------------------------------------------------------------
* {$ p; M- \, ^* o$ D9 b    Atlantic         150,240     145,380        3.3%     175,833     173,583. y) Y" ]4 e9 ]5 @# l% X
    -------------------------------------------------------------------------
$ h8 K* `# v5 J2 K0 Z* h    Montreal         213,691     203,500        5.0%     321,141     316,185
$ ~. Q1 Y4 _# A6 N5 ?    -------------------------------------------------------------------------
9 r1 D+ w, z1 J- j! E  n% i/ ?8 E    Ottawa           290,083     278,417        4.2%     285,667     273,250& k* P$ ?$ }2 c- a
    -------------------------------------------------------------------------
' z8 D- H! |1 {2 p    Toronto          373,368     355,882        4.9%     481,523     474,7667 C% L3 S3 o- H  L/ a: ?4 n
    -------------------------------------------------------------------------
$ E$ @7 }7 \+ g4 {/ v    Winnipeg         181,579     159,860       13.6%     202,337     180,7074 x7 s8 H1 F( v5 Y  t
    -------------------------------------------------------------------------, C' M3 S* p5 @* h: N2 N! S( P7 d1 m% F, ^
    Saskatchewan     170,667     156,083        9.3%     182,600     166,500
+ x6 x$ x! d  X# h' n- O! S. u    -------------------------------------------------------------------------
$ B; n$ W8 k6 T( I  V3 v    Calgary          395,067     252,411       56.5%     405,778     264,389
% o  a& v, O& W8 o  H" V/ Y: y" ^# F    -------------------------------------------------------------------------% [- d2 ^( g2 Q; n4 g* w* a" J
    Edmonton         286,857     194,857       47.2%     316,429     206,7141 K, g$ {# |( `
    -------------------------------------------------------------------------
2 E2 y' v* F; @6 f" a) Q    Vancouver        704,250     601,000       17.2%     794,000     697,500
1 t1 i, K4 C5 T; K    -------------------------------------------------------------------------
; p# P3 X/ a1 j# `    Victoria         375,000     348,000        7.8%     403,000     391,000: W2 m% q7 d1 v0 f! t( K
    -------------------------------------------------------------------------$ H# a0 ^2 r- q9 I8 \
    National         300,365     258,202       16.3%     365,380     322,860
; c2 {# G4 ?) |# f9 T    -------------------------------------------------------------------------
1 Z8 v( N1 ^# Z2 c8 n1 e( \" [% K" q
    -------------------------------------------------------------8 L- Z- H% e/ Q- u+ Y7 b7 D; p$ [
                               Standard Condominium
7 n$ u8 ]. H% b: b, v4 b6 j    -------------------------------------------------------------
2 M3 ~& K- C9 m* L* J, u; J, Z0 d                    2-Storey     2006 Q3     2005 Q3       Condo- r: D8 e$ d9 K7 U5 A& y
    Market          % Change     Average     Average    % Change
' W" E! A: H+ u, @* E! x    -------------------------------------------------------------( i/ H" _4 x( y9 U3 |6 Z
    Halifax            -0.2%     142,000     103,000       37.9%2 E- D$ s7 I, {2 H/ Q( r4 a
    -------------------------------------------------------------: f# b! F2 h  Q- O2 k1 ]
    Charlottetown       2.9%      98,000      98,000        0.0%
+ e- A" u- H2 F: P7 h% c! ~6 o" b* h    -------------------------------------------------------------
; Q9 o+ Q5 y4 m* M- t7 \    Moncton             4.9%           -           -         N/A- u/ X9 ?: k. f) w# \) U) ]
    -------------------------------------------------------------1 D: R$ e! m) w8 y% }* f) {8 k% W
    Saint John           N/A           -           -         N/A! W) q5 [7 @* O% q
    -------------------------------------------------------------/ Y, ?; z2 T0 }4 F
    St. John's         -0.8%     146,333     145,667        0.5%
8 G, E& y7 ?/ C2 T" ^! k$ {  U& H& a    -------------------------------------------------------------
$ n" k. p0 z4 _# P    Atlantic            1.3%     128,778     115,556       11.4%1 X& ]7 j4 e7 I8 r0 r  k2 H, v
    -------------------------------------------------------------4 j1 v4 }0 O& G5 O1 O% d2 L- c
    Montreal            1.6%     193,190     188,016        2.8%
0 @4 o7 F( Q7 z' x    -------------------------------------------------------------- `+ a& o* @* s9 D5 I
    Ottawa              4.5%     181,083     172,250        5.1%; K# {# W' a; P
    -------------------------------------------------------------" p$ f% s0 h8 \  ^3 n2 `# g
    Toronto             1.4%     252,088     242,918        3.8%% e/ j; U# w& U. {" I
    -------------------------------------------------------------
: F8 [! n7 d( T* e    Winnipeg           12.0%     105,648      96,008       10.0%/ L. ?" `7 @. s6 ]
    -------------------------------------------------------------7 ^3 n/ T. D6 h+ X! B# k
    Saskatchewan        9.7%     106,250     101,000        5.2%
7 N3 X, \: n8 f6 _    -------------------------------------------------------------
$ T5 I) ?$ G. A5 \+ [4 `2 c    Calgary            53.5%     245,844     153,867       59.8%
( n2 ~, d( W1 t    -------------------------------------------------------------/ ?0 P/ n. R$ r. U; A. n& @5 @
    Edmonton           53.1%     200,433     131,500       52.4%
- p$ S7 {. N; @# V2 @" X    -------------------------------------------------------------, W% B- [& [, e$ R! s( E- u# h/ p- e
    Vancouver          13.8%     366,250     323,250       13.3%
9 ]  Y/ k( t* `: ?    -------------------------------------------------------------" ?- V+ i$ U  y6 W' C& f
    Victoria            3.1%     229,000     220,000        4.1%
# V4 w) |7 n, L    -------------------------------------------------------------
( O, D7 }- Z) |5 r    National           13.2%     211,562     185,296       14.2%9 c0 ]$ C- N; L; [( `- B9 c
    -------------------------------------------------------------# J$ S' S' u; t( |8 N2 _" f
    >>
4 L! l) v4 H& @( P
' _! f3 n& F6 B9 P& q/ Z4 m4 O    Average house prices are based on an average of all sub-markets examined4 Z& b9 T# I) l9 |9 S
in the area, except for the smaller markets of Charlottetown, Moncton, Saint
& T& n" R( D, B( s" lJohn and Victoria.
1 m: r% @1 u  u: M6 q8 Z3 f1 H( w
    The Royal LePage Survey of Canadian House Prices is the largest, most
/ t$ S! ]3 F8 S/ _) ocomprehensive study of its kind in Canada, with information on seven types of
: E9 m! ^& i1 Xhousing in over 250 neighbourhoods from coast to coast. This release
; p% c. m$ Q  L( @references an abbreviated version of the survey, which highlights house price8 j; |4 o8 d0 w3 s5 P% p  W2 F* [8 {
trends for the three most common types of housing in Canada in 80 communities
% C) p* I4 p1 f! C# Dacross the country. A complete database of past and present surveys is& ]( K  u2 d5 g/ L& ^
available on the Royal LePage Web site at www.royallepage.ca, and current) |4 t5 j& U; f, ~1 @6 q
figures will be updated following the end of the third quarter. A printable7 b+ J1 Y+ v# I+ @9 N
version of the third quarter 2006 survey will be available online on- \% x* \! d6 c( Z
November 15, 2006.+ w/ v9 |( y" Q
    Housing values in the Royal LePage Survey are Royal LePage opinions of" |5 G0 h  r7 ?1 O( g2 _' `  [
fair market value in each location, based on local data and market knowledge9 d0 P/ A8 a0 ~5 C  e! K5 e6 K+ ~
provided by Royal LePage residential real estate experts. Historical data is
! |! E/ N; @0 ^available for some areas back to the early 1970s.
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