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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 + f1 k8 _; Y% \

7 [) G* Q; B! c& E, V, F- Country's market poised to show growth throughout 2006 -; P8 {8 n3 j' N# k# a6 w( I

& s) U2 U. E. u7 ?( e    TORONTO, Sept. 28 /CNW/ - For most of Canada, the housing market6 O2 s$ j% x$ z) H. Q3 R
exhibited moderate price increases and stable unit sales during the third. ?6 {5 `) s0 o5 u* m6 T. S
quarter. Wide regional variances continued to be the dominant characteristic
$ j1 a# [1 T- R" K5 Q* d3 Iin the market, exemplified by frenzied levels of activity and double digit; w) E) m! o5 k6 l* [
price gains observed in the energy and commodity rich Western provinces, and
/ x; f9 E/ y7 w2 ymore reasonable sales volumes and moderate price appreciation in Ontario,. N" R( E1 D! Z  p! v
Quebec and Atlantic Canada, according to a report released today by Royal
& g$ s: [: A  jLePage Real Estate Services.1 z* a" m/ Z$ M4 Q6 q  x

% p0 U1 H0 g1 F1 Y6 M! i% ?    Nationally, market trends established through the first three quarters9 W- g, s7 q( F/ J* i. P, Y& B
are forecast to continue for the remainder of the year. Robust economic3 |; x6 d' l% _+ F1 J6 L
conditions, low unemployment rates, modestly growing salaries and wages, and# K6 S# f  d* H( Y( s1 k' {3 X
sound consumer confidence contributed to the overall strength of the
0 U8 j4 p7 K% b* Tresidential real estate sector.
9 R2 Q7 @4 c% R% `4 t7 D" g; E1 M. k
    Of the housing types surveyed, the highest average price appreciation
9 y9 s1 Z+ b3 h9 Ooccurred in detached bungalows, which rose to $300,365 (+16.3%)
+ ^/ ^, }7 g9 L+ P5 x0 f9 N1 \year-over-year, followed by standard condominiums, which rose to $211,5620 j0 K' ^% a  s
(+14.2%), and standard two-storey properties, which increased to $365,3803 N" m7 h3 \; t& I; S- o- F4 ^1 [5 z
(+13.2%).' M$ f# v- E, \: @0 W( I
; A7 [; \8 U& H' _
    "Canada's sturdy housing market continued to demonstrate steady growth
# Q& z" `6 o  f9 p/ l' W- dduring the third quarter. For all but the west, we have moved on from the0 L0 J. p3 ]  W$ W3 G% R; B
frenzied expansion that characterized the first half of this decade, and are* D4 N2 R$ t% L0 o' U
poised to show continued growth at a more moderate pace," said Phil Soper,  A3 P# ]$ J: c4 b+ v3 W5 A
president and chief executive officer, Royal LePage Real Estate Services.: m4 z2 w# p) r8 U1 G4 ]9 E! D
"Gone is the sellers' market that we have lived with for some years. We2 i. U  U% Y: F5 S% ~* K1 s. X3 J, P+ I
welcome the more reliable conditions that are characteristic of a healthy1 g  ^. d! [5 X3 N* X
balanced market."
7 ?; B+ J% ^4 K0 H8 L& b7 n% i, g- H6 k9 {, Y
    Despite the double-digit rise in average national house prices,
& C0 O, \. ^  I$ W9 |4 g4 ~* Q) iconsiderable regional variances were exhibited again this quarter. The shift
- w1 y4 W' I: A/ l( n: E3 qto balanced market conditions, which began in late 2005, has continued% O, a* o+ n/ o1 j# b3 `$ C
throughout most of the Central and Eastern regions of the country. In the core4 Y4 z7 Z6 f: w/ V& [0 Q
energy producing western provinces, the combination of very high in-migration,
  Q6 K/ \* S  b: C4 t1 q  Y# {manageable affordability, and a shortage of inventory has driven record1 D; \( w0 Y+ \* ~6 M+ ~
breaking price appreciations.- W8 V- m. \. ~1 G
/ y3 [0 d4 v% K0 s7 \. J
    Echoing the second quarter and supported by Alberta's rapidly expanding
6 A- t8 T' n9 n& ^: w6 N9 r7 B7 Geconomy, Calgary and Edmonton led the charge of Canadian cities with the0 H3 }/ V, ^, E* F  C6 R8 N$ q  D
largest house price appreciation in all housing types surveyed.- B9 k2 g0 I' k* P6 X

% l  d5 E( H8 ~    In Ottawa and Toronto, growth remained steady, supported by solid
/ g/ ~1 e& S/ K9 o% x( a- \) zeconomic fundamentals, an increase in available inventory and strong consumer8 [' o* Q& |0 J- |9 Q
confidence. While the pace of price appreciation in Ontario leveled off# p3 i3 Q5 T* M9 P
slightly, the province's real estate market remains poised for modest growth.% ]. p2 Z! E) A& r
In Atlantic Canada, new housing and condominium construction offered buyers; t  n7 D( Y; H' L
greater selection at more competitive prices, resulting in a slower rate of0 }4 l# r$ H' F; x3 ^5 k/ }5 s
price appreciation when compared with 2005.$ T# {+ l! Q' e) `

  N) E- ^% ~" m( W6 S: `! z    While the pace of growth in Canada has slowed, the domestic housing
5 ?: k& |) W8 o3 ?) H8 Qmarket is expected to outperform the American market. The economic and" _" s; p# \4 g9 a4 N% G( ]2 L
financial fundamentals driving the residential real estate sector in Canada, K" R0 y! r3 s. c5 e
are markedly different than those found in the United States.$ w/ ]3 L0 D* d- A' V) }  F
& H  }' u- F1 p& ]" I
    Added Soper: "Canada's housing market is likely to outperform the3 O1 w- K! F# Q' r2 Y
American market through 2007. A number of factors are working in Canada's
; t2 g' z6 Q- \/ o3 Kfavour, including healthy personal and governmental debt levels, the
. F- t, q! Z+ F8 grelatively modest rise in interest rates in our country, and general
' d, _" V  [" J4 x+ u1 }# Paffordability in our major cities. In addition, Americans are now seeing the
0 Q/ @2 ~/ G1 P% [3 z  ~downside of a tax system that encourages maximum homeowner leverage, and
8 g$ b4 [' V; P9 _( e0 Vaggressive financial products such as zero- and negative-amortization
/ B) z* \3 t9 S: j1 S+ H3 Q3 o8 Umortgages that work only in a high price growth environment."8 E, ?& l5 P; g6 |$ p. k

) C$ t: N4 x, b! O. o; p    <<
* w) x# ~& g; K                             REGIONAL SUMMARIES. f( U% {; q: z$ Y5 w0 j% y% Z
    >>
8 H6 ~8 y, v) m6 S
5 H* ^5 v! w* R$ g" P8 S( p0 F: d0 ?2 z    Balanced conditions continued to characterize the housing market in
3 A( g5 W+ |0 V' ^! jHalifax, as significantly higher inventory levels helped to moderate the rate
( Q  P9 M0 A+ G4 P' Nof price appreciation. Buyers were increasingly choosy, taking more time/ |9 _% z8 I& l5 [$ |
looking for newer, low-maintenance properties that were not in need of
9 U" r& H2 y+ Z; z4 X0 C* Mrenovations.
! |. o, w9 J2 l" V1 g& n
0 r: A1 `8 u6 L+ T( V6 ?    The housing market in Moncton remained healthy and strong as a slight8 p" T3 p, c8 r7 m8 u
increase in inventory helped to moderate the rate of price appreciation8 [- e3 @: b& _& j- {7 w
compared to the same period in 2005. Activity was brisk throughout August and5 \" M. p; _( Z. q
September and is expected to remain this way through the fourth quarter.
+ s* z) i1 K6 |1 E" N  j. d( R& t% c0 n5 M7 w, i
    The housing market in Saint John underwent its traditional summer
; A  ]% V+ h( s1 xslowdown in the third quarter, with activity picking up towards the end of the$ a* y8 a! h2 e$ M
quarter. The local economy continued to thrive, as construction on a new
$ L  h; O# R; A1 X600,000 square-foot shopping area has begun, bringing several new box stores
3 p) @( T5 @* I$ ^. H+ Nto the area. Buyers have begun seeking less expensive fixtures for their homes
% `. z% L& y+ H2 s& s: {and are instead opting for more affordable housing options.5 K1 b5 ^7 y: z# `% L

% G+ k! T9 m; Y0 u    In Charlottetown, the housing market started to move towards balanced, u4 e  u6 p4 W6 N. ?) v' ]
conditions, as some sellers had to begin to lower the asking prices on their
2 V& x% @9 @; j/ P, l6 Fhomes to make them more competitive. Activity from out-of-town and US buyers
  q1 P: V7 H( D3 z4 rwas down slightly compared to 2005, likely attributable to the strong Canadian+ d. m5 w2 l6 ?0 H) o4 S7 ^3 }7 J  F
dollar. Inventory levels began to creep up in the third quarter, providing. i  c; T  i5 n6 ^
buyers with more options when looking for a home.
$ t# x% L& ^3 D
) Q3 r1 f( F& x% S/ |( K9 g$ W! a    Activity in St. John's slowed slightly in the third quarter, particularly* m( @1 i9 K3 \0 M& g
among higher-priced properties, where there was a slight over-supply of homes
0 p3 z4 n' p6 apriced over $200,000. Listing periods have increased when compared with 2005,
1 Z2 o0 ]/ O8 U- X, fas some of the pent-up demand that had characterized the market over the last
6 N! k( {( l3 e) g* ~few years has been satisfied, resulting in more normal, balanced conditions.
( q+ S5 r+ Z8 F4 D  \4 }- Q' P/ W
+ O& ~' h# @: o* k5 W7 N' {    Montreal's housing market recorded modest increases in average house; ?6 B+ _* s! I3 H' X
prices, due to a slight seasonal slowdown in the third quarter as inventory& F, J  A, g1 B( Z+ m
levels rose. Part of this can be attributed to the fact that many renting
5 w& X4 A8 Y7 V. m& ~first-time buyers were motivated to close on the purchase of a home by July 1,: y- f  [' M, S- P" s
when rental leases expire in Quebec. Once this date has passed some of the
7 r. y" f" W- j4 `pressure is taken off the market, allowing buyers to visit more homes before8 B( i8 r, y. m7 i1 I: ]. l0 N
making a purchase.' C9 O% j" b9 `% p, c

- t2 N+ J/ l* n; G& n) b* G" x9 V    Ottawa held its position as one of the country's most stable housing
+ D' k( ^/ b* X6 P. xmarkets in the third quarter, reinforced by a vibrant local economy and strong/ w$ }2 K; A) W
confidence, resulting in modest increases in average house prices. The city: o. i3 h$ u- G0 k6 [& F
centre remained a bright spot in Ottawa, with homes in this area attracting3 t! L3 m$ S) O4 l
attention due to their convenient location and proximity to downtown
* \$ T" h- T  C( M6 L7 Eamenities.% S3 p; Y: F% x0 [
6 Y* J# n+ J! A+ H
    The housing market in Toronto sustained healthy activity levels
# }( ^' |# n7 A9 y, `# Zthroughout the third quarter, as a strong economy helped to maintain demand
2 C: i! [- \0 l' Sacross the city, causing average house prices to rise moderately. Toronto has5 C( S+ x- C6 i+ P
continued to experience modest growth in average house prices, and has been
8 j. p" g  e* _& ddriven primarily by purchasers who are buying homes as their principle2 V# H/ }. ?4 C, u, n: Z7 l
residence, rather than for investment.& u; R! _( ~0 P0 r; v8 }

- }6 U* F- \  {' t; [( m. ^    The vibrant Winnipeg housing market continued to show its strength as
2 S# h0 w' I' ~+ [house prices rose during the third quarter. The booming local economy resulted
  g6 F) E: R3 o6 X# i3 Rin a historically low unemployment rate, helping to bolster consumer3 o4 ]; ^" }0 B0 h: j) h4 S
confidence and Winnipeg's ranking as the city with the lowest capitalization
) P& x1 ^1 ]8 C! g3 mrate among the country's larger cities - helped to encourage buyers to enter
& Q9 u4 w: j3 J' B% ^the market.
8 Y4 T4 e* d9 z" H# a0 L- {
7 E! W5 b  X# j  H$ |2 }    In Regina, the market experienced a slight seasonal slowdown through$ r: d! e; M" s( z
July, as there were fewer purchasers in the market due to summer vacations. In( o# Z( x- l8 R
August, activity resumed to the busy pace previously seen in the spring6 Q4 X7 d  ^# @% E5 n
months, as the influx of purchasers made it more difficult to find a home due8 i, \$ s  Y1 N6 ^' z
to the shortage of available inventory.& \( y; M- \. V5 L1 M$ j
: |% V7 |/ M; e* r- _2 h: J* h& b
    Activity in Saskatoon remained brisk as the market maintained its
. |1 n$ [8 |! r8 y1 F- pmomentum from the busy spring sales period. The economy in Saskatoon remains
# X7 i, R& V+ z# |( y( ~2 ovibrant, as employment opportunities are abundant with many businesses& e  e6 c7 r. E- n
struggling to make hires and having to recruit outside the province.
4 p9 `+ f/ B3 Y. _) P* K& f' t6 e( F7 _1 ~
    Calgary's housing market recorded blazing average house price increases1 ]! s2 W+ P; r
in the third quarter, in all surveyed categories. The burgeoning economy, low$ S4 \: W" \: I, f  B
unemployment rates and low inventory levels remained the leading factors that- I2 Q% G1 m/ y$ F/ |
pressured Calgary's house prices upwards. However, regardless of the soaring  c* _+ s6 ]; r6 x
prices that characterized the market - even during the typically slower summer
% k7 {+ B, a; j2 {season - it is expected that activity will become slightly more balanced, as
5 c: [3 y+ b- K9 |buyers are becoming more reluctant to participate in the frenetic activity.

  n* X$ w- g9 z& f! V; p- P( t5 }
    Edmonton's booming local economy continued to thrive in the third quarter
: x% }; o  s4 [1 o/ x' m, has activity in the oil sands north of the city continued to flourish. Edmonton
! R, L7 \3 O# b# H; ?remained the hub of activity for those coming to work in the oil industry,' h5 g6 R7 V9 U
maintaining tight inventory levels across the city, resulting in prices
8 |5 m8 M! m! U* E* K8 K2 qincreasing at record levels. However, as inventory levels continued to improve1 S3 _+ w6 e8 N8 T
in the third quarter the rate of price appreciation should moderate slightly
9 @0 ]) w  V. |) p( utowards the end of 2006.
   
; ~: y3 y& a' [5 W
# Z5 |& P' j- ^3 E" \; a  U# Z; `  OWhile Vancouver has seen a slight reprieve from the severe shortage of& J" C+ ^# Z' P
inventory that had previously characterized the market, supply is still unable4 q* ]2 {  l% r6 s" r
to meet demand, driving house prices upwards. Vancouver has a very diverse/ r  ^( h, _, d6 V& y
group of active buyers - from first-time home buyers to baby-boomers to
+ a& F! ~6 V' A  B, q& r  Xforeign investors - all of whom fuel the demand for houses, placing added
4 L4 [: [% |% ~; qpressure on tight inventory levels.
5 c  R( N0 T$ A" G! o/ `' M1 I( U. f
    Victoria's market is vibrant and supported by strong economic- x( a2 _1 D: ?
fundamentals, fuelled by a booming tech sector and a migration of young people$ K& {7 w8 m6 h/ C  D
into the city that has continued to support the area's house price increases;
) l  G7 d5 t- I! twhile increased inventory levels have afforded buyers more time when searching$ c* Y* w) X" D& d; L  J9 F8 ?
for a home, helping to normalize the market's pace.
- v, N1 B2 \! K; K5 V6 d- ~
$ x9 _# N/ L! v/ r  e$ p+ {    <<! ]0 P1 x# |! B( a) F8 J
      Survey of Canadian Average House Prices in the Third Quarter 2006
1 }8 Y4 I  \, B, V. Z4 _
. A8 ]/ o# n4 d+ b! W9 y0 c; T    -------------------------------------------------------------------------
4 A  h* x) |' P                 Detached Bungalows                Standard Two Storey
9 p1 E: d3 l2 {4 M7 ~3 `1 a3 K2 o    -------------------------------------------------------------------------
8 W1 j6 D, h  x$ J0 l# A2 x                     2006 Q3     2005 Q3    Bungalow     2006 Q3     2005 Q3) X! a- ?) a1 D5 C6 k
    Market           Average     Average    % Change     Average     Average
$ z; l" E  i9 W3 c) Q5 P. c    -------------------------------------------------------------------------
& n8 p0 Y! o$ o- B6 `* a    Halifax          186,333     173,333        7.5%     198,667     199,000
7 |7 E& S6 I0 S2 d+ t' s    -------------------------------------------------------------------------
8 o  h/ @0 [/ b" t    Charlottetown    145,000     141,000        2.8%     175,000     170,000
2 x* H* P8 V8 k' b9 K4 z. c    -------------------------------------------------------------------------& L, s/ g' X( s: ]' J) `/ o
    Moncton          135,000     127,000        6.3%     129,000     123,000
2 n) t" d6 ?3 h3 M0 d    -------------------------------------------------------------------------
$ f% Q( d; h+ X! w  i0 f3 ]    Saint John       141,200     142,900       -1.2%           -           -
7 x. d& F; P6 K, N9 {$ g( l    -------------------------------------------------------------------------
8 F  A% p/ w; k( ~7 @# O, c( Y, {    St. John's       143,667     142,667        0.7%     200,667     202,333
8 {' p  ^* ~8 _# ]    -------------------------------------------------------------------------' o% u( h3 x; M" `0 M9 |. E9 a
    Atlantic         150,240     145,380        3.3%     175,833     173,583
" `9 L. b& }$ T8 |( ~1 M    -------------------------------------------------------------------------
: m& z4 H. B2 B2 G! n$ e    Montreal         213,691     203,500        5.0%     321,141     316,1854 p* U" P* S% ?7 E: Q
    -------------------------------------------------------------------------3 o( w' o- R+ |) @2 k: v
    Ottawa           290,083     278,417        4.2%     285,667     273,250" Z! G* C$ q2 ~( B5 ^7 i
    -------------------------------------------------------------------------  D* W; v+ c' C0 v1 W; D( n
    Toronto          373,368     355,882        4.9%     481,523     474,766) I  a3 N' z8 {
    -------------------------------------------------------------------------
- O; o  l( [- O0 c    Winnipeg         181,579     159,860       13.6%     202,337     180,7078 G. o& d, @4 s$ _. F. G7 l) T' j
    -------------------------------------------------------------------------
7 ~5 E- D; s1 B  t7 P) U    Saskatchewan     170,667     156,083        9.3%     182,600     166,500, `) t4 r3 E* c& m4 H
    -------------------------------------------------------------------------
2 ^$ x4 Q: a2 z$ k    Calgary          395,067     252,411       56.5%     405,778     264,389  q& z7 v, w$ A$ w6 J3 t6 _, h
    -------------------------------------------------------------------------
0 P7 z8 O6 P: n5 g7 ?0 O  X! {    Edmonton         286,857     194,857       47.2%     316,429     206,714- M/ W. K" j% L$ K2 P. L$ s
    -------------------------------------------------------------------------
" E" s4 F( I' a+ I& i* F: A    Vancouver        704,250     601,000       17.2%     794,000     697,500
8 g* T$ o! o" x9 c4 ~    -------------------------------------------------------------------------" i* D. R; k8 N9 G, U
    Victoria         375,000     348,000        7.8%     403,000     391,000
5 O) I1 f, i1 R( g/ z, f+ X3 D    -------------------------------------------------------------------------7 B+ h, w& _8 R, s( T
    National         300,365     258,202       16.3%     365,380     322,8601 y: Q+ n" }( L) K& i) E
    -------------------------------------------------------------------------& a' @& `2 H4 |2 i# O, G$ F: L

& _; g. M9 C9 k8 P    -------------------------------------------------------------/ k& \8 B( @- B4 ~" T3 R* l' M0 x! \. H
                               Standard Condominium
- \& Y7 Q; I6 K, u4 J7 m    -------------------------------------------------------------, {; N; \4 [5 X- x" Q; ~  ^
                    2-Storey     2006 Q3     2005 Q3       Condo
6 R. h3 T" ^) K: X1 \    Market          % Change     Average     Average    % Change3 a1 t; @$ u# h) o1 ?% Q  e- U2 t8 v
    -------------------------------------------------------------
: c5 g' O: {  c, g" [    Halifax            -0.2%     142,000     103,000       37.9%
( v9 U4 P& v" v; A! P/ B    -------------------------------------------------------------
/ [: W. l( R' n    Charlottetown       2.9%      98,000      98,000        0.0%. c& K* h: i# {
    -------------------------------------------------------------. ]! y: `# j" L( @
    Moncton             4.9%           -           -         N/A: x! k/ o) r8 m
    -------------------------------------------------------------: ?( G2 T, ]; Q- I3 ]6 }
    Saint John           N/A           -           -         N/A
: x$ X" n, v5 _/ ~" P. b1 \) e    -------------------------------------------------------------* I  u7 @- j+ D' U9 A. B6 ]
    St. John's         -0.8%     146,333     145,667        0.5%
# G( ~& E7 q2 B; f    -------------------------------------------------------------
/ V6 y& P* R$ [" d- B- Z2 `* @3 X    Atlantic            1.3%     128,778     115,556       11.4%
' I+ P  a* s, r4 i6 P3 Z    -------------------------------------------------------------8 H6 l  M. N3 u1 t, N8 M
    Montreal            1.6%     193,190     188,016        2.8%5 K8 D4 e7 |* H8 i6 U
    -------------------------------------------------------------
7 f; L8 c8 ~, v+ k  k6 N+ R$ t3 e    Ottawa              4.5%     181,083     172,250        5.1%
% l- d0 l; W1 u8 C    -------------------------------------------------------------. y$ O6 y( u0 f( D3 w
    Toronto             1.4%     252,088     242,918        3.8%
, A* V" s/ `8 u; V2 q* I    -------------------------------------------------------------
; i0 K: b' p3 J: j# v: t+ o" p    Winnipeg           12.0%     105,648      96,008       10.0%
  ^4 Y) ~5 `( L4 i: q    -------------------------------------------------------------9 \% p' ?- [7 F1 P
    Saskatchewan        9.7%     106,250     101,000        5.2%/ F9 o( x9 X# F0 g
    -------------------------------------------------------------
1 j4 B5 c0 C) v- n  i* l& b7 ?$ ?    Calgary            53.5%     245,844     153,867       59.8%
; M  n7 y# n  ^& x9 J    -------------------------------------------------------------
' G4 x9 S/ M$ x# }9 k    Edmonton           53.1%     200,433     131,500       52.4%* K  e" L+ k; l0 j' g! y% T  D
    -------------------------------------------------------------
8 G2 t; v) N+ \$ f; A5 g    Vancouver          13.8%     366,250     323,250       13.3%
, ?/ w% N: H$ W9 C7 r1 J    -------------------------------------------------------------: E; ^7 P8 t9 _
    Victoria            3.1%     229,000     220,000        4.1%: w& _' {) [! y$ R
    -------------------------------------------------------------
: ?- u* A+ D8 T4 K2 s& \    National           13.2%     211,562     185,296       14.2%; F7 Y* u* T# Z: W
    -------------------------------------------------------------
, q* H0 a' p+ F: B  k    >>
! a$ i+ X+ P4 W! V! e7 Q0 ?/ y! C% [$ ]6 A
    Average house prices are based on an average of all sub-markets examined( w9 T, D5 V: Q; }8 }. E2 O
in the area, except for the smaller markets of Charlottetown, Moncton, Saint' @! }$ S1 W& G+ V& W
John and Victoria.2 }2 K/ H% L* e" |

3 Z# g- \' ?- @+ L2 P! z    The Royal LePage Survey of Canadian House Prices is the largest, most
% E! o: Y4 h5 T' Q; o, L7 z, ccomprehensive study of its kind in Canada, with information on seven types of
+ t5 h/ ?2 {+ q9 S$ F3 Fhousing in over 250 neighbourhoods from coast to coast. This release1 C4 P+ c( Y, }
references an abbreviated version of the survey, which highlights house price) W: i2 {  ~. g( {
trends for the three most common types of housing in Canada in 80 communities
9 D6 x8 z) M: r# x: facross the country. A complete database of past and present surveys is
9 Y1 X( P( e* h/ y( i/ cavailable on the Royal LePage Web site at www.royallepage.ca, and current
+ w' _, B- D+ W9 mfigures will be updated following the end of the third quarter. A printable, J) l2 f; z0 @. k8 ]; q( z
version of the third quarter 2006 survey will be available online on% j4 i; a- V$ i: r* |
November 15, 2006.4 _# g/ u( b- b( e1 E: p
    Housing values in the Royal LePage Survey are Royal LePage opinions of/ ]: @6 d5 Z' Q& d9 e
fair market value in each location, based on local data and market knowledge
# o5 t" X% k+ Q( h6 x' Aprovided by Royal LePage residential real estate experts. Historical data is
/ ^3 _2 B' J! W2 i: o- T$ [available for some areas back to the early 1970s.
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