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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
; i( q1 M6 `! f2 a
) Y- j2 v) B0 m4 u( m- Country's market poised to show growth throughout 2006 -
, |+ k( X) t& X! t8 g6 _
+ F& P4 E  U) e* d' y4 ~    TORONTO, Sept. 28 /CNW/ - For most of Canada, the housing market
& d2 o; R' ^( o1 ~" P4 yexhibited moderate price increases and stable unit sales during the third
+ l% o# K  }+ a7 B5 Jquarter. Wide regional variances continued to be the dominant characteristic6 }7 ?9 L# O' g& K! b: w
in the market, exemplified by frenzied levels of activity and double digit
% W* F; T2 A5 Bprice gains observed in the energy and commodity rich Western provinces, and
3 I$ }7 l/ R/ L' _2 k/ Fmore reasonable sales volumes and moderate price appreciation in Ontario,4 _4 [! u: H: p
Quebec and Atlantic Canada, according to a report released today by Royal
3 p( y. H/ y7 ^4 ~5 hLePage Real Estate Services.
5 F# W$ c3 l, E# O4 C* d
8 v/ H/ y! h! A, k; C- L    Nationally, market trends established through the first three quarters. ]8 ?- Z) a) D9 j
are forecast to continue for the remainder of the year. Robust economic
/ r3 L* j0 a& K! n& W7 M* h- pconditions, low unemployment rates, modestly growing salaries and wages, and
; N) `; h4 h- S. O$ Isound consumer confidence contributed to the overall strength of the0 ]* @0 c! w' |8 I6 Z" n$ J" i5 f
residential real estate sector.. G/ U# Q4 i$ j( N( V

- Z* H) N$ `8 j  x    Of the housing types surveyed, the highest average price appreciation" ?6 i: r! `- A. S' O$ U
occurred in detached bungalows, which rose to $300,365 (+16.3%)
2 e  M2 X; e6 _7 ?6 d8 fyear-over-year, followed by standard condominiums, which rose to $211,562
) h' P9 y- z! G) ?9 }# D4 c(+14.2%), and standard two-storey properties, which increased to $365,380
) Q2 ^% [4 E0 ^$ m0 Z$ [(+13.2%).
  `* [; @4 p* B) q2 B0 ^: ]: @/ g" {8 |
    "Canada's sturdy housing market continued to demonstrate steady growth) D9 r/ `. i8 B- }* s, {7 Z0 a
during the third quarter. For all but the west, we have moved on from the9 T: _" p' E# L' e1 W9 [5 {
frenzied expansion that characterized the first half of this decade, and are
/ S. s7 g" C: C+ i$ r. \6 l& Q7 Fpoised to show continued growth at a more moderate pace," said Phil Soper,
( k, {9 r6 Q+ g* Ipresident and chief executive officer, Royal LePage Real Estate Services.
, T0 J, Z, a, X: o- V8 ?"Gone is the sellers' market that we have lived with for some years. We' l' j0 l( i# S0 i
welcome the more reliable conditions that are characteristic of a healthy2 I- ]. y& z+ V$ n3 p2 b. h8 V
balanced market.": P8 Z' c; Y  Y7 {" M! V! x9 {
2 p/ \: c" G/ `9 h6 \( ]0 q
    Despite the double-digit rise in average national house prices,
3 a) H, B' z+ _. F3 P0 |considerable regional variances were exhibited again this quarter. The shift
' f; _5 t0 u# l$ h. lto balanced market conditions, which began in late 2005, has continued: e6 l: J: ]" }+ b1 c! Q
throughout most of the Central and Eastern regions of the country. In the core
% }9 M9 f3 N$ L* o8 ~energy producing western provinces, the combination of very high in-migration,
0 U9 v9 B4 g; H2 U1 xmanageable affordability, and a shortage of inventory has driven record4 Z5 I. ]$ F6 @4 z
breaking price appreciations.
3 I0 |7 s! n" J/ ^! B
- r1 Z( I2 z1 A1 E    Echoing the second quarter and supported by Alberta's rapidly expanding3 I- ^9 \4 P# `( H; W/ @) Z
economy, Calgary and Edmonton led the charge of Canadian cities with the
5 h# H& {) R9 P8 {: l. zlargest house price appreciation in all housing types surveyed.
2 S/ ]8 l& S% `! X/ E* E3 E, J7 ^
; `/ l8 m( _( w: G5 f, N: P    In Ottawa and Toronto, growth remained steady, supported by solid- K4 P; ^$ U9 i. S9 F/ v8 Y
economic fundamentals, an increase in available inventory and strong consumer/ r* P; \) Z" L3 q" B7 O7 g; y' W
confidence. While the pace of price appreciation in Ontario leveled off
* f7 e# A2 g: Hslightly, the province's real estate market remains poised for modest growth.
( |5 b! P. ?  x: i: iIn Atlantic Canada, new housing and condominium construction offered buyers
( V$ h' v! D4 A6 @greater selection at more competitive prices, resulting in a slower rate of7 }6 s  b  y/ r1 k7 |
price appreciation when compared with 2005.
1 R- _& C: W, M+ D" R0 x! P) P, K# }8 t' E1 b1 z) b
    While the pace of growth in Canada has slowed, the domestic housing
8 ^$ p& A/ i. amarket is expected to outperform the American market. The economic and
$ r5 ~2 i* z5 b' |# Vfinancial fundamentals driving the residential real estate sector in Canada
8 T3 S& T# j1 ]( aare markedly different than those found in the United States.
+ h- \. ~7 d7 r2 J8 ]2 }' p% r7 b( Z" u( K2 ^* Y
    Added Soper: "Canada's housing market is likely to outperform the/ x2 A3 i) q' k$ O& T9 F( G5 ]
American market through 2007. A number of factors are working in Canada's
& N- b6 _( n1 \8 j7 Rfavour, including healthy personal and governmental debt levels, the
4 s# p3 e& d9 mrelatively modest rise in interest rates in our country, and general
# Y$ `7 H9 I2 U7 ]: ^affordability in our major cities. In addition, Americans are now seeing the
; W- G& D2 N7 a! y2 ~downside of a tax system that encourages maximum homeowner leverage, and
4 r8 \. u- M) i; q$ Paggressive financial products such as zero- and negative-amortization! E- o' l5 k; K/ j  F- [6 D
mortgages that work only in a high price growth environment."
3 U& J5 @0 l' V7 Y: W* G' R( \6 ]2 p. U5 ~" }. s
    <<6 u- a- w5 y0 Q
                             REGIONAL SUMMARIES/ H5 [4 D8 j- z9 H, D- F
    >>' x6 I- {- X8 z$ i: o% z

. s; a! @( M/ l/ ~% u% k+ K# J* c    Balanced conditions continued to characterize the housing market in
3 g7 S1 ~1 d5 V5 {9 RHalifax, as significantly higher inventory levels helped to moderate the rate6 F, I8 u$ L0 A" q% B( S8 a
of price appreciation. Buyers were increasingly choosy, taking more time
- C, M$ ?/ W2 K( v$ E  Vlooking for newer, low-maintenance properties that were not in need of! s+ @% O, g% f: U5 E3 J" V
renovations.
* P" o2 @% ^1 q$ R! J0 [1 z9 O. O0 q
    The housing market in Moncton remained healthy and strong as a slight5 X7 {0 @& @" \8 P9 h
increase in inventory helped to moderate the rate of price appreciation7 O# e! b7 W' u9 x, M% ]' J
compared to the same period in 2005. Activity was brisk throughout August and/ l; h  Y) O0 T
September and is expected to remain this way through the fourth quarter.
# B9 q2 O4 D# y! _& E- h: c$ g1 r' ^* r/ ~- q9 N. I
    The housing market in Saint John underwent its traditional summer
# S* y" G8 F6 V8 X5 P6 k) s, Nslowdown in the third quarter, with activity picking up towards the end of the
# x/ g- e4 B1 c; c0 m/ E, Aquarter. The local economy continued to thrive, as construction on a new
; E- I. ~" f5 a- @* h600,000 square-foot shopping area has begun, bringing several new box stores
$ v5 r9 y. x2 Lto the area. Buyers have begun seeking less expensive fixtures for their homes
; Y" v$ ^9 ]+ w! n6 land are instead opting for more affordable housing options.3 `% H2 d0 |+ l4 z1 A
% G  }' V, s4 a7 H
    In Charlottetown, the housing market started to move towards balanced( {) N3 M. Q- O5 Q/ V5 Q9 k6 V* w' J
conditions, as some sellers had to begin to lower the asking prices on their
2 T& [- N: ~: S5 t* c$ k: Qhomes to make them more competitive. Activity from out-of-town and US buyers
( O( Q7 ]3 G, fwas down slightly compared to 2005, likely attributable to the strong Canadian
" g% n+ h1 A! d/ j% v# _* Y% ?- Tdollar. Inventory levels began to creep up in the third quarter, providing
+ l, s5 @% ?# O' v# Bbuyers with more options when looking for a home.$ q5 f, ?9 j  L. z) ~2 q6 C, A! ^  R6 ^
  f( f& N8 N- m: a- c
    Activity in St. John's slowed slightly in the third quarter, particularly
6 X7 S) o! }4 O0 \4 Damong higher-priced properties, where there was a slight over-supply of homes6 K* I  _! I& P+ v4 M$ @
priced over $200,000. Listing periods have increased when compared with 2005,& m; n/ ]1 m# \( x7 ]5 v1 ^/ N
as some of the pent-up demand that had characterized the market over the last* x* v% V* L9 d# j: v
few years has been satisfied, resulting in more normal, balanced conditions.
1 b) n0 K/ e4 E6 w" \) c0 v  w5 E+ g0 b
    Montreal's housing market recorded modest increases in average house8 r+ y# W% w7 s- X2 e# H7 a; C
prices, due to a slight seasonal slowdown in the third quarter as inventory
. x" m& |3 c- Y* R( flevels rose. Part of this can be attributed to the fact that many renting! V! i. \! p1 G: S) o
first-time buyers were motivated to close on the purchase of a home by July 1,! t8 X4 `& y) ^! E: l- q) @
when rental leases expire in Quebec. Once this date has passed some of the% z" [% z8 j, ?7 z5 @
pressure is taken off the market, allowing buyers to visit more homes before; g0 e3 a  g* n% N% g( b! U5 U
making a purchase.
( o7 o$ i/ b" Y8 G) X* e3 H
6 ~3 u+ R* c- m1 ]7 d- E    Ottawa held its position as one of the country's most stable housing
# c0 c+ c; |9 l4 fmarkets in the third quarter, reinforced by a vibrant local economy and strong
  O6 `2 S3 n9 s) F. Y% vconfidence, resulting in modest increases in average house prices. The city
* Y) D. x" E  N' D) kcentre remained a bright spot in Ottawa, with homes in this area attracting% ^3 H3 c% H- P* M
attention due to their convenient location and proximity to downtown
1 v1 n2 _& h) k) ?$ |. v4 G/ n" q  Samenities.
, ~* @2 Y* M9 P) v" l! G$ X0 q1 |. v6 q/ {9 u, N4 C
    The housing market in Toronto sustained healthy activity levels
  F% Z* c0 F: O3 a* zthroughout the third quarter, as a strong economy helped to maintain demand
- y( ?2 V- J7 s, nacross the city, causing average house prices to rise moderately. Toronto has
) D7 `$ @  P5 G% _( M8 ocontinued to experience modest growth in average house prices, and has been
5 ]5 q: P& J# s9 D' pdriven primarily by purchasers who are buying homes as their principle
/ V' {* O) q0 `& f6 c7 Hresidence, rather than for investment.
! Y. t3 q. @" I* }
2 |7 k$ c- x  z7 c: p    The vibrant Winnipeg housing market continued to show its strength as
5 I  \3 O+ K' Q' b4 P) b, ahouse prices rose during the third quarter. The booming local economy resulted
8 \8 u% g7 h" j3 H; p. qin a historically low unemployment rate, helping to bolster consumer
4 c0 ~( I& _. R, j' oconfidence and Winnipeg's ranking as the city with the lowest capitalization9 z) M: e+ b0 j- ^5 {3 ], k# O
rate among the country's larger cities - helped to encourage buyers to enter; Z7 d- U7 f8 b1 p4 y" s
the market.
" ^9 U3 H$ C% T% g+ ~; L3 A2 y, ~( @$ J. |! u( `  A  J8 h/ C4 z5 a3 _  {
    In Regina, the market experienced a slight seasonal slowdown through
# @' F8 a1 ^9 J" UJuly, as there were fewer purchasers in the market due to summer vacations. In/ f/ N2 Z' @! n7 W
August, activity resumed to the busy pace previously seen in the spring5 L7 \- Z  c, B
months, as the influx of purchasers made it more difficult to find a home due
$ P2 w( n) s) ]. a4 F. [& [to the shortage of available inventory.
& k: @- R. O5 ]& U/ U' _
- F5 d9 s8 M5 @, D0 s$ A    Activity in Saskatoon remained brisk as the market maintained its/ S% p% n4 C/ l9 E7 P
momentum from the busy spring sales period. The economy in Saskatoon remains
3 C1 p5 ~& F. N+ f  w* ^9 |* ]vibrant, as employment opportunities are abundant with many businesses) o" ~3 p; e$ H+ z
struggling to make hires and having to recruit outside the province.
( R- V' V4 X7 E2 t7 p
1 ^1 ~# t# ]; I( V2 u    Calgary's housing market recorded blazing average house price increases
9 K' f+ K# @9 C) @! gin the third quarter, in all surveyed categories. The burgeoning economy, low/ s! h4 S9 h; `' o+ U) o) m
unemployment rates and low inventory levels remained the leading factors that, q4 F/ h: b" s; e. Q+ y7 `" ]
pressured Calgary's house prices upwards. However, regardless of the soaring+ F- W7 J; r! C! L
prices that characterized the market - even during the typically slower summer
1 q4 A" m8 \$ ~  v1 i0 Lseason - it is expected that activity will become slightly more balanced, as) o* k. {& n% l
buyers are becoming more reluctant to participate in the frenetic activity.
9 J0 y9 ?/ j4 ]/ i9 B3 _- S
' i/ m# H2 G5 R7 N+ Y  w
    Edmonton's booming local economy continued to thrive in the third quarter' Y  R! {6 m$ [3 N, n
as activity in the oil sands north of the city continued to flourish. Edmonton
8 ~4 Q- W# n  Cremained the hub of activity for those coming to work in the oil industry,9 D- F" A8 q$ e: @# X0 }! A) Q: u
maintaining tight inventory levels across the city, resulting in prices+ c& e' H, O( e0 Z
increasing at record levels. However, as inventory levels continued to improve
+ p& U5 [* M6 ?: s4 uin the third quarter the rate of price appreciation should moderate slightly
6 y: {* w) s9 S3 h- S& wtowards the end of 2006.
   
! i, Y5 t  ^2 b0 O& W' {0 I4 f" _+ n" e( C% B- E
While Vancouver has seen a slight reprieve from the severe shortage of
8 Q. H4 u' J0 cinventory that had previously characterized the market, supply is still unable3 X) G/ W0 X- G" B) _% x4 E5 w$ J( _
to meet demand, driving house prices upwards. Vancouver has a very diverse0 F. B, v4 i2 ^, [
group of active buyers - from first-time home buyers to baby-boomers to
2 S# M6 B  P- S) M; Jforeign investors - all of whom fuel the demand for houses, placing added3 }( H& S; `; L3 ~) V! T: R4 R, P
pressure on tight inventory levels.' G' U9 O* N+ q0 t- q& @
% H! ~( H% I6 U
    Victoria's market is vibrant and supported by strong economic
/ x2 @5 G; l/ v: i$ Kfundamentals, fuelled by a booming tech sector and a migration of young people2 ~( p8 f8 u- v2 a
into the city that has continued to support the area's house price increases;( y9 |. {7 J, A3 f2 D
while increased inventory levels have afforded buyers more time when searching' y! g6 l2 y' k5 S' l& t. X  k1 V( P- D( B
for a home, helping to normalize the market's pace.
) ?, l% ~8 z1 x/ l
0 v1 i# G0 j. ?& ~6 @  T, O    <<+ i6 G2 q. B# }& ~) ?  T6 ~
      Survey of Canadian Average House Prices in the Third Quarter 2006* c2 b/ d! ]' p. w- W

5 X' s2 t* ?! a+ I+ ^. p    -------------------------------------------------------------------------- D& @1 w6 u* i) Z
                 Detached Bungalows                Standard Two Storey
+ J0 C: w3 M. V    -------------------------------------------------------------------------1 o( u+ b/ R! ^9 T, b, y6 D
                     2006 Q3     2005 Q3    Bungalow     2006 Q3     2005 Q3
  E! g* ^' H# N+ ^6 p    Market           Average     Average    % Change     Average     Average
- x8 f6 U. g) L! ]& @    -------------------------------------------------------------------------
' l% q% M* Q8 L: i    Halifax          186,333     173,333        7.5%     198,667     199,000
7 Y/ l0 k( J9 ]2 |    -------------------------------------------------------------------------
/ \- J9 y% f0 W2 a2 Y; ^3 I9 v    Charlottetown    145,000     141,000        2.8%     175,000     170,000
2 s9 ~9 W6 l$ K    -------------------------------------------------------------------------
0 f  m& a3 f$ M5 q* M5 P7 u# g1 x    Moncton          135,000     127,000        6.3%     129,000     123,000
% T& J% ]1 f0 Q' `( O9 Y    -------------------------------------------------------------------------
9 d& r6 `! A+ y" r3 g1 T    Saint John       141,200     142,900       -1.2%           -           -8 h/ H/ s6 U) @' x- O
    -------------------------------------------------------------------------( ^7 d" [4 X# ], e5 x3 k% m
    St. John's       143,667     142,667        0.7%     200,667     202,333/ X  K" k6 ~  J
    -------------------------------------------------------------------------* u) }$ U, G0 K' F. v
    Atlantic         150,240     145,380        3.3%     175,833     173,583
; B9 s  A% A( g4 e/ l& k& G    -------------------------------------------------------------------------
7 @7 |/ ]7 M& p3 l: n; }9 ^    Montreal         213,691     203,500        5.0%     321,141     316,185
. r& q9 ?( o( H8 T- K6 v    -------------------------------------------------------------------------
# R0 ]" w7 L7 w    Ottawa           290,083     278,417        4.2%     285,667     273,250
3 o' V: K% R  w1 f    -------------------------------------------------------------------------
6 G' X3 N1 X7 c3 I6 j& b$ H    Toronto          373,368     355,882        4.9%     481,523     474,766
, g& C5 }6 I& W  ^    -------------------------------------------------------------------------$ S7 \7 v- ~4 I0 H; ]
    Winnipeg         181,579     159,860       13.6%     202,337     180,707
: b7 ~8 h* U% n5 f  e' `    -------------------------------------------------------------------------4 q4 n1 y7 [+ O5 N# F0 r. r4 o# i
    Saskatchewan     170,667     156,083        9.3%     182,600     166,500
" j3 i# x% J( l( B! [  g, ?    -------------------------------------------------------------------------
" ^& ~( ~' K! J, F; ~    Calgary          395,067     252,411       56.5%     405,778     264,389- ~; N  M1 B+ N
    -------------------------------------------------------------------------: `: k% B$ S- G9 ~$ A6 D
    Edmonton         286,857     194,857       47.2%     316,429     206,714- I0 k- k4 o$ e, O/ z" L( h/ U# L/ z$ E
    -------------------------------------------------------------------------: V0 x; J, X. k" I& l7 E
    Vancouver        704,250     601,000       17.2%     794,000     697,500
+ ]2 A9 Y* J# B/ v. S- w  |    -------------------------------------------------------------------------
( b6 w0 C# A# M4 B0 j6 X7 V4 G    Victoria         375,000     348,000        7.8%     403,000     391,000- H2 ~1 I6 E' `& i1 P, Y8 n( L3 O
    -------------------------------------------------------------------------
9 q. J& M: F* B. g$ S, F    National         300,365     258,202       16.3%     365,380     322,860
) C6 A) m- h' R% K    -------------------------------------------------------------------------
. H$ g9 ?2 n1 z% s) J3 q  D
. x% }* b, d" k: u+ f. p; s7 i( E& m    -------------------------------------------------------------! K) e1 k) W- Z" \- I0 c) g0 z9 _' p
                               Standard Condominium! L; z* u: m7 c  f5 Q
    -------------------------------------------------------------
# L: B9 J, b0 T# R! |" {                    2-Storey     2006 Q3     2005 Q3       Condo6 K; N) n5 h4 G# S
    Market          % Change     Average     Average    % Change9 E# c8 o$ Z! n3 a' L7 c, z
    -------------------------------------------------------------5 Z- d+ a& m+ x2 |; ~/ i
    Halifax            -0.2%     142,000     103,000       37.9%
1 \* [% R9 Y9 C5 U- p* Z    -------------------------------------------------------------3 \& v& G3 W' ?2 U5 H) }$ s# p! y
    Charlottetown       2.9%      98,000      98,000        0.0%5 h7 G: q# Z# l+ f- s% [3 c
    -------------------------------------------------------------
2 }) B: ^! |' }; E    Moncton             4.9%           -           -         N/A
0 Z8 s7 u1 s7 ^6 c0 u; n2 O# o3 h    -------------------------------------------------------------
5 s$ y5 h; [, r! D    Saint John           N/A           -           -         N/A- Y& l8 Y. T! }
    -------------------------------------------------------------
% r  J6 k* e4 B$ n3 S* c8 I    St. John's         -0.8%     146,333     145,667        0.5%
) s8 d: X% ]" z2 @    -------------------------------------------------------------# [+ x1 u2 Y0 l( }
    Atlantic            1.3%     128,778     115,556       11.4%& x( K9 ^: e: Y( g# l/ m* W6 z; f
    -------------------------------------------------------------
; h( ]+ _3 e  F- d    Montreal            1.6%     193,190     188,016        2.8%' y, `$ G8 l/ s- z! U9 x6 l
    -------------------------------------------------------------5 O+ q' F9 p8 u. C
    Ottawa              4.5%     181,083     172,250        5.1%8 T7 D, C$ f8 ^6 I
    -------------------------------------------------------------: d$ X  o+ r& B. I+ t
    Toronto             1.4%     252,088     242,918        3.8%
3 r* T/ t8 R3 U) I    -------------------------------------------------------------
! @/ h8 G+ `' Y' a( e7 X) a    Winnipeg           12.0%     105,648      96,008       10.0%
& \7 k3 l4 k& W$ o, B9 P4 a7 s    -------------------------------------------------------------. j5 q! C  v, y2 }' p
    Saskatchewan        9.7%     106,250     101,000        5.2%7 F4 v% T, N6 V2 |2 w. n
    -------------------------------------------------------------
! D( ~# ~# _' e4 H1 y& g    Calgary            53.5%     245,844     153,867       59.8%5 R( }! \  S& n' a
    -------------------------------------------------------------4 h& ]& a+ p% \* I! Z
    Edmonton           53.1%     200,433     131,500       52.4%0 u% U+ K6 h/ S4 [9 L- T, W7 Q# p
    -------------------------------------------------------------
8 j: m( m2 s: f; M" x/ G    Vancouver          13.8%     366,250     323,250       13.3%3 [. Z. _) w3 K
    -------------------------------------------------------------, K0 n9 o3 A8 x& s# j/ z+ f
    Victoria            3.1%     229,000     220,000        4.1%
3 Z6 V( H" u; c) d! a) j    -------------------------------------------------------------
6 r* G5 D& E) b9 G/ b8 Q    National           13.2%     211,562     185,296       14.2%% e5 I# q( Y+ J2 s# |1 y0 J$ A, M# y
    -------------------------------------------------------------
, K9 j8 t# w  I' h  T2 F8 X    >>9 d) A5 k% g( R/ ]

2 k! o* m/ l1 Z5 c& F; @) {1 w$ b    Average house prices are based on an average of all sub-markets examined# N; w( E" W) b% `- E
in the area, except for the smaller markets of Charlottetown, Moncton, Saint  V; J) C) \* ~" y8 \1 L" j
John and Victoria.9 C& s6 F8 ?8 C, M3 j2 i1 H
/ i& Q( S/ _+ U
    The Royal LePage Survey of Canadian House Prices is the largest, most
3 D( ?: H: H8 _" [$ j* H' Q' p& B2 [comprehensive study of its kind in Canada, with information on seven types of4 A. {' j0 a: B' \+ z
housing in over 250 neighbourhoods from coast to coast. This release
+ V; u/ j9 B, o2 ?. ?+ n: ]4 a8 Sreferences an abbreviated version of the survey, which highlights house price
0 Q5 v4 a5 z6 S( m0 D! N7 n2 otrends for the three most common types of housing in Canada in 80 communities, r- {0 _8 D' c" ]6 k* D
across the country. A complete database of past and present surveys is
$ X5 ^+ q4 f' Davailable on the Royal LePage Web site at www.royallepage.ca, and current( {, R# T3 s! k2 F( t  G# x; |
figures will be updated following the end of the third quarter. A printable
- p8 c* `1 C4 O# p. Y, ]version of the third quarter 2006 survey will be available online on- |9 r+ r6 I) d* t' X
November 15, 2006.
' L9 r' o/ {  L* d6 z    Housing values in the Royal LePage Survey are Royal LePage opinions of
+ F+ f& q4 H/ {8 r( U4 ]fair market value in each location, based on local data and market knowledge5 ]5 L4 m2 r7 o& O* E! B" _
provided by Royal LePage residential real estate experts. Historical data is/ X: Q5 c" W8 E( d( i6 F: W* A
available for some areas back to the early 1970s.
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