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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
0 I  q/ x# |9 O& {& K- |) @5 y  }  `( C9 f, v
- Country's market poised to show growth throughout 2006 -; M7 e, ]* I' I$ _  j5 N9 W
4 |4 X- z, Q9 L4 g$ M; @
    TORONTO, Sept. 28 /CNW/ - For most of Canada, the housing market
" T6 x% z. W% [exhibited moderate price increases and stable unit sales during the third
: r; h4 K( z. r+ N' Rquarter. Wide regional variances continued to be the dominant characteristic
2 O2 L* t7 C) H! G; n7 i: i( ~+ [" Zin the market, exemplified by frenzied levels of activity and double digit* ?7 Q2 Z+ T8 \+ @$ f
price gains observed in the energy and commodity rich Western provinces, and; {7 X7 r8 K5 k5 K& c) J
more reasonable sales volumes and moderate price appreciation in Ontario,
9 X0 A% Y( k! @( V) o) r  p% LQuebec and Atlantic Canada, according to a report released today by Royal
3 j  S7 b! M' a8 M+ GLePage Real Estate Services.  u6 G; {( Z: e3 R4 a' u

6 K6 M# o1 R# E; N$ P    Nationally, market trends established through the first three quarters* H% [; ~$ ~5 _5 n8 z
are forecast to continue for the remainder of the year. Robust economic0 |. `3 ~$ c1 a5 O
conditions, low unemployment rates, modestly growing salaries and wages, and2 o( i5 {, I( o9 C5 l
sound consumer confidence contributed to the overall strength of the
4 S2 `4 M# F# x0 R& l! E$ {* eresidential real estate sector.
: U/ M* d# U: v" e8 ]7 Q# X
% w) J4 t$ w/ c    Of the housing types surveyed, the highest average price appreciation- C7 ~- f7 Q2 q3 z0 A9 x
occurred in detached bungalows, which rose to $300,365 (+16.3%). ~- K. E' K; S4 o" i
year-over-year, followed by standard condominiums, which rose to $211,5622 b7 i5 K; W, b; a1 z* O& y
(+14.2%), and standard two-storey properties, which increased to $365,3801 K  S/ |" @/ o5 ~" f1 k9 Q& Q
(+13.2%).% i$ k& I- _7 A; B' \0 \3 c, a

: L+ M  `7 x! ]4 B# `% F    "Canada's sturdy housing market continued to demonstrate steady growth  b; \6 Q5 s; P  B! `& ]) m
during the third quarter. For all but the west, we have moved on from the
; l1 Z8 Q/ `5 s/ t; N& ?frenzied expansion that characterized the first half of this decade, and are# N) `* L& _. Q) T7 R$ C; t1 x# x
poised to show continued growth at a more moderate pace," said Phil Soper,
# v: T, Y- i* x5 g' z* vpresident and chief executive officer, Royal LePage Real Estate Services.
# V/ k8 u+ w5 v4 k"Gone is the sellers' market that we have lived with for some years. We) Y+ R4 C. P( |7 T) m
welcome the more reliable conditions that are characteristic of a healthy; B" P' h/ r' x# S( Y" a( D
balanced market."+ ?& b2 w4 e$ {* E; y. I% [5 K. }
# ~- \' N3 ^. N9 e
    Despite the double-digit rise in average national house prices,
. z' q8 t" u5 Z7 K/ o# Kconsiderable regional variances were exhibited again this quarter. The shift
# T4 Z0 [, U- `  I8 Hto balanced market conditions, which began in late 2005, has continued
- Q8 m0 ~) @. wthroughout most of the Central and Eastern regions of the country. In the core
( @' |5 \: c, }" s: _& L  V( ^1 ^energy producing western provinces, the combination of very high in-migration,
8 ?: j7 H/ Z9 N7 {" d8 ^manageable affordability, and a shortage of inventory has driven record- |& J7 l7 f7 Y8 M) C
breaking price appreciations.
: ]* N; ~% A( N+ d' r1 i, Y. P/ E& x+ ?( N
    Echoing the second quarter and supported by Alberta's rapidly expanding; e# h! P2 y5 r5 ~1 I# Z" s" p7 t$ t
economy, Calgary and Edmonton led the charge of Canadian cities with the
, v  I0 O% I7 R0 @largest house price appreciation in all housing types surveyed.
9 L+ Q5 {* _- ^2 o) r+ ?2 @  B& K4 ?9 j" O; _
    In Ottawa and Toronto, growth remained steady, supported by solid4 M2 I; Z. A  a% A( x0 F
economic fundamentals, an increase in available inventory and strong consumer$ T" L. F  Q6 S# p# M
confidence. While the pace of price appreciation in Ontario leveled off" l6 ^3 t2 a1 m0 a% E- S- R
slightly, the province's real estate market remains poised for modest growth.. U6 f* Z! l& ?2 x' V1 l5 s$ V
In Atlantic Canada, new housing and condominium construction offered buyers
+ l# D  Q  g2 x' p( ~! W4 @  bgreater selection at more competitive prices, resulting in a slower rate of
: p9 q5 r4 A0 q. c# O/ j) |price appreciation when compared with 2005.7 T% Q% p& h; k$ @, `
+ c& Q' q- u- m9 i& [
    While the pace of growth in Canada has slowed, the domestic housing/ t/ ]# a, y3 ^6 G$ ^
market is expected to outperform the American market. The economic and/ l6 G& G1 m% D. C1 h
financial fundamentals driving the residential real estate sector in Canada( e+ M9 ]5 y1 b8 b2 d
are markedly different than those found in the United States.
) {$ R' K0 H/ h: h8 p$ C. P) ~# B7 }8 S: ^' i' k
    Added Soper: "Canada's housing market is likely to outperform the! ?( j& M1 S5 s' t! u
American market through 2007. A number of factors are working in Canada's
$ _# E( b- P9 E( _$ F% {8 nfavour, including healthy personal and governmental debt levels, the, K6 e2 O5 {; t
relatively modest rise in interest rates in our country, and general
! |0 N: h; W7 C) I# B; p( Maffordability in our major cities. In addition, Americans are now seeing the
9 l4 y+ X% O/ S: x- Y1 Udownside of a tax system that encourages maximum homeowner leverage, and
! K, I" k; n. [3 ?3 vaggressive financial products such as zero- and negative-amortization
4 y' G# f# D- c# Omortgages that work only in a high price growth environment."  }, u/ P5 o; R3 M9 Q/ \; m, t
3 l" V5 n, F* Q6 ]1 ?: h/ [
    <<
; ~' w$ a! L' y  u% X# C3 ~- J( U                             REGIONAL SUMMARIES9 F# ]2 p3 |* V/ [( G
    >>
6 a$ M) T: R' ]2 X7 ?$ h
! S' B* n7 W3 d' T+ w    Balanced conditions continued to characterize the housing market in
$ }5 [" w% Q; Y5 DHalifax, as significantly higher inventory levels helped to moderate the rate
  {5 @9 t  ^" B4 pof price appreciation. Buyers were increasingly choosy, taking more time1 o' v+ t' Q1 I9 T6 H0 U/ R
looking for newer, low-maintenance properties that were not in need of
) z2 _; |- U* q  K) C- ^renovations.  Q$ x; V4 y. t3 k
2 C- H! h4 Y$ N0 P( E: V( W" l5 m8 x
    The housing market in Moncton remained healthy and strong as a slight
! b+ @5 \4 O/ ^% Dincrease in inventory helped to moderate the rate of price appreciation
% a; D& |7 b0 K1 D1 |compared to the same period in 2005. Activity was brisk throughout August and( d) j& ~: ^6 K( a8 E
September and is expected to remain this way through the fourth quarter.2 ^3 y$ B8 A- T

9 B: v; Q, `* u4 D& E# \    The housing market in Saint John underwent its traditional summer
3 s$ G# M$ O4 u2 X" G  bslowdown in the third quarter, with activity picking up towards the end of the
( L) f8 i% r1 @! K* h2 p3 M+ aquarter. The local economy continued to thrive, as construction on a new
' s, M9 t7 c" k* f& q600,000 square-foot shopping area has begun, bringing several new box stores. \! K: G! M5 b  `) S) {4 R
to the area. Buyers have begun seeking less expensive fixtures for their homes+ Y% ^' e( h8 `' x
and are instead opting for more affordable housing options.
8 d6 N  ^8 J8 P2 Q; ?& y+ E# E) a' U3 Z1 L
    In Charlottetown, the housing market started to move towards balanced
, ^& C: w& I' J4 B/ Y$ n" J) [conditions, as some sellers had to begin to lower the asking prices on their
5 O" l6 |0 K# W5 \1 khomes to make them more competitive. Activity from out-of-town and US buyers( ~4 e& u* ^7 z& H4 }/ Q
was down slightly compared to 2005, likely attributable to the strong Canadian
: K$ Y) u7 x: {, B, Z) _dollar. Inventory levels began to creep up in the third quarter, providing  J7 k5 z, s, d. s
buyers with more options when looking for a home.
; k" C2 t9 N# c/ L* g' G0 a! q
, Z; W5 k- x& c8 w7 |7 ]4 F    Activity in St. John's slowed slightly in the third quarter, particularly
- ~. U* T( A' j' K5 ]among higher-priced properties, where there was a slight over-supply of homes
: A+ p$ s" ~9 M( wpriced over $200,000. Listing periods have increased when compared with 2005,
! M; v6 x3 s  e: p3 Y+ ^as some of the pent-up demand that had characterized the market over the last
( Z+ x- ^0 Z" ~9 T  ~/ efew years has been satisfied, resulting in more normal, balanced conditions.
4 n: E0 I5 A4 A: m* J; b2 j! K& N3 _* {
    Montreal's housing market recorded modest increases in average house
: t2 ]. x" P0 ?" lprices, due to a slight seasonal slowdown in the third quarter as inventory
/ d* |& n3 `1 H) X2 }levels rose. Part of this can be attributed to the fact that many renting, e. ]" J# ^2 X& M# z( W& t1 R3 X
first-time buyers were motivated to close on the purchase of a home by July 1,( [% k2 p7 K% ]' n0 \) l1 D
when rental leases expire in Quebec. Once this date has passed some of the: W7 |' i$ |! n* e- e
pressure is taken off the market, allowing buyers to visit more homes before8 f0 u/ d1 N# f
making a purchase.3 n4 n7 n( ]# q- s+ ]4 E

# n' C7 a; F. d# t2 S; o    Ottawa held its position as one of the country's most stable housing8 j5 m0 r2 ?+ ]% S
markets in the third quarter, reinforced by a vibrant local economy and strong
" L' h1 T1 u# Y' zconfidence, resulting in modest increases in average house prices. The city
9 Z" {* G8 y) `' K4 F0 ]+ t$ Ccentre remained a bright spot in Ottawa, with homes in this area attracting; C( F# @) J3 X; `
attention due to their convenient location and proximity to downtown
7 K, m7 {$ O: U* @, q0 h+ {! |amenities.
& J% e' Y1 C) R; F. h
( G, P* `9 B; z- `    The housing market in Toronto sustained healthy activity levels& r/ @- ~/ f! _+ I9 c! Q2 @' C
throughout the third quarter, as a strong economy helped to maintain demand7 F( O( P0 f: J: }" ?
across the city, causing average house prices to rise moderately. Toronto has  q# A' O1 r: i% i. y! H  Z2 {
continued to experience modest growth in average house prices, and has been3 K9 ?: S- {" k7 N& |
driven primarily by purchasers who are buying homes as their principle+ H! ~! v' R2 S7 t9 y2 h* e5 O
residence, rather than for investment.& Q0 }- `. [  I' y) X

6 y; d, P3 w# S) r! ^2 O5 f4 }* p8 y    The vibrant Winnipeg housing market continued to show its strength as" r  H# c* [7 W: [6 \
house prices rose during the third quarter. The booming local economy resulted
; c/ ]( v3 K: K9 h0 {  lin a historically low unemployment rate, helping to bolster consumer
8 T  L0 |, T1 S4 P) Y5 B7 Econfidence and Winnipeg's ranking as the city with the lowest capitalization
9 C) I  a5 v/ u+ X2 Rrate among the country's larger cities - helped to encourage buyers to enter
5 a1 m+ U; v/ ]* Pthe market.
& r2 U; E7 C1 }1 {+ w
& ]- [* [8 g) A; u! z* Z    In Regina, the market experienced a slight seasonal slowdown through, c  I  C( n  V& W/ J- w4 E
July, as there were fewer purchasers in the market due to summer vacations. In
9 b) M: X; x/ i, `August, activity resumed to the busy pace previously seen in the spring/ {# T9 R7 W+ F) o
months, as the influx of purchasers made it more difficult to find a home due# N3 r6 L* k+ y5 Q( K5 u- d/ M
to the shortage of available inventory.
" z- q9 P  T  p5 X9 K; j
8 c3 }0 |# }2 l/ a9 z    Activity in Saskatoon remained brisk as the market maintained its
6 }8 B* z* \6 z' \" C2 Bmomentum from the busy spring sales period. The economy in Saskatoon remains
( o/ b3 _5 p) l. S4 S# @0 s9 I5 o: Wvibrant, as employment opportunities are abundant with many businesses8 S  }  C" G8 z* {& q1 L5 h9 B
struggling to make hires and having to recruit outside the province.0 K7 a. A5 F- [$ ~* V
0 R) u( e1 I1 f  a7 T9 t# ?0 }
    Calgary's housing market recorded blazing average house price increases
0 d) J. [- p. g* q/ b, `2 ~in the third quarter, in all surveyed categories. The burgeoning economy, low
3 i2 N- z, ^# ~& z7 Tunemployment rates and low inventory levels remained the leading factors that
; M, e7 b: e, w& m8 Dpressured Calgary's house prices upwards. However, regardless of the soaring# R  m/ I, V2 D8 x4 B" Z% F
prices that characterized the market - even during the typically slower summer' s1 l5 e3 Y0 m  o+ m
season - it is expected that activity will become slightly more balanced, as* n, ^- n4 I9 X4 E) x2 N$ {$ v% z
buyers are becoming more reluctant to participate in the frenetic activity.

% d( A8 m  q2 X+ T  N5 `# M% \3 I5 n$ C- F9 H
    Edmonton's booming local economy continued to thrive in the third quarter' l$ v  g6 o. V( c2 P
as activity in the oil sands north of the city continued to flourish. Edmonton+ l% x- M- i( X" y
remained the hub of activity for those coming to work in the oil industry,
. V! r; J! g. c- L) Tmaintaining tight inventory levels across the city, resulting in prices
+ E: w9 Z3 Y4 w+ z7 s1 Vincreasing at record levels. However, as inventory levels continued to improve
; H* H: K# J0 h  [7 E* e, \& `in the third quarter the rate of price appreciation should moderate slightly9 T. ~. l9 F4 k; [
towards the end of 2006.
    : J8 k1 d4 D0 K2 z% p0 g
- o% N1 M, g# _1 Q7 p6 u
While Vancouver has seen a slight reprieve from the severe shortage of; D0 e4 B2 a' }2 Y/ [5 b/ r$ v
inventory that had previously characterized the market, supply is still unable" }* f- q* t# ^
to meet demand, driving house prices upwards. Vancouver has a very diverse
. Y( @. ?9 U' N) Q) Vgroup of active buyers - from first-time home buyers to baby-boomers to
- t; C- ?, N" t% Z* c& rforeign investors - all of whom fuel the demand for houses, placing added) F: U- j* t" }: n! ~; ^6 F* s
pressure on tight inventory levels.. \  n; P# w2 d7 {
/ ?' A" @6 ^7 Z8 c
    Victoria's market is vibrant and supported by strong economic
, A, F" w0 e2 a7 k* ?+ }fundamentals, fuelled by a booming tech sector and a migration of young people: o* @, n, T: w2 B, A, `
into the city that has continued to support the area's house price increases;: A/ V) D) i6 s# Z/ m" t
while increased inventory levels have afforded buyers more time when searching
' x* P8 Z2 o/ Kfor a home, helping to normalize the market's pace.
. O! L4 }; m- [) R' \" h' ~' ]9 U! _, F( j0 j9 [, g9 m! Q
    <<
+ G. ?. b' j' F7 ~; k5 i      Survey of Canadian Average House Prices in the Third Quarter 2006/ Q6 l1 D, t. Z0 d0 h8 u' U' X
: R# D* M# \6 o; W0 J
    -------------------------------------------------------------------------/ [% s4 R' j, _9 M
                 Detached Bungalows                Standard Two Storey
# u& s7 Z8 {* [: S0 D7 l) J    -------------------------------------------------------------------------: w/ t( w5 q, p
                     2006 Q3     2005 Q3    Bungalow     2006 Q3     2005 Q3$ }0 @, f3 D# R/ ?
    Market           Average     Average    % Change     Average     Average
1 m' I. ~* |5 [    -------------------------------------------------------------------------
. c" A. M# M2 e% A    Halifax          186,333     173,333        7.5%     198,667     199,000/ z- l$ z: f" }- G( g8 R
    -------------------------------------------------------------------------
# S% p: t2 V, }6 J* r  B    Charlottetown    145,000     141,000        2.8%     175,000     170,000
6 F# j) r6 e. E+ a$ J    -------------------------------------------------------------------------7 Z$ n) o1 W) B% R+ }& G6 s) x- f
    Moncton          135,000     127,000        6.3%     129,000     123,000& X6 U8 b8 N. Q
    -------------------------------------------------------------------------+ g% v  d6 H  L
    Saint John       141,200     142,900       -1.2%           -           -
$ u: ^8 q8 n. U/ O    -------------------------------------------------------------------------
8 R0 h' w! I# @) x$ C$ |# x. T    St. John's       143,667     142,667        0.7%     200,667     202,333: P2 {# x* R, Q6 D1 \7 [6 B" Z7 b
    -------------------------------------------------------------------------$ m, A8 i- |2 C1 l  x: g
    Atlantic         150,240     145,380        3.3%     175,833     173,583
' Y6 H9 l# d+ T. t- X2 s7 ^    -------------------------------------------------------------------------
: _! Q& Q2 n  I6 ]- p' n  `$ ]    Montreal         213,691     203,500        5.0%     321,141     316,1853 z3 v# Z0 l0 F9 P  e3 R
    -------------------------------------------------------------------------
& d$ \; K$ t7 u    Ottawa           290,083     278,417        4.2%     285,667     273,250" a. Z4 X2 `+ H
    -------------------------------------------------------------------------
  Z1 J3 g; Z6 h" d0 a* @    Toronto          373,368     355,882        4.9%     481,523     474,766
- j7 [+ M+ i0 W. d    -------------------------------------------------------------------------& {. c. q+ C4 }4 f
    Winnipeg         181,579     159,860       13.6%     202,337     180,7076 _* k. s6 \- p4 C( y! J* u& j
    -------------------------------------------------------------------------9 h8 N  ~+ }% q; ?( _$ C4 P
    Saskatchewan     170,667     156,083        9.3%     182,600     166,500( c% w2 q* R5 U6 |
    -------------------------------------------------------------------------
9 ]0 e- i% f9 P% U+ _2 b    Calgary          395,067     252,411       56.5%     405,778     264,389; i* }& C; N3 O) K$ Z
    -------------------------------------------------------------------------3 h8 j  N6 x6 S: H5 Q# C
    Edmonton         286,857     194,857       47.2%     316,429     206,714
8 b/ }8 I0 U' H7 {    -------------------------------------------------------------------------3 |# p7 v# l' k, s
    Vancouver        704,250     601,000       17.2%     794,000     697,500
, x- K. X  s# S0 b0 l- b( P    -------------------------------------------------------------------------7 z1 l. D$ l3 W1 S
    Victoria         375,000     348,000        7.8%     403,000     391,0007 Y: Y9 j1 C9 E8 G( k
    -------------------------------------------------------------------------
! E$ D& G# y4 I, P    National         300,365     258,202       16.3%     365,380     322,860
1 G. |# e$ G0 ~1 O    -------------------------------------------------------------------------2 ~1 }6 ?- Y, n9 k& X0 S8 M1 ~# C
) H$ M0 f7 z6 e$ Y
    -------------------------------------------------------------; X. \/ V6 T( B& x
                               Standard Condominium
9 L6 Q8 ?  W: A. S& h5 {' u" r) A    -------------------------------------------------------------
( L1 B% g5 H/ y% `0 ~+ O                    2-Storey     2006 Q3     2005 Q3       Condo
' b7 f9 P% L! I( T. `. a    Market          % Change     Average     Average    % Change
, ?+ `1 n8 {1 v/ r    -------------------------------------------------------------
- ]- N! X6 a4 b# `    Halifax            -0.2%     142,000     103,000       37.9%, e6 p3 _0 d% m% M3 C" G
    -------------------------------------------------------------# o2 Q; j( x3 P. N+ K
    Charlottetown       2.9%      98,000      98,000        0.0%" Y  k1 R0 V' p$ A3 u8 f
    -------------------------------------------------------------
5 Y' @2 U+ H. q4 _$ Y. I    Moncton             4.9%           -           -         N/A
4 X5 h! [' J0 U% m1 U0 c    -------------------------------------------------------------! `# O* C. j8 ^# Q3 M
    Saint John           N/A           -           -         N/A
/ F/ r& o4 v5 b: B6 Y% V    -------------------------------------------------------------  N9 f7 e/ F. a6 Q4 c: v" {
    St. John's         -0.8%     146,333     145,667        0.5%
/ R# w. Y) B5 ?) H6 _& J4 C    -------------------------------------------------------------3 k0 w, j7 V) g' h0 L1 Q
    Atlantic            1.3%     128,778     115,556       11.4%
* C' a' a5 k; H( I5 S. A6 F9 D    -------------------------------------------------------------, m4 s8 W; `" m, v, H' }! j
    Montreal            1.6%     193,190     188,016        2.8%
' |8 L% G7 u5 D9 L: d3 b5 D8 B3 N/ I$ f    -------------------------------------------------------------& V- G( \3 d4 c: R2 l/ Z; }
    Ottawa              4.5%     181,083     172,250        5.1%. i$ k9 Q4 q0 ~2 k& W% [. y0 T; a) X
    -------------------------------------------------------------
9 O# R" q4 _( k+ a  x    Toronto             1.4%     252,088     242,918        3.8%
5 v' y1 c* V5 P0 d    -------------------------------------------------------------) [! C- D( [1 |2 R0 Q) X* D/ U
    Winnipeg           12.0%     105,648      96,008       10.0%( T% K8 l7 z* L. i
    -------------------------------------------------------------
6 {& e+ Y- _7 p5 V! E+ P+ d    Saskatchewan        9.7%     106,250     101,000        5.2%
, C' O& j+ K8 B; }; _    -------------------------------------------------------------
* j/ P6 K: [  O' R    Calgary            53.5%     245,844     153,867       59.8%
9 j2 ]# v( ?/ B4 I) U! K% M: Y    -------------------------------------------------------------9 ~4 {9 |: d2 |$ _
    Edmonton           53.1%     200,433     131,500       52.4%  \" l+ n" Q' s' K& X
    -------------------------------------------------------------, h) ?; K0 w  S
    Vancouver          13.8%     366,250     323,250       13.3%
8 V+ a8 U/ k- E9 E! e% r    -------------------------------------------------------------
. a6 H4 M. W! d/ S9 c% X3 C5 t    Victoria            3.1%     229,000     220,000        4.1%9 z' V6 T3 w0 D/ K% q2 y" ^
    -------------------------------------------------------------
4 R1 u" N: C: t5 k: I/ a& _# b7 h5 S    National           13.2%     211,562     185,296       14.2%
4 B) Y4 [0 Q3 ~* I    -------------------------------------------------------------
% a; M' `# y4 A    >>
& u% ]( c2 g9 t. G4 O* ]8 R% k" h0 o! x) K( v) |$ W  I
    Average house prices are based on an average of all sub-markets examined
0 K, a  P8 B, i. N( D/ T, w* P7 r1 {in the area, except for the smaller markets of Charlottetown, Moncton, Saint
) a5 @' W% \% b, O: r7 XJohn and Victoria.* f2 A( ^0 w% [* b2 R
: Y0 f3 a' P$ g# h2 [
    The Royal LePage Survey of Canadian House Prices is the largest, most
5 z' y0 V8 w9 z, C4 Acomprehensive study of its kind in Canada, with information on seven types of, e) {6 Q0 x0 p
housing in over 250 neighbourhoods from coast to coast. This release- g$ F2 j* U' u
references an abbreviated version of the survey, which highlights house price
& `; `4 k8 X4 g% ^; `- vtrends for the three most common types of housing in Canada in 80 communities, b# C# \* P  a) H, G/ C
across the country. A complete database of past and present surveys is+ R0 F" e" o. n# N$ I
available on the Royal LePage Web site at www.royallepage.ca, and current! d  L/ }  L9 k; X
figures will be updated following the end of the third quarter. A printable6 m8 }# J1 C+ I6 \+ b  k; @/ l
version of the third quarter 2006 survey will be available online on
2 }0 l7 [: v; x; {November 15, 2006.# z8 ?1 z- U3 y* u
    Housing values in the Royal LePage Survey are Royal LePage opinions of( N: \* v% Q0 r/ f
fair market value in each location, based on local data and market knowledge  c, L/ p+ E% d' h1 g  M+ B+ l+ g
provided by Royal LePage residential real estate experts. Historical data is
7 _" Z1 O5 `6 K, Havailable for some areas back to the early 1970s.
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