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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 7 w0 g- ^1 R0 t% C1 c: U4 G
  U% P3 E! I  k1 X7 J3 C
- Country's market poised to show growth throughout 2006 -" i6 T/ }/ w9 n$ k; t9 V( V

1 R/ U6 B- H$ a    TORONTO, Sept. 28 /CNW/ - For most of Canada, the housing market
, x8 q1 c8 Q- {5 M: r! gexhibited moderate price increases and stable unit sales during the third4 B* L4 M& }; [1 K5 Y- V! H' C: r6 N8 D
quarter. Wide regional variances continued to be the dominant characteristic; j3 ^9 y% y# f( @- ^+ T3 b6 U$ n
in the market, exemplified by frenzied levels of activity and double digit
. O3 s6 a; m  ]; ]" p" ~! h  Wprice gains observed in the energy and commodity rich Western provinces, and8 B  I0 o; F$ Z/ k! O9 v% s
more reasonable sales volumes and moderate price appreciation in Ontario,
8 k" M; {9 O3 t2 RQuebec and Atlantic Canada, according to a report released today by Royal1 T$ j. z1 D* u1 H
LePage Real Estate Services.$ Q. L1 k& y; [3 x, n; u1 L# F# V
7 ~2 \5 D( |; `8 \5 n% ]& P7 ]
    Nationally, market trends established through the first three quarters
7 g& R" W, C, P- S4 k( j& n7 Yare forecast to continue for the remainder of the year. Robust economic' w* J5 c$ m6 n/ j
conditions, low unemployment rates, modestly growing salaries and wages, and
, B1 J! V5 o- psound consumer confidence contributed to the overall strength of the
5 w: v; t% T8 E9 X/ s8 Qresidential real estate sector.
  D9 O; S. x  A: v
; e2 ]' k; J9 E# u- w3 e+ Z    Of the housing types surveyed, the highest average price appreciation
( z1 l2 s* G3 F5 i! f4 Y( Woccurred in detached bungalows, which rose to $300,365 (+16.3%)( H" \. ^6 E: q8 [7 e4 t
year-over-year, followed by standard condominiums, which rose to $211,562
' L* }, n: c& b4 W- N7 B6 W(+14.2%), and standard two-storey properties, which increased to $365,380
2 h6 x. }1 w" G- V. a) ?) v3 g(+13.2%).
' c4 s) v6 ~$ E3 A7 C. J. B# N3 @- P7 R. K
    "Canada's sturdy housing market continued to demonstrate steady growth
0 J& |" ~; P/ A: w; _+ ~during the third quarter. For all but the west, we have moved on from the
" _8 |: p4 L0 Jfrenzied expansion that characterized the first half of this decade, and are/ D6 D! L$ m  }5 R
poised to show continued growth at a more moderate pace," said Phil Soper,
2 p! \$ H; d0 |2 Bpresident and chief executive officer, Royal LePage Real Estate Services.
# F2 J# y$ s( q5 @$ I/ {8 N7 y"Gone is the sellers' market that we have lived with for some years. We
' ~. M* F1 N/ Y1 _welcome the more reliable conditions that are characteristic of a healthy
) T3 B5 P; v4 q% ~! Ybalanced market."* y4 `% i$ q8 c5 }

  h7 A5 x# {3 B  Y4 Q6 |    Despite the double-digit rise in average national house prices,6 l* |/ ?2 V* Q
considerable regional variances were exhibited again this quarter. The shift
4 \7 M* @2 S2 N6 T) |to balanced market conditions, which began in late 2005, has continued9 Y" W: {  n0 [2 I( }# ~+ I
throughout most of the Central and Eastern regions of the country. In the core
1 N% G8 a) e, O/ H/ ^# S; Benergy producing western provinces, the combination of very high in-migration,  S& t7 k- |# s1 e% d2 l
manageable affordability, and a shortage of inventory has driven record0 T1 F& b' z' {
breaking price appreciations.; s3 m* _2 a) z1 Z4 P
* K% z3 w$ Z, O: U
    Echoing the second quarter and supported by Alberta's rapidly expanding# j/ g( J" U% O7 M; h9 V
economy, Calgary and Edmonton led the charge of Canadian cities with the
, w: {6 _: R' J6 Mlargest house price appreciation in all housing types surveyed.
) c, Z( {- f' h, h" e% \& ?2 i7 X
    In Ottawa and Toronto, growth remained steady, supported by solid
" ~: C/ L2 w' [) u$ K  eeconomic fundamentals, an increase in available inventory and strong consumer
4 O; s  [! j0 R. }confidence. While the pace of price appreciation in Ontario leveled off$ d+ M( A7 M$ s7 p$ ?5 @
slightly, the province's real estate market remains poised for modest growth.
& o, g: _* h* S9 GIn Atlantic Canada, new housing and condominium construction offered buyers8 G/ N9 ?/ Q3 P+ @
greater selection at more competitive prices, resulting in a slower rate of+ E+ y; f# v* [8 @6 E7 a
price appreciation when compared with 2005.8 i0 n6 O# f2 \5 W2 ^+ U, `2 n7 {

& G% l1 F3 h+ ]2 p2 l% I- g    While the pace of growth in Canada has slowed, the domestic housing. ]0 x. c9 A% U7 b- v
market is expected to outperform the American market. The economic and9 F* A. p, }, g$ L
financial fundamentals driving the residential real estate sector in Canada
: b& J- m* G  o( e  x) Dare markedly different than those found in the United States.9 b- K: q# b* D; b7 n% h% F4 q

7 A9 [- O7 a" J! |8 v    Added Soper: "Canada's housing market is likely to outperform the
' d0 R0 l. ]0 h0 u$ `" b* JAmerican market through 2007. A number of factors are working in Canada's
2 `% p$ i2 F, {6 a% ~favour, including healthy personal and governmental debt levels, the
6 s  K. R8 L+ a# mrelatively modest rise in interest rates in our country, and general
) H6 X: F6 t1 d# c, `9 Q& O6 v# Aaffordability in our major cities. In addition, Americans are now seeing the
9 v0 |* |& q& o% u2 ]$ B# x; Xdownside of a tax system that encourages maximum homeowner leverage, and
7 b: A0 d+ u  |7 |6 Saggressive financial products such as zero- and negative-amortization5 X! f! P) @* [0 B7 ^+ ~9 P/ [
mortgages that work only in a high price growth environment."
' g" M2 L6 O' |" l
6 l+ V* l  E5 I& @    <<
) w* C8 i- e: A, z                             REGIONAL SUMMARIES
6 j5 C# R* i5 n; b* }    >>
. r2 P  f+ N0 U
1 [& }/ v/ S% K, s' ]; L    Balanced conditions continued to characterize the housing market in  ?% Z5 h  W7 e. J+ O; A/ A' W
Halifax, as significantly higher inventory levels helped to moderate the rate! r5 Q- `' ~0 t( ~! O! h& k( R
of price appreciation. Buyers were increasingly choosy, taking more time
5 [) z$ J" }1 {8 [) v+ Olooking for newer, low-maintenance properties that were not in need of
5 h2 z  b' T$ T) arenovations.- Z/ I3 ~( r' K0 p6 I: ?) K, q
8 f( S/ j$ v7 o  `0 H  t
    The housing market in Moncton remained healthy and strong as a slight
2 k, f9 n- j5 F: a% Aincrease in inventory helped to moderate the rate of price appreciation
' @- L; K* m6 C- j2 u. V, u4 O  jcompared to the same period in 2005. Activity was brisk throughout August and) T8 {7 k" W5 w9 N0 g- T: E
September and is expected to remain this way through the fourth quarter.
( s4 d# P3 |0 Z& m+ ~
9 A: M0 j2 X" [3 t) c    The housing market in Saint John underwent its traditional summer3 ?9 d' e9 g6 ~% V, F2 a
slowdown in the third quarter, with activity picking up towards the end of the
0 H: G1 M4 O- D, ^7 jquarter. The local economy continued to thrive, as construction on a new
1 e: a5 h: `) [! n! M7 |- D5 b1 d600,000 square-foot shopping area has begun, bringing several new box stores7 n$ d( r& F3 l7 b0 `6 k
to the area. Buyers have begun seeking less expensive fixtures for their homes; o- R5 w2 k3 p: u/ m% i
and are instead opting for more affordable housing options.
& \7 O1 M% c) Z. H) o8 @7 m! P
6 Q1 ^7 B% ~" s    In Charlottetown, the housing market started to move towards balanced. P8 {. P( W" U
conditions, as some sellers had to begin to lower the asking prices on their; {/ G3 m! b8 T5 @+ V
homes to make them more competitive. Activity from out-of-town and US buyers
8 T' Y1 I! j7 {! L7 v' Z0 ^was down slightly compared to 2005, likely attributable to the strong Canadian
; W( t( Y# _# M0 H4 S5 R4 idollar. Inventory levels began to creep up in the third quarter, providing0 `1 r9 _. ?2 v+ N
buyers with more options when looking for a home.) t) e2 @$ A% p/ T0 [3 Y

& d6 ^6 M& p4 S  Z6 X9 R3 S    Activity in St. John's slowed slightly in the third quarter, particularly
' m  D! b2 y1 d" q9 l* R: M/ {among higher-priced properties, where there was a slight over-supply of homes
5 B' j# H+ Z# X2 H5 m# qpriced over $200,000. Listing periods have increased when compared with 2005,6 c: ]& r( S( s+ w3 R, B( x. L/ h
as some of the pent-up demand that had characterized the market over the last  ^% U5 B8 H9 n, a' i
few years has been satisfied, resulting in more normal, balanced conditions.! t& l! W) D0 }
9 A! l6 y8 D4 S. b$ l, w
    Montreal's housing market recorded modest increases in average house
1 v1 d% j. q8 J+ iprices, due to a slight seasonal slowdown in the third quarter as inventory! L1 k- H! q0 g) Q* v5 }, e
levels rose. Part of this can be attributed to the fact that many renting2 v& Y% {% o% |
first-time buyers were motivated to close on the purchase of a home by July 1,
7 ^7 d! L. o+ ^. [$ z9 c. C' V3 twhen rental leases expire in Quebec. Once this date has passed some of the! F! h9 _; G$ \
pressure is taken off the market, allowing buyers to visit more homes before4 R( F% R& _+ x9 O% E7 s
making a purchase.. }+ u4 P* f9 X4 J# h

8 Z* w4 Q. B6 P0 O    Ottawa held its position as one of the country's most stable housing; l' \" B" @. r9 {  ~
markets in the third quarter, reinforced by a vibrant local economy and strong" Z; n/ j) Y: y! y$ Y) q; t/ U/ i
confidence, resulting in modest increases in average house prices. The city
* _7 f: Z$ P7 Q& I$ g' ?centre remained a bright spot in Ottawa, with homes in this area attracting9 p6 N# o5 a/ M9 z1 U
attention due to their convenient location and proximity to downtown8 N0 h! R* r3 l; @% K, x7 J
amenities.* {- v5 Z3 }9 s- N

' f8 R+ S& f* k, p    The housing market in Toronto sustained healthy activity levels
! @5 }/ W' @" H4 W# T6 Kthroughout the third quarter, as a strong economy helped to maintain demand
7 o: h/ W5 h/ o- X4 X- pacross the city, causing average house prices to rise moderately. Toronto has
0 o4 Y2 _  P4 U( Ccontinued to experience modest growth in average house prices, and has been" H% J3 X+ X1 `9 ]
driven primarily by purchasers who are buying homes as their principle
1 ]2 R1 K0 l; B6 hresidence, rather than for investment.7 Y% S. X$ x7 q2 h' ^) h
% ~  R( D! ^1 }  O8 V% ?) b
    The vibrant Winnipeg housing market continued to show its strength as
- A9 J/ b! y$ v/ N) T% o/ Hhouse prices rose during the third quarter. The booming local economy resulted
1 p% g8 B5 ^0 R; F" w$ h5 ]. uin a historically low unemployment rate, helping to bolster consumer  r2 Z% [3 v+ T& Q0 Z
confidence and Winnipeg's ranking as the city with the lowest capitalization
8 b; |7 {% @, prate among the country's larger cities - helped to encourage buyers to enter( y* c2 ~. b. Z
the market.
# E5 _3 W  _2 O( O( b
( V0 N0 O- ]* B+ [3 |    In Regina, the market experienced a slight seasonal slowdown through
4 P. Y5 q! o, l: E) e  N1 WJuly, as there were fewer purchasers in the market due to summer vacations. In2 a4 w+ L2 s# F  ^3 B
August, activity resumed to the busy pace previously seen in the spring
" \/ J) C# P; C" W9 v0 P! rmonths, as the influx of purchasers made it more difficult to find a home due
; {- O$ I; {- Z7 Jto the shortage of available inventory.
9 G$ _% d5 C) ?; e8 \% n+ i$ v9 \* k, W& j  ~% P( V# a
    Activity in Saskatoon remained brisk as the market maintained its2 ?" }/ K( r$ Y
momentum from the busy spring sales period. The economy in Saskatoon remains
! z2 h! X/ }) _/ R; |; gvibrant, as employment opportunities are abundant with many businesses
+ w) K( N8 U5 ]) ^1 S7 n) Ostruggling to make hires and having to recruit outside the province.
/ B2 j: @8 y7 z5 W% u4 `& D7 F0 O) {) {0 i9 B# z9 I
    Calgary's housing market recorded blazing average house price increases3 L! ^6 N! O# s5 d9 f
in the third quarter, in all surveyed categories. The burgeoning economy, low- d7 ^4 B1 I; }8 f) j, W' q
unemployment rates and low inventory levels remained the leading factors that
' D1 p2 L$ K7 I8 [5 x7 apressured Calgary's house prices upwards. However, regardless of the soaring4 H& y8 a4 V. C& S" V
prices that characterized the market - even during the typically slower summer% S6 a+ g2 i/ F( @+ y8 d
season - it is expected that activity will become slightly more balanced, as
5 `- B! n3 R5 {$ J- }6 @buyers are becoming more reluctant to participate in the frenetic activity.

. l! L/ b+ a3 V/ X
$ k% P+ \$ B* V  u% W8 {& x    Edmonton's booming local economy continued to thrive in the third quarter
2 O; L) Z7 ?5 @+ d/ }( Zas activity in the oil sands north of the city continued to flourish. Edmonton# }  h8 i& M. I
remained the hub of activity for those coming to work in the oil industry,* }1 E. f5 _' p/ K/ Y
maintaining tight inventory levels across the city, resulting in prices
7 u- L  M' {+ n3 ]; I* V8 z. C/ pincreasing at record levels. However, as inventory levels continued to improve; m0 ]5 B6 O0 L6 K( h1 d; V
in the third quarter the rate of price appreciation should moderate slightly! g  M$ e+ z/ f' p) N. Z+ e
towards the end of 2006.
   
, D/ x7 a, Q! {- D" w9 |* q4 Y* I9 F  `5 W2 U1 ^6 E" ^! W' _
While Vancouver has seen a slight reprieve from the severe shortage of
! g5 b2 Z, @  ~# Oinventory that had previously characterized the market, supply is still unable
# j2 P7 x( w$ m  k% M* J. Kto meet demand, driving house prices upwards. Vancouver has a very diverse" n# h2 }% G- A. F& z
group of active buyers - from first-time home buyers to baby-boomers to
. v: Z' c3 `+ h% z, b: ~+ I8 Kforeign investors - all of whom fuel the demand for houses, placing added
3 r: i2 S- m$ y, U: Vpressure on tight inventory levels.; ]9 O) g; t- b% o
/ Q7 @. M9 k3 `- p) m6 H3 v4 @$ V
    Victoria's market is vibrant and supported by strong economic3 W! \  k' D6 Z' [' J! i' Z
fundamentals, fuelled by a booming tech sector and a migration of young people
6 ^1 I) K  X% \7 g* Z5 p+ j2 W9 Qinto the city that has continued to support the area's house price increases;
) j+ I5 }0 D" x# d0 Y3 zwhile increased inventory levels have afforded buyers more time when searching
" H6 t/ ^' v! \; y5 ]: Cfor a home, helping to normalize the market's pace.0 N! q1 @" H! @8 o( O4 N# T6 c2 e
* W6 G  \5 f/ [" w% G
    <<
9 R# k2 X' N% X6 q& B/ i& s      Survey of Canadian Average House Prices in the Third Quarter 2006, j1 d2 J, u; y, F7 F5 ^$ J

9 {7 j! B8 M1 y    -------------------------------------------------------------------------
4 _- n3 z% @/ t                 Detached Bungalows                Standard Two Storey- u4 ~- s0 }+ k4 s( m7 U7 V" c4 A
    -------------------------------------------------------------------------: @7 z7 Q0 t, T% q7 X, x% x$ m
                     2006 Q3     2005 Q3    Bungalow     2006 Q3     2005 Q3
' J& g9 Z1 V7 i0 h5 R    Market           Average     Average    % Change     Average     Average
6 C/ c  E2 `: u' U8 s- R) N    -------------------------------------------------------------------------
4 [( w9 _2 f+ B( k! x1 R    Halifax          186,333     173,333        7.5%     198,667     199,000
- f8 O! V7 g8 Q4 |/ I4 P    -------------------------------------------------------------------------. Q" J7 Z3 ?8 W8 o* w
    Charlottetown    145,000     141,000        2.8%     175,000     170,000
5 |) {; V7 V, m. B' V1 c    -------------------------------------------------------------------------
! N# d; c/ z. {  C    Moncton          135,000     127,000        6.3%     129,000     123,000
7 s2 l: ~9 N% _% B. j, y    -------------------------------------------------------------------------  d9 j- E% L6 Y9 a$ g& {
    Saint John       141,200     142,900       -1.2%           -           -# K. C! c5 C, z3 I& W- n
    -------------------------------------------------------------------------
9 e1 m1 S/ @8 r  ], e& F( u  u    St. John's       143,667     142,667        0.7%     200,667     202,3331 D, l* w$ f& c% E0 L0 M9 j, p
    -------------------------------------------------------------------------" @. x, v+ h* x0 f
    Atlantic         150,240     145,380        3.3%     175,833     173,583: D% Y! ~/ D8 t4 L1 q( `
    -------------------------------------------------------------------------; c- y% l; i) r6 d
    Montreal         213,691     203,500        5.0%     321,141     316,185
2 Z" s8 _( L2 m8 I8 d; a    -------------------------------------------------------------------------8 D1 y5 O" j. Y
    Ottawa           290,083     278,417        4.2%     285,667     273,250
& H: w9 A; f! h! t6 S    -------------------------------------------------------------------------
+ S$ ]; }! j, C) _  u0 R1 m    Toronto          373,368     355,882        4.9%     481,523     474,766
# A2 ~2 |/ K( p    -------------------------------------------------------------------------! O6 }; [4 k0 f
    Winnipeg         181,579     159,860       13.6%     202,337     180,707
0 E2 w# r& \( i. u" E7 ]% E    -------------------------------------------------------------------------* L' \7 o* K' l6 N  I7 C1 h7 P2 {
    Saskatchewan     170,667     156,083        9.3%     182,600     166,500/ k( W) d: g5 }2 T
    -------------------------------------------------------------------------( v, `: p( _$ V8 w. \
    Calgary          395,067     252,411       56.5%     405,778     264,389" i/ Z% d1 s6 t$ [& `. D
    -------------------------------------------------------------------------- V5 U6 l  \9 `7 `0 i
    Edmonton         286,857     194,857       47.2%     316,429     206,7143 w8 X0 U6 \" T' V
    -------------------------------------------------------------------------8 ]: Z; ]; [! j0 ?/ I- V
    Vancouver        704,250     601,000       17.2%     794,000     697,500
& Z! G+ W& |) ~  J8 a    -------------------------------------------------------------------------5 Y8 f) y- Q* E& N7 X3 e" E+ F
    Victoria         375,000     348,000        7.8%     403,000     391,000" m$ F' j% b4 m5 j
    -------------------------------------------------------------------------/ @& N- m* y- F" }1 ~" X
    National         300,365     258,202       16.3%     365,380     322,860
) s. H- D0 P! f9 X. |, Y7 q    -------------------------------------------------------------------------3 D  v0 k$ j: {9 j

$ n; P( E% ?1 z: [3 b. @    -------------------------------------------------------------- ]" ^, v- a2 r' s
                               Standard Condominium4 k  F, M) Q% \4 G, Y9 h, p
    -------------------------------------------------------------
* R' R/ P3 _" g3 y: K# N0 {* T                    2-Storey     2006 Q3     2005 Q3       Condo
/ q* v' a+ L: P  J* y1 }    Market          % Change     Average     Average    % Change
6 j) A& R& k& \" I    -------------------------------------------------------------/ k0 W; F' Z/ i! c. p
    Halifax            -0.2%     142,000     103,000       37.9%  z5 h/ }; W' }0 Z
    -------------------------------------------------------------
" ?. L$ P) j: m6 g* D    Charlottetown       2.9%      98,000      98,000        0.0%" H( U% k* }8 P( L+ A0 L% R" ^
    -------------------------------------------------------------
# {2 Q4 s# ]5 ~3 L    Moncton             4.9%           -           -         N/A
4 [3 B* e5 ~6 |. E" W( m    -------------------------------------------------------------
5 R! G8 {! ^; o5 x    Saint John           N/A           -           -         N/A
0 U2 d! }: Q# J3 \" H5 P    -------------------------------------------------------------5 q4 {9 R3 s# E' q
    St. John's         -0.8%     146,333     145,667        0.5%
& g* G2 a& P/ Z2 }* L! _    -------------------------------------------------------------) `0 |; I; [" a% Q
    Atlantic            1.3%     128,778     115,556       11.4%
. `6 f0 Y! n$ g    -------------------------------------------------------------
5 u- A8 i1 h9 K    Montreal            1.6%     193,190     188,016        2.8%( ~# V" ?7 R" N$ U7 m8 R" ^3 J
    -------------------------------------------------------------
0 D8 o* ^" M0 L  N/ a) S    Ottawa              4.5%     181,083     172,250        5.1%$ m, x- e& J( W
    -------------------------------------------------------------: v/ H' Z7 V/ a! d1 `- x
    Toronto             1.4%     252,088     242,918        3.8%
: u% {% v& l' g! K: w+ u    -------------------------------------------------------------9 \" C- h5 o9 f0 J; T* M/ f
    Winnipeg           12.0%     105,648      96,008       10.0%
2 P/ I' G! r$ O    -------------------------------------------------------------
* t: O" Z( j& N0 e/ l: N    Saskatchewan        9.7%     106,250     101,000        5.2%/ f3 U9 z6 E* w/ E8 ]2 ^" R3 x
    -------------------------------------------------------------
4 f1 a* V; w, L0 I6 V1 _) g    Calgary            53.5%     245,844     153,867       59.8%6 i/ y4 Y+ O6 m( l- u: I
    -------------------------------------------------------------& p4 q, R7 `/ b$ z& Q
    Edmonton           53.1%     200,433     131,500       52.4%
/ x" J# `. E* S4 Y8 P+ n+ b    -------------------------------------------------------------& ?" }8 ]8 k/ r# \0 i
    Vancouver          13.8%     366,250     323,250       13.3%
, t4 a- ?0 ]1 }- N# o7 w" L8 C# N    -------------------------------------------------------------. n" y9 K; a+ |
    Victoria            3.1%     229,000     220,000        4.1%
: |. F9 e6 K% E* j    -------------------------------------------------------------
3 e( V' {7 p. h/ `" O0 w8 V    National           13.2%     211,562     185,296       14.2%
/ m# k2 t; _0 K  d; C, N3 q& x    -------------------------------------------------------------
* w0 z: f: v. [0 g: d    >>) H3 e# [3 |' m: ^% G

1 X  e2 G" Q  V9 r7 e& A    Average house prices are based on an average of all sub-markets examined, w! T+ H' p9 V+ K
in the area, except for the smaller markets of Charlottetown, Moncton, Saint3 |, b  J% w$ p( m
John and Victoria./ R# |! u2 k2 z, M

/ ]! H% l4 B. E6 S3 ~1 E: P3 G) c    The Royal LePage Survey of Canadian House Prices is the largest, most! K) @3 a* K7 a- \6 I. U
comprehensive study of its kind in Canada, with information on seven types of
7 Y3 L5 T' z6 Dhousing in over 250 neighbourhoods from coast to coast. This release
0 e$ J9 A# J2 K( w. [6 |' Yreferences an abbreviated version of the survey, which highlights house price! V$ q6 X0 _1 j6 b+ t$ h% E+ H
trends for the three most common types of housing in Canada in 80 communities
$ W" f4 F6 j1 _- ]+ Sacross the country. A complete database of past and present surveys is- a3 a; N( D5 a* B7 B
available on the Royal LePage Web site at www.royallepage.ca, and current: e4 h/ z# [+ N) d: v
figures will be updated following the end of the third quarter. A printable
8 j" b/ J: D! a; }version of the third quarter 2006 survey will be available online on: W  f/ H% v, h' \4 Y
November 15, 2006.
( _* ~6 H& P8 r9 Z& I1 m6 ^    Housing values in the Royal LePage Survey are Royal LePage opinions of1 r, z. W1 c$ U! _* D
fair market value in each location, based on local data and market knowledge
: @) w/ ?8 d3 C3 a. Q: M% mprovided by Royal LePage residential real estate experts. Historical data is
5 y* q& S# y1 Bavailable for some areas back to the early 1970s.
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