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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 s' V! Q8 M$ E7 C2 ?# M

7 q: D2 o/ V- U' h4 L- f- Country's market poised to show growth throughout 2006 -$ D3 P) {" A6 D- T0 _) b: R8 K- y
( Q9 \# c' f! W9 b
    TORONTO, Sept. 28 /CNW/ - For most of Canada, the housing market, i- {( e2 j& V% n
exhibited moderate price increases and stable unit sales during the third3 F+ Q7 g" I% C$ t6 f) m
quarter. Wide regional variances continued to be the dominant characteristic
: z: M: F- V8 oin the market, exemplified by frenzied levels of activity and double digit
: j6 G* {% d3 i2 T0 \; I9 N! g3 dprice gains observed in the energy and commodity rich Western provinces, and
+ m1 K# W) ^: |5 v* O2 ]$ M( O. I8 n+ }more reasonable sales volumes and moderate price appreciation in Ontario,
0 t7 ^" @7 r# f. ?Quebec and Atlantic Canada, according to a report released today by Royal: q6 r$ Y* \8 @6 C8 n: n3 B
LePage Real Estate Services.
4 b6 A3 F! p) I2 _7 q4 Z- n* v, O4 h8 \8 ^% n* J  b! d6 [, |6 M
    Nationally, market trends established through the first three quarters
7 \, s. @, O2 n! V7 G  k' w+ fare forecast to continue for the remainder of the year. Robust economic  u+ F$ g6 Y8 X' Z5 e8 q( x# I6 o7 x: X  u
conditions, low unemployment rates, modestly growing salaries and wages, and
2 |# `) }0 g( \' z3 e& s; ]sound consumer confidence contributed to the overall strength of the
2 C0 I" N/ G0 Aresidential real estate sector.
; m: h9 i: U- i# n2 [1 G3 U: N- x7 C, j, U
    Of the housing types surveyed, the highest average price appreciation& ~6 e  {: c# Q* ?) `/ \
occurred in detached bungalows, which rose to $300,365 (+16.3%)
8 d* w* u: ^' Ayear-over-year, followed by standard condominiums, which rose to $211,562
/ ^- B, e& o6 F9 t. c0 \- G(+14.2%), and standard two-storey properties, which increased to $365,380
2 H; y8 z3 ^+ ^6 W9 }5 ~6 o: \(+13.2%).
6 R  D2 d# p7 p1 l2 J: G( F; P, l  C+ v' l; @' s/ d( U
    "Canada's sturdy housing market continued to demonstrate steady growth# D: w' r2 [! e4 q! A0 h
during the third quarter. For all but the west, we have moved on from the2 S3 q6 q: ?  P% u+ Q4 d
frenzied expansion that characterized the first half of this decade, and are: K5 h2 z2 ^8 Y0 |
poised to show continued growth at a more moderate pace," said Phil Soper,
' o. k0 U3 ~# M' T) rpresident and chief executive officer, Royal LePage Real Estate Services.0 Z: h" N1 B3 E& m
"Gone is the sellers' market that we have lived with for some years. We& y( [, V! ?7 t0 D
welcome the more reliable conditions that are characteristic of a healthy
; b6 y& j3 q8 b, Kbalanced market."1 ?7 M3 W4 A- ]6 Y  F5 Y
: }( [) R! n" c: b9 `( a% z( |
    Despite the double-digit rise in average national house prices,
8 b+ U7 v; t% Y1 K7 H& Vconsiderable regional variances were exhibited again this quarter. The shift* K8 I+ V9 s# E1 g( h
to balanced market conditions, which began in late 2005, has continued
1 u, S. y1 u0 }; C# uthroughout most of the Central and Eastern regions of the country. In the core
0 R: D8 c4 a3 L- ?  `energy producing western provinces, the combination of very high in-migration,6 B0 ?$ B( ]7 b  |, J5 c
manageable affordability, and a shortage of inventory has driven record
4 s% j& H" z* C5 Q* Y: r' Sbreaking price appreciations.
" Y- o* ]2 F2 y
' C8 J+ Q& E) Z. W* m& S7 j% j3 @+ |    Echoing the second quarter and supported by Alberta's rapidly expanding2 T9 ]  h3 P# f: u
economy, Calgary and Edmonton led the charge of Canadian cities with the
$ e$ l. u+ X% b0 j9 dlargest house price appreciation in all housing types surveyed.
! ^8 h) w( y0 ]! {, d4 O
8 e5 `( z9 M# B( H4 r/ C$ |    In Ottawa and Toronto, growth remained steady, supported by solid
/ S% y- o) T* S- @8 J" keconomic fundamentals, an increase in available inventory and strong consumer9 S: E5 `( |! N: C7 A) w2 d
confidence. While the pace of price appreciation in Ontario leveled off( Q" @9 G0 ~3 L2 Q0 F( z2 @, D) x
slightly, the province's real estate market remains poised for modest growth.
. E% B, t; `# o/ Q) hIn Atlantic Canada, new housing and condominium construction offered buyers+ g" O. z9 z1 z4 K. N& r9 T& X
greater selection at more competitive prices, resulting in a slower rate of
7 G2 L$ O' o+ a3 V$ Xprice appreciation when compared with 2005.
. x% b" |4 Z. D7 C8 m4 |) \8 C0 L5 d" a. v
    While the pace of growth in Canada has slowed, the domestic housing
$ u+ W1 N: g2 Z& X0 C! p9 ]- ymarket is expected to outperform the American market. The economic and
% e/ Y; U* F% `; _  Z2 `7 T' Zfinancial fundamentals driving the residential real estate sector in Canada; q  @) t# v) B& M/ K% S+ x- o2 {
are markedly different than those found in the United States.
9 E- h7 b$ l, H9 L% p
3 g7 D  ?' D' U    Added Soper: "Canada's housing market is likely to outperform the
. ^! Z( }7 k* D; z, _5 sAmerican market through 2007. A number of factors are working in Canada's
& C# _0 x4 e2 ^! q0 Z8 jfavour, including healthy personal and governmental debt levels, the
3 J, o* y" z. ~relatively modest rise in interest rates in our country, and general8 v8 w9 M. I/ v6 r" g4 v
affordability in our major cities. In addition, Americans are now seeing the1 P$ s8 ~' U( D- L1 _
downside of a tax system that encourages maximum homeowner leverage, and
% e0 u: t& J1 A9 X; G, Laggressive financial products such as zero- and negative-amortization4 k0 O- {( M/ U# e
mortgages that work only in a high price growth environment."+ ~- P, s" @# A  z, @; \% w9 [
5 {  ]/ E% A+ n: f
    <<3 \3 A1 \5 }# \7 T0 c
                             REGIONAL SUMMARIES
, ^( F0 u8 G, s7 F- y4 O    >>2 x& Z8 L: {: g+ Z) W* @* p: @& Y

0 B$ F0 x" I/ |! p' L    Balanced conditions continued to characterize the housing market in
! m; A5 Y: z  [3 hHalifax, as significantly higher inventory levels helped to moderate the rate5 u2 F, }$ X8 X' e0 e
of price appreciation. Buyers were increasingly choosy, taking more time
4 p, ]8 _/ x3 l5 q: |looking for newer, low-maintenance properties that were not in need of! i6 j5 |* O' l8 u- K- l
renovations.* ^, Y5 m" Z- S4 L& V) C* u$ v
0 V; l* r( K' ?; ~3 [  c
    The housing market in Moncton remained healthy and strong as a slight5 k( Y4 ^7 H, j2 L# `3 N. ]
increase in inventory helped to moderate the rate of price appreciation0 s/ u$ P- Q3 y  S
compared to the same period in 2005. Activity was brisk throughout August and
* l* n7 }  f3 J! m" gSeptember and is expected to remain this way through the fourth quarter.3 D9 b8 J5 ^, p# V; \+ P# ~+ Y

: P& K$ T# w2 n    The housing market in Saint John underwent its traditional summer
' f+ {2 c; L- {0 d8 U. pslowdown in the third quarter, with activity picking up towards the end of the% y/ b! H+ C" Q2 B, I) ]
quarter. The local economy continued to thrive, as construction on a new
5 i( {5 X5 n( ?8 E) l$ Q600,000 square-foot shopping area has begun, bringing several new box stores
1 B" m/ w! Y2 e# Z/ a8 D) M$ Kto the area. Buyers have begun seeking less expensive fixtures for their homes
* q5 U( s$ L% `9 Kand are instead opting for more affordable housing options.7 {+ v8 [* H) p! O+ ?% E

0 N! I4 |) v- r- I6 V! r' c    In Charlottetown, the housing market started to move towards balanced0 S# O7 W/ [! x' q- @4 g( M
conditions, as some sellers had to begin to lower the asking prices on their
0 h- ]- n  }9 }$ A+ D$ thomes to make them more competitive. Activity from out-of-town and US buyers, |! {6 l7 T+ f$ v
was down slightly compared to 2005, likely attributable to the strong Canadian
9 u) r% a, b9 q$ A$ V0 D8 Jdollar. Inventory levels began to creep up in the third quarter, providing
# O" r- X/ x% _" f) @buyers with more options when looking for a home.
) z6 J% T1 h9 \; V* n% J% \# [7 h) a1 [7 R6 e4 t( e& G
    Activity in St. John's slowed slightly in the third quarter, particularly$ S- ^9 H0 u7 ~6 D
among higher-priced properties, where there was a slight over-supply of homes3 L6 i$ B8 j! @/ v1 @- d
priced over $200,000. Listing periods have increased when compared with 2005,. _* |9 Z, `) f+ J3 G, J: f- K
as some of the pent-up demand that had characterized the market over the last
& x" f$ K0 o6 M9 p1 m( C; vfew years has been satisfied, resulting in more normal, balanced conditions.
/ \/ R2 a3 g7 F1 U  E/ p5 b* j* s7 q2 O4 ?0 \
    Montreal's housing market recorded modest increases in average house, W3 h4 p0 V4 l1 d1 A
prices, due to a slight seasonal slowdown in the third quarter as inventory
+ I% R2 ]7 B$ ^0 U6 i8 i4 Xlevels rose. Part of this can be attributed to the fact that many renting
0 [- s! S0 p# Z& U0 X$ Zfirst-time buyers were motivated to close on the purchase of a home by July 1,
$ C/ `3 w3 m3 b  \  p+ pwhen rental leases expire in Quebec. Once this date has passed some of the) x" G, a. T% {
pressure is taken off the market, allowing buyers to visit more homes before
  e' a% ?6 P/ Rmaking a purchase.
9 C# Y4 I3 @0 g+ }) ]. l) |3 T
) h+ f1 w$ |6 J0 N    Ottawa held its position as one of the country's most stable housing
$ w* _5 @+ s6 F% G- Bmarkets in the third quarter, reinforced by a vibrant local economy and strong
5 _: S: O. M  rconfidence, resulting in modest increases in average house prices. The city5 x  r. e  ~2 v' g6 F! v
centre remained a bright spot in Ottawa, with homes in this area attracting
; z. w8 x5 U7 D6 u- n3 y& Rattention due to their convenient location and proximity to downtown
7 ?9 g# z, W4 ramenities.$ p8 P) H, Z- [) a* H
! v6 w0 ^, H. T6 D
    The housing market in Toronto sustained healthy activity levels
: I6 H, ]2 I. C$ Wthroughout the third quarter, as a strong economy helped to maintain demand- K$ S& O% ~+ |6 {0 W. G" y; s" e
across the city, causing average house prices to rise moderately. Toronto has
8 z( q8 E+ z' T- j% c( ncontinued to experience modest growth in average house prices, and has been
; p" Y/ J( Z7 J3 ^) Ddriven primarily by purchasers who are buying homes as their principle* {; h. b% h2 u2 y: u( x
residence, rather than for investment.
+ z2 Z" s+ W6 E9 F4 p6 k' k. Z+ q* F6 |
    The vibrant Winnipeg housing market continued to show its strength as
* l/ L$ s* Z  Xhouse prices rose during the third quarter. The booming local economy resulted: B" S( N2 W5 p2 x# h0 B/ l6 d
in a historically low unemployment rate, helping to bolster consumer
: N6 n% d+ i! O+ nconfidence and Winnipeg's ranking as the city with the lowest capitalization* B. X+ j* a2 G  i. \9 `( J
rate among the country's larger cities - helped to encourage buyers to enter
7 a* \5 `# u4 ^4 gthe market.' y" }, R2 t% I+ |9 d; V

# R( F  v2 K3 o    In Regina, the market experienced a slight seasonal slowdown through5 G- U& W. |( F. R+ w
July, as there were fewer purchasers in the market due to summer vacations. In. h  ^. q2 r+ `& q9 k7 K5 [2 D
August, activity resumed to the busy pace previously seen in the spring
, n9 p  i# _* S- E& _months, as the influx of purchasers made it more difficult to find a home due
  J& c6 z! h# o$ v) ]to the shortage of available inventory.# }6 s+ t( Z3 E* {- ?: x  D* v
" x6 S8 a, a0 E
    Activity in Saskatoon remained brisk as the market maintained its
6 h2 Q% v* N  v' h4 Ymomentum from the busy spring sales period. The economy in Saskatoon remains* L  v8 a7 Z6 y1 q
vibrant, as employment opportunities are abundant with many businesses
) z( ^* y8 d9 ystruggling to make hires and having to recruit outside the province.
/ q5 E' u% n1 g, D7 ?0 X  K3 _' g
9 y8 L1 v5 D! s    Calgary's housing market recorded blazing average house price increases7 S7 b. I2 u! a3 {5 Y( U
in the third quarter, in all surveyed categories. The burgeoning economy, low
# f7 K5 ]/ e" c: k6 h, F6 Dunemployment rates and low inventory levels remained the leading factors that
& E9 o2 I3 }# u6 C. Z/ Qpressured Calgary's house prices upwards. However, regardless of the soaring
; z# B5 x0 j; l4 ]prices that characterized the market - even during the typically slower summer8 M  I8 ]1 ~( W4 `2 S* f
season - it is expected that activity will become slightly more balanced, as1 P; G) H% n% J, s$ l
buyers are becoming more reluctant to participate in the frenetic activity.

0 \' g9 e( J4 R$ P
& z- C+ O! L6 Q' V/ T    Edmonton's booming local economy continued to thrive in the third quarter
% R3 V& K3 `! `1 T$ S7 aas activity in the oil sands north of the city continued to flourish. Edmonton' @4 r; ^# I- L: P
remained the hub of activity for those coming to work in the oil industry,, z0 Z+ G# \! q9 p' p
maintaining tight inventory levels across the city, resulting in prices3 i$ H. i- N0 G* C- {
increasing at record levels. However, as inventory levels continued to improve
; l& p! g5 H+ q' |in the third quarter the rate of price appreciation should moderate slightly
3 i: c8 W1 q* T! O- etowards the end of 2006.
    - l# L7 Q7 H5 G+ D+ i1 Q
4 U, Z- s' s7 X5 s
While Vancouver has seen a slight reprieve from the severe shortage of5 ]% W+ P# B, e8 R* \# }5 i! x
inventory that had previously characterized the market, supply is still unable+ E# t& b! @8 ^
to meet demand, driving house prices upwards. Vancouver has a very diverse
# F7 b8 d$ H% bgroup of active buyers - from first-time home buyers to baby-boomers to
& P7 S! [! j- y2 T4 gforeign investors - all of whom fuel the demand for houses, placing added" D! W9 ?0 {! C3 J5 ?" P' r
pressure on tight inventory levels.
( k  X. t" Q1 n8 l$ c) Q# n2 w+ i! e7 x& H& ?0 k
    Victoria's market is vibrant and supported by strong economic
( j- K3 ]( }  e, tfundamentals, fuelled by a booming tech sector and a migration of young people) x" p8 [/ V) A$ R6 c% v
into the city that has continued to support the area's house price increases;0 q; x7 C- g2 \4 W( q! D/ N
while increased inventory levels have afforded buyers more time when searching* u2 K7 F" @: b( q6 ]" Q5 k
for a home, helping to normalize the market's pace.
6 B: r+ N7 K5 \9 \, O. ]! B9 }( {8 i; P- P9 G3 d
    <<: ^  S5 d$ S5 A  W$ E
      Survey of Canadian Average House Prices in the Third Quarter 20067 [: g( F6 }* r# E- U( q+ d+ \
" o- z% U& F- ~% j
    -------------------------------------------------------------------------, K4 I9 Z- J0 @
                 Detached Bungalows                Standard Two Storey4 O7 Q2 |3 R: g" u- P* n
    -------------------------------------------------------------------------. r+ c+ k. G: }. y! d/ ^
                     2006 Q3     2005 Q3    Bungalow     2006 Q3     2005 Q3
% a" F/ s4 `& A- K    Market           Average     Average    % Change     Average     Average
3 y2 X" s! L& U: d3 h    -------------------------------------------------------------------------
, X- V& G( M6 {) G7 P; M    Halifax          186,333     173,333        7.5%     198,667     199,000
2 d3 I" R8 r% m* c0 E    -------------------------------------------------------------------------1 q  E) W, F- |3 _' }3 @5 w
    Charlottetown    145,000     141,000        2.8%     175,000     170,0009 P% x# B' Q7 t/ v# S
    -------------------------------------------------------------------------
: l6 C) Z$ K3 C* q6 k6 p    Moncton          135,000     127,000        6.3%     129,000     123,000
2 [7 g7 ?' q( {2 v. q    -------------------------------------------------------------------------9 Q( Z% ?  o  a* p  R" t8 a6 h
    Saint John       141,200     142,900       -1.2%           -           -% }3 K: q. p+ ], \  z
    -------------------------------------------------------------------------7 m; T0 P% I% ?: {  ?/ D; d2 r# I* V
    St. John's       143,667     142,667        0.7%     200,667     202,333# q" J' Q* t' ^" D
    -------------------------------------------------------------------------4 [5 _9 E3 ~7 r  _
    Atlantic         150,240     145,380        3.3%     175,833     173,583! @- N* p+ S) U$ P" d- n
    -------------------------------------------------------------------------2 N$ Q4 w- `+ J: B$ m2 L* U
    Montreal         213,691     203,500        5.0%     321,141     316,185
: x5 H/ Z& w2 e  ?3 L$ `    -------------------------------------------------------------------------
3 f; D2 \1 a. \& Q    Ottawa           290,083     278,417        4.2%     285,667     273,250
8 @# m. y7 k% x( P& p9 w9 a    -------------------------------------------------------------------------; B0 D8 F$ u! M( M4 H% B
    Toronto          373,368     355,882        4.9%     481,523     474,766
8 v' ~. f$ T' ^: i8 m& {7 V# i    -------------------------------------------------------------------------3 r5 ^8 |# Z. @" ~( r# q
    Winnipeg         181,579     159,860       13.6%     202,337     180,707
' K4 J4 U' N- E% e    -------------------------------------------------------------------------/ a7 x, O) _% J7 j# G: t8 Y9 R
    Saskatchewan     170,667     156,083        9.3%     182,600     166,500& F2 s) d4 }- n$ t$ _( S
    -------------------------------------------------------------------------
7 l- b$ N- K7 Q& R4 `    Calgary          395,067     252,411       56.5%     405,778     264,389
4 ~' H; v( a0 g6 B0 S% r5 I* o  s    -------------------------------------------------------------------------
! j! P) ]. F: T( L% L    Edmonton         286,857     194,857       47.2%     316,429     206,714/ `% H$ s* i2 M- [0 y
    -------------------------------------------------------------------------" Y5 A' N' j& T/ `
    Vancouver        704,250     601,000       17.2%     794,000     697,5007 L) y: g. A+ N3 E6 p; S7 b4 K" m
    -------------------------------------------------------------------------
9 v6 O  t! _6 a! z& K  e    Victoria         375,000     348,000        7.8%     403,000     391,000( v9 H- Z# z) R9 G( b5 ?$ v$ ?
    -------------------------------------------------------------------------& x* c: H" g. Y6 \/ C1 a3 t
    National         300,365     258,202       16.3%     365,380     322,860
; T6 K" g: y# w7 f$ T' z6 |1 f    -------------------------------------------------------------------------4 [# V) z) I% H7 O9 U. L

' {7 `+ F3 \/ m; S9 X    -------------------------------------------------------------
) T- ?# o) I2 C  y4 `                               Standard Condominium
- m2 o, |: O+ t0 D# {* i    -------------------------------------------------------------
2 }8 ]% ~9 ^, b0 R' a                    2-Storey     2006 Q3     2005 Q3       Condo; Y" ], Z  I( R* |. U" U: s- ~/ j+ h
    Market          % Change     Average     Average    % Change
' w0 J- |5 z  L) ^    -------------------------------------------------------------
8 r, G. c& b8 R6 V+ D& l    Halifax            -0.2%     142,000     103,000       37.9%
6 }2 r6 o1 {: v0 E* h+ {    -------------------------------------------------------------+ D8 X5 k" i9 R2 O6 Z
    Charlottetown       2.9%      98,000      98,000        0.0%9 c/ P5 x0 I; l" H0 a
    -------------------------------------------------------------& V  {! M8 X" Z7 ~& J9 Y; O) m2 A
    Moncton             4.9%           -           -         N/A
& I" b) B" Q4 ^, i. V' E    -------------------------------------------------------------5 V' ^2 ]7 b& ?
    Saint John           N/A           -           -         N/A( Y# I3 e9 _9 J; \
    -------------------------------------------------------------; K6 x1 E7 E! S
    St. John's         -0.8%     146,333     145,667        0.5%
6 c6 p8 d6 ^7 c& n* o2 o7 r, r    -------------------------------------------------------------
: u6 Y7 K: w7 b1 ]    Atlantic            1.3%     128,778     115,556       11.4%
* ~2 N3 Z, U$ D9 C  v% N( V. j    -------------------------------------------------------------9 I* H8 W6 c( p8 F* x/ q* W4 `
    Montreal            1.6%     193,190     188,016        2.8%! K4 j3 Q' s  V7 ]: J* n" ]( h
    -------------------------------------------------------------
) ?+ k6 ?  O: q* k  e! s+ i5 u    Ottawa              4.5%     181,083     172,250        5.1%' O* S- d/ a' T$ d
    -------------------------------------------------------------
% X; V  n5 f5 [6 F8 N/ K7 ^    Toronto             1.4%     252,088     242,918        3.8%% m% o. Z$ V8 q8 j0 o- @; q
    -------------------------------------------------------------! ]! g; z/ U4 E
    Winnipeg           12.0%     105,648      96,008       10.0%
; l$ M* k' {+ W) G; F  q/ j3 p    -------------------------------------------------------------
- `7 w7 ^% ]* ~( K- k    Saskatchewan        9.7%     106,250     101,000        5.2%4 u  [4 v- c. N; n! J/ ~+ X
    -------------------------------------------------------------- G, O0 k! L+ V2 c+ v/ V
    Calgary            53.5%     245,844     153,867       59.8%# N2 [8 `) s3 Y7 ^# v1 L& O
    -------------------------------------------------------------
( q3 l) V& z/ p* _9 Q4 H1 O    Edmonton           53.1%     200,433     131,500       52.4%
' D$ B9 [8 V% I/ d    -------------------------------------------------------------* F9 T3 _. ~6 w9 H2 x7 r! J0 @3 A
    Vancouver          13.8%     366,250     323,250       13.3%  x- }& @$ C0 l& w" s3 {* V
    -------------------------------------------------------------
% R3 R1 b0 \" w  y    Victoria            3.1%     229,000     220,000        4.1%& ^2 z" L; ?5 M# b9 M" s+ o
    -------------------------------------------------------------
- U% W; w/ b- M% y9 T    National           13.2%     211,562     185,296       14.2%: X  w5 ^" z% N! U  T8 B
    -------------------------------------------------------------
% u& J1 \/ [- {! y( n1 u    >>
3 W  m) ?! P. i* j
9 J* o0 `; j8 t3 p    Average house prices are based on an average of all sub-markets examined* n- I! E: x1 q  i: {
in the area, except for the smaller markets of Charlottetown, Moncton, Saint
& d$ Y9 K9 O7 ?+ F8 w4 DJohn and Victoria." r# G: ]( m8 v' W. q8 ^' i# i

' S$ V6 R( G+ q' |5 v    The Royal LePage Survey of Canadian House Prices is the largest, most. g. B  x3 O( }" ?& r
comprehensive study of its kind in Canada, with information on seven types of
* H! T7 [* x, Vhousing in over 250 neighbourhoods from coast to coast. This release7 U) \4 G! \8 o6 w( H5 H* Q
references an abbreviated version of the survey, which highlights house price
) c) d% W& }4 T1 O* ]4 b! p% Ptrends for the three most common types of housing in Canada in 80 communities& O8 A" a  |* Y
across the country. A complete database of past and present surveys is# ~" Z7 ^9 `- l( C- D3 q0 P
available on the Royal LePage Web site at www.royallepage.ca, and current
8 S$ t+ d' U" [4 \7 x: ~& kfigures will be updated following the end of the third quarter. A printable
( E* p6 h& u6 P1 h# aversion of the third quarter 2006 survey will be available online on  O( ^( A4 a! L$ M2 V) `' ]/ V
November 15, 2006./ \1 d' q- m6 u3 K: k5 o0 G
    Housing values in the Royal LePage Survey are Royal LePage opinions of
8 U$ H. B0 C& s( B: N/ Ifair market value in each location, based on local data and market knowledge9 {4 H6 ~" t: \, ^4 N$ }* P& ?" a
provided by Royal LePage residential real estate experts. Historical data is
6 }2 _/ m- b; r1 A& p0 ~; navailable for some areas back to the early 1970s.
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