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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 & r- s0 _$ z) \- j
( d, v* F! W5 t  v/ N
- Country's market poised to show growth throughout 2006 -
" q4 d% i3 \  `+ W0 t# Y. x4 D+ T6 E# W8 L! N) s
    TORONTO, Sept. 28 /CNW/ - For most of Canada, the housing market
/ p" C3 V. K8 F0 J' I% T; w- Oexhibited moderate price increases and stable unit sales during the third/ j6 m& [0 n9 M+ x
quarter. Wide regional variances continued to be the dominant characteristic
0 M# h# Z6 X! C8 S5 @# P9 Hin the market, exemplified by frenzied levels of activity and double digit
$ z0 H" M& Z7 vprice gains observed in the energy and commodity rich Western provinces, and/ \% g4 `$ J, R6 k2 a/ o
more reasonable sales volumes and moderate price appreciation in Ontario,* z* P( _7 Y: @, B# J6 ?
Quebec and Atlantic Canada, according to a report released today by Royal; r% G# t/ y  k  J  {. v
LePage Real Estate Services.
) N& ~7 e' M/ _# B/ I5 z( Y  J5 H0 L  L; u2 E6 \: n( l: e1 ]  ]
    Nationally, market trends established through the first three quarters
7 ~' P7 Q$ W9 t5 t% O1 Dare forecast to continue for the remainder of the year. Robust economic" h0 h( A; S6 ]7 I5 [
conditions, low unemployment rates, modestly growing salaries and wages, and5 v" ?* z& g! v4 t0 `* @
sound consumer confidence contributed to the overall strength of the0 O# y+ V5 v  ~6 o
residential real estate sector.( T- W7 D- e" n/ B: g
8 B0 o+ ^* \: g/ g- j2 }4 ]
    Of the housing types surveyed, the highest average price appreciation) X- N0 c" ^0 q1 Y, E( u: y
occurred in detached bungalows, which rose to $300,365 (+16.3%)4 w" N$ b, B+ a# s, d% W0 Q
year-over-year, followed by standard condominiums, which rose to $211,5622 v% N$ {" N4 o
(+14.2%), and standard two-storey properties, which increased to $365,380
5 O3 G1 d& G4 W# c(+13.2%).; x% p" p# x7 d" ]/ ^  B0 v$ @

3 b2 n9 ?5 m% X/ b" T    "Canada's sturdy housing market continued to demonstrate steady growth! l: V# Q) l9 A) D
during the third quarter. For all but the west, we have moved on from the
# q) d4 m! K/ }. H4 E  \0 q2 r1 d9 ~/ hfrenzied expansion that characterized the first half of this decade, and are
; P: c; v: \7 ^% g8 b; s9 ipoised to show continued growth at a more moderate pace," said Phil Soper,
5 u! \+ Y1 C! m/ Upresident and chief executive officer, Royal LePage Real Estate Services.8 E- |/ @0 Q' f. o( ~8 z
"Gone is the sellers' market that we have lived with for some years. We
$ h' w/ U& e7 Y) S4 @: Vwelcome the more reliable conditions that are characteristic of a healthy
0 c1 ^, n/ }9 c  V, Cbalanced market."5 t9 N. q) O7 n( {1 ?
1 ]2 `' b& G" M4 O9 V% z( l; }3 r! l" n
    Despite the double-digit rise in average national house prices,& r1 C8 ?! G& r  a% q; b+ n
considerable regional variances were exhibited again this quarter. The shift1 o1 Z! x: ^# C
to balanced market conditions, which began in late 2005, has continued( F" o3 ^+ R3 e0 o' A
throughout most of the Central and Eastern regions of the country. In the core4 O& N3 D# R5 K! l  d
energy producing western provinces, the combination of very high in-migration,
8 J9 ~* ^( {1 v5 Dmanageable affordability, and a shortage of inventory has driven record) P0 q; s! X* y5 M/ t1 g8 f( X
breaking price appreciations.% a  H6 e! K7 _4 c; P  M
8 P/ _! u2 L% v" w. g
    Echoing the second quarter and supported by Alberta's rapidly expanding
% I& e- K" F. P) G9 n% X2 Teconomy, Calgary and Edmonton led the charge of Canadian cities with the% m6 F& O2 |1 Y  l2 v. B: K' g
largest house price appreciation in all housing types surveyed.
  j+ `2 G5 V, ?* M) X* [8 l' H2 q8 R6 a7 p) r. C7 C
    In Ottawa and Toronto, growth remained steady, supported by solid) M( ?2 {- X0 l" B9 e+ ^
economic fundamentals, an increase in available inventory and strong consumer
& X# D- t5 q. z2 mconfidence. While the pace of price appreciation in Ontario leveled off  _0 x" r: h( Y1 [' Q9 y
slightly, the province's real estate market remains poised for modest growth.0 ^4 P/ o1 r. S6 ?$ J- p
In Atlantic Canada, new housing and condominium construction offered buyers# O2 p" J4 _2 H  j" Y. o7 D+ ^/ x
greater selection at more competitive prices, resulting in a slower rate of6 d$ F. L) u+ u/ N1 j! r0 u0 `
price appreciation when compared with 2005." C* _9 C/ {! i1 [! @  j

: M( F: s4 G; c0 \, M& k' @    While the pace of growth in Canada has slowed, the domestic housing1 o* b/ L7 T, d5 X
market is expected to outperform the American market. The economic and
! Z* }3 b' L6 n2 x; O4 S3 M4 ?financial fundamentals driving the residential real estate sector in Canada7 t0 B8 ^* B0 Y7 n: c
are markedly different than those found in the United States.
! U/ L4 O4 _& N' Q6 q7 }( k$ l
( m3 `; j/ [9 j; _3 L* T    Added Soper: "Canada's housing market is likely to outperform the
3 z7 d. u8 v* |$ _: j6 y# {American market through 2007. A number of factors are working in Canada's
# a! I8 i4 A% N. }favour, including healthy personal and governmental debt levels, the( U% X" |3 h4 a  w7 a
relatively modest rise in interest rates in our country, and general
. t8 R1 ]  k# D: e& S$ Qaffordability in our major cities. In addition, Americans are now seeing the
% c9 W# S2 t) W9 \4 X, {downside of a tax system that encourages maximum homeowner leverage, and
8 {' L7 \! H1 N( Baggressive financial products such as zero- and negative-amortization
* \+ s0 v1 L, C# vmortgages that work only in a high price growth environment."
$ h; a& h, R' ?1 P2 j9 i# n4 }9 T) a: {6 h7 H$ A5 d
    <</ B( y" ^& j$ \2 C& S
                             REGIONAL SUMMARIES2 f8 W8 }& i. h
    >>
0 p) F8 u! z; r. n6 P: \! D9 A- {. V5 }% S% M6 y
    Balanced conditions continued to characterize the housing market in* n& m& v* A% w: z% D0 Z* b! |
Halifax, as significantly higher inventory levels helped to moderate the rate
9 \* h) p; V5 h& C; U* O" k& Tof price appreciation. Buyers were increasingly choosy, taking more time
, I0 L# ]5 J, d; O2 u& W; y. l& Dlooking for newer, low-maintenance properties that were not in need of) [  v) q0 r" ~  S5 C% j5 W8 L8 S) x
renovations.
7 Z& `) u: r3 Z% x
4 |& @8 ?: y/ }0 N, G; I; o" U2 a! `    The housing market in Moncton remained healthy and strong as a slight
' a  X/ h$ [+ B$ }) ^increase in inventory helped to moderate the rate of price appreciation# ]7 [4 }$ a- m% e4 B: L- j
compared to the same period in 2005. Activity was brisk throughout August and
8 g! M6 s; K" }8 NSeptember and is expected to remain this way through the fourth quarter.0 ~+ j' R- M6 Y& O2 {+ j5 m
6 a! [* a' f0 y
    The housing market in Saint John underwent its traditional summer
# Z- z! z8 D% oslowdown in the third quarter, with activity picking up towards the end of the$ o$ S8 J+ c8 Q6 }! Q+ r; d
quarter. The local economy continued to thrive, as construction on a new' r% k+ L( @3 h
600,000 square-foot shopping area has begun, bringing several new box stores
( o4 _. i2 I4 vto the area. Buyers have begun seeking less expensive fixtures for their homes! N8 E; _$ h3 \& c# X6 T
and are instead opting for more affordable housing options.
# f1 a6 ^) Q6 k/ i' a7 e( d
6 z2 H9 F; y- A9 T% z6 ~  Q0 q% q& S    In Charlottetown, the housing market started to move towards balanced+ E; b- C& q7 D5 n
conditions, as some sellers had to begin to lower the asking prices on their
" p" v2 ?7 W8 P* k5 x+ t7 Uhomes to make them more competitive. Activity from out-of-town and US buyers
$ }4 w( P. E! w! F3 jwas down slightly compared to 2005, likely attributable to the strong Canadian
; U. _2 G$ k9 Q5 H  idollar. Inventory levels began to creep up in the third quarter, providing
1 `* Q$ ^0 d" `8 tbuyers with more options when looking for a home.+ Y; A% T, ~# W" E$ q

- H/ ^: f0 \5 s  F( u7 w    Activity in St. John's slowed slightly in the third quarter, particularly0 s  p% T; v3 G; Z3 @; m
among higher-priced properties, where there was a slight over-supply of homes( f: P: ], `. d; y' @- L, n
priced over $200,000. Listing periods have increased when compared with 2005,2 n& U/ W' L8 @0 ~+ i" {+ d, ^
as some of the pent-up demand that had characterized the market over the last' M- Q% K. d; @. l2 o+ [( D
few years has been satisfied, resulting in more normal, balanced conditions.2 r$ G! X! C; V3 C8 B9 k1 L- E
. V# d* W) i9 C2 j. [
    Montreal's housing market recorded modest increases in average house8 q4 n0 q, T+ Q/ j" `; Y
prices, due to a slight seasonal slowdown in the third quarter as inventory; d, V% D) J+ ^. Z% U8 n% }) M) U4 {8 F
levels rose. Part of this can be attributed to the fact that many renting
- ^/ x$ ]  L9 S; \& pfirst-time buyers were motivated to close on the purchase of a home by July 1,! `( o! [; z/ j# G. c5 H# `7 F
when rental leases expire in Quebec. Once this date has passed some of the
7 c8 Y" u+ e. d! S) {; f* mpressure is taken off the market, allowing buyers to visit more homes before6 N0 a2 k( l2 u8 p& H) ^
making a purchase.
3 K! i/ \* e8 o4 G4 N+ ~# m/ X, _3 ~' l2 N4 G
    Ottawa held its position as one of the country's most stable housing; p6 Q2 ^6 B; O" K
markets in the third quarter, reinforced by a vibrant local economy and strong- W' z0 w; j' \2 Q/ G! [
confidence, resulting in modest increases in average house prices. The city( E  b5 E/ C- y
centre remained a bright spot in Ottawa, with homes in this area attracting
9 h5 x! i% l6 m$ r: Q/ p9 J" Jattention due to their convenient location and proximity to downtown
) P' r5 Z! F' r; aamenities.
+ X# ~) X. y; Y; K! R' {
% U: \+ b4 U: m' q" o    The housing market in Toronto sustained healthy activity levels
9 S2 S0 c& S: O4 Q5 e. Othroughout the third quarter, as a strong economy helped to maintain demand  E" e8 b7 [; S8 _3 t1 \' c  e. Y
across the city, causing average house prices to rise moderately. Toronto has
/ |. ^: z( d! |: I: U' v$ dcontinued to experience modest growth in average house prices, and has been
; }4 y- F& f1 r7 pdriven primarily by purchasers who are buying homes as their principle9 r; _8 h! L# ]$ A: x- y6 D8 L
residence, rather than for investment.; |, I! Z( K4 V. U3 Y* C

. `5 M' ?4 ~, x" X9 X    The vibrant Winnipeg housing market continued to show its strength as
; V( A& t( U' U8 nhouse prices rose during the third quarter. The booming local economy resulted9 {- U$ A5 b2 s8 e
in a historically low unemployment rate, helping to bolster consumer" ^6 ^* |- c. D7 B4 D# B( _# z$ G: P
confidence and Winnipeg's ranking as the city with the lowest capitalization
# h( T% f3 C0 R# Hrate among the country's larger cities - helped to encourage buyers to enter. O5 K: U4 y) L8 q2 X
the market.
( F* |) x7 m! r4 n+ Z  \) Y" N3 f6 d2 L( M9 g
    In Regina, the market experienced a slight seasonal slowdown through
2 i$ ?* D' u3 {3 e8 tJuly, as there were fewer purchasers in the market due to summer vacations. In
- @" c" Y7 q4 A* E9 @% H2 u. UAugust, activity resumed to the busy pace previously seen in the spring
/ ]4 x8 p1 b4 H% m: Smonths, as the influx of purchasers made it more difficult to find a home due
1 @# A6 p  v1 b1 vto the shortage of available inventory.) U; [" `% @+ ^$ `$ G  W

- F  f# a* s# H1 I& m% R    Activity in Saskatoon remained brisk as the market maintained its6 r* z- P' A4 r
momentum from the busy spring sales period. The economy in Saskatoon remains
7 j- ^: X. ^4 vvibrant, as employment opportunities are abundant with many businesses" ~, l" Q" }. N! K3 M
struggling to make hires and having to recruit outside the province.( f! L; C1 f2 q; T9 o0 }7 F
7 c- M% F& u8 p5 d# L' Y
    Calgary's housing market recorded blazing average house price increases2 s. f1 R; k( l! f7 f8 T
in the third quarter, in all surveyed categories. The burgeoning economy, low
# Y% @6 W# D* S5 \8 T# zunemployment rates and low inventory levels remained the leading factors that
" }, c! V, A  z: ^pressured Calgary's house prices upwards. However, regardless of the soaring
6 ]& E2 A  v  ~$ j( K: ?prices that characterized the market - even during the typically slower summer
' r: f! `) |4 s- N  r8 Fseason - it is expected that activity will become slightly more balanced, as6 U$ ?0 h1 s5 ]' X$ x/ Q" D* n
buyers are becoming more reluctant to participate in the frenetic activity.

; D0 n4 U( |7 r! |
: D# z. z! H7 s+ a9 ~    Edmonton's booming local economy continued to thrive in the third quarter
& H: \+ b4 j  |' gas activity in the oil sands north of the city continued to flourish. Edmonton' r1 p* C9 |( s
remained the hub of activity for those coming to work in the oil industry,: {" U4 Y* [0 y8 c
maintaining tight inventory levels across the city, resulting in prices5 a. H- O7 M5 M4 L& p5 Z6 W1 N! E' L
increasing at record levels. However, as inventory levels continued to improve  o" T; q& E2 p+ J! Q, ?
in the third quarter the rate of price appreciation should moderate slightly
$ y  P) o- c$ _2 }4 s2 P; Stowards the end of 2006.
   
# R* h5 B! w% f( u7 M5 S7 i4 G
$ V' h+ G" S  t. mWhile Vancouver has seen a slight reprieve from the severe shortage of
0 J2 }! b/ v( f& A; ]inventory that had previously characterized the market, supply is still unable
) p5 G+ s' j4 m& Nto meet demand, driving house prices upwards. Vancouver has a very diverse1 X* b$ F9 D% l" q5 B
group of active buyers - from first-time home buyers to baby-boomers to
+ Y6 T. r, x& E/ v2 Lforeign investors - all of whom fuel the demand for houses, placing added
- F9 B- I8 K/ w$ Q& cpressure on tight inventory levels.
( e: D1 X" b+ B% t6 ~9 W" ?! c
4 v3 o  B/ Q2 x    Victoria's market is vibrant and supported by strong economic7 Y) ~4 _6 I. ^7 M9 l
fundamentals, fuelled by a booming tech sector and a migration of young people. a; @% q- A5 ?" k. b
into the city that has continued to support the area's house price increases;
/ k$ C% o( \4 N" D& O, Rwhile increased inventory levels have afforded buyers more time when searching
' l! w. K$ \* u/ D7 ~5 _2 k* Ofor a home, helping to normalize the market's pace.
  z2 B6 V0 s( \. x+ g: @4 W) P* h, B9 H3 C+ Q- B/ L
    <<3 W; p5 r/ s1 B$ }& B2 N; U
      Survey of Canadian Average House Prices in the Third Quarter 2006# X& i# O# a6 v, e& I% O, l

# e/ Q( p3 ~8 s    -------------------------------------------------------------------------
" f! d8 a$ H: T                 Detached Bungalows                Standard Two Storey# e8 d! `0 P; W. C. B7 B. K" t
    -------------------------------------------------------------------------
; b) [2 t' s1 @                     2006 Q3     2005 Q3    Bungalow     2006 Q3     2005 Q3
4 d6 j: o. i2 Q# b    Market           Average     Average    % Change     Average     Average
0 T- u4 G- D) G6 P9 w: _    -------------------------------------------------------------------------
9 d2 m  [+ P- c/ T. f    Halifax          186,333     173,333        7.5%     198,667     199,000* H  P8 F1 T% R% h
    -------------------------------------------------------------------------* ~: T# ^. K. `1 E
    Charlottetown    145,000     141,000        2.8%     175,000     170,000
7 \8 t0 {. w0 Y  Q  }: @* G    -------------------------------------------------------------------------+ s  H' ?: d4 d% S
    Moncton          135,000     127,000        6.3%     129,000     123,000- f' i4 b" V' l. n0 z
    -------------------------------------------------------------------------
7 O  S- [! }" y& Y8 p- X    Saint John       141,200     142,900       -1.2%           -           -
, ^: E% i7 D' r0 h    -------------------------------------------------------------------------
& N) g! g6 P  B7 Q5 I8 v9 g* Z    St. John's       143,667     142,667        0.7%     200,667     202,333
0 O6 n8 H8 t# l- g: v2 w1 _5 n/ P& P1 U    -------------------------------------------------------------------------
9 [# X) s+ O: N, }8 W! h: q( L    Atlantic         150,240     145,380        3.3%     175,833     173,583
! ~, R$ c3 _; b, t" y. P" m    -------------------------------------------------------------------------
) V6 Z: W, O9 a    Montreal         213,691     203,500        5.0%     321,141     316,185
+ J3 s& g/ M: \2 p% E    -------------------------------------------------------------------------  H* @6 n/ O, ]9 E
    Ottawa           290,083     278,417        4.2%     285,667     273,250  V0 v) [3 M8 W# B2 C+ \4 P3 l
    -------------------------------------------------------------------------6 W# G8 k  g4 B, j5 d
    Toronto          373,368     355,882        4.9%     481,523     474,7661 ~1 }3 @8 `- h# t
    -------------------------------------------------------------------------- W3 }7 |! w' Q
    Winnipeg         181,579     159,860       13.6%     202,337     180,707
, @. W# m; O# t% T! k8 U    -------------------------------------------------------------------------
% c4 }3 h$ z4 B# v$ H# x- A    Saskatchewan     170,667     156,083        9.3%     182,600     166,500
5 h- j9 z" ~2 A: c7 m  [  M/ v' t    -------------------------------------------------------------------------
# z5 {  v, b& ?6 f. u    Calgary          395,067     252,411       56.5%     405,778     264,389
, X- y, z& m; _( j    -------------------------------------------------------------------------
% F6 O- R0 M/ O2 _/ [    Edmonton         286,857     194,857       47.2%     316,429     206,714- G9 S5 H9 H. |6 v8 ]( E# T9 M
    -------------------------------------------------------------------------
* S# ^4 }- f, v    Vancouver        704,250     601,000       17.2%     794,000     697,500
  H: b+ {2 u( r6 e& g    -------------------------------------------------------------------------4 ~  d# y6 Q2 o# F
    Victoria         375,000     348,000        7.8%     403,000     391,000
' g$ t4 [" V" j    -------------------------------------------------------------------------
* D4 e. b+ V6 k( P& m+ O8 U: U    National         300,365     258,202       16.3%     365,380     322,860
3 N8 _+ o: J. {. [; [! v    -------------------------------------------------------------------------
% a% s+ X+ [/ j6 t) r+ I( m4 `' C  t, p$ p! Q$ J; ]$ \( y* k
    -------------------------------------------------------------
: m& G4 h5 h" j                               Standard Condominium0 j" ^: z( E% m4 U6 x1 l# X
    -------------------------------------------------------------, q( _* \& @( r% Y4 q) @# s
                    2-Storey     2006 Q3     2005 Q3       Condo
  ~6 d4 F6 X! S# Q6 q1 Z  y; i    Market          % Change     Average     Average    % Change
- s) {' a5 n' P: f1 Z    -------------------------------------------------------------. _0 u4 u# ^9 y* I
    Halifax            -0.2%     142,000     103,000       37.9%
% `( _$ e4 [, G* o# }. u    -------------------------------------------------------------
+ r. Q: c( n, a1 q) L    Charlottetown       2.9%      98,000      98,000        0.0%5 n, @9 v, y  ^; @
    -------------------------------------------------------------4 d, a$ A6 ?9 R) H* \
    Moncton             4.9%           -           -         N/A0 S& z" }2 a! r. Z) y9 |, Y
    -------------------------------------------------------------1 g7 j% O: h+ o+ D0 u5 R0 c$ l6 W' u
    Saint John           N/A           -           -         N/A
% y5 Z) v. ]$ e5 @& I. Z    -------------------------------------------------------------
9 C: n& Z- Q. S( ?    St. John's         -0.8%     146,333     145,667        0.5%
0 Y# G1 b2 m# ^2 M    -------------------------------------------------------------  S! }% \5 y7 J! C( s3 r
    Atlantic            1.3%     128,778     115,556       11.4%
- w1 M2 }7 F0 Y    -------------------------------------------------------------
& G0 P' v' I5 H9 d    Montreal            1.6%     193,190     188,016        2.8%
! ~7 X+ k0 f' k/ _) G( e    -------------------------------------------------------------
$ q' X# E$ [; ^2 Q- G8 n1 L( Y    Ottawa              4.5%     181,083     172,250        5.1%9 k% n; \& v5 L0 i* Y9 H! _
    -------------------------------------------------------------
& X1 s: |$ w- Y# V8 p0 J, w    Toronto             1.4%     252,088     242,918        3.8%
0 u2 [6 _* e- D% L  O9 D    -------------------------------------------------------------/ E! I0 a% B9 l" F8 d; r) @8 X3 u
    Winnipeg           12.0%     105,648      96,008       10.0%
/ T7 L* ^5 q6 R7 s# x3 F    -------------------------------------------------------------( K' T/ N# a# ^7 F4 T0 Q" B9 q) U
    Saskatchewan        9.7%     106,250     101,000        5.2%
7 {2 I* c( i5 ~7 @8 [& c) p4 {  M    -------------------------------------------------------------
0 C8 |( E2 b- b) b+ N    Calgary            53.5%     245,844     153,867       59.8%: t1 G5 C, U7 y" U3 y/ o
    -------------------------------------------------------------6 Z. P: r/ h! R9 }9 _: x
    Edmonton           53.1%     200,433     131,500       52.4%& A  ^4 U+ M) W, d* X. [+ h& v- K
    -------------------------------------------------------------
5 k; D  E0 T5 N    Vancouver          13.8%     366,250     323,250       13.3%
5 x% W1 {' Y5 q: d    -------------------------------------------------------------
4 \0 _( z/ l% K0 d    Victoria            3.1%     229,000     220,000        4.1%5 \5 N& q$ u- _8 D! Z
    -------------------------------------------------------------7 C- V% N& q, N
    National           13.2%     211,562     185,296       14.2%
0 q- N' R/ o8 v% j9 @    -------------------------------------------------------------6 P. K: z, s5 V: b
    >>( u. c/ c+ m- ?1 v# m( e) Q  r
5 G/ s+ i0 x% Q/ O* T: h6 B
    Average house prices are based on an average of all sub-markets examined; r( o6 W. \; h. L1 X8 q3 ?+ ?" p" i
in the area, except for the smaller markets of Charlottetown, Moncton, Saint
# m7 q3 j6 H5 UJohn and Victoria.
+ _1 j2 Y6 H1 J+ D1 x  T# w( U' x+ x7 `. R2 q6 P3 w  Q
    The Royal LePage Survey of Canadian House Prices is the largest, most
6 _4 ^$ }9 U- y- v) R$ Mcomprehensive study of its kind in Canada, with information on seven types of
" T# W$ U. a+ ~. y' U5 Ehousing in over 250 neighbourhoods from coast to coast. This release
6 f' H+ \, o* E0 r) a  l( Freferences an abbreviated version of the survey, which highlights house price/ r- P& g4 W0 u& O3 b
trends for the three most common types of housing in Canada in 80 communities1 m0 d6 ~/ H9 k. i4 B$ z) {
across the country. A complete database of past and present surveys is4 b- u2 J* U# W9 U; K$ A+ @
available on the Royal LePage Web site at www.royallepage.ca, and current
7 S0 @( N; a# m: O5 Z$ a0 Vfigures will be updated following the end of the third quarter. A printable
. E) A& G. X7 Qversion of the third quarter 2006 survey will be available online on4 c5 Y) m  v! T2 C
November 15, 2006.# T5 c2 x/ G% ^( m) F; i( x# H* k
    Housing values in the Royal LePage Survey are Royal LePage opinions of1 G2 i! K" K- I6 V! G  @+ B, k
fair market value in each location, based on local data and market knowledge. F( e, n" N3 W1 D9 ^" N+ N4 E
provided by Royal LePage residential real estate experts. Historical data is
9 F/ C1 ^3 D, l$ Tavailable for some areas back to the early 1970s.
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