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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 * E" Z0 V2 z! g. W3 g6 Y

$ O3 P/ a$ D& F/ T* ^0 i% }* G- Country's market poised to show growth throughout 2006 -
6 d5 G6 J1 P/ g- R1 R# e- \: m) I: m$ a; u/ c" [
    TORONTO, Sept. 28 /CNW/ - For most of Canada, the housing market! b- o4 o6 Q$ b& F2 b" u. g6 x
exhibited moderate price increases and stable unit sales during the third  M4 P7 e: U- f& P
quarter. Wide regional variances continued to be the dominant characteristic- L2 z& W% Q* Y8 }2 G9 V% h0 q+ O* y6 G
in the market, exemplified by frenzied levels of activity and double digit
0 B  n# S/ P+ v# v. k- {( Mprice gains observed in the energy and commodity rich Western provinces, and  U& k: S- T4 ^: p$ ]8 y
more reasonable sales volumes and moderate price appreciation in Ontario,
4 J8 P$ v& f8 |5 x+ ]Quebec and Atlantic Canada, according to a report released today by Royal
. V( O. E6 J) W3 N8 W0 ILePage Real Estate Services./ h& h9 I. \4 s, Z1 u& [# d3 E
' x# k7 n' g0 p/ }- ^
    Nationally, market trends established through the first three quarters
$ }  T3 [* w& t0 ^: @are forecast to continue for the remainder of the year. Robust economic
9 a& X# w. K* t# \" w% \conditions, low unemployment rates, modestly growing salaries and wages, and$ N7 L' g& t7 \/ P0 x5 R+ m* b
sound consumer confidence contributed to the overall strength of the
5 ^5 c7 h5 ]/ d( W. z$ m& k+ ]- N, @+ _residential real estate sector.
; |4 w( Z; ?* b. q4 j4 M8 H0 I  \3 N( c: n
    Of the housing types surveyed, the highest average price appreciation
; l) F# z" R7 v: I) ~occurred in detached bungalows, which rose to $300,365 (+16.3%)& _: b. y; f. r+ T6 e* R
year-over-year, followed by standard condominiums, which rose to $211,562
! O" g+ I7 q+ v! G& K& D(+14.2%), and standard two-storey properties, which increased to $365,380
& y: E; Y. Z8 y5 z) S(+13.2%).9 r3 K  e4 ~( B; j

4 d" b0 }' m9 k8 x3 m    "Canada's sturdy housing market continued to demonstrate steady growth0 A$ m6 N7 q! E1 m- ^; S
during the third quarter. For all but the west, we have moved on from the: g1 Y" y4 d% E; u! ]. A. {
frenzied expansion that characterized the first half of this decade, and are
- I" h9 X9 V9 B4 g  E& b  \, g& Vpoised to show continued growth at a more moderate pace," said Phil Soper,; s/ X0 l' m! ^5 @3 }8 w6 f
president and chief executive officer, Royal LePage Real Estate Services./ Q4 `. L+ j( B) T4 s6 U' P
"Gone is the sellers' market that we have lived with for some years. We1 @4 p) |( k; J9 [6 X( y
welcome the more reliable conditions that are characteristic of a healthy! e5 b- `- T9 c" ^4 X' C$ d
balanced market."
. e: p2 f# s" r4 w; s
: b/ m. ^$ M6 D5 S  ?    Despite the double-digit rise in average national house prices,
& a' D  ^- m. b  n( y* E  ^6 A- {+ jconsiderable regional variances were exhibited again this quarter. The shift
+ V; t; ~4 n9 ato balanced market conditions, which began in late 2005, has continued; f( e+ V6 S" Q- \
throughout most of the Central and Eastern regions of the country. In the core  v; ~2 F  a- |0 d
energy producing western provinces, the combination of very high in-migration,
: W1 ^5 ^: Y3 ~8 A* Tmanageable affordability, and a shortage of inventory has driven record
) {* t/ g4 V4 Kbreaking price appreciations.$ _1 e, U, P: v3 b7 ^1 d) H* Y

8 @2 T. y  Q6 [0 `4 X: T$ Y, i. e    Echoing the second quarter and supported by Alberta's rapidly expanding% R* P7 o2 I: _0 ^1 J' N) U
economy, Calgary and Edmonton led the charge of Canadian cities with the3 f5 D% b# u: J' G: f
largest house price appreciation in all housing types surveyed.
) ?% m, e: ^4 S6 m' \7 j' H  V0 {
! ~5 b4 `4 m% U' s' A    In Ottawa and Toronto, growth remained steady, supported by solid% o( \; u8 a% v- M
economic fundamentals, an increase in available inventory and strong consumer+ ]$ v/ }, r& n+ \& G6 u+ o& p
confidence. While the pace of price appreciation in Ontario leveled off& }. X: p2 K6 `0 M! q
slightly, the province's real estate market remains poised for modest growth.
, Q  q8 M! y1 V  F4 \" ZIn Atlantic Canada, new housing and condominium construction offered buyers, o1 e4 ]7 C9 E) s2 X
greater selection at more competitive prices, resulting in a slower rate of7 B1 M* {3 U! X( w
price appreciation when compared with 2005.
4 }/ \# B$ l  T
$ b+ W9 z1 C, D! C9 I    While the pace of growth in Canada has slowed, the domestic housing% B3 Y- g8 x" Z; j' y* ~7 q" K
market is expected to outperform the American market. The economic and
) s, ~2 V, U  y$ p) [/ j9 dfinancial fundamentals driving the residential real estate sector in Canada8 b3 q' ?, W! i: q2 w9 O
are markedly different than those found in the United States.
/ C' W1 i5 m' w: E3 @0 @+ z0 Y
    Added Soper: "Canada's housing market is likely to outperform the8 ]- [0 q# x' `! r9 j* R
American market through 2007. A number of factors are working in Canada's
3 ~/ q! q  U7 s- a( x5 Ffavour, including healthy personal and governmental debt levels, the# q! ]8 G( t9 L0 d9 x
relatively modest rise in interest rates in our country, and general
9 s# v, r0 ~3 L9 Naffordability in our major cities. In addition, Americans are now seeing the
0 P) p! y+ f+ R/ b1 ]downside of a tax system that encourages maximum homeowner leverage, and1 p2 A: J( t) X9 o" F: M/ z
aggressive financial products such as zero- and negative-amortization
. l0 c/ y2 ]+ ~9 {) ?  i/ f  _( ~mortgages that work only in a high price growth environment."! `3 h/ d3 v3 F

% ~( F4 ^4 Q4 [5 ?8 c    <<& U" |" x, o8 P4 [# r
                             REGIONAL SUMMARIES2 D& p) B4 _6 I. s9 k- M1 m6 W( [
    >>
0 r; H: M- b, K, D' R/ k7 x: ?+ A2 z9 Z3 v2 p
    Balanced conditions continued to characterize the housing market in
. i3 h  U6 i: i$ UHalifax, as significantly higher inventory levels helped to moderate the rate
6 b, h6 \( S, }5 Kof price appreciation. Buyers were increasingly choosy, taking more time
; e% b$ D1 M* v! W% Klooking for newer, low-maintenance properties that were not in need of3 x5 D2 F3 s9 N! l3 Y7 i9 J
renovations.9 D9 Y( z, u6 W; x4 ?# q

4 G8 y$ Z/ q/ W# w    The housing market in Moncton remained healthy and strong as a slight, b# d8 N7 o; H. {* R4 n# E
increase in inventory helped to moderate the rate of price appreciation6 ~9 t/ v$ ~- D( U* _
compared to the same period in 2005. Activity was brisk throughout August and% P) [7 }$ ^5 M" c( b
September and is expected to remain this way through the fourth quarter.
* f% T& E; w$ E- y3 c4 p. F- ?
; L. Y; P* A+ B! b) |5 n    The housing market in Saint John underwent its traditional summer. y; C: Z+ T9 e2 S6 u1 [! j1 c' {
slowdown in the third quarter, with activity picking up towards the end of the
) u, [4 v" X# R0 e1 q/ A) Dquarter. The local economy continued to thrive, as construction on a new% D4 o) D: x; M6 q7 Q) e
600,000 square-foot shopping area has begun, bringing several new box stores
" p9 I: P. ~) o( j4 _+ Sto the area. Buyers have begun seeking less expensive fixtures for their homes7 ]0 G0 u; }2 Z: |. Q) J: }( Q
and are instead opting for more affordable housing options.
; J. V* ?9 g- N
; j& c6 }- R# \* i. S8 }+ O    In Charlottetown, the housing market started to move towards balanced6 H3 t$ C& e! P# I& g' T. r2 |
conditions, as some sellers had to begin to lower the asking prices on their* H4 v* H. W* P. [
homes to make them more competitive. Activity from out-of-town and US buyers
5 ~/ }' P, F0 ]! ?5 ]* X/ }/ Q, \was down slightly compared to 2005, likely attributable to the strong Canadian/ n: [; I8 o% ]' d( N7 ^
dollar. Inventory levels began to creep up in the third quarter, providing0 S- Q. t5 Y8 J. I0 o4 F
buyers with more options when looking for a home.
& |! G. f1 p5 Z. L% {. @4 m6 z3 o! r4 M$ |. ^
    Activity in St. John's slowed slightly in the third quarter, particularly
7 [4 r9 q+ }8 i9 r' G; p: ramong higher-priced properties, where there was a slight over-supply of homes
" f9 }, \( G9 F8 ?( {: Jpriced over $200,000. Listing periods have increased when compared with 2005,1 e7 O$ H7 j5 _5 b6 A& q5 K0 J2 J
as some of the pent-up demand that had characterized the market over the last
9 a/ \  x3 X) |few years has been satisfied, resulting in more normal, balanced conditions.+ ^* j, J+ U* O# c9 x/ V
3 \( E, F+ O& \! Z
    Montreal's housing market recorded modest increases in average house4 Y( j7 v, j# O5 Z& O! h9 @! z
prices, due to a slight seasonal slowdown in the third quarter as inventory$ L7 Q1 S* z1 R- W9 l1 ?: S' @
levels rose. Part of this can be attributed to the fact that many renting
/ Q* {# K( @) B$ P7 Pfirst-time buyers were motivated to close on the purchase of a home by July 1,% u& y" m9 a: p! |, p- |5 \! _) w4 J
when rental leases expire in Quebec. Once this date has passed some of the: S2 ?6 x6 c5 d, S" J$ F* \7 u
pressure is taken off the market, allowing buyers to visit more homes before
& z" g0 G  D# V1 q+ b' E( @making a purchase.7 L) h* S# W% ^2 }" E
9 V4 i' s- \! _3 \
    Ottawa held its position as one of the country's most stable housing8 \$ q* p$ A6 R+ {* J. j
markets in the third quarter, reinforced by a vibrant local economy and strong
# f4 h6 G2 O5 u! d- H! k" cconfidence, resulting in modest increases in average house prices. The city
: g9 z/ H; q, }# D6 I7 W* acentre remained a bright spot in Ottawa, with homes in this area attracting6 k% ?0 o/ k; D& o9 J+ T
attention due to their convenient location and proximity to downtown$ I% G: `4 _8 b" E" Y* |
amenities.
* s' q; A% D8 f0 b/ p- P2 }- y( B  p+ t; _( Z
    The housing market in Toronto sustained healthy activity levels7 q, `) ^3 x  P
throughout the third quarter, as a strong economy helped to maintain demand
2 H: ^& f3 |$ k- e2 Y* g9 Wacross the city, causing average house prices to rise moderately. Toronto has0 U% U7 V+ m& S/ b2 _: N
continued to experience modest growth in average house prices, and has been
, u5 {+ ^" e  z( E; x2 x( j  Wdriven primarily by purchasers who are buying homes as their principle
/ K( I( k. J7 z- g- y2 Z8 uresidence, rather than for investment.
0 q  \; z' h2 b# p) K+ ^* s
  G, u4 F3 c/ P" j6 t    The vibrant Winnipeg housing market continued to show its strength as% B, h8 l0 k. L+ j" }
house prices rose during the third quarter. The booming local economy resulted% F3 h" @: E! ~4 r  b" C6 o
in a historically low unemployment rate, helping to bolster consumer
) p' m; D9 B8 }- y  o! |0 tconfidence and Winnipeg's ranking as the city with the lowest capitalization8 d, ?# s: K8 O2 f
rate among the country's larger cities - helped to encourage buyers to enter& _1 L& B# J5 d) K
the market.
" c( s& E) h3 G) d- o# h! `0 n# X. b( N$ t* Q8 ?
    In Regina, the market experienced a slight seasonal slowdown through7 ?9 D3 H# z( N9 B& N
July, as there were fewer purchasers in the market due to summer vacations. In
+ l2 B( ~7 @/ e: _/ `  eAugust, activity resumed to the busy pace previously seen in the spring
5 y( w; p8 X: `5 K8 T/ P' L3 Fmonths, as the influx of purchasers made it more difficult to find a home due
/ M/ O1 z9 R# i" u0 Pto the shortage of available inventory.
1 M! t/ m5 Z* r
  W' Q4 K; {/ V: Y) E9 c' d    Activity in Saskatoon remained brisk as the market maintained its
8 i) P5 M, q& s1 m4 `- imomentum from the busy spring sales period. The economy in Saskatoon remains
- }3 @4 v! c2 D" o- wvibrant, as employment opportunities are abundant with many businesses
- \' ^% v- @: a2 P" a9 J0 Vstruggling to make hires and having to recruit outside the province.& I6 Q, l4 `6 u- I8 S
! P; e5 w# p: l' x
    Calgary's housing market recorded blazing average house price increases' H. H/ O7 \  y8 J; x. X1 H6 h, y2 p
in the third quarter, in all surveyed categories. The burgeoning economy, low- N6 \+ S0 `' d; z' x
unemployment rates and low inventory levels remained the leading factors that; r% o7 S" T! [# G0 U8 V' M
pressured Calgary's house prices upwards. However, regardless of the soaring4 f. o) C& ]" O, Z6 D, [
prices that characterized the market - even during the typically slower summer* P8 F4 g7 A3 _0 A+ h3 d6 D- ]
season - it is expected that activity will become slightly more balanced, as
4 ~) n; j' q5 G! H% ubuyers are becoming more reluctant to participate in the frenetic activity.
2 D7 w& }+ [1 g
) r3 m0 A' n3 c8 k" \
    Edmonton's booming local economy continued to thrive in the third quarter8 b$ w6 X( D# i) }8 n
as activity in the oil sands north of the city continued to flourish. Edmonton
+ ]9 n8 N& Q. v" sremained the hub of activity for those coming to work in the oil industry,' ^! H0 y- S, K1 D+ o9 G; B' `) N% v
maintaining tight inventory levels across the city, resulting in prices- t# u# h+ ?0 {5 ?* z/ B2 b- I
increasing at record levels. However, as inventory levels continued to improve
2 V# N/ g" }. l/ j" qin the third quarter the rate of price appreciation should moderate slightly( h. T! e" p6 C9 w
towards the end of 2006.
   
6 T7 S4 R" _5 e* N& D) ]# m# V1 W( n2 U
While Vancouver has seen a slight reprieve from the severe shortage of' f$ a  I' B8 Y( \# ]3 M
inventory that had previously characterized the market, supply is still unable
+ C, ?$ c9 \; c; {to meet demand, driving house prices upwards. Vancouver has a very diverse2 Q9 z4 D# y* K+ b/ C
group of active buyers - from first-time home buyers to baby-boomers to
% c+ D( K( E% g- z4 ^+ Z6 jforeign investors - all of whom fuel the demand for houses, placing added3 }! o! j# p$ X- P) {" u
pressure on tight inventory levels.0 q, c9 c8 L' X$ h
+ v. r* ?9 y- l1 K
    Victoria's market is vibrant and supported by strong economic& x) e) g- g, c
fundamentals, fuelled by a booming tech sector and a migration of young people
' A0 R9 o# \4 S) G. U( yinto the city that has continued to support the area's house price increases;+ k2 _3 L2 n. D& E$ T
while increased inventory levels have afforded buyers more time when searching
4 t; b0 z' l" G3 B2 dfor a home, helping to normalize the market's pace.
' f2 ~9 O( X8 k* z. f, J) U9 `! j! m# S8 z8 D; a
    <<. H2 U- V6 N9 P: O- A* g* M
      Survey of Canadian Average House Prices in the Third Quarter 2006" f2 j/ M! C; E
9 W, g4 P* a( C2 l, f
    -------------------------------------------------------------------------
6 J; N, U: |$ O' |; `' ]. M                 Detached Bungalows                Standard Two Storey& j4 i( F9 e  j" `$ Z0 i2 B( l2 c
    -------------------------------------------------------------------------
8 u& F0 A0 O9 e$ x                     2006 Q3     2005 Q3    Bungalow     2006 Q3     2005 Q3' R' B: _% n& x! b
    Market           Average     Average    % Change     Average     Average  k3 I) z  ]% p* z2 u; ~  Q
    -------------------------------------------------------------------------3 [4 R5 H* Z4 @& |3 x' Q4 r
    Halifax          186,333     173,333        7.5%     198,667     199,000. b! S$ F; P# k# u. g
    -------------------------------------------------------------------------9 b" W( j/ i- ?# i! t) q: i# d
    Charlottetown    145,000     141,000        2.8%     175,000     170,000
/ d& ?% i3 f  j9 v    -------------------------------------------------------------------------
6 D# d$ L) q; @& f5 x( v$ R/ W    Moncton          135,000     127,000        6.3%     129,000     123,000+ ]" J0 Q* T! v, U) W
    -------------------------------------------------------------------------/ }, y1 ~" j. j5 L# s0 q
    Saint John       141,200     142,900       -1.2%           -           -0 q  R/ B1 I7 t' @7 @6 q( i5 ]
    -------------------------------------------------------------------------
5 I3 f8 H) d: g. p$ r9 _' U    St. John's       143,667     142,667        0.7%     200,667     202,3336 H! [1 }" x% f/ R5 n4 i
    -------------------------------------------------------------------------
" F, \# N1 @& F. d- g- g1 e    Atlantic         150,240     145,380        3.3%     175,833     173,583
; L1 W1 A3 n9 e+ @$ C    -------------------------------------------------------------------------3 ^) }# n. E( A' g# K# b4 i
    Montreal         213,691     203,500        5.0%     321,141     316,1851 M# f6 a! R3 N
    -------------------------------------------------------------------------0 `+ F6 V: c  P0 l) D# W
    Ottawa           290,083     278,417        4.2%     285,667     273,250  h* c) `- F* \' d, b
    -------------------------------------------------------------------------
8 u- x+ _4 ]% U9 w9 z4 `8 D* s    Toronto          373,368     355,882        4.9%     481,523     474,766
5 _. ~% u+ P+ g) e& ?7 n3 D    -------------------------------------------------------------------------
" F/ M8 o3 n( Z  d8 b    Winnipeg         181,579     159,860       13.6%     202,337     180,707
9 U& P0 @* e2 U+ M. P. m6 n1 K    -------------------------------------------------------------------------( c! N; }! H  H; ]5 B' m
    Saskatchewan     170,667     156,083        9.3%     182,600     166,500
& U& s5 _% k7 F, W* u5 \) W1 A    -------------------------------------------------------------------------( T; s9 H% r, t& B) K9 @' k
    Calgary          395,067     252,411       56.5%     405,778     264,389. u* y$ u+ `8 n. N  {+ }  [
    -------------------------------------------------------------------------
+ ?  v' _# e( z  ^1 X2 J    Edmonton         286,857     194,857       47.2%     316,429     206,714
" A& N5 u. a" _    -------------------------------------------------------------------------
0 T% ?% C. R. G/ X/ b2 X6 D* m    Vancouver        704,250     601,000       17.2%     794,000     697,5008 j) }; Y) \2 H% {/ Z- I! s# @
    -------------------------------------------------------------------------+ R1 M* R0 k. F1 \* b/ g
    Victoria         375,000     348,000        7.8%     403,000     391,000$ X7 r1 ]: p  h; k) s5 {
    -------------------------------------------------------------------------
. S; W8 Z+ |; k    National         300,365     258,202       16.3%     365,380     322,860
9 O% K$ l. X# i& D/ D  K    -------------------------------------------------------------------------4 u2 X0 V1 J* |) Y

4 ?* u) W, f" Z3 d$ F    -------------------------------------------------------------
; q: i6 o% z3 z* N1 |( N' f                               Standard Condominium
( ?# d5 P/ j6 j0 {! b& ?# |5 a% P    -------------------------------------------------------------* j5 H$ H7 N) U/ W; |
                    2-Storey     2006 Q3     2005 Q3       Condo& s: Z6 t7 P0 Z
    Market          % Change     Average     Average    % Change5 K. _; s( F) p9 c) ]3 T
    -------------------------------------------------------------4 d8 d! x2 T7 Z- J6 ]) ~7 _
    Halifax            -0.2%     142,000     103,000       37.9%0 D5 W0 K" K1 Y6 q7 n  x
    -------------------------------------------------------------
. Z; S, u& f' B    Charlottetown       2.9%      98,000      98,000        0.0%
% C' F# A2 k. _( b3 t    -------------------------------------------------------------
, B9 m. o0 X4 B- Z  R: D1 p( G( C3 j6 i    Moncton             4.9%           -           -         N/A
2 G$ @( C0 C/ D* ^    -------------------------------------------------------------. [  Q3 T( s3 q; Q* G1 q
    Saint John           N/A           -           -         N/A
& [! s3 J& E6 i) T% }$ Z    -------------------------------------------------------------8 \  B1 B/ T* d3 x: g& c
    St. John's         -0.8%     146,333     145,667        0.5%& B8 U/ Q0 B$ k. c4 j8 h
    -------------------------------------------------------------& L. b& }6 Q. T# F$ U
    Atlantic            1.3%     128,778     115,556       11.4%7 w9 n/ u/ y7 {, H9 K
    -------------------------------------------------------------" |' V% N1 L; K$ H
    Montreal            1.6%     193,190     188,016        2.8%3 i& z& d; S3 g3 i, \. x: q* i
    -------------------------------------------------------------+ ]5 E3 ^0 I* x
    Ottawa              4.5%     181,083     172,250        5.1%& [* Y. i9 u; y' `* ~7 f9 ~
    -------------------------------------------------------------3 j5 f& k4 c! ^% _' j% y
    Toronto             1.4%     252,088     242,918        3.8%
1 M$ v2 W+ l5 d1 R8 q0 y6 i1 q$ n    -------------------------------------------------------------
; e, p2 q6 P4 X" L$ F    Winnipeg           12.0%     105,648      96,008       10.0%) C- y0 t3 ?. T2 V) w4 n: i2 d
    -------------------------------------------------------------
, @5 N. U7 ]) {" Q* u, m    Saskatchewan        9.7%     106,250     101,000        5.2%3 G5 s% K8 t: ]9 ^: ~1 |  T- A
    -------------------------------------------------------------
6 k6 G5 W9 V6 m5 N! o. ]    Calgary            53.5%     245,844     153,867       59.8%) n# j: m9 K, B/ @
    -------------------------------------------------------------" I& u+ W' @. O* l0 V8 a) _$ ^
    Edmonton           53.1%     200,433     131,500       52.4%- v+ J6 A8 @4 J! M, w% m
    -------------------------------------------------------------  Z+ Q$ J, u# V* r; R7 F+ `
    Vancouver          13.8%     366,250     323,250       13.3%
, Z, W4 H$ y+ S% E2 u, G) |% R    -------------------------------------------------------------
8 q$ _' U( ^' u    Victoria            3.1%     229,000     220,000        4.1%
$ @, P, a% x7 h4 G' [6 x. L    -------------------------------------------------------------, m  k8 V1 |0 N! h/ G7 M' ?( p
    National           13.2%     211,562     185,296       14.2%
6 `3 p+ s; ^* s7 x& O! `7 t, E    -------------------------------------------------------------% W! w0 p, X& y- A+ K0 q
    >>; h0 t4 x5 C5 n

* j! N: l/ C2 l  e1 ]0 \: C2 z$ f    Average house prices are based on an average of all sub-markets examined
! e9 P; R" s* s9 @8 K6 vin the area, except for the smaller markets of Charlottetown, Moncton, Saint( e8 }' U/ N3 V3 h0 e+ U
John and Victoria.
: C  d, e; K1 t/ |: f# Y& p% M# O: N$ N( _" M  A8 ?
    The Royal LePage Survey of Canadian House Prices is the largest, most
4 B  E& I8 c, w( d% Ucomprehensive study of its kind in Canada, with information on seven types of; a( P! |7 u" u# n  e
housing in over 250 neighbourhoods from coast to coast. This release
9 [  ~. X+ X/ @/ o/ w0 ~8 ?/ ?! F" Yreferences an abbreviated version of the survey, which highlights house price  X4 c" H3 @" p8 {
trends for the three most common types of housing in Canada in 80 communities& F' R0 P( }6 m' {6 P
across the country. A complete database of past and present surveys is
0 ~) O' Y# m) D7 B; K0 Vavailable on the Royal LePage Web site at www.royallepage.ca, and current; O% {" ?: X8 D6 A2 l
figures will be updated following the end of the third quarter. A printable) M4 D; F; a  a) d( J9 g9 K
version of the third quarter 2006 survey will be available online on4 _- {% S8 o6 U% {' j; s  ~  |3 c* o; T
November 15, 2006.
. F# ~# w" e" V. g) H    Housing values in the Royal LePage Survey are Royal LePage opinions of
# Y% q+ a; Y4 R2 U2 q3 y# [4 wfair market value in each location, based on local data and market knowledge3 A. W6 j( |' @9 f
provided by Royal LePage residential real estate experts. Historical data is
! v0 i3 B  ?# n' A- `% P5 a5 X- |available for some areas back to the early 1970s.
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