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Survey of Canadian Average House Prices in the Third Quarter 2006

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发表于 2006-9-29 08:09 | 显示全部楼层 |阅读模式
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Canada's housing market both vigorous and stable 0 H& K2 T- C- n# J: b/ P

5 ~& d$ ~5 Q' m& H! _0 a- Country's market poised to show growth throughout 2006 -
' Z4 _* G- i; M; {$ d$ c
- P; }% v8 f7 S( o% s    TORONTO, Sept. 28 /CNW/ - For most of Canada, the housing market
: ~& b+ S8 i' S- H& j; E- b. {" qexhibited moderate price increases and stable unit sales during the third
/ L: ?0 [: E2 f5 F! M9 u1 Iquarter. Wide regional variances continued to be the dominant characteristic( L& n5 D3 M  W
in the market, exemplified by frenzied levels of activity and double digit
4 @3 p! R. O, G0 r+ \1 @' S2 I" lprice gains observed in the energy and commodity rich Western provinces, and
' {5 V, E2 i0 p  `* |) J+ l' Amore reasonable sales volumes and moderate price appreciation in Ontario,
+ K# N& R) n2 E1 t. XQuebec and Atlantic Canada, according to a report released today by Royal3 T  j7 X' x, a! n& f, x4 @
LePage Real Estate Services.' x  Z" m. [0 f& v- B7 |" t
0 {- r( e: ~: t7 p0 z0 Q
    Nationally, market trends established through the first three quarters
% ^0 ]! w+ U  w. [; ^are forecast to continue for the remainder of the year. Robust economic
8 \* K% R0 x% W+ h% ]+ t7 r3 Sconditions, low unemployment rates, modestly growing salaries and wages, and
; f5 N! C& |9 A1 A# csound consumer confidence contributed to the overall strength of the
' S. \* x/ P! Presidential real estate sector.
" s3 G) ^" Y% u8 s6 w8 ?2 g% M8 N5 F, d9 [$ L" I
    Of the housing types surveyed, the highest average price appreciation
/ l& G# k7 A/ c1 f4 Q) T+ poccurred in detached bungalows, which rose to $300,365 (+16.3%)' T2 A* J# A; N( |2 E, r6 k6 ?( A- i+ N
year-over-year, followed by standard condominiums, which rose to $211,562
9 {- o3 J( Z' M(+14.2%), and standard two-storey properties, which increased to $365,380
' b3 X1 ]; {/ ?- u' z(+13.2%).
/ p" w% ~) ]9 [! M
' }" d9 m' p  U# g4 H* ~2 m! O    "Canada's sturdy housing market continued to demonstrate steady growth
+ |, d( p  }, k3 U9 n& kduring the third quarter. For all but the west, we have moved on from the9 T+ L! x4 F+ A
frenzied expansion that characterized the first half of this decade, and are
5 J6 R6 E" A# zpoised to show continued growth at a more moderate pace," said Phil Soper,
2 @- J$ |; X; M& S" v! x% lpresident and chief executive officer, Royal LePage Real Estate Services.# i; d+ t0 y4 ?/ f
"Gone is the sellers' market that we have lived with for some years. We+ y, R; D5 M) G& D
welcome the more reliable conditions that are characteristic of a healthy
; H  x# `. g6 y" ^+ v' \0 i/ _balanced market."
' R1 O/ k! p' ^2 N; q0 A5 ^9 ?* V: r2 J- m1 J( b! \
    Despite the double-digit rise in average national house prices,
$ t0 Q( }& I6 w- E) }. J  B  Vconsiderable regional variances were exhibited again this quarter. The shift
* `2 f# w/ k  E3 ]to balanced market conditions, which began in late 2005, has continued/ P7 Q" a( T) N$ Q( F3 W2 P
throughout most of the Central and Eastern regions of the country. In the core
' p% E, ^7 h+ V4 y4 x3 Eenergy producing western provinces, the combination of very high in-migration,
8 ?+ f  ]  r( U4 G6 Vmanageable affordability, and a shortage of inventory has driven record
% k' C* _4 A8 V' b6 n! y* y5 Gbreaking price appreciations.0 _2 ?, o. T) i) |( ?
% i  H4 j1 n0 S+ [1 [1 X( `
    Echoing the second quarter and supported by Alberta's rapidly expanding
' D" b3 q! T6 D7 a( M) c; l; T( I0 Oeconomy, Calgary and Edmonton led the charge of Canadian cities with the
1 G* q( u6 Q/ R6 s5 d( ^largest house price appreciation in all housing types surveyed.* ]* D7 O/ p! \
2 ~8 J, b, @$ A5 d7 S; S
    In Ottawa and Toronto, growth remained steady, supported by solid# w3 F7 }! [" ^& c% j5 o; O' Z
economic fundamentals, an increase in available inventory and strong consumer# _% D# h) q6 s6 [1 j4 a
confidence. While the pace of price appreciation in Ontario leveled off
9 A; o: X9 i7 c4 hslightly, the province's real estate market remains poised for modest growth.# y/ M2 ^, S4 |" L
In Atlantic Canada, new housing and condominium construction offered buyers+ b9 ?9 l; ~- p/ F# v( C
greater selection at more competitive prices, resulting in a slower rate of: P4 ?% p/ }# Y; N2 B$ p; i
price appreciation when compared with 2005.
8 r0 S- i1 w( P2 E6 x0 u1 k: A6 E, o1 v3 S4 D  m0 G  K; L7 o
    While the pace of growth in Canada has slowed, the domestic housing/ I7 e! P5 j% V8 {/ r
market is expected to outperform the American market. The economic and
0 k$ s/ g; w1 w1 Sfinancial fundamentals driving the residential real estate sector in Canada
: i8 _9 Q3 |3 s9 @1 care markedly different than those found in the United States.
2 h5 h+ B- o0 ]9 h: g1 i0 c  w
" H" W' V" _0 v: c. Z0 C2 x* {7 U    Added Soper: "Canada's housing market is likely to outperform the
7 W) p% a1 S! Q1 ?+ p- U) JAmerican market through 2007. A number of factors are working in Canada's
" M2 g4 C) W8 {& I! p' Sfavour, including healthy personal and governmental debt levels, the
* s, X1 ]. v& m- L# z4 _9 y/ d) ^6 u3 rrelatively modest rise in interest rates in our country, and general5 Q7 b! I# Y; t+ }
affordability in our major cities. In addition, Americans are now seeing the
; P" C5 e2 h" _1 {# ^( ?) jdownside of a tax system that encourages maximum homeowner leverage, and
% i8 Y) W  u. X8 M% x9 l( Paggressive financial products such as zero- and negative-amortization% M$ s- c/ p' y
mortgages that work only in a high price growth environment."4 l: S6 n( V" a

; {* w5 s3 K9 F- ^( M    <<. B/ [$ Z; |# G1 s7 W' T1 b
                             REGIONAL SUMMARIES
2 M# i& j5 ]8 q8 O0 C    >>
" ]- P& i8 f  U$ I5 N# a8 }; |  \  B6 g: c. V5 ^
    Balanced conditions continued to characterize the housing market in
, Q& d0 N& o1 x% P- Q. t0 }( HHalifax, as significantly higher inventory levels helped to moderate the rate
! e* J% H# I- _9 J$ k) ]2 O: Fof price appreciation. Buyers were increasingly choosy, taking more time
- X- i4 X$ E  {+ V6 X5 Olooking for newer, low-maintenance properties that were not in need of
* N% ?- ]/ p; ]8 Q, Drenovations.' E7 q& R6 j- s6 T

9 {7 k& ?% L# D* ?9 m4 }    The housing market in Moncton remained healthy and strong as a slight" `7 @& b* |) k; P% q% ?
increase in inventory helped to moderate the rate of price appreciation
$ p- d" a6 {% d  x2 Dcompared to the same period in 2005. Activity was brisk throughout August and
- n+ ]0 I0 g  L  ^: hSeptember and is expected to remain this way through the fourth quarter.4 [  }( A- J& f' K5 @3 @! M
/ D4 n( A! t% A
    The housing market in Saint John underwent its traditional summer4 w8 v/ H$ m- \+ T3 V; q
slowdown in the third quarter, with activity picking up towards the end of the
7 S) L! w+ d$ t/ B. H( v. N2 c% Wquarter. The local economy continued to thrive, as construction on a new# i) x2 O- A' N3 ]* W* y5 r" ]: @
600,000 square-foot shopping area has begun, bringing several new box stores2 c) b" D$ }2 l! e" w, s/ @
to the area. Buyers have begun seeking less expensive fixtures for their homes
4 ?! G* s: L. p; @" s+ V& k# kand are instead opting for more affordable housing options.3 s" g6 I% ^9 i
) s2 s! R, \! {- d9 g
    In Charlottetown, the housing market started to move towards balanced8 t$ s+ ^) E) c
conditions, as some sellers had to begin to lower the asking prices on their5 e5 D( ~  ]" A5 G
homes to make them more competitive. Activity from out-of-town and US buyers2 |% ?9 @3 j& @
was down slightly compared to 2005, likely attributable to the strong Canadian$ d+ V7 {/ F3 O) g& y
dollar. Inventory levels began to creep up in the third quarter, providing
! G$ l( v  n' \buyers with more options when looking for a home.0 U8 m' H1 C" S# T

' I; R* C  i1 n3 }8 d    Activity in St. John's slowed slightly in the third quarter, particularly) f" ]0 B. k+ C3 M" i  F% }% l
among higher-priced properties, where there was a slight over-supply of homes
+ B0 ]7 K- \, E8 wpriced over $200,000. Listing periods have increased when compared with 2005,( v( }, v/ f8 U3 i5 ]2 R  u8 i" l
as some of the pent-up demand that had characterized the market over the last, z( E0 N6 |% w) I; |
few years has been satisfied, resulting in more normal, balanced conditions.; W7 ~5 ~0 X9 s; v3 V

, l; b2 J# q+ D9 a/ f    Montreal's housing market recorded modest increases in average house+ P* ~2 G! Y, Q/ o  i1 s+ {
prices, due to a slight seasonal slowdown in the third quarter as inventory
- `: i' T6 W$ D' N1 g+ [/ I1 Tlevels rose. Part of this can be attributed to the fact that many renting8 |* c3 y  L/ c) t2 v, G
first-time buyers were motivated to close on the purchase of a home by July 1,
3 P& L# y. }& ~7 l7 wwhen rental leases expire in Quebec. Once this date has passed some of the
% X% \6 m2 M) s3 ~' tpressure is taken off the market, allowing buyers to visit more homes before3 b' i- a1 h  S9 c
making a purchase.+ U5 ?$ v5 E& }2 o5 s

) K0 c; ]3 L8 G; H  b    Ottawa held its position as one of the country's most stable housing
! N6 U0 p7 ?) C$ I5 vmarkets in the third quarter, reinforced by a vibrant local economy and strong& M( v) _1 ~+ |* L# [; F
confidence, resulting in modest increases in average house prices. The city: m4 c5 G! R# a2 S3 e
centre remained a bright spot in Ottawa, with homes in this area attracting5 D( \; D) W  \+ d) r
attention due to their convenient location and proximity to downtown$ m* b0 n& A& h
amenities.) B1 g. ]4 k" |2 R

; \% R6 e/ M$ J0 D    The housing market in Toronto sustained healthy activity levels9 n/ h+ ?: i  B( E' f4 m' t4 k$ J
throughout the third quarter, as a strong economy helped to maintain demand
8 a$ E+ c; S0 @) `' F3 l0 W# D* uacross the city, causing average house prices to rise moderately. Toronto has
( L- _$ x0 w9 w! w7 S6 gcontinued to experience modest growth in average house prices, and has been
* ~; B( A! f3 O* b* Hdriven primarily by purchasers who are buying homes as their principle4 t: B/ K. y7 K# n! C# g
residence, rather than for investment.
* ?  S0 h8 F7 U4 J
& ]  o8 _! k/ F7 L% H8 e    The vibrant Winnipeg housing market continued to show its strength as
: Y0 m) i) P: ~4 vhouse prices rose during the third quarter. The booming local economy resulted
8 Y3 x( T9 I4 e: xin a historically low unemployment rate, helping to bolster consumer2 A2 j4 \0 M& s& X, J
confidence and Winnipeg's ranking as the city with the lowest capitalization8 Q" x" G( \& z7 \" M
rate among the country's larger cities - helped to encourage buyers to enter
& Z5 @; d$ t3 C% ~! ^3 i0 z* ^the market.
1 c6 C3 E0 l; F. T8 {1 v! H( _3 ~1 a; Z
1 y* U' c# J9 _( o, w4 M    In Regina, the market experienced a slight seasonal slowdown through6 w) P& d* C  H9 {4 q6 z
July, as there were fewer purchasers in the market due to summer vacations. In& R2 i1 ]. y" w8 w; C' x
August, activity resumed to the busy pace previously seen in the spring4 @4 c- h# N- N' I+ A# Q
months, as the influx of purchasers made it more difficult to find a home due
7 f; l5 u7 ?3 }7 J# N* _6 }to the shortage of available inventory.. H- y& x( s0 h# N  Z
% a; k4 M5 c# N6 a9 F' C
    Activity in Saskatoon remained brisk as the market maintained its+ p4 A8 p) h/ ^3 D1 l
momentum from the busy spring sales period. The economy in Saskatoon remains! W! K+ c& i6 p6 k4 p3 B: c0 u
vibrant, as employment opportunities are abundant with many businesses
% h% C! A) Z' V# Z8 wstruggling to make hires and having to recruit outside the province.
: e3 o! l6 p) `3 [! w$ }5 \2 ~2 M& \
    Calgary's housing market recorded blazing average house price increases
, r" t# u# k0 ?' k6 U' Uin the third quarter, in all surveyed categories. The burgeoning economy, low
( |* z, Z7 l( R  M0 w0 ~" sunemployment rates and low inventory levels remained the leading factors that% A1 n5 A8 H# U1 g5 d, ]1 H
pressured Calgary's house prices upwards. However, regardless of the soaring$ J) u' Z( E$ Z4 U$ R6 d& v" w
prices that characterized the market - even during the typically slower summer
% N8 h. C) F, `5 n1 o5 fseason - it is expected that activity will become slightly more balanced, as# y- @' U$ @! X; m
buyers are becoming more reluctant to participate in the frenetic activity.

3 K9 R% c/ O0 W* ?0 ^, H9 x& O% I# s- V+ D1 o. \+ Y
    Edmonton's booming local economy continued to thrive in the third quarter& b& W; o0 x* e( s" F4 n6 U3 v
as activity in the oil sands north of the city continued to flourish. Edmonton% ~* Z; L% q) ]: `8 U/ Z6 A! J
remained the hub of activity for those coming to work in the oil industry,
. W9 v8 f2 K  y7 i0 \9 Q& ]1 Gmaintaining tight inventory levels across the city, resulting in prices: c5 M" a9 ]/ X
increasing at record levels. However, as inventory levels continued to improve# \* x& G; ^9 P8 ?+ J. L
in the third quarter the rate of price appreciation should moderate slightly
! t8 Q# V, D. U% _2 {towards the end of 2006.
   
2 E5 A+ ?- n9 {' U8 g+ M  T6 M7 F2 j) `- O/ ]( [7 M
While Vancouver has seen a slight reprieve from the severe shortage of
  a+ e4 D# j" c! D6 l1 finventory that had previously characterized the market, supply is still unable: ^) Y3 E" x9 \0 D3 z, a7 a0 ]
to meet demand, driving house prices upwards. Vancouver has a very diverse8 F- c) }" R% m" Y1 G0 T; ]1 u
group of active buyers - from first-time home buyers to baby-boomers to: |, r! |  K+ [! p: \: Z
foreign investors - all of whom fuel the demand for houses, placing added
( K, h0 r# @/ V0 @1 \) [% I6 @pressure on tight inventory levels." C4 P* z2 \6 E
. u  I) n. B- q+ v( z
    Victoria's market is vibrant and supported by strong economic
" J6 u* ~8 U- G3 d9 C7 c+ s' I  ?5 i& kfundamentals, fuelled by a booming tech sector and a migration of young people: A# [) X* l. G9 M# Z
into the city that has continued to support the area's house price increases;
) q6 H6 u+ r/ E* M/ y4 O1 i  @while increased inventory levels have afforded buyers more time when searching- Y; O  E" Z! w/ F
for a home, helping to normalize the market's pace.) ?" M8 T. U! v2 N: q& b. C8 l7 _0 j8 a: [
! L7 }% Y/ D8 l0 p0 n
    <<
# ^6 j1 x. s6 J  X) P. J' R      Survey of Canadian Average House Prices in the Third Quarter 2006
) Q  I0 N; h, D; q0 G: l
% Y; Y5 j7 }6 O; J    -------------------------------------------------------------------------" ~4 [- g3 Y1 e; d& A
                 Detached Bungalows                Standard Two Storey  }7 d7 `4 X6 H, e0 `
    -------------------------------------------------------------------------
& N1 ?" H1 o! k: K$ W9 ?2 L8 w                     2006 Q3     2005 Q3    Bungalow     2006 Q3     2005 Q3
4 R% J" w. P; W& ?+ ]$ H3 w8 Y    Market           Average     Average    % Change     Average     Average8 j3 |8 I5 e) b% o0 v
    -------------------------------------------------------------------------) b6 M' @0 q8 X: j& ~6 G
    Halifax          186,333     173,333        7.5%     198,667     199,000  A) `. o) x2 U; Y# y: j) o1 S; g
    -------------------------------------------------------------------------% L; t+ j, T$ q/ x2 c
    Charlottetown    145,000     141,000        2.8%     175,000     170,000
# K; B) k( [9 w7 w    -------------------------------------------------------------------------
* @' u: J8 w# ]. J    Moncton          135,000     127,000        6.3%     129,000     123,000  v  g6 v1 C( s7 r6 s: Z
    -------------------------------------------------------------------------* \+ x+ \7 \! G  p9 C
    Saint John       141,200     142,900       -1.2%           -           -  U  ?# Y9 K, v- c  @4 u% f1 K. W0 u
    -------------------------------------------------------------------------
  B' e& E! P* _: e; O3 Y3 `    St. John's       143,667     142,667        0.7%     200,667     202,333: G8 H  E" {7 |' W3 o  a
    -------------------------------------------------------------------------( n5 J( B6 l9 O/ I1 z
    Atlantic         150,240     145,380        3.3%     175,833     173,5830 Q3 ?. {. m& V; A
    -------------------------------------------------------------------------
. ~0 D% ]- x  }& {0 R% G, J$ z0 ^    Montreal         213,691     203,500        5.0%     321,141     316,185% C. ^4 @/ {/ B: a+ b
    -------------------------------------------------------------------------0 N) A6 t4 ]: s
    Ottawa           290,083     278,417        4.2%     285,667     273,250
$ \4 K. ?, B) G" e) W    -------------------------------------------------------------------------1 @5 R7 ^7 }- ~7 O' o% |
    Toronto          373,368     355,882        4.9%     481,523     474,766
( Y! l8 F/ B: Y' a    -------------------------------------------------------------------------$ h' q( V6 V* ^: A
    Winnipeg         181,579     159,860       13.6%     202,337     180,7072 A  _9 {; b* ]% K3 r
    -------------------------------------------------------------------------
3 k8 _) v4 Y& z; `8 S3 }/ d/ h. h    Saskatchewan     170,667     156,083        9.3%     182,600     166,500" ?2 E# N4 r' ?
    -------------------------------------------------------------------------! |7 {/ |" S) [# |$ m: J
    Calgary          395,067     252,411       56.5%     405,778     264,3897 h- t( |8 V  b+ i* {& m- {
    -------------------------------------------------------------------------% M0 P% R9 X( ~& m4 v  A
    Edmonton         286,857     194,857       47.2%     316,429     206,714
) r/ Z1 f5 i$ d0 Y5 v- t1 o    -------------------------------------------------------------------------8 C0 m7 @) D9 b" ]
    Vancouver        704,250     601,000       17.2%     794,000     697,5004 \. W" R' f, ]3 r4 v+ r
    -------------------------------------------------------------------------
8 {+ t" o8 I/ H+ G5 N9 g    Victoria         375,000     348,000        7.8%     403,000     391,000$ w! e" m# G4 ?5 ^6 A( c
    -------------------------------------------------------------------------  u1 T. h% g4 i
    National         300,365     258,202       16.3%     365,380     322,8606 C; T  _. e( C" j  q% Y6 _
    -------------------------------------------------------------------------6 x5 Q  a3 A$ N. H( M6 T9 s8 x9 I

. s; T" H  W  L" t. q" s    -------------------------------------------------------------
' B/ T& L, ^) F) q                               Standard Condominium( X% T7 K  n$ Y8 u! y) L0 M& k
    -------------------------------------------------------------
% l0 k' W7 A: A( ?, C, [# X                    2-Storey     2006 Q3     2005 Q3       Condo/ Y$ k$ a( N& N5 z( H5 \2 L/ V
    Market          % Change     Average     Average    % Change
5 ]! `5 E+ A1 l) z    -------------------------------------------------------------/ e- t, J5 q$ C! s
    Halifax            -0.2%     142,000     103,000       37.9%
* t; {8 u; X- g5 y! g7 ?0 f* P    -------------------------------------------------------------
$ @$ o/ J) }! L- P/ {& e    Charlottetown       2.9%      98,000      98,000        0.0%' D3 U( }: f; h
    -------------------------------------------------------------
  W' B4 ~/ n4 K3 l    Moncton             4.9%           -           -         N/A
- y- K% Q' [/ a: o+ t1 H! X    -------------------------------------------------------------- C6 b* W! _# Q" z0 h$ S3 U- P
    Saint John           N/A           -           -         N/A: u5 G0 _: p* r. ^% Z# M
    -------------------------------------------------------------$ u2 z- }& B. ]2 z6 r
    St. John's         -0.8%     146,333     145,667        0.5%+ e5 o: o1 p# ~. x0 O
    -------------------------------------------------------------; |. Z4 }$ y+ F! N+ v
    Atlantic            1.3%     128,778     115,556       11.4%
' s. N0 K0 I# }' \    -------------------------------------------------------------
9 k4 y" W" j" s, V2 N5 w    Montreal            1.6%     193,190     188,016        2.8%
) d9 H8 ^. L3 S& e0 z1 h    -------------------------------------------------------------3 `* I" F4 n! s
    Ottawa              4.5%     181,083     172,250        5.1%: K6 a. R$ y% p
    -------------------------------------------------------------0 _9 l$ I5 r9 I& {  c  P  q
    Toronto             1.4%     252,088     242,918        3.8%" [6 |3 [2 i* T8 b$ F, P
    -------------------------------------------------------------( E' ~9 M% Z4 J! T9 u" r+ u+ l
    Winnipeg           12.0%     105,648      96,008       10.0%
' h3 S  N1 j' b9 a( z+ m% ^    -------------------------------------------------------------6 c. a3 u0 e5 w* O% x
    Saskatchewan        9.7%     106,250     101,000        5.2%
2 ]8 I; s* H1 @  p) p    -------------------------------------------------------------
& l8 Y& e+ L  W$ K: ]/ _( }. N    Calgary            53.5%     245,844     153,867       59.8%! T% N; E9 ]7 E4 q
    -------------------------------------------------------------! H* `1 R2 H, {9 s5 S
    Edmonton           53.1%     200,433     131,500       52.4%
; [' ~1 U. G, T+ h& c: E% }, V    -------------------------------------------------------------: I. s) F+ M; J: z8 d: E
    Vancouver          13.8%     366,250     323,250       13.3%9 i  S+ l" X# q& E) o( C
    -------------------------------------------------------------& p; r" g: B4 Q5 L; E9 G% b- @1 O6 c
    Victoria            3.1%     229,000     220,000        4.1%
- r/ l. j% V7 Q" ?" d    -------------------------------------------------------------
& N" W0 t1 {' Z    National           13.2%     211,562     185,296       14.2%4 J' }: s1 f' z
    -------------------------------------------------------------5 I4 p9 c! h  o( X
    >>! y: g6 Y1 M2 V' D2 b, g

, j7 n. c2 _' y% J    Average house prices are based on an average of all sub-markets examined' f# n4 ^- [$ q* |" Z. a1 V) G
in the area, except for the smaller markets of Charlottetown, Moncton, Saint1 I5 F  Z; ~, N1 T$ d% O7 w/ P
John and Victoria.: U" C! {$ P4 Q8 I, S' d3 N
, x  o7 ]  D6 ^
    The Royal LePage Survey of Canadian House Prices is the largest, most
* Z& q2 }) n/ `( `! e+ g9 ?comprehensive study of its kind in Canada, with information on seven types of% P4 ?& S; j6 c1 q0 r: L4 l
housing in over 250 neighbourhoods from coast to coast. This release* ^2 P3 V: Q: m: g5 @5 I5 x/ G
references an abbreviated version of the survey, which highlights house price! r. u: f6 w4 W" d2 A& l: X" z
trends for the three most common types of housing in Canada in 80 communities3 G" G/ f# c9 G4 K% V2 r6 s
across the country. A complete database of past and present surveys is
2 D4 Y" ~  y; O9 b9 X- p/ {available on the Royal LePage Web site at www.royallepage.ca, and current
" Y* q% g% p( Z% Rfigures will be updated following the end of the third quarter. A printable% k9 U7 U  C+ n" X$ u# {1 s3 P
version of the third quarter 2006 survey will be available online on
. q2 r1 g6 Z+ M- C' e# Q9 hNovember 15, 2006.
4 v) N' ?+ q4 C/ R. d/ O    Housing values in the Royal LePage Survey are Royal LePage opinions of
4 K  m  C) M2 c- T$ A7 Ofair market value in each location, based on local data and market knowledge
( j- V7 }4 O, J# l8 N* A! t4 B5 oprovided by Royal LePage residential real estate experts. Historical data is
  J0 A- j/ \: S4 Vavailable for some areas back to the early 1970s.
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