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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 ) B+ v$ P$ F% E

6 _4 b7 l4 y+ l* y- Country's market poised to show growth throughout 2006 -; l& k, k3 A1 S: t6 ?

0 O5 L) I8 c+ a    TORONTO, Sept. 28 /CNW/ - For most of Canada, the housing market
. U2 U8 L+ M6 i: P/ g0 J& M+ qexhibited moderate price increases and stable unit sales during the third
: c8 @) @4 e0 T& h* y8 Yquarter. Wide regional variances continued to be the dominant characteristic
6 |  @( A$ u/ \  r2 W5 F3 g7 |in the market, exemplified by frenzied levels of activity and double digit
& F. s+ E4 t! {7 e" `price gains observed in the energy and commodity rich Western provinces, and9 m: d& I: g% q, _
more reasonable sales volumes and moderate price appreciation in Ontario,
! i6 B$ ~8 w1 U4 R+ g6 SQuebec and Atlantic Canada, according to a report released today by Royal9 z+ d' z1 H- r1 k- U; d3 F
LePage Real Estate Services.: U  g$ N2 m  X% g' x' U

  \% E6 L5 L' X0 y; a    Nationally, market trends established through the first three quarters
* N3 g0 m6 I8 O! [" J5 n+ n. Sare forecast to continue for the remainder of the year. Robust economic& L" Q' M+ G& ~* s! m
conditions, low unemployment rates, modestly growing salaries and wages, and
/ i2 B5 {' O  Xsound consumer confidence contributed to the overall strength of the
! O6 E7 N1 i6 ]& k, S4 Cresidential real estate sector.4 }+ D) `' w' `- j# x9 d# A
  ?& W3 X1 x6 g! ~& @0 t  R# F: ?
    Of the housing types surveyed, the highest average price appreciation, M$ S8 F) f  x" |, U
occurred in detached bungalows, which rose to $300,365 (+16.3%)  d" f, W, [4 N# \; C2 `
year-over-year, followed by standard condominiums, which rose to $211,562# }' O/ S$ Q8 A+ D$ u* y) ?8 I
(+14.2%), and standard two-storey properties, which increased to $365,380. H+ S; x0 J3 @- M1 P  O
(+13.2%).) g$ p4 y' y4 S6 E4 V! Z

1 d( w% H" I5 e: U, D# `    "Canada's sturdy housing market continued to demonstrate steady growth; a% M" E3 i& j9 F. A
during the third quarter. For all but the west, we have moved on from the1 ~. d4 K! ~5 n, I, h, O" U% T
frenzied expansion that characterized the first half of this decade, and are5 B4 n. x# z/ A
poised to show continued growth at a more moderate pace," said Phil Soper,
8 \. s, V$ P8 B( n! ~! R+ |president and chief executive officer, Royal LePage Real Estate Services.
- e4 k: V( t0 p! q& [5 C; o/ b/ v"Gone is the sellers' market that we have lived with for some years. We
" T1 j2 u* y" Dwelcome the more reliable conditions that are characteristic of a healthy
9 K+ W% Y! L9 j: C2 R. {balanced market."
5 \' }: |4 c: ^& Y/ y
" G: r) i! U' y! u- |1 i. p    Despite the double-digit rise in average national house prices,! L; ?1 Q  \! D+ {
considerable regional variances were exhibited again this quarter. The shift
. d7 I& R& d8 Mto balanced market conditions, which began in late 2005, has continued" w- M+ I$ ]/ [% s/ _
throughout most of the Central and Eastern regions of the country. In the core; s* Q3 y# I% Y, b9 d0 t
energy producing western provinces, the combination of very high in-migration,* e, N+ C& v- ~2 K
manageable affordability, and a shortage of inventory has driven record  V* n1 f  {6 M; o
breaking price appreciations.
# b+ f( m3 Q3 p* n1 _/ b7 g  y
, e& l. s. P3 H1 K$ J% h: v2 G    Echoing the second quarter and supported by Alberta's rapidly expanding; J* D6 Q! e4 A  x; L# V! Z5 a9 m
economy, Calgary and Edmonton led the charge of Canadian cities with the
6 l/ W. W- E) q' r' mlargest house price appreciation in all housing types surveyed.
1 Z* {3 {4 t& C2 N( L$ D  _* q) B8 B) T; V
    In Ottawa and Toronto, growth remained steady, supported by solid
& F; n5 g0 k1 {9 y5 O8 Q% yeconomic fundamentals, an increase in available inventory and strong consumer
- r* N$ }2 Z7 s* L( w. Fconfidence. While the pace of price appreciation in Ontario leveled off) v$ y$ D9 ^" P; @4 c  i4 x, d0 G
slightly, the province's real estate market remains poised for modest growth.
  s; x1 A/ O) XIn Atlantic Canada, new housing and condominium construction offered buyers
2 n' o4 X2 B8 Z! D" K9 L9 agreater selection at more competitive prices, resulting in a slower rate of+ R7 C9 B  |) h& C
price appreciation when compared with 2005.* f9 I3 ^% o3 S. J6 \7 d( j+ D1 w: W
* q  l8 O" o& K
    While the pace of growth in Canada has slowed, the domestic housing
; Y0 D/ Q+ H6 G: {7 S  v, Mmarket is expected to outperform the American market. The economic and
( @( k" ^2 C( [' ~! A* U5 R& A0 e$ \financial fundamentals driving the residential real estate sector in Canada6 u4 _- I( R8 c) F! P$ c
are markedly different than those found in the United States.3 `2 S5 J+ B5 u% {* t) ]4 e! t: ?

/ y' [* y9 H* B9 t1 w$ h    Added Soper: "Canada's housing market is likely to outperform the
$ u* j; r+ f  t6 T: M1 CAmerican market through 2007. A number of factors are working in Canada's
/ o) Z0 V! p1 ]3 mfavour, including healthy personal and governmental debt levels, the/ Y: ~' }: v7 t: R
relatively modest rise in interest rates in our country, and general( E6 R: b( C; C' l$ Z' P7 L
affordability in our major cities. In addition, Americans are now seeing the. _' @& Y, ~* n9 M% B9 `- T: {
downside of a tax system that encourages maximum homeowner leverage, and
4 G& p% k( S2 |$ _& F* _/ }aggressive financial products such as zero- and negative-amortization$ {& L; d' s/ |) `6 D
mortgages that work only in a high price growth environment."7 H- q. x5 P; H! c; f. b5 j- @. Y
5 y4 N$ \: M! e
    <<: ^) I  P( a" E9 h* u1 n. q
                             REGIONAL SUMMARIES
1 B! _* O5 a5 G    >>: ?, W2 ^- M$ m# W* H' P
) v* @# ]% t+ b4 i8 }% U/ t
    Balanced conditions continued to characterize the housing market in
+ m: V$ ]& K, M& D* WHalifax, as significantly higher inventory levels helped to moderate the rate
1 W+ u3 L8 B' Jof price appreciation. Buyers were increasingly choosy, taking more time; F; p) Q# V. h! K5 k1 ~+ Q
looking for newer, low-maintenance properties that were not in need of5 a: \0 {: s5 i( h' z. e1 Z! N# l
renovations.
0 x+ K' s$ b. r6 s, Y$ U+ q3 l- v6 S! y# D% r
    The housing market in Moncton remained healthy and strong as a slight) t5 S) I& d  Y  S. \/ W1 }* q
increase in inventory helped to moderate the rate of price appreciation0 i; k. T7 J7 d; M4 f- }
compared to the same period in 2005. Activity was brisk throughout August and
( z' ~( r2 ~4 \3 D' D! ^, F1 \6 ~September and is expected to remain this way through the fourth quarter.3 D$ v% Q/ k4 S6 ~4 ]: Z, {2 B; B( A

; G- v0 |1 [% t$ z; }4 r    The housing market in Saint John underwent its traditional summer
0 l9 k5 ]5 K$ m9 c( `! Uslowdown in the third quarter, with activity picking up towards the end of the
9 z5 W- i+ h( F8 Z2 lquarter. The local economy continued to thrive, as construction on a new! Q% r% l: ~5 X( J# R
600,000 square-foot shopping area has begun, bringing several new box stores
+ X# l, V% c& k" b  _to the area. Buyers have begun seeking less expensive fixtures for their homes- P# v& q! R4 ?: M6 X+ M( U
and are instead opting for more affordable housing options.
$ P: ~  Y+ U; T+ @4 ~: C
9 u& e0 ~' L# ^0 K1 }  [! ?8 p: s* s    In Charlottetown, the housing market started to move towards balanced
" a' _# W0 Q2 M7 c5 vconditions, as some sellers had to begin to lower the asking prices on their
8 v% n6 L' T  H( G" A" I5 ohomes to make them more competitive. Activity from out-of-town and US buyers
! R) e$ x( S! i: y7 Q! e2 v6 owas down slightly compared to 2005, likely attributable to the strong Canadian
8 y: A+ K+ |# s1 @dollar. Inventory levels began to creep up in the third quarter, providing8 h, M* _, O4 ^) k" r4 Q* T
buyers with more options when looking for a home.
' W& U: M2 Z  {1 q* R/ ^2 H+ w" p) W! b. x! I
    Activity in St. John's slowed slightly in the third quarter, particularly
* a: P  E/ P* o* ?among higher-priced properties, where there was a slight over-supply of homes0 S! m0 ^9 T3 Q- b( x4 _0 L, j
priced over $200,000. Listing periods have increased when compared with 2005,- S8 o/ a: @9 I) `8 y2 Q# p6 M
as some of the pent-up demand that had characterized the market over the last
4 ?( k3 i# N5 c( ]6 o) rfew years has been satisfied, resulting in more normal, balanced conditions.
5 @/ \# L4 N! L( t0 W3 o
) n! J: D$ ]: k; @. m$ o' P$ x( X    Montreal's housing market recorded modest increases in average house8 N6 \4 r5 _; _6 N* m9 Z$ s( v
prices, due to a slight seasonal slowdown in the third quarter as inventory
  A4 v/ I9 h2 A* Tlevels rose. Part of this can be attributed to the fact that many renting
6 B: U% q+ v" m' [first-time buyers were motivated to close on the purchase of a home by July 1,
/ {, w* i* _4 Pwhen rental leases expire in Quebec. Once this date has passed some of the
9 |2 ?$ |1 g. d, J% zpressure is taken off the market, allowing buyers to visit more homes before
" W3 x$ L: f- H0 ^# imaking a purchase.
7 r# @& \$ S9 f5 N
/ S! N" a" L  M# |- M2 e' T    Ottawa held its position as one of the country's most stable housing. o. o2 U% \3 }3 d2 O
markets in the third quarter, reinforced by a vibrant local economy and strong
( @. c, _+ k; s; G$ k! E  J% dconfidence, resulting in modest increases in average house prices. The city9 Q: y; \; M1 G5 M. j5 r
centre remained a bright spot in Ottawa, with homes in this area attracting
. ~( F* N6 ^4 d' s/ }9 Rattention due to their convenient location and proximity to downtown
7 K% k( n% p( j+ Wamenities.
. ?1 u/ g5 r/ @, A' D4 E$ v2 P( w: i
$ e: @4 W# y  P9 y( E    The housing market in Toronto sustained healthy activity levels! t( l$ c% s3 j% D9 V3 n
throughout the third quarter, as a strong economy helped to maintain demand
7 [( b5 q7 a7 {across the city, causing average house prices to rise moderately. Toronto has
1 B% c, _$ C2 \# P6 m! Hcontinued to experience modest growth in average house prices, and has been
, m' O& a! D% X8 K5 ^8 M! Odriven primarily by purchasers who are buying homes as their principle
% Z) Y6 l; v) q) W) presidence, rather than for investment.0 c- q9 ^! T" K) y- n) C

9 R" m5 [' u9 r    The vibrant Winnipeg housing market continued to show its strength as1 I5 N: Y  N- G/ m/ d; p
house prices rose during the third quarter. The booming local economy resulted
) A# A2 O8 Q2 @: R, Hin a historically low unemployment rate, helping to bolster consumer+ M) t: V* s* g! S
confidence and Winnipeg's ranking as the city with the lowest capitalization8 J; }* L) `/ q0 v1 b" H
rate among the country's larger cities - helped to encourage buyers to enter- q/ C7 p$ m# v/ N. F6 W
the market.
0 d0 l! c. q: _5 R% g+ ^& y' {, i5 n& {3 A& A9 \- l' }' C
    In Regina, the market experienced a slight seasonal slowdown through
: S( V7 ^' I: R5 \July, as there were fewer purchasers in the market due to summer vacations. In9 o  _: h4 ^2 u6 J$ s
August, activity resumed to the busy pace previously seen in the spring8 k  G1 [6 t" _
months, as the influx of purchasers made it more difficult to find a home due7 H' _. X; L# X+ u
to the shortage of available inventory.
6 `0 l9 v* C) U8 v0 i4 e& x! o# _) Q% f2 M' b* @6 q7 M( m4 U" r5 _9 x6 G5 k
    Activity in Saskatoon remained brisk as the market maintained its
9 [$ N3 U& E: Q; Y# y( xmomentum from the busy spring sales period. The economy in Saskatoon remains, `; f) b1 \' `8 ]9 I' ^! m# ?
vibrant, as employment opportunities are abundant with many businesses
) ~( G* K' t+ N3 `" g: S/ Wstruggling to make hires and having to recruit outside the province.% T( h& U; @: U4 ?- A; X

  M/ t; E$ u9 E5 Y# K3 {/ C5 M! z, o    Calgary's housing market recorded blazing average house price increases
) v8 G3 L% t- i/ Oin the third quarter, in all surveyed categories. The burgeoning economy, low" X* A4 |3 j: f6 ~' h
unemployment rates and low inventory levels remained the leading factors that
; r2 z  V* ^: C  b4 {. upressured Calgary's house prices upwards. However, regardless of the soaring
) C& I. M& g% O0 xprices that characterized the market - even during the typically slower summer
/ n6 d* a" |. v6 ?  Dseason - it is expected that activity will become slightly more balanced, as' H: P& Q1 s( }% C& @& b3 e
buyers are becoming more reluctant to participate in the frenetic activity.

+ z! G) w+ x5 ~2 n5 F2 T4 N
$ h# |8 n5 X" K1 ]/ T    Edmonton's booming local economy continued to thrive in the third quarter: Q8 I9 F3 S' N4 Y* r
as activity in the oil sands north of the city continued to flourish. Edmonton, m" V( h1 J( {- d/ h$ \
remained the hub of activity for those coming to work in the oil industry,
2 n- c3 E; l/ L" {& E& Q" t) ]maintaining tight inventory levels across the city, resulting in prices9 r& q' F. I* \5 J; k5 O: W1 Q
increasing at record levels. However, as inventory levels continued to improve) I7 }' H3 v4 }% A# M7 J
in the third quarter the rate of price appreciation should moderate slightly
3 c4 U" Q- U0 \& e# T1 qtowards the end of 2006.
    . \) ?, M* `7 `+ d
8 H( S. y5 X* G) W
While Vancouver has seen a slight reprieve from the severe shortage of
1 T7 g" T' Q7 l4 n4 {- Ainventory that had previously characterized the market, supply is still unable  _1 c1 d; J# K/ _: s8 F
to meet demand, driving house prices upwards. Vancouver has a very diverse. X  C! I8 {# s6 z0 q: T
group of active buyers - from first-time home buyers to baby-boomers to
3 m; @7 x1 r5 q( m6 zforeign investors - all of whom fuel the demand for houses, placing added, D1 u8 L2 F2 L* Y* C$ z! Q' N4 z
pressure on tight inventory levels.- h. f0 U- g8 M1 \+ D# }% y

7 p$ L# S; _# Z4 L! m( ^    Victoria's market is vibrant and supported by strong economic
4 T/ B% w- E7 B7 @fundamentals, fuelled by a booming tech sector and a migration of young people
$ }) R$ Y: x5 v+ A) ]' hinto the city that has continued to support the area's house price increases;
9 _* ]' a1 ^* L# @/ X6 G! {* Bwhile increased inventory levels have afforded buyers more time when searching
3 Z+ A7 U1 D" s( u4 N' H( P* z: kfor a home, helping to normalize the market's pace.
4 t6 V, k2 ?1 J; v5 I5 @" F/ G( P$ |9 h4 h! ^* ]( w; f7 u  I
    <<& F$ |  h0 t$ {5 j$ }
      Survey of Canadian Average House Prices in the Third Quarter 2006
$ @) }. [& t, h0 A$ p! y  d: j5 u( t6 E
    -------------------------------------------------------------------------
4 B( Z2 [% r/ J                 Detached Bungalows                Standard Two Storey; y0 S" @+ v) R: d0 Z/ b9 Y
    -------------------------------------------------------------------------
# R: V( f# I7 W9 q4 T                     2006 Q3     2005 Q3    Bungalow     2006 Q3     2005 Q3& f) R* b+ A* Y; v/ A, x
    Market           Average     Average    % Change     Average     Average
0 d. U! @0 E8 K$ k! ^5 A    -------------------------------------------------------------------------
: u* R' o+ U9 s6 n    Halifax          186,333     173,333        7.5%     198,667     199,000
( R( |; T. ?( l! B+ |    -------------------------------------------------------------------------
  {4 h. s2 C+ O    Charlottetown    145,000     141,000        2.8%     175,000     170,000. ]. ]$ _# g( Q+ R/ u
    -------------------------------------------------------------------------8 P9 T6 i1 U% B9 O) K3 l! O* l
    Moncton          135,000     127,000        6.3%     129,000     123,0000 P' B$ A% \6 p9 K% A% m9 s3 \( L
    -------------------------------------------------------------------------
0 w+ {7 y" y9 h8 q2 J$ g) K    Saint John       141,200     142,900       -1.2%           -           -
" }3 e6 |; S. [3 ~, N& ]    -------------------------------------------------------------------------
; X2 _5 G# Z7 L8 F    St. John's       143,667     142,667        0.7%     200,667     202,333
; e  I  N% B- [# ~4 |    -------------------------------------------------------------------------
0 R. ?1 B, b6 M: N7 {! l    Atlantic         150,240     145,380        3.3%     175,833     173,583
! F% q- {0 ]* `+ s6 g6 l: i: e: R/ C    -------------------------------------------------------------------------5 @2 ?* _/ e6 W3 O
    Montreal         213,691     203,500        5.0%     321,141     316,185
) R  z' ~0 N* \0 T$ ]- x) i" z    -------------------------------------------------------------------------2 h# z6 K+ z8 @, N9 n6 ^
    Ottawa           290,083     278,417        4.2%     285,667     273,250
/ _4 I6 p; u, Q- h) J! z5 P9 z    -------------------------------------------------------------------------& }. \4 S6 I5 i' a1 H
    Toronto          373,368     355,882        4.9%     481,523     474,7667 Y! h. N& ^, f4 y' m8 P! ]
    -------------------------------------------------------------------------
$ D- X! J% m  k" Q+ T6 Q    Winnipeg         181,579     159,860       13.6%     202,337     180,707
% ]9 S. z3 N8 s/ D8 _& u: r    -------------------------------------------------------------------------8 ~5 I; ]; p% v: D8 L
    Saskatchewan     170,667     156,083        9.3%     182,600     166,500
4 B& ~* a4 j  a" D    -------------------------------------------------------------------------
+ L, C$ f1 Z/ R" s    Calgary          395,067     252,411       56.5%     405,778     264,389* B$ s0 R+ P2 F: p) `+ O2 L7 z# N
    -------------------------------------------------------------------------
2 J" o0 Q2 K) F    Edmonton         286,857     194,857       47.2%     316,429     206,714
* s# x" L7 }' r1 z    -------------------------------------------------------------------------
& N2 |8 e/ h* _; ^$ J    Vancouver        704,250     601,000       17.2%     794,000     697,500
& K" p, _- e' E7 @  _  N- w    -------------------------------------------------------------------------
; r. i3 R5 b( s! L) M3 ]8 }, I    Victoria         375,000     348,000        7.8%     403,000     391,000- {& z0 R' q; L$ r* n/ g
    -------------------------------------------------------------------------
; |' C% [5 U1 o$ e9 ]) |" N    National         300,365     258,202       16.3%     365,380     322,860
- `# N, Y" g. m0 T4 g    -------------------------------------------------------------------------! O( A/ K/ B7 i

  e1 N2 T& {2 q' i" C2 s    -------------------------------------------------------------! w# f6 ?* G" P9 s% @3 E3 q
                               Standard Condominium, h' p3 k6 g: n8 ]% H
    -------------------------------------------------------------
. ?0 M5 a; d$ `4 Y2 C5 y6 m1 G. [                    2-Storey     2006 Q3     2005 Q3       Condo4 l) Y8 S2 t, r. y
    Market          % Change     Average     Average    % Change
) z- ~0 z- `' Q( G" k    -------------------------------------------------------------
  R* }2 V# ?, ]- W: a0 k    Halifax            -0.2%     142,000     103,000       37.9%
% @. Z* l2 V3 A1 v    -------------------------------------------------------------
, m; Z1 [; Z0 W    Charlottetown       2.9%      98,000      98,000        0.0%
6 }7 e5 E2 H0 ^1 o    -------------------------------------------------------------
, p* f( @1 A0 N    Moncton             4.9%           -           -         N/A
( G& m5 d! ^  i* R, l    -------------------------------------------------------------
( [( W8 q7 Z2 t% Z    Saint John           N/A           -           -         N/A8 F+ n( ~" c6 J( R. x3 s
    -------------------------------------------------------------7 M' u6 ~) Y/ j9 c1 ^6 @
    St. John's         -0.8%     146,333     145,667        0.5%% R6 T% y9 H9 X7 p  E# J# U
    -------------------------------------------------------------
' D. a7 m3 i1 G/ @  D    Atlantic            1.3%     128,778     115,556       11.4%' d/ F- D7 p. y1 X4 c' g
    -------------------------------------------------------------& U/ k& F. o% h6 n+ L6 a
    Montreal            1.6%     193,190     188,016        2.8%7 d- n$ F9 E9 `( @3 x6 e
    -------------------------------------------------------------% o6 h" @, u( w" q$ O$ n2 n
    Ottawa              4.5%     181,083     172,250        5.1%  L2 a7 i4 }+ U4 O
    -------------------------------------------------------------
; w& m) T2 z4 k    Toronto             1.4%     252,088     242,918        3.8%
5 x6 Z5 b7 l* r0 h    -------------------------------------------------------------
  a# J5 J1 V% G3 c6 Q9 T6 D    Winnipeg           12.0%     105,648      96,008       10.0%
! z: u! b1 b' |: I3 j    -------------------------------------------------------------
7 F1 Q. Q2 o6 U9 D: `8 w    Saskatchewan        9.7%     106,250     101,000        5.2%
! S0 o- u3 s3 Y, D    -------------------------------------------------------------
9 F; T* G) z. |8 u; J1 q  ~* f4 [' r  l    Calgary            53.5%     245,844     153,867       59.8%
; u; A  k9 B, M1 O$ `6 s    -------------------------------------------------------------2 V, r5 f! n* S( k2 Z: l2 D9 l
    Edmonton           53.1%     200,433     131,500       52.4%
' \6 i  a. Q* A8 e$ }    -------------------------------------------------------------
4 T& U) z" X3 K, H! ]$ M2 L% C    Vancouver          13.8%     366,250     323,250       13.3%
! o' ]& S; u7 o    -------------------------------------------------------------
1 w+ b3 Y+ B2 E* F6 V( n. W+ \    Victoria            3.1%     229,000     220,000        4.1%) ?% l" {. j+ _0 O. Z
    -------------------------------------------------------------
# T4 Y& m( e6 ]+ O: w0 v" [    National           13.2%     211,562     185,296       14.2%
0 @: s$ Q0 ~6 u1 U    -------------------------------------------------------------$ z6 D& D; t( O; R7 K1 V. B
    >>
1 |: ^: Q: C( g" U- A6 p& h$ m) \7 X* Q9 r
    Average house prices are based on an average of all sub-markets examined
  S( P0 G: B. [. U- z2 {in the area, except for the smaller markets of Charlottetown, Moncton, Saint0 a% H* [# z8 P; G2 y4 O! @+ V
John and Victoria.
1 S* l0 y% P% I  p- F/ I
) O- A9 X+ h6 T# t2 L/ l/ O    The Royal LePage Survey of Canadian House Prices is the largest, most  p. H* h7 Q. }7 X
comprehensive study of its kind in Canada, with information on seven types of
1 q& l" X- S( r! M, ~$ i: Q/ uhousing in over 250 neighbourhoods from coast to coast. This release
9 T- s; d/ I& t) W2 j8 [( W! Xreferences an abbreviated version of the survey, which highlights house price
% Z9 w& t* h; ^$ s1 qtrends for the three most common types of housing in Canada in 80 communities
$ a, N0 g9 N- J4 d& n9 z9 k. {across the country. A complete database of past and present surveys is
( ?9 I& B( i- m6 ?6 Wavailable on the Royal LePage Web site at www.royallepage.ca, and current* y( t9 ~" V, v2 [: {
figures will be updated following the end of the third quarter. A printable, a, P* Q- Q2 Z7 Z
version of the third quarter 2006 survey will be available online on
+ d" f# W2 F2 j" T0 c3 HNovember 15, 2006./ J  n; e8 m' Q% }' A4 g
    Housing values in the Royal LePage Survey are Royal LePage opinions of3 x1 L* [2 W: v+ N! i
fair market value in each location, based on local data and market knowledge
( `0 ^6 }- F6 B3 Bprovided by Royal LePage residential real estate experts. Historical data is3 j8 {# p5 @3 O8 B* u7 {
available for some areas back to the early 1970s.
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