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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
. Z' R# Z; ^& M( i9 c  m6 c, [+ Z" }& I2 ?- J  D
- Country's market poised to show growth throughout 2006 -
6 u0 b8 t, I; I9 a4 B. H5 \" K6 \3 d' Q' A. f' r7 \
    TORONTO, Sept. 28 /CNW/ - For most of Canada, the housing market
* D6 L1 `# A: N' b/ s" \& jexhibited moderate price increases and stable unit sales during the third
) J  d& \, @5 k  G( _quarter. Wide regional variances continued to be the dominant characteristic
. z: X! \. @% g+ [6 W* q1 c* g2 w. }0 Xin the market, exemplified by frenzied levels of activity and double digit: Y: m8 L( c# f- F
price gains observed in the energy and commodity rich Western provinces, and
4 \9 [9 U7 A( F2 E9 _more reasonable sales volumes and moderate price appreciation in Ontario,
3 Q7 s- F: u* A# D6 ?6 Q) X. FQuebec and Atlantic Canada, according to a report released today by Royal
2 \% Z9 ?) M9 Z  |) s- m6 hLePage Real Estate Services.
+ m+ S1 J# ]7 u) K  b: c+ D: v. d) W1 f0 c9 p% t; P) S2 @0 H
    Nationally, market trends established through the first three quarters: l( K: ^4 N9 V# E% ]
are forecast to continue for the remainder of the year. Robust economic0 A5 B& x( r" N$ c
conditions, low unemployment rates, modestly growing salaries and wages, and
  b6 o% n4 L! v' c9 C& ^7 usound consumer confidence contributed to the overall strength of the
: }$ q; S4 G8 t; |. iresidential real estate sector.4 E/ t  w/ [: v' G
# V$ i5 p/ p( J1 s& i
    Of the housing types surveyed, the highest average price appreciation6 L9 c/ |9 a4 f
occurred in detached bungalows, which rose to $300,365 (+16.3%)% _+ Z9 M# [9 P
year-over-year, followed by standard condominiums, which rose to $211,562
9 [, o& ]# ], N* q$ }' X0 O(+14.2%), and standard two-storey properties, which increased to $365,380
- Y; D* R) O+ |7 D/ `" F1 w2 j2 B(+13.2%).
5 Y1 c0 n( S7 k: i
* _, b9 A; K" A# J& k. u. [9 O    "Canada's sturdy housing market continued to demonstrate steady growth
: A) _, x  k6 l& D" P9 Zduring the third quarter. For all but the west, we have moved on from the
5 A% K9 r6 c+ Y) l/ N! m$ }frenzied expansion that characterized the first half of this decade, and are
# C" T$ m) @( L6 a* {poised to show continued growth at a more moderate pace," said Phil Soper,
- G: n1 _6 Z( N& U* npresident and chief executive officer, Royal LePage Real Estate Services.
9 ^& A  H4 M7 M* o  C"Gone is the sellers' market that we have lived with for some years. We8 @! f# V3 V) K) Y
welcome the more reliable conditions that are characteristic of a healthy' O* }( r) Z/ s
balanced market."
. Q" W& `6 o8 s  \; C
. L, u  A0 \, c; ~    Despite the double-digit rise in average national house prices,- S$ i. d: Z0 q
considerable regional variances were exhibited again this quarter. The shift/ R+ C! m* y5 r4 w6 P4 J( d& A
to balanced market conditions, which began in late 2005, has continued" B: Q# u- n0 g: z% @- P
throughout most of the Central and Eastern regions of the country. In the core& J5 _! `& d% d5 I8 f8 ~# U' e
energy producing western provinces, the combination of very high in-migration,+ o0 g/ }- J4 O% m3 x0 A
manageable affordability, and a shortage of inventory has driven record
: m1 ]: U" }( a5 b( M* t' g  [3 Mbreaking price appreciations.
+ C) V8 {+ z7 C
: F6 ~* U3 T9 t/ {( O    Echoing the second quarter and supported by Alberta's rapidly expanding0 B% `" v1 W' o4 @
economy, Calgary and Edmonton led the charge of Canadian cities with the" ]+ z8 K/ A' N- i5 h7 s
largest house price appreciation in all housing types surveyed.9 P  S+ P0 l; q& @, V( E* }" o' v

8 x# ^! N, Q3 h: Q1 ~# o; u    In Ottawa and Toronto, growth remained steady, supported by solid6 G, _2 j5 C: C) @4 s
economic fundamentals, an increase in available inventory and strong consumer
" _" {+ `: l8 I& h! I9 i1 r& Nconfidence. While the pace of price appreciation in Ontario leveled off* X! T: D( g+ J0 i! V
slightly, the province's real estate market remains poised for modest growth.
8 v/ X, F; Z) k; x' P4 w! m7 Z7 Y- OIn Atlantic Canada, new housing and condominium construction offered buyers2 q8 i8 D4 e# _! ~4 F) H
greater selection at more competitive prices, resulting in a slower rate of
9 t) J: S1 t; g$ ?9 A$ a. oprice appreciation when compared with 2005.
+ l9 d0 ]) y9 a- T
) W% w2 v; ?* j0 q0 t& C. A! G    While the pace of growth in Canada has slowed, the domestic housing
1 _+ [) G( y0 }+ T8 t7 g) jmarket is expected to outperform the American market. The economic and
' I- P% z' j# [financial fundamentals driving the residential real estate sector in Canada4 X9 B' C" @; Q1 ?. H# f' Z$ Z* F
are markedly different than those found in the United States.
  o8 m. |% |6 t9 V! k! f+ i7 T9 a7 |$ J1 ?( I, ]9 d( `; K) n
    Added Soper: "Canada's housing market is likely to outperform the6 i+ x7 K6 i* v8 O
American market through 2007. A number of factors are working in Canada's! j1 Q% g/ L9 U
favour, including healthy personal and governmental debt levels, the
5 `/ O& K& W$ c9 n  w" Frelatively modest rise in interest rates in our country, and general
7 H4 m+ j5 _4 j2 H. A# \4 Xaffordability in our major cities. In addition, Americans are now seeing the" e# ~: w1 k5 R. j* K
downside of a tax system that encourages maximum homeowner leverage, and3 v0 Q/ c, Z' R
aggressive financial products such as zero- and negative-amortization
4 a& N/ e6 Y4 T) @# F# Q; F, zmortgages that work only in a high price growth environment."
  j: O* W  p* ]. c( R  [% v
1 B4 S! g8 v4 Y8 b9 s! Y0 p& i" ?9 E    <</ G) |# e& C; C4 X
                             REGIONAL SUMMARIES
( c8 i; V/ `& `3 b- \    >>
/ _4 z2 m8 o" Q' F+ d; L$ {8 T. p1 r& j5 _  L! e
    Balanced conditions continued to characterize the housing market in
. P9 j6 q" k7 z, UHalifax, as significantly higher inventory levels helped to moderate the rate
* @1 {$ Q1 t/ k" o* K5 ^of price appreciation. Buyers were increasingly choosy, taking more time
+ z$ _8 w* t" ^( ^. Q. _looking for newer, low-maintenance properties that were not in need of$ ?) W9 I/ @$ q( Y
renovations.( S. Y& Y7 M5 y# i
7 w$ z" x/ [4 q: B3 `: M5 x
    The housing market in Moncton remained healthy and strong as a slight
. b% ?/ S4 a% L9 J& J; Rincrease in inventory helped to moderate the rate of price appreciation- B( w) |4 z7 l
compared to the same period in 2005. Activity was brisk throughout August and
" u6 e( D4 J9 E7 h* [0 z* SSeptember and is expected to remain this way through the fourth quarter.
" b# {: V# Z. B9 X' [
' a: H, J7 P( H: u5 A7 f    The housing market in Saint John underwent its traditional summer: A5 t  ?$ v# B2 j5 Y' i. P/ Y
slowdown in the third quarter, with activity picking up towards the end of the
4 k9 n; W# N! ^8 W8 d! f) `quarter. The local economy continued to thrive, as construction on a new& @5 J# X. J% v& h' I1 M5 j
600,000 square-foot shopping area has begun, bringing several new box stores
' A- f& `0 {1 s; G+ Cto the area. Buyers have begun seeking less expensive fixtures for their homes" E% G. M* ?. J& J( |
and are instead opting for more affordable housing options.
5 E2 l# p4 h0 a+ h; j2 W3 g
3 r4 b+ P7 B" @7 s- _; o9 c/ d    In Charlottetown, the housing market started to move towards balanced
- p) b8 K4 @9 t5 f% p5 Cconditions, as some sellers had to begin to lower the asking prices on their
9 [4 [$ d2 R; d6 H+ Uhomes to make them more competitive. Activity from out-of-town and US buyers) ^* T+ i% b. P! Z% y
was down slightly compared to 2005, likely attributable to the strong Canadian
0 j5 m4 Z& C: P0 i* Mdollar. Inventory levels began to creep up in the third quarter, providing
; G* _6 c0 L2 _# N7 v6 K/ Xbuyers with more options when looking for a home.+ V& ?, ^9 s, L+ M$ L7 B( F6 ?9 c
5 M+ G* _: k3 K6 J8 {- {" G
    Activity in St. John's slowed slightly in the third quarter, particularly& }  K1 X9 s/ G
among higher-priced properties, where there was a slight over-supply of homes" E- b) l6 A5 z  n! z0 H4 H
priced over $200,000. Listing periods have increased when compared with 2005,
9 G. ]) n) M& v  ]  w6 ]* Uas some of the pent-up demand that had characterized the market over the last
4 l0 T( W3 n1 \' Q" S( e! V" m; Jfew years has been satisfied, resulting in more normal, balanced conditions.4 H6 M  P  x' {  C* h$ K

1 p3 _* R& m9 d# P: Q    Montreal's housing market recorded modest increases in average house: \9 h0 q$ d- B4 ]
prices, due to a slight seasonal slowdown in the third quarter as inventory  v" M$ }0 q3 D) @$ z
levels rose. Part of this can be attributed to the fact that many renting( b+ C: t. c6 J+ \4 \5 q: l) x
first-time buyers were motivated to close on the purchase of a home by July 1,) n% D% x+ E! Z7 V# `
when rental leases expire in Quebec. Once this date has passed some of the: I4 M+ s3 R, Q2 U; U+ w
pressure is taken off the market, allowing buyers to visit more homes before
' K( g/ z4 X+ [2 F7 Fmaking a purchase.
1 f8 d$ N8 ]! ]6 @! g4 q+ O/ u9 a# x/ Y# V
    Ottawa held its position as one of the country's most stable housing" y' [) r: ~8 S) W% S
markets in the third quarter, reinforced by a vibrant local economy and strong$ X  ^! N' {  I  v
confidence, resulting in modest increases in average house prices. The city+ o7 F0 Q) C/ n$ U( H. e2 C
centre remained a bright spot in Ottawa, with homes in this area attracting1 e( m" h: i1 m
attention due to their convenient location and proximity to downtown! {* o6 A, B  l/ c7 p
amenities.- Z( p+ G. z2 d( u2 B+ _' J  i
: ]( f) E! U& J" Y  Q& W8 ^% X
    The housing market in Toronto sustained healthy activity levels4 i$ B8 a2 N' K9 i4 N
throughout the third quarter, as a strong economy helped to maintain demand+ U* [$ s4 t/ G6 c- M4 s1 k
across the city, causing average house prices to rise moderately. Toronto has& b- |4 F9 a+ w) z4 H* n8 q
continued to experience modest growth in average house prices, and has been
7 \9 c; M8 b0 n: P. Z% u6 {! h. Edriven primarily by purchasers who are buying homes as their principle
6 m1 ]5 B+ @; _& H6 N! z& ^  sresidence, rather than for investment.+ R% P+ L/ S$ ~
; T+ g% i7 S7 f; g+ b# r6 t
    The vibrant Winnipeg housing market continued to show its strength as
' ~; |( H3 I% F4 j3 \house prices rose during the third quarter. The booming local economy resulted  G9 \2 Y! Z7 M9 x0 q" e
in a historically low unemployment rate, helping to bolster consumer
& N# C- r& _- x( F6 P' ]confidence and Winnipeg's ranking as the city with the lowest capitalization
( q3 h4 o/ o& U4 u3 k4 B- frate among the country's larger cities - helped to encourage buyers to enter
" Q# Z) S0 [' n. E: n- r+ Z9 ]the market.
5 t$ v# d+ h5 c1 @
  u1 C) }$ V. o/ D+ M6 R4 L    In Regina, the market experienced a slight seasonal slowdown through# y. ]% I0 T2 K9 N( v' G- @
July, as there were fewer purchasers in the market due to summer vacations. In5 s4 E9 \' W, O0 N
August, activity resumed to the busy pace previously seen in the spring
2 c( B: B+ y- g( {months, as the influx of purchasers made it more difficult to find a home due
- w3 F  _7 S4 Qto the shortage of available inventory.
" l/ q9 T! W9 x* o1 i2 Y! y# p" y/ A1 f; }
    Activity in Saskatoon remained brisk as the market maintained its( T, i6 ?! o8 Q6 ]
momentum from the busy spring sales period. The economy in Saskatoon remains2 ~- ]* G" M* B
vibrant, as employment opportunities are abundant with many businesses6 C! {3 x/ w% s9 S2 B% C) j
struggling to make hires and having to recruit outside the province.
& p7 `2 ]# `+ t$ s* Y: X+ l* ^2 v/ I0 J  V  p
    Calgary's housing market recorded blazing average house price increases
, v) \' \2 |! I# p& e' x  [in the third quarter, in all surveyed categories. The burgeoning economy, low/ l& E9 D. v6 c- b" M  f/ k- U2 U
unemployment rates and low inventory levels remained the leading factors that
6 ]# H# g& N0 x3 y/ Gpressured Calgary's house prices upwards. However, regardless of the soaring0 t" W' E8 P/ j, x8 U; @7 R, n
prices that characterized the market - even during the typically slower summer
  s2 L' r' s( Pseason - it is expected that activity will become slightly more balanced, as
6 O1 k0 P' I4 \6 o( U: j) }6 mbuyers are becoming more reluctant to participate in the frenetic activity.

4 N, _+ d% u2 r5 q9 x6 M4 p1 p# `% h  A" Y, z  Z
    Edmonton's booming local economy continued to thrive in the third quarter: c' H+ _# ~3 E+ H1 D# Z
as activity in the oil sands north of the city continued to flourish. Edmonton9 S: l7 S( J- A0 J3 n7 G5 n! H
remained the hub of activity for those coming to work in the oil industry,
8 h1 P6 ]1 o9 }6 ^5 Tmaintaining tight inventory levels across the city, resulting in prices' r0 c# z1 w2 ]- |3 X
increasing at record levels. However, as inventory levels continued to improve
/ L. K4 _& u. _- g3 Nin the third quarter the rate of price appreciation should moderate slightly- ?. B+ o& Z" @. p6 g
towards the end of 2006.
   
' f9 c" ]5 l0 O) }; d) ]" s) S! ^1 s
While Vancouver has seen a slight reprieve from the severe shortage of0 m% u  Y6 D# o2 q# M
inventory that had previously characterized the market, supply is still unable
8 ^$ \) P1 }5 w+ @to meet demand, driving house prices upwards. Vancouver has a very diverse
- _2 r0 g3 o. P2 e5 Ngroup of active buyers - from first-time home buyers to baby-boomers to: C! G: t6 b* ?  Q- H7 P
foreign investors - all of whom fuel the demand for houses, placing added
, p) d; l: h- I1 xpressure on tight inventory levels.6 e) E- N* K$ g1 C) s
! X- N1 [3 W  l
    Victoria's market is vibrant and supported by strong economic% @( `; q7 C" \+ k6 N, \+ F
fundamentals, fuelled by a booming tech sector and a migration of young people' _# j( o; n3 E$ J) w" J% Y
into the city that has continued to support the area's house price increases;
; `# Z, K0 ]1 ^. y0 z9 s5 {while increased inventory levels have afforded buyers more time when searching
- W8 M7 y8 A- R- k8 Ofor a home, helping to normalize the market's pace.
7 G3 m' b% `7 V. d* d) w- M; q# l9 @% `3 [& S
    <<. V/ ?" e. x; a6 {; k: X
      Survey of Canadian Average House Prices in the Third Quarter 2006
. V( R2 U& ]" X& q4 F7 `: b( _  T) C( I( p0 K
    -------------------------------------------------------------------------# u+ v3 R) x$ w- ~1 Q1 i: Q+ ~: L% U* s
                 Detached Bungalows                Standard Two Storey
8 g. a9 l; }" [0 }    -------------------------------------------------------------------------) B1 X* I3 `* z9 B; {( Y2 x
                     2006 Q3     2005 Q3    Bungalow     2006 Q3     2005 Q3* ?4 e) X3 h6 K5 n, |* f. U. T" B
    Market           Average     Average    % Change     Average     Average
: Y8 }1 {: y0 w    -------------------------------------------------------------------------
) H7 P8 S+ I( L% W# X    Halifax          186,333     173,333        7.5%     198,667     199,000  e  H" t6 D( o# ?2 J+ S
    -------------------------------------------------------------------------
5 L3 ]/ f  x% S; w# }    Charlottetown    145,000     141,000        2.8%     175,000     170,000
8 c# v9 _) F; U$ w    -------------------------------------------------------------------------
0 S, e" G0 i7 b( @' E2 n    Moncton          135,000     127,000        6.3%     129,000     123,000
8 @8 R, R# V, v    -------------------------------------------------------------------------- s9 z/ @  a- g* }& @! B
    Saint John       141,200     142,900       -1.2%           -           -9 h4 r; z" C3 |3 p5 O4 R7 e& t9 t
    -------------------------------------------------------------------------* c6 w+ V) Q2 @1 w9 v
    St. John's       143,667     142,667        0.7%     200,667     202,333
# @4 P7 O+ A9 j* @" n    -------------------------------------------------------------------------* p9 `2 ?# ^% a! G& |- ]9 Z
    Atlantic         150,240     145,380        3.3%     175,833     173,583
) H( j8 b! l) Y* l- G    -------------------------------------------------------------------------6 O; r8 r, @' V0 X* A. B$ E/ e  j
    Montreal         213,691     203,500        5.0%     321,141     316,185
1 ?2 S. _3 ~- d/ O# E, C    -------------------------------------------------------------------------" J( v5 n9 h( i( H9 V
    Ottawa           290,083     278,417        4.2%     285,667     273,250
) E; c( @* j0 ~% @. C# a    -------------------------------------------------------------------------
6 W4 {7 X: `3 W) y. f# D    Toronto          373,368     355,882        4.9%     481,523     474,766; J2 w: Q5 i% t* g5 X
    -------------------------------------------------------------------------, k: s' v* g1 }' F- \  {- J
    Winnipeg         181,579     159,860       13.6%     202,337     180,707: }( U% q1 H4 k. T
    -------------------------------------------------------------------------7 \9 u# o- j* a
    Saskatchewan     170,667     156,083        9.3%     182,600     166,5001 c( h; S* ]; ~7 ~7 `$ H/ V( X
    -------------------------------------------------------------------------, O' a4 }2 G9 I
    Calgary          395,067     252,411       56.5%     405,778     264,389% M/ A+ c5 o- B  M$ p5 s( R
    -------------------------------------------------------------------------2 \. X; x% ]4 L5 c9 B
    Edmonton         286,857     194,857       47.2%     316,429     206,714
, \* f! {* l4 f3 D    -------------------------------------------------------------------------: c8 b" l7 b% v* J& m
    Vancouver        704,250     601,000       17.2%     794,000     697,500, c7 O  \& v. U1 d
    -------------------------------------------------------------------------
2 w' e2 Y( {- z4 v: \5 `4 w    Victoria         375,000     348,000        7.8%     403,000     391,000
, b# B$ b" |  }4 s/ h9 b    -------------------------------------------------------------------------; m! z* {! H/ Y& `: H4 a' h
    National         300,365     258,202       16.3%     365,380     322,860
+ A% i% c' E. f: m: Z" ]    -------------------------------------------------------------------------
% ?: W6 Y) L1 [  w: I; y% W: {5 j, r& d! ]: `) u/ f) d4 i+ W
    -------------------------------------------------------------' b* r) C8 U8 T. s6 L: F& @
                               Standard Condominium
1 e4 k; S! ^( O    -------------------------------------------------------------
+ m" ^( {3 \- S                    2-Storey     2006 Q3     2005 Q3       Condo5 n0 M3 M8 ?2 m& C* q( K
    Market          % Change     Average     Average    % Change* @- t/ h6 Q3 B, O. U7 V9 t5 C9 K1 ~
    -------------------------------------------------------------* Q. v( @  t0 b( \
    Halifax            -0.2%     142,000     103,000       37.9%
# ~  P+ {8 t( U6 y+ Z    -------------------------------------------------------------3 b6 e/ K  D7 K- v
    Charlottetown       2.9%      98,000      98,000        0.0%5 C' D0 `1 ?# E& o+ b8 h3 y5 F
    -------------------------------------------------------------
( o- }, m6 T% W. }0 p1 P    Moncton             4.9%           -           -         N/A
. s% {: h. w3 o1 ~" ?: k: B    -------------------------------------------------------------( ^+ R7 B3 l4 a7 ~2 }8 s, e
    Saint John           N/A           -           -         N/A" t+ C6 H6 J; f" A2 ^/ Q0 Z
    -------------------------------------------------------------8 l- h- Y+ s/ _- c
    St. John's         -0.8%     146,333     145,667        0.5%
- M8 i4 L5 f5 _  J5 n- r    -------------------------------------------------------------
, X, t$ b; \7 ?) B1 m. L. k    Atlantic            1.3%     128,778     115,556       11.4%9 ^2 y0 O  `5 s% {' t
    -------------------------------------------------------------" t3 l4 t/ Y$ z4 Q8 U
    Montreal            1.6%     193,190     188,016        2.8%  N2 C* |% v% f' S  [
    -------------------------------------------------------------
" M. t' l9 C$ x    Ottawa              4.5%     181,083     172,250        5.1%
; k/ V2 M* y8 w" z" E+ z    -------------------------------------------------------------" ^7 t7 \, ]5 x  H
    Toronto             1.4%     252,088     242,918        3.8%5 v- P/ d" h7 o4 y( K5 o7 X
    -------------------------------------------------------------1 ?* e1 @$ W* V) R
    Winnipeg           12.0%     105,648      96,008       10.0%
0 J) K9 @* ?3 @/ b& D3 G1 g; {7 Q% Y    -------------------------------------------------------------
7 O1 y8 p) [$ ~& z7 _    Saskatchewan        9.7%     106,250     101,000        5.2%7 O6 F0 _0 Y# \/ m: C+ Z; L
    -------------------------------------------------------------0 }$ _2 r0 }) D- y
    Calgary            53.5%     245,844     153,867       59.8%5 K, v0 X: |5 c3 R# u" v7 B" d2 s
    -------------------------------------------------------------! g' s/ @- d' [3 h3 O3 ~
    Edmonton           53.1%     200,433     131,500       52.4%
% W$ V% P( a/ ^$ t2 v7 J    -------------------------------------------------------------
; p3 h- s# i, B# O, y: }6 E! H# k    Vancouver          13.8%     366,250     323,250       13.3%7 i) ?0 w, ^5 d6 {/ ]5 o) F
    -------------------------------------------------------------9 v6 L: O5 B  b- ?! z1 C! p7 V
    Victoria            3.1%     229,000     220,000        4.1%
+ [2 |) S* ^% @' t    -------------------------------------------------------------
* X( M* i6 m9 {- k    National           13.2%     211,562     185,296       14.2%
9 U! b; O& w( H$ A    -------------------------------------------------------------
; Q& F$ s- S% Q9 ^    >>
6 l2 [" Q  Y) y2 W0 w  }/ @( e& \( }: N; L9 A
    Average house prices are based on an average of all sub-markets examined" l( r+ m/ ^& U
in the area, except for the smaller markets of Charlottetown, Moncton, Saint- Z2 a' N+ |  |/ l) A/ X& q
John and Victoria.) ^* G/ B5 O" ?% X6 |6 j

* s; x' E" k. }" ^8 {    The Royal LePage Survey of Canadian House Prices is the largest, most, V& K' x% e* h0 K  J$ ~3 k% w
comprehensive study of its kind in Canada, with information on seven types of
: @. w+ D8 }9 w# Ahousing in over 250 neighbourhoods from coast to coast. This release
1 k$ ^! l) H1 M; ^. wreferences an abbreviated version of the survey, which highlights house price
+ D  D+ B! l% B: R6 O  ^trends for the three most common types of housing in Canada in 80 communities
4 O  L0 d# e. i$ o/ {across the country. A complete database of past and present surveys is, B9 m/ p. q% z% |+ y
available on the Royal LePage Web site at www.royallepage.ca, and current
' O* i# D% p9 M5 F8 t' }" ffigures will be updated following the end of the third quarter. A printable: c7 B9 b/ h# i8 ^, v5 n4 f
version of the third quarter 2006 survey will be available online on1 }9 O- |! \4 Q. C0 s$ A
November 15, 2006.
$ p) J7 \' [' U' u; |  c4 a* @    Housing values in the Royal LePage Survey are Royal LePage opinions of
% W; v; b* Z5 k, }3 Z3 v& B. x) Yfair market value in each location, based on local data and market knowledge1 U9 p. W* i2 U2 o5 d
provided by Royal LePage residential real estate experts. Historical data is" b) M- b- ^* `3 R' o; X( Q7 B) D
available for some areas back to the early 1970s.
理袁律师事务所
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