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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 ' n0 r) p, Q/ ^; o

' G' o8 h, m. ?4 F* i1 Y- Country's market poised to show growth throughout 2006 -6 C1 N+ `9 F7 p- j

- C' {) |8 N; h, G    TORONTO, Sept. 28 /CNW/ - For most of Canada, the housing market
: l) h" D0 D$ I* H* A' M) d, n$ iexhibited moderate price increases and stable unit sales during the third9 c7 J5 f* Z* H) [  G
quarter. Wide regional variances continued to be the dominant characteristic
. e4 X% E# u$ q& _+ z( y$ a7 j2 l) \in the market, exemplified by frenzied levels of activity and double digit
9 _. Z% q$ j/ F4 Mprice gains observed in the energy and commodity rich Western provinces, and
/ i. t' G9 ^1 }( F) a0 t! |* Imore reasonable sales volumes and moderate price appreciation in Ontario,7 s4 g- j! e* T: l& r
Quebec and Atlantic Canada, according to a report released today by Royal+ z1 M; g5 e: b. h- R( @
LePage Real Estate Services.% l1 r* I" W3 l) k8 p
$ H8 Y# k) G, z7 c) k
    Nationally, market trends established through the first three quarters
) Y+ |# \) M2 Yare forecast to continue for the remainder of the year. Robust economic5 Y  B0 O4 {7 U6 X- }$ ?
conditions, low unemployment rates, modestly growing salaries and wages, and  R4 c5 `- r# s, [
sound consumer confidence contributed to the overall strength of the  w, E9 z8 L( K( z' {
residential real estate sector.
/ s. S  f( u' x% l1 D- ^" ]) c3 ?4 s0 X/ M; }  Y2 S
    Of the housing types surveyed, the highest average price appreciation7 ]5 o' o6 b8 `  u7 d/ }
occurred in detached bungalows, which rose to $300,365 (+16.3%)1 c& y' O, T4 q2 k
year-over-year, followed by standard condominiums, which rose to $211,5626 F8 L/ {7 @6 F9 O
(+14.2%), and standard two-storey properties, which increased to $365,380
  W; ]! v# v; D3 z: h9 l% w$ C(+13.2%).
. L( Z% A/ M" D* T( o; @% O& n1 \( [, W) r
    "Canada's sturdy housing market continued to demonstrate steady growth
' |$ Q2 o1 k4 H$ uduring the third quarter. For all but the west, we have moved on from the/ _9 M+ `& m: m4 E( |7 O
frenzied expansion that characterized the first half of this decade, and are
( y1 U0 s2 a  L$ J4 ^5 r3 X& C. Spoised to show continued growth at a more moderate pace," said Phil Soper,
# s* e  g3 ?" Y8 a8 Zpresident and chief executive officer, Royal LePage Real Estate Services./ H% {' i& ?! W0 J/ R& y5 |- Z) |9 F
"Gone is the sellers' market that we have lived with for some years. We$ @5 I# e( H& l5 e7 l% W
welcome the more reliable conditions that are characteristic of a healthy
6 `* l0 j0 ]3 Jbalanced market."! R; l) ?/ u3 h* l
" s1 c; b, b% L9 S
    Despite the double-digit rise in average national house prices,
) v1 }+ p+ A- U; n" ]. J# a6 cconsiderable regional variances were exhibited again this quarter. The shift
6 K" o7 Y, F8 Ito balanced market conditions, which began in late 2005, has continued6 ]; e% o- E( M3 {: Q% i, l
throughout most of the Central and Eastern regions of the country. In the core- Q( w; N  J; I  v1 V7 n
energy producing western provinces, the combination of very high in-migration,
. l- B2 B2 {' T! n$ c5 jmanageable affordability, and a shortage of inventory has driven record% l2 j' n0 j% |
breaking price appreciations.2 s) ~3 R% E4 S6 s

, e! v* L% x2 p+ c    Echoing the second quarter and supported by Alberta's rapidly expanding6 ~  U/ j; y& x$ [# y8 B1 ?
economy, Calgary and Edmonton led the charge of Canadian cities with the
7 E" ]3 t% Q) ^- X) Elargest house price appreciation in all housing types surveyed.) j) j; q) m5 p7 K; ^* N  C3 S: ~: h
+ t% D: x& Z7 S# j% S8 E: P5 m% o, h
    In Ottawa and Toronto, growth remained steady, supported by solid- J+ B2 ]' J3 Y2 _" K
economic fundamentals, an increase in available inventory and strong consumer; m0 q4 s! n$ Y: T- Y
confidence. While the pace of price appreciation in Ontario leveled off3 x% d/ _1 m) E0 u: I* V% d
slightly, the province's real estate market remains poised for modest growth.
" H/ e& ]$ R* U" F3 E% iIn Atlantic Canada, new housing and condominium construction offered buyers8 h# y- J; z/ F. @' s7 c/ W
greater selection at more competitive prices, resulting in a slower rate of) `! A0 \+ F7 m, G. h
price appreciation when compared with 2005.: z. i( {; @# K- t+ p6 @  c" U' d- M

( q$ Q/ ~$ q7 T2 _1 [) K    While the pace of growth in Canada has slowed, the domestic housing1 N+ U2 U/ Z+ K& G9 P
market is expected to outperform the American market. The economic and
& E% [, o2 ?0 A$ P6 L) [$ wfinancial fundamentals driving the residential real estate sector in Canada
: f: n0 e& i/ O4 Y# yare markedly different than those found in the United States.1 B/ K/ U& `" [5 M" B
9 R* H) l( q# c& F: o4 G
    Added Soper: "Canada's housing market is likely to outperform the4 Z8 q8 L$ M* b( s" T  n
American market through 2007. A number of factors are working in Canada's
$ V4 j7 M6 ?8 @& I4 e- qfavour, including healthy personal and governmental debt levels, the3 Z, o( m) Y% n' g0 Q, N* r
relatively modest rise in interest rates in our country, and general: d, [7 N* R# E/ N2 a/ z
affordability in our major cities. In addition, Americans are now seeing the& |8 X7 i( q" ?
downside of a tax system that encourages maximum homeowner leverage, and& ~) |" z  |9 @. B" B# k3 z- [
aggressive financial products such as zero- and negative-amortization! \% {% d# B" O/ J
mortgages that work only in a high price growth environment."4 x- q: j) \' j) D
& ~3 N! y  ~  j- F! p0 A
    <<6 O1 @) u, v& _$ E
                             REGIONAL SUMMARIES5 i# r# h. W2 N$ }7 g5 q  k+ Y3 C4 J
    >>. T3 |. H$ r8 R) f% i" i) r5 G

* q  C2 y8 B9 @, e    Balanced conditions continued to characterize the housing market in
1 W9 b8 ^% a5 Y( @% YHalifax, as significantly higher inventory levels helped to moderate the rate# w! ?- o7 `8 a8 B8 c$ ]
of price appreciation. Buyers were increasingly choosy, taking more time
& E3 {2 A4 w) Q( alooking for newer, low-maintenance properties that were not in need of8 ]) T6 Z. @. t0 }5 |
renovations., D) i) a) F  K- I8 \

$ h* d- \) [& y2 n, d. G- Q    The housing market in Moncton remained healthy and strong as a slight
- E9 G8 X( x$ x6 U3 wincrease in inventory helped to moderate the rate of price appreciation
" Y. c# ?+ H( O" E/ N( y/ X$ Dcompared to the same period in 2005. Activity was brisk throughout August and
. X3 B3 z6 \0 Q" rSeptember and is expected to remain this way through the fourth quarter.
& Z+ w7 A0 m6 O: C+ k6 v. P. V! }8 K0 K: X( D0 e. Z
    The housing market in Saint John underwent its traditional summer/ @* {: r+ V( Y8 B  a
slowdown in the third quarter, with activity picking up towards the end of the6 B! m3 U. U& Q" r0 D; l; G
quarter. The local economy continued to thrive, as construction on a new. L7 m7 K4 g# \) l  h1 I# A
600,000 square-foot shopping area has begun, bringing several new box stores. W" U4 L0 y# Z8 {/ S! c
to the area. Buyers have begun seeking less expensive fixtures for their homes
. Y: h, T6 B" R' D2 ~and are instead opting for more affordable housing options.8 q, l6 h' R& _: l. b$ e! q1 x4 C% |

+ ~* q4 |* W- Z# p    In Charlottetown, the housing market started to move towards balanced3 k; Q) e/ Y  t+ Z$ Q" K0 \
conditions, as some sellers had to begin to lower the asking prices on their
2 x, Q7 i8 n7 P2 P  g7 p3 N' C7 hhomes to make them more competitive. Activity from out-of-town and US buyers
8 s  Q  h/ B+ A& r6 Nwas down slightly compared to 2005, likely attributable to the strong Canadian  W1 v8 W. y& H7 u9 M) _9 e
dollar. Inventory levels began to creep up in the third quarter, providing
$ c5 k3 }7 ]0 g1 f: X2 x9 Y1 F0 Bbuyers with more options when looking for a home.
# C- ^; ^' U3 U
8 C1 U: j9 D- }0 j% n    Activity in St. John's slowed slightly in the third quarter, particularly
3 N2 f! X6 ^: j* M9 P. V: [. E: Kamong higher-priced properties, where there was a slight over-supply of homes6 a% g( n% p3 |: H- N# a
priced over $200,000. Listing periods have increased when compared with 2005,
3 R0 N& k! g. Q9 M8 N1 k5 k! e; Bas some of the pent-up demand that had characterized the market over the last! i  e8 F. g6 k4 D) Y
few years has been satisfied, resulting in more normal, balanced conditions." ]- f, G5 Q3 _3 I5 n7 }
, i; N  `; ^# W5 E- v# q# M* i1 G  J3 Y
    Montreal's housing market recorded modest increases in average house7 _8 }& _0 `7 J
prices, due to a slight seasonal slowdown in the third quarter as inventory8 B# H" {! Q% \' ^
levels rose. Part of this can be attributed to the fact that many renting
# [( G* ^# O: @: A9 nfirst-time buyers were motivated to close on the purchase of a home by July 1,
+ k/ E' \1 @5 v6 a; i0 Swhen rental leases expire in Quebec. Once this date has passed some of the) @) C' y: P* ~( L. l/ |
pressure is taken off the market, allowing buyers to visit more homes before' Y) G: D' P- @0 e( g
making a purchase.
8 c- C" N2 L, q
( j' T* c. _" i1 H/ ?& r    Ottawa held its position as one of the country's most stable housing/ B: l# n- ~8 _: d% _
markets in the third quarter, reinforced by a vibrant local economy and strong
' B  u1 u1 m+ @3 v8 Lconfidence, resulting in modest increases in average house prices. The city
% J" w: t, p8 i: g7 jcentre remained a bright spot in Ottawa, with homes in this area attracting
! f7 T" [# w+ z" j) Y# W# vattention due to their convenient location and proximity to downtown
- R3 V7 v4 {/ I1 X, Famenities.' i# A" w9 V, y2 V9 i

6 C2 P3 Q5 y! \2 e' y    The housing market in Toronto sustained healthy activity levels
; A: s! ?* ~- A7 ]. xthroughout the third quarter, as a strong economy helped to maintain demand
, s, E7 e% `( g1 X) U8 Lacross the city, causing average house prices to rise moderately. Toronto has! F, v% I' S. v! z  w. H
continued to experience modest growth in average house prices, and has been6 \& E. D' G  E+ P* F. z6 v: C
driven primarily by purchasers who are buying homes as their principle0 w$ I. b: [4 p3 {
residence, rather than for investment.8 V7 z# n6 C/ S7 s
- ^# i  w) R3 j* Q  B: p$ }: o
    The vibrant Winnipeg housing market continued to show its strength as; G+ u/ `6 ^+ z: W7 i- |. h# {' k
house prices rose during the third quarter. The booming local economy resulted
* E% \% b- j. u9 S3 g) ain a historically low unemployment rate, helping to bolster consumer, Q9 b6 I- d+ w1 l
confidence and Winnipeg's ranking as the city with the lowest capitalization
5 F2 p0 a* z0 y2 }1 Mrate among the country's larger cities - helped to encourage buyers to enter
& `/ M6 n* U; z+ K/ Kthe market.
0 X+ c, }4 Z6 i% Q1 e) D, k9 A# j" ~6 s7 P( o+ B5 a
    In Regina, the market experienced a slight seasonal slowdown through! {; i4 U, o+ P6 m
July, as there were fewer purchasers in the market due to summer vacations. In
6 t* f, @% i3 C* z5 h7 aAugust, activity resumed to the busy pace previously seen in the spring
- C) B! Z# ^" ~months, as the influx of purchasers made it more difficult to find a home due5 H& d/ z" l, P1 Z3 Q. j$ q
to the shortage of available inventory.
4 I6 S2 N  b9 ^, B1 F) {1 D0 u( B/ T: G% ^& J+ C3 g6 m
    Activity in Saskatoon remained brisk as the market maintained its1 v! |, w# s" E8 A, x
momentum from the busy spring sales period. The economy in Saskatoon remains
2 d, _" @2 |( m& W. Nvibrant, as employment opportunities are abundant with many businesses+ ~; J2 R* U# p  M  T+ D
struggling to make hires and having to recruit outside the province.3 g, C" Y! Y: n$ X8 s  K( V

0 g  i4 T, `2 D7 S; U/ A2 f    Calgary's housing market recorded blazing average house price increases
% p4 q' {9 [% s( p6 qin the third quarter, in all surveyed categories. The burgeoning economy, low, f# @. e8 k9 n. @
unemployment rates and low inventory levels remained the leading factors that
) k* ~2 ~" v% B7 \8 N' Hpressured Calgary's house prices upwards. However, regardless of the soaring
, _7 J9 `+ w7 Gprices that characterized the market - even during the typically slower summer  f6 t; o$ w! q: \/ y: s* ]( P
season - it is expected that activity will become slightly more balanced, as0 @) `3 `: d9 h# _4 p1 y% Q
buyers are becoming more reluctant to participate in the frenetic activity.
; v0 \8 V: K# E* K8 X" q
* i  L0 w5 |. J' ?1 C+ J
    Edmonton's booming local economy continued to thrive in the third quarter. T& O1 j9 q5 T% c; A& v
as activity in the oil sands north of the city continued to flourish. Edmonton
3 g/ V/ q* h/ F  gremained the hub of activity for those coming to work in the oil industry,
/ G+ k$ w, o. Wmaintaining tight inventory levels across the city, resulting in prices# |8 `& ]/ C3 t1 M
increasing at record levels. However, as inventory levels continued to improve* M  m% ~, S: g4 F/ z7 q: e
in the third quarter the rate of price appreciation should moderate slightly
& C* j% z- j8 O' \0 @, w7 u* itowards the end of 2006.
    + O( k9 v$ \( c$ B2 z/ _' F
( G# K  _. y0 I- @9 F
While Vancouver has seen a slight reprieve from the severe shortage of  H8 B+ T0 Z8 [; x) f
inventory that had previously characterized the market, supply is still unable% z% U2 d$ Q. P( P
to meet demand, driving house prices upwards. Vancouver has a very diverse0 A6 u- a7 Q) t! H7 J: c. }2 c
group of active buyers - from first-time home buyers to baby-boomers to
( d' Z/ @' |! Dforeign investors - all of whom fuel the demand for houses, placing added$ Y% Q$ R) x% J, a, R
pressure on tight inventory levels.! J& v% k. J1 y  _9 \  F# Z
* U9 R. f1 E- V3 \9 S" ?5 ^
    Victoria's market is vibrant and supported by strong economic/ B/ w1 h( i* ]4 Y+ h! W- v: D1 q  O
fundamentals, fuelled by a booming tech sector and a migration of young people
' ^/ G) {) B* Z  w1 Y" Dinto the city that has continued to support the area's house price increases;1 N1 d! Y8 T4 j$ g  ^- F
while increased inventory levels have afforded buyers more time when searching3 Z7 u0 l" ~" S; C  W# Z6 w
for a home, helping to normalize the market's pace.' Z" I, J. P7 U; k6 ]3 }3 m

/ g& w; J; W; \5 X1 @( F' V3 M+ v& }    <<
8 _5 x$ P) _+ v+ G! ~      Survey of Canadian Average House Prices in the Third Quarter 2006
) W+ s$ f1 |' q! {3 F  @9 f! U) y7 n0 Z
    -------------------------------------------------------------------------
) a$ ?2 E. L, o2 J. V& V                 Detached Bungalows                Standard Two Storey
' ]6 e3 j# k4 a+ [& u    -------------------------------------------------------------------------. _" ^! C! }- w4 S+ e) \, L  e
                     2006 Q3     2005 Q3    Bungalow     2006 Q3     2005 Q39 a8 {1 P- ]' Z. c. n3 h
    Market           Average     Average    % Change     Average     Average7 D: l4 T4 K1 S# ?
    -------------------------------------------------------------------------
8 n* \% q* y& H* C2 T    Halifax          186,333     173,333        7.5%     198,667     199,000+ C2 Y% @' w. {" N
    -------------------------------------------------------------------------
0 V# D( m; g6 k# T. J% {6 P# m    Charlottetown    145,000     141,000        2.8%     175,000     170,000
1 S( k! J* _, ~4 e    -------------------------------------------------------------------------
4 Y+ T1 E( W4 B: p  a+ a" o    Moncton          135,000     127,000        6.3%     129,000     123,000
+ P7 @3 C; C7 n  J% Q# K1 |    -------------------------------------------------------------------------' O+ m7 a4 s* q& T% R0 y- U
    Saint John       141,200     142,900       -1.2%           -           -! D  W: L9 V3 o/ c' U% h
    -------------------------------------------------------------------------
  B3 b+ w. t' s" E6 Y5 F8 t& g. S    St. John's       143,667     142,667        0.7%     200,667     202,333' N5 O- ?7 T+ i3 H
    -------------------------------------------------------------------------
+ r% {# P; Z( F/ \* n( _1 M( f    Atlantic         150,240     145,380        3.3%     175,833     173,583& e' Z' c% G0 p" j, K# E
    -------------------------------------------------------------------------
. D# g- S8 @9 j6 J    Montreal         213,691     203,500        5.0%     321,141     316,1856 X% A3 J3 p- w
    -------------------------------------------------------------------------
2 ^+ x. A" Y8 i0 K' @2 n% K    Ottawa           290,083     278,417        4.2%     285,667     273,2502 C8 R  C. k, w0 a7 u  b
    -------------------------------------------------------------------------
* F/ ?$ \) e0 W/ R% c7 Q    Toronto          373,368     355,882        4.9%     481,523     474,766: d& ?" l& X. Q( z; g
    -------------------------------------------------------------------------
' d' s. K& v) R2 `# D    Winnipeg         181,579     159,860       13.6%     202,337     180,707
3 C) r7 b4 T8 r' G$ u' F    -------------------------------------------------------------------------
$ \: T6 I2 D/ q! E5 q# L    Saskatchewan     170,667     156,083        9.3%     182,600     166,500
6 X* j6 G' r  A7 G" y    -------------------------------------------------------------------------
; ~! `8 B/ _) \2 _    Calgary          395,067     252,411       56.5%     405,778     264,389
! _! `& U! M0 f* [    -------------------------------------------------------------------------* Y% V0 L4 I0 J" i( [: M
    Edmonton         286,857     194,857       47.2%     316,429     206,714* O# H6 x7 I( A, [7 \. Z
    -------------------------------------------------------------------------/ W( U7 h$ ^4 X$ \; e, n9 ~# o
    Vancouver        704,250     601,000       17.2%     794,000     697,500( p4 U) J' Q: k4 z% E0 _% u2 [8 E3 v
    -------------------------------------------------------------------------
& x% @! A. B! U' V    Victoria         375,000     348,000        7.8%     403,000     391,000
0 v$ ^2 `% o5 I    -------------------------------------------------------------------------
; h+ \) g: y9 }, s! N    National         300,365     258,202       16.3%     365,380     322,860! {/ M$ m$ b$ q8 \% k
    -------------------------------------------------------------------------5 Z: U8 @, r9 S% u
% i7 l- |) j3 G* }' M% N* ~$ Q# ?
    -------------------------------------------------------------9 K9 j+ |4 H, }' d
                               Standard Condominium
& a: [( }. f' m( n# H4 I    -------------------------------------------------------------
* J/ z* t2 o  l                    2-Storey     2006 Q3     2005 Q3       Condo( l2 e& f: N& t
    Market          % Change     Average     Average    % Change- f% W: O: Q' h1 c0 @
    -------------------------------------------------------------
& U: v* ^  g$ e    Halifax            -0.2%     142,000     103,000       37.9%+ r' |3 N$ M# J" u
    -------------------------------------------------------------4 Q5 z) V/ n$ d: ?
    Charlottetown       2.9%      98,000      98,000        0.0%
) d( [% q1 u: ?& w    -------------------------------------------------------------
' V  x. ?/ x  x9 b8 T5 r    Moncton             4.9%           -           -         N/A8 Y5 W) H, p+ |
    -------------------------------------------------------------1 N: Y6 q' x6 i! P9 j& M- m1 k9 @
    Saint John           N/A           -           -         N/A8 ]. A( S0 Q5 S3 R6 v
    -------------------------------------------------------------
2 N6 b: P+ G4 ~  q7 p: g    St. John's         -0.8%     146,333     145,667        0.5%0 n: Z( K) I# N- \/ m
    -------------------------------------------------------------* N1 f! w% ?$ ~0 T' I1 {5 Y
    Atlantic            1.3%     128,778     115,556       11.4%& E7 M1 R  O. Z4 H0 D+ f6 `7 M. x
    -------------------------------------------------------------3 C! B& o; V/ U' N  v
    Montreal            1.6%     193,190     188,016        2.8%
. s$ B1 Q: |0 I- M$ X9 A    -------------------------------------------------------------9 _6 |6 P4 ]$ d5 W9 Q
    Ottawa              4.5%     181,083     172,250        5.1%4 K9 _  _) Y  Z5 y
    -------------------------------------------------------------9 ^, v5 \0 G$ D2 t. x
    Toronto             1.4%     252,088     242,918        3.8%" L& [3 y- r; Y, k: K- r
    -------------------------------------------------------------
! i8 _: ^) \+ o; L6 ~" D9 L    Winnipeg           12.0%     105,648      96,008       10.0%6 D7 z$ l& L. S( J; a/ N' s
    -------------------------------------------------------------
6 `$ C% ~8 q" ?: S3 j    Saskatchewan        9.7%     106,250     101,000        5.2%& P' d. S! k4 |
    -------------------------------------------------------------
8 i8 T5 y1 ?9 {% V9 I$ S    Calgary            53.5%     245,844     153,867       59.8%
9 P/ f1 w1 g+ a- Y/ j    -------------------------------------------------------------5 c0 ]1 E3 Z$ |, V
    Edmonton           53.1%     200,433     131,500       52.4%
7 J% r4 |  F# l: p4 g% U. Q    -------------------------------------------------------------+ p: @4 v9 \& i* T
    Vancouver          13.8%     366,250     323,250       13.3%
' n3 [0 ^' }  |/ [/ E& J3 `+ L    -------------------------------------------------------------
& G8 a0 M7 |( W2 x& q7 y7 V  E    Victoria            3.1%     229,000     220,000        4.1%, }+ j0 w% \4 ]  C/ V, ?$ D
    -------------------------------------------------------------
: ^- Q/ j2 j/ U' i) I; X! W) o    National           13.2%     211,562     185,296       14.2%
8 ^, m+ S) B6 V% C  r  V" n    -------------------------------------------------------------
  w1 ~) c: N) a' H    >>" \' u" ]1 g" p! \$ x8 x8 i
  U9 A2 [# M. a# z0 @4 T, W9 R# e# `
    Average house prices are based on an average of all sub-markets examined  @% w$ H% l2 E
in the area, except for the smaller markets of Charlottetown, Moncton, Saint- I- t( W; i/ [3 d3 N( S
John and Victoria.# n) |  V2 I& z' x
" \" F' G' p8 k+ D
    The Royal LePage Survey of Canadian House Prices is the largest, most$ U+ D! h9 t* j6 m) @; Z, \4 ~
comprehensive study of its kind in Canada, with information on seven types of$ n0 ?2 X+ t3 J& ?
housing in over 250 neighbourhoods from coast to coast. This release: G6 A0 L+ k9 z; X; E9 K, o
references an abbreviated version of the survey, which highlights house price
! p$ B8 R0 P+ O6 B# Dtrends for the three most common types of housing in Canada in 80 communities! k/ Z! g. ?; }+ @
across the country. A complete database of past and present surveys is7 v/ i4 t8 q1 Q8 b1 R$ |
available on the Royal LePage Web site at www.royallepage.ca, and current
6 U8 H) m- H/ ]! Q; z, E1 k' kfigures will be updated following the end of the third quarter. A printable% {# J" |: o$ D0 h& U; H' {( |
version of the third quarter 2006 survey will be available online on
7 c/ R  D* G( C0 h8 Q- s( n7 g" xNovember 15, 2006.- V% I& `& F, q: u
    Housing values in the Royal LePage Survey are Royal LePage opinions of
2 y# E( [" t( I2 y, \4 ?; G4 hfair market value in each location, based on local data and market knowledge
, d1 Q1 T6 m1 K9 gprovided by Royal LePage residential real estate experts. Historical data is
$ [8 H" V5 L) w7 o0 s$ Navailable for some areas back to the early 1970s.
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