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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 ( _8 v, f! G1 r

  u% _. L  G5 @6 R( u/ y% Y! w- Country's market poised to show growth throughout 2006 -
- n1 e6 R& A; R# W( h
+ X4 G9 l2 \; s- q$ N# \! p- Z    TORONTO, Sept. 28 /CNW/ - For most of Canada, the housing market0 ]. d" n+ L: l; N0 c
exhibited moderate price increases and stable unit sales during the third
4 K' G' S. k; h" p5 _quarter. Wide regional variances continued to be the dominant characteristic# U) ?- y" U$ |3 ~1 C
in the market, exemplified by frenzied levels of activity and double digit( B: A& G. K0 [* ]
price gains observed in the energy and commodity rich Western provinces, and/ x3 ~# K4 x* p" V6 ^
more reasonable sales volumes and moderate price appreciation in Ontario," ]/ c' K: m/ y; ?/ O
Quebec and Atlantic Canada, according to a report released today by Royal4 ^2 \( n3 p0 S( `: f& q5 @0 f
LePage Real Estate Services.$ n2 [2 e2 ^, K

5 H, [; m0 e" b2 M    Nationally, market trends established through the first three quarters
, E/ w8 p& j. t8 o2 k& yare forecast to continue for the remainder of the year. Robust economic" o, }: k% e: f; T0 r7 v
conditions, low unemployment rates, modestly growing salaries and wages, and
( q0 c- s7 K) V! j, N. Usound consumer confidence contributed to the overall strength of the" L# N( o. E. }9 G
residential real estate sector.# G! G8 R5 B# m# J4 q
: G/ m3 b+ W$ c0 o. N; B
    Of the housing types surveyed, the highest average price appreciation
9 U$ h7 O% @) |9 B3 loccurred in detached bungalows, which rose to $300,365 (+16.3%)+ e, L# l! G4 F( _/ K
year-over-year, followed by standard condominiums, which rose to $211,562
0 Z; S, f; f* ~; @(+14.2%), and standard two-storey properties, which increased to $365,380
  n2 z. Y; R# N) Z% l(+13.2%).
0 Z- k+ Q% v" j1 W4 `9 I9 B5 R! N1 R9 j) W0 |& }
    "Canada's sturdy housing market continued to demonstrate steady growth
7 T* @  S) a: t$ Qduring the third quarter. For all but the west, we have moved on from the7 D3 H( k! [0 a. t9 i
frenzied expansion that characterized the first half of this decade, and are
* U( n: }+ y: Z! Tpoised to show continued growth at a more moderate pace," said Phil Soper,
8 r2 p( T* ?6 R: Y+ S! b* Zpresident and chief executive officer, Royal LePage Real Estate Services.
4 {& `- f3 w% f5 G: {9 g' ?6 `"Gone is the sellers' market that we have lived with for some years. We
+ R, F  B$ c0 q+ q! c9 vwelcome the more reliable conditions that are characteristic of a healthy2 c. ?) P/ ~: R" k4 w( k% z7 a/ p
balanced market."
/ S8 m, b* J6 H* l, M' b$ F& G) Q. Y5 J$ m) J% k
    Despite the double-digit rise in average national house prices,
# ?2 w  [# \2 iconsiderable regional variances were exhibited again this quarter. The shift1 S! ^. u( m' s' C4 D1 T: E9 G
to balanced market conditions, which began in late 2005, has continued+ u7 u0 ?4 ^0 E( H
throughout most of the Central and Eastern regions of the country. In the core& E2 V) M+ Y$ O+ W+ d  D7 Q
energy producing western provinces, the combination of very high in-migration,
+ V, O# L* v' L7 X" k  k+ Umanageable affordability, and a shortage of inventory has driven record# v( p6 d; U# |& O# `" o1 V
breaking price appreciations.
( u3 w6 Z, i. r( H" v" ~- ~7 a' ]' ?# l( N- y
    Echoing the second quarter and supported by Alberta's rapidly expanding9 P9 e! H$ B8 x, J3 d* n+ k
economy, Calgary and Edmonton led the charge of Canadian cities with the/ {% t+ e, R) g( f# N
largest house price appreciation in all housing types surveyed.: Z1 {5 ]. @9 J; P) w% ~) a

- U% S' p8 p( c' n+ h( i    In Ottawa and Toronto, growth remained steady, supported by solid
6 |; u# M; [: b( deconomic fundamentals, an increase in available inventory and strong consumer
1 W7 C. B$ B0 i* w* kconfidence. While the pace of price appreciation in Ontario leveled off% R! I* E5 K7 p4 n) o
slightly, the province's real estate market remains poised for modest growth.; \, \1 Z1 b3 N' D
In Atlantic Canada, new housing and condominium construction offered buyers! T9 D' R- W5 a
greater selection at more competitive prices, resulting in a slower rate of
  }/ a5 k  e& B1 jprice appreciation when compared with 2005.
3 q* a9 I0 B0 V6 y, }! h  i' Q1 y
    While the pace of growth in Canada has slowed, the domestic housing
* C, j' D0 [+ s  Q/ u' c5 _market is expected to outperform the American market. The economic and
: A8 o/ \) t  T! J5 g2 ]8 l7 u* yfinancial fundamentals driving the residential real estate sector in Canada5 a4 [* \. I1 i5 w; ?4 t* T/ W+ A
are markedly different than those found in the United States.
) ]( J5 w7 Z2 [- J. i4 n# V8 b- x8 U3 H
    Added Soper: "Canada's housing market is likely to outperform the
5 i; C8 x* K  y% kAmerican market through 2007. A number of factors are working in Canada's5 v9 L; A) y! z: S5 M
favour, including healthy personal and governmental debt levels, the
; D% M: o2 Z2 J4 Irelatively modest rise in interest rates in our country, and general9 y6 [3 t1 ^$ H* d/ y0 ^& G2 L
affordability in our major cities. In addition, Americans are now seeing the+ B, ~9 \1 {8 U5 n$ j1 M$ J
downside of a tax system that encourages maximum homeowner leverage, and7 [8 t- x# _: ~' `6 ?2 M% N
aggressive financial products such as zero- and negative-amortization
9 {( u: Y& b2 _" jmortgages that work only in a high price growth environment."& }- l* @7 l! T7 ~: D) S
7 ]# r4 X3 i$ |% T
    <<* w' e- A' H+ g+ S7 m* ?4 v
                             REGIONAL SUMMARIES
4 n3 v, R2 |7 s7 F; S: q    >>6 l# u. [' R: V1 u6 x  h3 h' w% s
* Z5 [5 |7 Z" x" I) ?- P0 u, l5 M- X( C
    Balanced conditions continued to characterize the housing market in
; c: |- }) ?6 T: H5 q4 h' [Halifax, as significantly higher inventory levels helped to moderate the rate
* ^& [) E  d' Z4 E2 [of price appreciation. Buyers were increasingly choosy, taking more time$ ]' \: U/ X9 `4 G. r0 ]+ E
looking for newer, low-maintenance properties that were not in need of0 X7 ~, }6 C5 e7 g) B* c/ `) s% e: h
renovations.' P+ @% ?9 j8 H; s2 ]
( d+ I+ q4 h' ^& ~, X' W# E" r
    The housing market in Moncton remained healthy and strong as a slight
4 h$ B6 w6 R4 I4 Uincrease in inventory helped to moderate the rate of price appreciation
; N- @! d- w1 ~$ J/ [compared to the same period in 2005. Activity was brisk throughout August and0 K3 n( P- L; y6 ~9 K. w4 g4 v' [
September and is expected to remain this way through the fourth quarter.
+ r& B/ E* W/ q
7 O% b3 B* y3 r/ ^    The housing market in Saint John underwent its traditional summer5 M! l) Z+ i; X- T6 a+ q
slowdown in the third quarter, with activity picking up towards the end of the
8 o7 ^% e5 ~) x4 Zquarter. The local economy continued to thrive, as construction on a new
. Q  q, H  z3 J  }: }600,000 square-foot shopping area has begun, bringing several new box stores5 A- Z8 |0 U! G6 s
to the area. Buyers have begun seeking less expensive fixtures for their homes6 O+ z! S: I5 E7 a7 e1 i8 R
and are instead opting for more affordable housing options.
& f: y+ v+ N  O9 \  y0 Q2 y( }. k& v, W' `" a5 |# r/ P. E; b
    In Charlottetown, the housing market started to move towards balanced
. B% G) e: h% a+ H7 Aconditions, as some sellers had to begin to lower the asking prices on their+ r1 u1 T! \* {' U- F6 z2 y) E1 d
homes to make them more competitive. Activity from out-of-town and US buyers! t+ ~: L3 R/ ~, b" T
was down slightly compared to 2005, likely attributable to the strong Canadian
! E$ c0 H$ l1 O6 f! cdollar. Inventory levels began to creep up in the third quarter, providing
! B# m3 z8 M4 g+ }buyers with more options when looking for a home.3 L  q$ M4 M7 G& U
8 v0 v! U7 C8 _' B
    Activity in St. John's slowed slightly in the third quarter, particularly- ^' v& n6 @% I5 o" I# |
among higher-priced properties, where there was a slight over-supply of homes5 }( v2 O/ I% \0 i4 R% |6 u  V0 W
priced over $200,000. Listing periods have increased when compared with 2005,
8 s; i& D. ^- Z8 k( l4 cas some of the pent-up demand that had characterized the market over the last# Q/ S; j/ u; O' D9 U2 k: ]0 U
few years has been satisfied, resulting in more normal, balanced conditions.; _8 {3 k3 k& a3 c9 c/ I

' T2 h  j' T# y    Montreal's housing market recorded modest increases in average house$ G6 V' |: v; e% R+ B
prices, due to a slight seasonal slowdown in the third quarter as inventory
7 d% R' S9 q# olevels rose. Part of this can be attributed to the fact that many renting5 P  p3 ]+ ]4 V3 O, S
first-time buyers were motivated to close on the purchase of a home by July 1,  h: d, ]( [. x- X2 r8 b0 n
when rental leases expire in Quebec. Once this date has passed some of the* a2 _" I8 P& F6 E, F
pressure is taken off the market, allowing buyers to visit more homes before/ ]! F2 v; m& }
making a purchase.$ J( c/ n" W7 p: M8 V

; [* A" Y9 V+ d. j. d# u- p    Ottawa held its position as one of the country's most stable housing
& K( v* o4 i4 I! ], v3 O) `markets in the third quarter, reinforced by a vibrant local economy and strong
% ]2 ^* `3 s! ?6 X6 \/ ~* `confidence, resulting in modest increases in average house prices. The city
. s' e! Y7 v" ]+ a! p1 fcentre remained a bright spot in Ottawa, with homes in this area attracting
2 m) L  l; D. |/ p5 wattention due to their convenient location and proximity to downtown6 v! e) t# H/ ^1 k6 M
amenities.
. i4 T/ y5 A9 j1 {- B5 \5 C& V  @$ o. A8 L7 Z
    The housing market in Toronto sustained healthy activity levels# y( W2 m$ {7 }* Y; x0 H5 q0 M
throughout the third quarter, as a strong economy helped to maintain demand
# B" V/ ^# T) R/ t% _! \# Xacross the city, causing average house prices to rise moderately. Toronto has8 z2 Q! \, b2 F  u* |" Q
continued to experience modest growth in average house prices, and has been5 F+ i4 P  n' r
driven primarily by purchasers who are buying homes as their principle% l  ?$ m$ a0 d! r# Z3 v9 H
residence, rather than for investment.
: n' _, J, d4 p5 K7 e/ l% n; L* ]; o( [: d! s; H
    The vibrant Winnipeg housing market continued to show its strength as3 ~$ F& B7 K* M8 T5 C5 `
house prices rose during the third quarter. The booming local economy resulted3 b' K9 m$ Q/ o$ X
in a historically low unemployment rate, helping to bolster consumer' K+ [& j) V- u3 L7 {3 Q, e
confidence and Winnipeg's ranking as the city with the lowest capitalization  F; e. G3 ]; ]( N
rate among the country's larger cities - helped to encourage buyers to enter# m: f$ K$ y0 f. B( B. _' H
the market.
/ T/ J0 }4 C4 {  {" p
# j4 T; q) O* o# Y( v& {    In Regina, the market experienced a slight seasonal slowdown through
. Y7 x1 \# x& r' ?& I9 w& sJuly, as there were fewer purchasers in the market due to summer vacations. In
- J$ O1 p  [4 L0 }) @+ EAugust, activity resumed to the busy pace previously seen in the spring% R1 k+ P  Y$ S5 M; ?" v" [/ q8 u8 r
months, as the influx of purchasers made it more difficult to find a home due
7 F5 t+ C4 w6 P; Nto the shortage of available inventory.
3 W* L' R) Z1 H& d! v- H7 h. a; q$ Y# ^, c$ L/ {/ T
    Activity in Saskatoon remained brisk as the market maintained its
1 c* y) _( I4 `# Lmomentum from the busy spring sales period. The economy in Saskatoon remains
, u8 N' e( V* r4 D- avibrant, as employment opportunities are abundant with many businesses
9 P7 [+ |& K/ m: ?$ ustruggling to make hires and having to recruit outside the province.: {. ]( ]& ^5 s2 [9 T: L' I; }

+ {. W& j) B( R, K    Calgary's housing market recorded blazing average house price increases5 y7 y# D* `* `% H% E
in the third quarter, in all surveyed categories. The burgeoning economy, low4 v9 C* `. W' R
unemployment rates and low inventory levels remained the leading factors that
! K+ g4 U: ~5 C( D' T$ Bpressured Calgary's house prices upwards. However, regardless of the soaring5 `+ |* Z; `+ J4 Z
prices that characterized the market - even during the typically slower summer
3 z5 x( M! M+ r; J) }- Qseason - it is expected that activity will become slightly more balanced, as* h6 Y. \$ ]; q& s
buyers are becoming more reluctant to participate in the frenetic activity.
( F+ S$ J# v1 x* `( M! A

% {0 G8 Z7 `- Q) \    Edmonton's booming local economy continued to thrive in the third quarter4 A1 E! z5 R! R! Q1 u$ Q5 A
as activity in the oil sands north of the city continued to flourish. Edmonton* X: N4 W$ X+ w8 p5 c( z1 j9 \
remained the hub of activity for those coming to work in the oil industry,( X8 D$ V, r- s; F0 o, F! J/ U$ k
maintaining tight inventory levels across the city, resulting in prices% b7 q5 u2 f5 N( k
increasing at record levels. However, as inventory levels continued to improve
6 \3 w- _& C" e( e( Vin the third quarter the rate of price appreciation should moderate slightly
4 n% O  p% e0 e4 dtowards the end of 2006.
    2 B! T% N  ~7 S5 |
# R1 {; }- U( l, d5 e0 W5 ^  ]
While Vancouver has seen a slight reprieve from the severe shortage of1 w" |7 \% A) {6 c! G
inventory that had previously characterized the market, supply is still unable
( l( M( T' N3 [, H9 g, sto meet demand, driving house prices upwards. Vancouver has a very diverse  M# {. Z+ N) N: Q0 O
group of active buyers - from first-time home buyers to baby-boomers to
& f- [6 m* U6 q$ F( n1 n6 |  n! Mforeign investors - all of whom fuel the demand for houses, placing added
: p8 l5 N1 R; |" K- v. y( F% \  cpressure on tight inventory levels.- f* |; p+ V$ W) k$ J

8 N/ n( I2 [- Q- \" @+ H    Victoria's market is vibrant and supported by strong economic
: v& B+ c- Z# O, m: j/ L0 w3 Q: Mfundamentals, fuelled by a booming tech sector and a migration of young people3 ^5 [8 _8 O' z
into the city that has continued to support the area's house price increases;
& [4 A# w4 U# d& Xwhile increased inventory levels have afforded buyers more time when searching4 D& i) q+ }0 p  A! M8 Z
for a home, helping to normalize the market's pace.8 |, V. |' F2 w5 }5 d

; b! U/ |* ]3 a! {* _5 Z$ A( W    <<
/ L5 v* l9 P) A) o% ?7 z      Survey of Canadian Average House Prices in the Third Quarter 20060 ?+ k0 R2 V; e. g

) m& @% x7 j  E  r5 O    -------------------------------------------------------------------------2 C' [( `' r/ C8 P* ^+ j# G
                 Detached Bungalows                Standard Two Storey+ @: R5 g* q8 a- ^# t& @+ R+ D# j3 O
    -------------------------------------------------------------------------
7 V; t7 }  r+ p3 I                     2006 Q3     2005 Q3    Bungalow     2006 Q3     2005 Q3) L7 l+ p8 s9 {+ ^: x* W  n5 l
    Market           Average     Average    % Change     Average     Average1 i$ q$ t3 p3 U; e' W/ d- h
    -------------------------------------------------------------------------# l5 p2 `- F7 g. I) x! }
    Halifax          186,333     173,333        7.5%     198,667     199,000
1 v  f, |# p$ Z' G* ?* `3 R( t& \5 ?    -------------------------------------------------------------------------
- \% w0 k' _: X4 E7 }1 F0 w# V# ?    Charlottetown    145,000     141,000        2.8%     175,000     170,0003 w( [  N$ q" ^
    -------------------------------------------------------------------------# P- f7 j- U+ G- b, J/ Y3 Z) w5 T  L' _) ~
    Moncton          135,000     127,000        6.3%     129,000     123,000
3 B8 N8 q8 |4 [1 P! ~2 R- t    -------------------------------------------------------------------------* ?/ x' S- H5 b& Q
    Saint John       141,200     142,900       -1.2%           -           -
# H/ H6 c- D- K7 v    -------------------------------------------------------------------------
8 }$ M5 H. n" D. I    St. John's       143,667     142,667        0.7%     200,667     202,333
% B; O* g5 f2 u% J7 c    -------------------------------------------------------------------------( e. E8 H  U+ r8 a9 L
    Atlantic         150,240     145,380        3.3%     175,833     173,583- R8 D3 Z: o- F1 F
    -------------------------------------------------------------------------
* h9 v8 d' w1 ]( s1 a- @; y    Montreal         213,691     203,500        5.0%     321,141     316,1856 a# h. q! _4 {, d8 }( w: ]
    -------------------------------------------------------------------------
. n0 k4 v7 x6 }$ _: w1 V0 w    Ottawa           290,083     278,417        4.2%     285,667     273,250) P: B6 F3 N5 ?: l
    -------------------------------------------------------------------------1 P5 V5 [. e, y
    Toronto          373,368     355,882        4.9%     481,523     474,766
/ j& Y" `+ C! D! u2 `1 w/ _    -------------------------------------------------------------------------
: R9 y9 v1 s2 I2 \. P; H    Winnipeg         181,579     159,860       13.6%     202,337     180,7072 g+ N2 T8 y% s3 g3 K
    -------------------------------------------------------------------------8 a/ ~3 K/ G' H, q, T" P
    Saskatchewan     170,667     156,083        9.3%     182,600     166,500
+ G) Q. f0 x1 T# }3 n    -------------------------------------------------------------------------: p, r4 Q9 l; n4 u: Z- N
    Calgary          395,067     252,411       56.5%     405,778     264,389
( ^+ g3 B  O; J" H. a    -------------------------------------------------------------------------
, J( s( k/ b* i) _+ g/ U9 ~7 a; C    Edmonton         286,857     194,857       47.2%     316,429     206,714
1 p& D4 b9 \$ M+ }    -------------------------------------------------------------------------
( \, l0 y/ `* g4 C# V, Q; P3 D9 P( U    Vancouver        704,250     601,000       17.2%     794,000     697,500( ?( J5 R1 h4 C* L8 V0 t9 n
    -------------------------------------------------------------------------
' k! c2 A) [# H5 Q) P- f% {3 E. b. |    Victoria         375,000     348,000        7.8%     403,000     391,000
6 v! i+ u' m/ n4 b    -------------------------------------------------------------------------$ z+ Z( j9 U% M* y( {! B
    National         300,365     258,202       16.3%     365,380     322,860
3 _) @7 q: u; A- `5 \$ ?; _    -------------------------------------------------------------------------
* A2 ^! [, l1 B( w# X9 T/ z9 @0 N1 |1 t: w, p7 ?6 Z
    -------------------------------------------------------------
# d9 ~- _0 D5 U& R4 N( J% J                               Standard Condominium+ j1 b0 a) m+ J' G% E- v+ E
    -------------------------------------------------------------8 n6 O( ~2 m. K% r
                    2-Storey     2006 Q3     2005 Q3       Condo9 N% `0 C& H. ?' ]! v4 E# [
    Market          % Change     Average     Average    % Change; u  R8 K5 p+ G( R
    -------------------------------------------------------------
! c  w& E1 I1 u+ Z8 c0 N" u    Halifax            -0.2%     142,000     103,000       37.9%
! ?3 V  |0 [5 a7 K3 v8 g1 O3 N    -------------------------------------------------------------* y- ]# n+ H* p
    Charlottetown       2.9%      98,000      98,000        0.0%
" y6 k- C0 W6 B/ R    -------------------------------------------------------------
8 r4 ^* ]/ ~' y6 y( B9 V) v; ~* s    Moncton             4.9%           -           -         N/A( W$ @/ E% [; d4 I- V. W
    -------------------------------------------------------------- K& C* ?% V2 x; T# t  _
    Saint John           N/A           -           -         N/A5 q2 V* w* P; K- y
    -------------------------------------------------------------% g6 G; o  ^" y" a/ y7 c+ b3 _7 d
    St. John's         -0.8%     146,333     145,667        0.5%) p% o1 ]6 F$ n+ e5 x# V8 @, G, E4 k/ O
    -------------------------------------------------------------* O) b* `: P5 q/ X
    Atlantic            1.3%     128,778     115,556       11.4%
6 B* h( |# c5 U$ R  a- L, V    -------------------------------------------------------------. F4 a  p- h+ Z3 p# W5 b7 }& n. [
    Montreal            1.6%     193,190     188,016        2.8%: D/ r2 F' M" M4 d) w. J  V: P7 M% W
    -------------------------------------------------------------9 h4 y: W! d( D6 O) C$ `. {- L
    Ottawa              4.5%     181,083     172,250        5.1%
& c) @! W) `. G8 _! C# v    -------------------------------------------------------------
1 ?% `5 a0 b- d    Toronto             1.4%     252,088     242,918        3.8%
, G  T  `7 s" h" N; W    -------------------------------------------------------------
$ s2 z6 |$ }0 A4 l/ W    Winnipeg           12.0%     105,648      96,008       10.0%
1 O: A" g  ^8 O7 I; j    -------------------------------------------------------------! _/ Y) u* B+ k5 Q' s) t3 I) Y9 L  t5 n
    Saskatchewan        9.7%     106,250     101,000        5.2%
9 y' A) n, X9 g, {+ i    -------------------------------------------------------------! t5 Z- T' |, L$ ^; Y
    Calgary            53.5%     245,844     153,867       59.8%
0 A* A+ B  L. t8 O" S9 [- o9 f4 i    -------------------------------------------------------------
3 e( g, K; L: ~6 x2 l5 m- @8 B    Edmonton           53.1%     200,433     131,500       52.4%4 z- y' K- W, d+ M* g' o' q6 |+ `
    -------------------------------------------------------------; a4 u; c: o" ~% D  R
    Vancouver          13.8%     366,250     323,250       13.3%# Z! J/ a- ^* B9 A: ^( p/ [, z
    -------------------------------------------------------------
8 Y2 ^; Q* }, c. A0 [! j) e    Victoria            3.1%     229,000     220,000        4.1%3 d  m" z" R' j. W% k
    -------------------------------------------------------------+ W: e0 r. j' m; E; `1 n5 J
    National           13.2%     211,562     185,296       14.2%6 R# V$ ?! b; ?; C! w" v& V
    -------------------------------------------------------------
& _$ N, c% b, w( K& a    >>
* y+ u, H% S6 E) `% {3 l9 S& {: K3 F! V! t- ~
    Average house prices are based on an average of all sub-markets examined
# k0 W' @$ V2 M+ w9 \$ D8 I3 vin the area, except for the smaller markets of Charlottetown, Moncton, Saint
7 R7 C; R4 Q- R9 u$ ~' pJohn and Victoria.% T; O5 D+ {% k+ V  V3 m1 F

& E4 j  D2 z6 C" _2 n! _7 e0 D    The Royal LePage Survey of Canadian House Prices is the largest, most
3 ^/ w6 l0 @* C& P6 S% p: scomprehensive study of its kind in Canada, with information on seven types of
. g- k2 c0 h- z' t' T3 [8 Y9 ^, B! Ihousing in over 250 neighbourhoods from coast to coast. This release6 g/ L/ O- S& d9 J4 [
references an abbreviated version of the survey, which highlights house price
, Z6 u( w+ A& J& z4 O9 e7 vtrends for the three most common types of housing in Canada in 80 communities, U* W$ R4 \! R
across the country. A complete database of past and present surveys is. C) Q) [( p" B" c: p2 `. R
available on the Royal LePage Web site at www.royallepage.ca, and current
6 T* K3 e$ |3 o% Z9 ~0 V8 {figures will be updated following the end of the third quarter. A printable
* J6 u2 t4 a" ]# R( j0 p* zversion of the third quarter 2006 survey will be available online on
6 y# t; z3 s7 ]. [$ `1 jNovember 15, 2006.
  @- I3 b/ O5 z7 C/ v, a$ h( {    Housing values in the Royal LePage Survey are Royal LePage opinions of8 {0 Y3 @' i; Y; `
fair market value in each location, based on local data and market knowledge
! z% F* r( d. t" \0 m" F8 ]9 _provided by Royal LePage residential real estate experts. Historical data is
; \. W- Z( J/ `. ^5 Tavailable for some areas back to the early 1970s.
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