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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 : m2 f: q* B8 ?* K  r- {

; c' j! c7 o6 p, \7 l- Country's market poised to show growth throughout 2006 -: R" @7 w# V' e. K1 ^& z6 s* }
! k4 ?+ j1 k1 ~, i9 k8 e4 R2 X* c
    TORONTO, Sept. 28 /CNW/ - For most of Canada, the housing market
7 Z" n7 d5 ~5 M3 ~exhibited moderate price increases and stable unit sales during the third
6 t$ M5 ?& A9 e% f# q& Jquarter. Wide regional variances continued to be the dominant characteristic
' |" T3 s- X7 h4 y. T/ I! Vin the market, exemplified by frenzied levels of activity and double digit% g; R0 U2 _$ M* q. G. M" f
price gains observed in the energy and commodity rich Western provinces, and
+ L# a) f* A4 {7 N( Mmore reasonable sales volumes and moderate price appreciation in Ontario,
* B1 y1 r6 p8 z; i  gQuebec and Atlantic Canada, according to a report released today by Royal
" ]4 S% p' _% e8 G7 m& f( J9 ?, X' RLePage Real Estate Services.+ R  U8 v# D+ Q2 e

6 |+ L3 }' W6 k: D9 T+ G! @: O% ?    Nationally, market trends established through the first three quarters3 m: c# U. Q1 Z' `
are forecast to continue for the remainder of the year. Robust economic2 y6 v- a# _. w! D
conditions, low unemployment rates, modestly growing salaries and wages, and
5 B$ l* R1 f# R0 U1 [3 C: esound consumer confidence contributed to the overall strength of the
! ?) m% N' V8 e0 w$ _residential real estate sector.4 v- \. ?# \- E, q. K% _3 \

8 P( m, h$ v" y: C3 n    Of the housing types surveyed, the highest average price appreciation& V# b# H9 V6 m+ K$ [' F
occurred in detached bungalows, which rose to $300,365 (+16.3%)
, a$ R! C" d6 F% ~year-over-year, followed by standard condominiums, which rose to $211,562  w9 E( V7 Q! V5 i& _
(+14.2%), and standard two-storey properties, which increased to $365,380) Y: x9 T3 [8 C( {( }- f
(+13.2%).' |5 f0 a) [6 x7 }

5 u; g, \! j4 _1 N" f( i    "Canada's sturdy housing market continued to demonstrate steady growth
/ s, u" ^( u! f8 Xduring the third quarter. For all but the west, we have moved on from the1 J2 u* b; @: y( I  r4 o. V
frenzied expansion that characterized the first half of this decade, and are
. j0 F' D( {: |poised to show continued growth at a more moderate pace," said Phil Soper,: W% D7 E$ m! S6 m+ Y! L
president and chief executive officer, Royal LePage Real Estate Services.4 |( f) w( o- Y  x4 N% b
"Gone is the sellers' market that we have lived with for some years. We
: l9 b( b, w* p+ i: D4 g, mwelcome the more reliable conditions that are characteristic of a healthy, _9 i- Q2 N2 C
balanced market.") W; T2 P6 f; q; n) d4 S/ P

+ F% G2 N. `/ c* {    Despite the double-digit rise in average national house prices,
) m, v+ l% f/ D5 econsiderable regional variances were exhibited again this quarter. The shift) a. b0 @8 M, P9 e6 C! Y
to balanced market conditions, which began in late 2005, has continued
! w9 i' R* [  k; ?5 x; Cthroughout most of the Central and Eastern regions of the country. In the core" z: g0 s. {& ]" t
energy producing western provinces, the combination of very high in-migration,1 A" f. G* E# }- Y6 s
manageable affordability, and a shortage of inventory has driven record
- q' l& Y7 \7 a) mbreaking price appreciations.
" e( G  o$ d8 z9 O- }* {* c7 x) c5 E) ]
+ @4 b( V  `- j/ E6 v    Echoing the second quarter and supported by Alberta's rapidly expanding! i) j2 o% J+ M0 I7 ~1 J1 k
economy, Calgary and Edmonton led the charge of Canadian cities with the
4 p+ d/ K  r& H7 x6 K5 X$ jlargest house price appreciation in all housing types surveyed., n4 ^/ d' g1 I. d) N% X4 S2 X
4 m& v% h0 _  G# L8 i
    In Ottawa and Toronto, growth remained steady, supported by solid9 Y- {6 r. [! v2 U! T3 n* W, u0 Q- p
economic fundamentals, an increase in available inventory and strong consumer. p: Q5 K* B! L, l7 }
confidence. While the pace of price appreciation in Ontario leveled off
9 O2 A  U/ a1 N9 m. c; B6 g! Uslightly, the province's real estate market remains poised for modest growth.
& i/ o% ~3 F; y4 BIn Atlantic Canada, new housing and condominium construction offered buyers; k, N/ |- G" g5 I" T2 }3 Y
greater selection at more competitive prices, resulting in a slower rate of& g% {. W( M9 q% F
price appreciation when compared with 2005.; H/ w) m, Z9 F: x1 |' g, q4 n
. Q% {* n$ S6 W+ X; k
    While the pace of growth in Canada has slowed, the domestic housing
- e1 W% p* g, Z! ?2 `. A! wmarket is expected to outperform the American market. The economic and
" r/ r' Y" y4 P' [; bfinancial fundamentals driving the residential real estate sector in Canada, {1 [- r4 ]' [3 `4 Z
are markedly different than those found in the United States.7 p# z. _& Y& _6 Z& X# q  R7 ^

/ S; t7 R; v4 Z, u$ I    Added Soper: "Canada's housing market is likely to outperform the
! r4 }' a# r) p9 j. vAmerican market through 2007. A number of factors are working in Canada's
0 t5 N7 q$ P9 z( ^; l+ Z( e& yfavour, including healthy personal and governmental debt levels, the
+ z& B. z5 q" Z/ T( Y. `relatively modest rise in interest rates in our country, and general  B. H1 H, t. `: o$ E
affordability in our major cities. In addition, Americans are now seeing the. m& p! Y. w( k0 ~  V
downside of a tax system that encourages maximum homeowner leverage, and8 L7 e4 A9 l- [" k) b
aggressive financial products such as zero- and negative-amortization( \& C! z5 V* Y' L9 [' Z
mortgages that work only in a high price growth environment."# a0 G$ Q  l$ ^) O* g9 j

! S: @1 y- p: ~: p3 j( H3 Q    <<6 ?# T  n- W# @" _$ Q7 S
                             REGIONAL SUMMARIES6 J' L; n3 {* z8 b8 V* E& Q
    >>8 i$ x# G9 l! v  Q: R

8 a: v: V7 ^! j" `    Balanced conditions continued to characterize the housing market in
9 R0 z; M: d# l* `, THalifax, as significantly higher inventory levels helped to moderate the rate
8 f( p/ I" ^6 ]9 Dof price appreciation. Buyers were increasingly choosy, taking more time$ R  _$ j, h5 o. ~  s5 a1 w6 s/ Y
looking for newer, low-maintenance properties that were not in need of+ V! L# _/ L3 ~4 d+ e1 w  |* b
renovations.
( k0 X( \. L1 c* J6 F: d3 J- R5 I. a! V. k) z
    The housing market in Moncton remained healthy and strong as a slight
0 H) [) c8 M! l( wincrease in inventory helped to moderate the rate of price appreciation; a( U- Y! U6 f) l+ k" ]2 h& ]
compared to the same period in 2005. Activity was brisk throughout August and
# m9 w; G/ E: d4 E( f) _1 n3 VSeptember and is expected to remain this way through the fourth quarter.
% j; n) q3 b( T6 `8 N
2 n: l" c, h: @! O3 n    The housing market in Saint John underwent its traditional summer
3 A' r+ J7 [' i: ^1 S. f4 Eslowdown in the third quarter, with activity picking up towards the end of the
# |7 q* j+ P' U  I4 N. o: [quarter. The local economy continued to thrive, as construction on a new
1 S' O& l: Q8 m; X600,000 square-foot shopping area has begun, bringing several new box stores" m3 j' o9 u$ `" t
to the area. Buyers have begun seeking less expensive fixtures for their homes3 O+ E4 V: T, f: @
and are instead opting for more affordable housing options.. n. p" D0 r5 k* N# h! I& A' B; ?; `
4 X4 y# q  L' r1 r2 S2 T
    In Charlottetown, the housing market started to move towards balanced
$ i6 ^- g. G. k) b+ g8 Lconditions, as some sellers had to begin to lower the asking prices on their
. B8 H( s7 x4 D/ r0 l, `( D/ f2 @! ihomes to make them more competitive. Activity from out-of-town and US buyers# u+ I1 `* @3 s7 X
was down slightly compared to 2005, likely attributable to the strong Canadian
/ |5 r6 Y5 \  Fdollar. Inventory levels began to creep up in the third quarter, providing' l2 u# Q. o1 W* y* a$ x* S
buyers with more options when looking for a home.4 ^+ X% P- {1 h! e1 A

: Y5 ^, g! T6 s+ r    Activity in St. John's slowed slightly in the third quarter, particularly3 f  y6 {1 Q6 F+ Q
among higher-priced properties, where there was a slight over-supply of homes
$ f1 ?3 A, g1 E' Y! Opriced over $200,000. Listing periods have increased when compared with 2005,
/ M$ W% t  ?$ r: w5 fas some of the pent-up demand that had characterized the market over the last5 x: V, s2 m. }$ J) G. x2 h
few years has been satisfied, resulting in more normal, balanced conditions.6 R6 r+ K/ b1 u9 t! p5 }3 F1 V" O

  C& w' O* e- I9 O  [    Montreal's housing market recorded modest increases in average house; U! S, i' {' E3 F. ~
prices, due to a slight seasonal slowdown in the third quarter as inventory
% {! d. I  w, H$ G' R+ zlevels rose. Part of this can be attributed to the fact that many renting
) u- h  L: j- X+ Y0 M) F. nfirst-time buyers were motivated to close on the purchase of a home by July 1,% ~9 O1 r  K  C2 y! A
when rental leases expire in Quebec. Once this date has passed some of the
& r' W, \' l1 J/ K! [8 Ipressure is taken off the market, allowing buyers to visit more homes before- r# M# w( L. o3 I4 b; B! e
making a purchase.
; d+ r  q8 f) Q( A" J' ~" X" |; z3 Z; y. Q# }
    Ottawa held its position as one of the country's most stable housing) W8 A  y2 Z$ w2 K  ?6 v7 s0 z: w: m
markets in the third quarter, reinforced by a vibrant local economy and strong
" Y3 w) l5 p1 G2 j; t1 oconfidence, resulting in modest increases in average house prices. The city, n9 V$ S8 e( K! i( g
centre remained a bright spot in Ottawa, with homes in this area attracting0 K! z2 S! B2 g" t4 g! _  C
attention due to their convenient location and proximity to downtown. r2 s6 E- a+ z6 y* a# v
amenities.
! D+ D5 @- z& b& M$ u! y; w  w" }' f& O& ?; q/ K
    The housing market in Toronto sustained healthy activity levels
5 [6 Y5 ]8 g" i2 N  dthroughout the third quarter, as a strong economy helped to maintain demand
6 a7 N) t7 w  u. V5 l! Pacross the city, causing average house prices to rise moderately. Toronto has
" o& |: Q3 F! s  E2 e; V- `continued to experience modest growth in average house prices, and has been! H8 q0 a1 F/ j6 b+ C9 q! B
driven primarily by purchasers who are buying homes as their principle# {3 H$ F& ]* N& t
residence, rather than for investment.
8 ~0 m" {; P2 N3 x) \
* c" x2 ~5 K+ ?; m  S    The vibrant Winnipeg housing market continued to show its strength as1 b* m; h8 v! X* i7 B4 H" p
house prices rose during the third quarter. The booming local economy resulted. f% w6 p& p* Z0 k0 Y4 j" Y/ ?. M+ v0 i% O
in a historically low unemployment rate, helping to bolster consumer
" S" z: S# R" y; E/ qconfidence and Winnipeg's ranking as the city with the lowest capitalization6 j4 b, G) L. o0 \3 p8 a1 `
rate among the country's larger cities - helped to encourage buyers to enter5 \' X9 ?5 n, X: j4 W& Z- }( l
the market.
- }- Y. d3 x& P! r, d5 x% R# X7 u
1 C4 ?# L: H  J9 j    In Regina, the market experienced a slight seasonal slowdown through% G  r. R4 n* \0 |) s
July, as there were fewer purchasers in the market due to summer vacations. In
6 e9 O% _% v! X+ F7 g7 `August, activity resumed to the busy pace previously seen in the spring
' L4 }2 Z. A( K. I6 a* Mmonths, as the influx of purchasers made it more difficult to find a home due
% ]9 g, S( m- \8 O0 Y% gto the shortage of available inventory.8 `# P. Q4 M6 ]+ Z& Q/ l
* x/ O+ |' ?/ m/ V) V
    Activity in Saskatoon remained brisk as the market maintained its
9 D0 b$ _; }) F$ v8 x6 I* g! p1 `) bmomentum from the busy spring sales period. The economy in Saskatoon remains
; p# }/ @" A/ H9 vvibrant, as employment opportunities are abundant with many businesses# m1 B* H. h; Z5 V
struggling to make hires and having to recruit outside the province.
3 Q  B9 u, v, V! s
1 [8 k. c- U( r- [! U) ?    Calgary's housing market recorded blazing average house price increases( i2 M- Z7 r# S
in the third quarter, in all surveyed categories. The burgeoning economy, low
  f' u6 a+ \; [; E8 X! Ounemployment rates and low inventory levels remained the leading factors that; {+ O, I" Y5 x+ z: f" U$ M
pressured Calgary's house prices upwards. However, regardless of the soaring
' m; m( ?" ^% \0 M, Z# bprices that characterized the market - even during the typically slower summer
% x# m. S  [8 \- u' |: vseason - it is expected that activity will become slightly more balanced, as
7 J/ ~5 F5 L7 o# D$ U4 |# Qbuyers are becoming more reluctant to participate in the frenetic activity.
# E. X2 m& G; F

7 D$ X1 R) o# S8 k) B6 v( M" \# m    Edmonton's booming local economy continued to thrive in the third quarter
: X* _1 l& _. k1 ]; Y( Xas activity in the oil sands north of the city continued to flourish. Edmonton
8 i# c5 ~5 @5 C. wremained the hub of activity for those coming to work in the oil industry,
7 w# [/ f" G/ Q* s0 ]! t/ ]maintaining tight inventory levels across the city, resulting in prices
* \  c- P  i* A+ p; Lincreasing at record levels. However, as inventory levels continued to improve4 W# v6 v3 l' C% `9 h
in the third quarter the rate of price appreciation should moderate slightly! e) @6 {: J8 f: S" z  t5 [
towards the end of 2006.
    # W) ]2 k9 M) d: H. f

) i' T! f5 ]+ q6 vWhile Vancouver has seen a slight reprieve from the severe shortage of7 o! h) t" J5 w9 [" d& J$ i& B) a
inventory that had previously characterized the market, supply is still unable9 {! p$ R+ Q7 T5 K" j
to meet demand, driving house prices upwards. Vancouver has a very diverse4 |% @$ O# C, d" T7 j
group of active buyers - from first-time home buyers to baby-boomers to
7 |( E  [4 P$ wforeign investors - all of whom fuel the demand for houses, placing added
3 ^. a& b) Q# P+ ], Ppressure on tight inventory levels.- F: W% x. B+ m# j1 B
$ C" [9 }& q1 Q. S. L* D
    Victoria's market is vibrant and supported by strong economic0 |5 Z- ^9 r/ m/ I0 D! U
fundamentals, fuelled by a booming tech sector and a migration of young people. l& N* `; V4 ^2 w  M% R' V6 f
into the city that has continued to support the area's house price increases;& D. |1 q# B( ~3 H- @
while increased inventory levels have afforded buyers more time when searching
+ o/ }) r7 ]  y, M4 Y; j( Cfor a home, helping to normalize the market's pace.3 ?# D$ X0 d0 h2 R& L( j
- f( B; J! |6 k# q: O' u  W9 U
    <<0 L& |. z7 Q7 V' A5 a
      Survey of Canadian Average House Prices in the Third Quarter 2006$ K* H3 E+ r2 l  e( O) V
$ p/ X* b8 H6 @. ~( m5 {' P
    -------------------------------------------------------------------------! E) g! F+ `9 C0 ]1 ?4 |% i/ G  q8 Y
                 Detached Bungalows                Standard Two Storey
& v  _% n) a/ ~+ ?" P8 u    -------------------------------------------------------------------------
" v% b- a6 {% C! H, a2 ?- W                     2006 Q3     2005 Q3    Bungalow     2006 Q3     2005 Q3
1 Q& r8 T- I1 M% t4 e    Market           Average     Average    % Change     Average     Average
2 _1 S; A' Q: c6 F- Z/ t: a    -------------------------------------------------------------------------: |" b! f  ^; l" f, _
    Halifax          186,333     173,333        7.5%     198,667     199,000  \3 D8 O1 T1 m* k* U
    -------------------------------------------------------------------------9 L8 n6 @% d$ u; n$ O
    Charlottetown    145,000     141,000        2.8%     175,000     170,000
9 d+ h/ m) g$ D' g9 h    -------------------------------------------------------------------------
" }5 n' S( i+ r- \% q9 b3 a5 m    Moncton          135,000     127,000        6.3%     129,000     123,0002 d" S  D/ s, Q0 J0 i, r8 q9 c
    -------------------------------------------------------------------------$ ^! ]) t! Y& D* s8 t
    Saint John       141,200     142,900       -1.2%           -           -, ]8 d  o% v8 N# D8 p2 s. R
    -------------------------------------------------------------------------( ^7 N" \- u- f1 [# r2 B
    St. John's       143,667     142,667        0.7%     200,667     202,333- M: r% k+ O4 l5 i1 g4 r' J
    -------------------------------------------------------------------------
4 ?: H& B2 F) a1 Q    Atlantic         150,240     145,380        3.3%     175,833     173,5831 }6 n# c! N! \) O' ]2 ?
    -------------------------------------------------------------------------/ g$ o, P4 Y% f
    Montreal         213,691     203,500        5.0%     321,141     316,185
& u. ]3 p# I% u. a* p% R& y: f$ Q    -------------------------------------------------------------------------9 ~! k9 i$ \! O: W7 Q3 M/ G. `
    Ottawa           290,083     278,417        4.2%     285,667     273,250. _# }9 m, e. Q( b) `; D6 O  G: f
    -------------------------------------------------------------------------! ]! X& C( L% `+ S4 C5 C& A
    Toronto          373,368     355,882        4.9%     481,523     474,766
% @. [# P  i# W    -------------------------------------------------------------------------
# q6 Z5 f7 I7 h! D1 R    Winnipeg         181,579     159,860       13.6%     202,337     180,707, M; ~! ^& W5 V( ?
    -------------------------------------------------------------------------
2 U, \: W7 X$ K9 Q    Saskatchewan     170,667     156,083        9.3%     182,600     166,500
6 ]5 z6 O8 w6 H9 O    -------------------------------------------------------------------------7 H$ @6 a( v4 K! ~+ [6 S' F
    Calgary          395,067     252,411       56.5%     405,778     264,389; m7 G! {% S) j4 |8 s/ Y" D- ~; z% r
    -------------------------------------------------------------------------: T3 ^0 w3 b6 o
    Edmonton         286,857     194,857       47.2%     316,429     206,714
/ l* M  y6 A& n7 J8 |    -------------------------------------------------------------------------
  P5 M. m  f* q; {    Vancouver        704,250     601,000       17.2%     794,000     697,500
1 @" u4 T% b7 ~& `/ [    -------------------------------------------------------------------------: n0 ]4 s/ D) w8 [
    Victoria         375,000     348,000        7.8%     403,000     391,000
; A3 R2 G" Q) z5 f% d4 J8 I* i4 {    -------------------------------------------------------------------------
+ Y! |9 b: K; Z" p3 |    National         300,365     258,202       16.3%     365,380     322,860) g- _9 b) Q1 W  e* p
    -------------------------------------------------------------------------
8 S* P0 j4 @) J0 Y/ K8 p3 @6 D' G
# V# ], `, B. y" _) d2 S# {" O    -------------------------------------------------------------
9 g; Q5 t( S; X0 M                               Standard Condominium4 n* A3 P+ D; p& t/ s
    -------------------------------------------------------------
4 E- |4 M+ M6 H. c/ G4 |                    2-Storey     2006 Q3     2005 Q3       Condo- p/ `  b% x8 C* l& A  [$ T  m
    Market          % Change     Average     Average    % Change8 |6 \# e" b& f+ Z4 S4 Q
    -------------------------------------------------------------9 Y4 T1 V& R: n; w$ o# _% q
    Halifax            -0.2%     142,000     103,000       37.9%
; `! D6 y+ [3 f( ^    -------------------------------------------------------------
5 f  q. O2 T9 i, B    Charlottetown       2.9%      98,000      98,000        0.0%% c( v/ H; @1 p( m, v: e' x3 [3 ~0 ?
    -------------------------------------------------------------
+ @+ w* @/ ^8 s    Moncton             4.9%           -           -         N/A
+ ]0 i5 F. p' k. o* D8 |    -------------------------------------------------------------0 X4 A5 j" W3 M! ]8 o1 P
    Saint John           N/A           -           -         N/A$ l, e0 X- E4 K& D
    -------------------------------------------------------------
1 X  V) Z3 L: ]+ w    St. John's         -0.8%     146,333     145,667        0.5%6 I9 y  f9 q! W) ]( s* e" Q6 G
    -------------------------------------------------------------- x; F/ v' X9 Z0 e7 s: ^
    Atlantic            1.3%     128,778     115,556       11.4%  r7 s) T9 L( N" @0 R
    -------------------------------------------------------------
% ^6 C+ Y: b5 l    Montreal            1.6%     193,190     188,016        2.8%
% E: c8 J- \6 d. D    -------------------------------------------------------------
& V; Q& Y" R2 t% a6 ]    Ottawa              4.5%     181,083     172,250        5.1%; \( T) N$ B& D  K0 E* c; y
    -------------------------------------------------------------
& X' `4 y( b, V" S% l! J/ Z    Toronto             1.4%     252,088     242,918        3.8%$ ^# {* C8 a! t
    -------------------------------------------------------------
. I' J% N5 T, X+ c( S; @    Winnipeg           12.0%     105,648      96,008       10.0%3 w+ f, d) K8 U6 ^( r
    -------------------------------------------------------------, D7 o  V# }# |6 _- G% f1 h
    Saskatchewan        9.7%     106,250     101,000        5.2%
/ \. `+ q( v7 ], }$ c! a    -------------------------------------------------------------" ^8 z" I( Z4 W
    Calgary            53.5%     245,844     153,867       59.8%- V7 v7 U! u5 i! \5 q
    -------------------------------------------------------------
9 S& z8 H" b. D/ t( e+ a1 J. F' o    Edmonton           53.1%     200,433     131,500       52.4%: e" n% }" I3 N( w4 M5 [, n
    -------------------------------------------------------------8 }$ |% f, {1 Z6 Q" {  U2 Y
    Vancouver          13.8%     366,250     323,250       13.3%1 j. O( _. y) f3 _
    -------------------------------------------------------------2 V! J5 l1 z- l: b+ |- L
    Victoria            3.1%     229,000     220,000        4.1%
9 G: A# @- w, q  k2 I: G7 M4 w    -------------------------------------------------------------
0 Y  v9 J: ~3 Q3 o    National           13.2%     211,562     185,296       14.2%/ [4 I" O, u9 g# \$ m' t1 S
    -------------------------------------------------------------; m) G0 I6 C- W9 H, {# o3 H' I2 `
    >>, O3 H0 Y4 r, \4 C6 J
2 E* S5 N. D6 G1 n1 P, _' m
    Average house prices are based on an average of all sub-markets examined0 v2 f2 ~8 i6 f; ], u. j
in the area, except for the smaller markets of Charlottetown, Moncton, Saint
" Q3 z% D" q' ~John and Victoria.
6 V( s0 s' p7 y7 W
4 z# Q: ~* e0 G* |& X; ?    The Royal LePage Survey of Canadian House Prices is the largest, most
9 R; r* p! G' H2 }comprehensive study of its kind in Canada, with information on seven types of/ ^! v* e; |0 P
housing in over 250 neighbourhoods from coast to coast. This release% k* U% P7 N& D% ?# B# {
references an abbreviated version of the survey, which highlights house price
. u6 N( J' U: E' J5 ^+ {% l4 D! v+ Ktrends for the three most common types of housing in Canada in 80 communities
$ o6 R( k; G* g, Bacross the country. A complete database of past and present surveys is, `* m' k8 N2 j. M- l8 P
available on the Royal LePage Web site at www.royallepage.ca, and current
! C  P- \) |$ w) y& |. O' r0 mfigures will be updated following the end of the third quarter. A printable
  p0 K7 h, w* _/ Uversion of the third quarter 2006 survey will be available online on
: V6 I3 H6 w4 {; ~# GNovember 15, 2006.
) T0 t: f! K( A( |' T    Housing values in the Royal LePage Survey are Royal LePage opinions of
# s) t9 o4 M9 F* M7 |fair market value in each location, based on local data and market knowledge. p% t3 h7 ?5 \5 b5 k
provided by Royal LePage residential real estate experts. Historical data is6 o6 h" T* e; @6 L6 Z5 c3 M
available for some areas back to the early 1970s.
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