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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 * f  l) b- c/ N0 w: v1 O( w

; ~) Y) Z) W5 v' V- Country's market poised to show growth throughout 2006 -
7 N% Y! h8 V% \) B2 ^) C6 O+ N; w) i! q, v$ e3 z( E3 h
    TORONTO, Sept. 28 /CNW/ - For most of Canada, the housing market3 k" m' r1 u' h
exhibited moderate price increases and stable unit sales during the third
% u- G4 N9 u: g! U' o+ P% d8 Rquarter. Wide regional variances continued to be the dominant characteristic' A1 o& H! ?2 v1 M+ ?/ U5 ^
in the market, exemplified by frenzied levels of activity and double digit$ m, q6 U  y* l9 A% W$ S
price gains observed in the energy and commodity rich Western provinces, and
: h' z9 h8 f7 d- g2 jmore reasonable sales volumes and moderate price appreciation in Ontario,
6 k, W. E* ^+ I# [; I' `, w: ]" l7 PQuebec and Atlantic Canada, according to a report released today by Royal* s% @, d- Q# B
LePage Real Estate Services., i7 I. d+ C4 Z+ V

% G1 Z+ a) Y! W$ K6 b+ B    Nationally, market trends established through the first three quarters
# S! J9 f4 N" vare forecast to continue for the remainder of the year. Robust economic7 Q1 O. F+ W5 `/ R3 r: X/ f, v
conditions, low unemployment rates, modestly growing salaries and wages, and
9 w0 S. m  f8 C( H0 S$ r9 Osound consumer confidence contributed to the overall strength of the# t! f0 ?1 a6 p0 ~6 t
residential real estate sector.( n4 `9 X3 }& [3 D

5 P4 R$ }% X! {1 W) t8 _) B. |) N* z' m    Of the housing types surveyed, the highest average price appreciation
; _) d+ m. h. Yoccurred in detached bungalows, which rose to $300,365 (+16.3%)+ b# m7 Q, p" q, U! F4 h: g
year-over-year, followed by standard condominiums, which rose to $211,562
' Y3 n9 o/ {7 H+ P(+14.2%), and standard two-storey properties, which increased to $365,380" }; `+ ~% V( n$ v$ m
(+13.2%).* t: z  g& y( V- f( x

7 }6 x) b9 I4 L; S    "Canada's sturdy housing market continued to demonstrate steady growth
# |0 K* }3 ~5 t* e9 K# dduring the third quarter. For all but the west, we have moved on from the
4 L+ L6 c8 I5 b5 [9 f2 ?frenzied expansion that characterized the first half of this decade, and are% X- v& C( z% y8 `
poised to show continued growth at a more moderate pace," said Phil Soper,
# m' c1 H* Q4 jpresident and chief executive officer, Royal LePage Real Estate Services.
" D/ f$ P" ?/ W, n6 d"Gone is the sellers' market that we have lived with for some years. We- S8 g7 O4 D( l, z- O5 q+ a
welcome the more reliable conditions that are characteristic of a healthy
5 c+ J6 w( t1 i- Mbalanced market."
, k3 c4 Q3 \- {1 f0 b% ^' _0 }- X/ b! E, I
    Despite the double-digit rise in average national house prices,. @; t2 o+ u! E) E7 a
considerable regional variances were exhibited again this quarter. The shift
& {8 c; m0 p3 M! |3 T( {$ r% rto balanced market conditions, which began in late 2005, has continued0 q8 I1 _% Y0 J" y; ^% }
throughout most of the Central and Eastern regions of the country. In the core% @. [: w/ U- _' [. C) s
energy producing western provinces, the combination of very high in-migration,
2 G- Z4 u3 t+ Emanageable affordability, and a shortage of inventory has driven record8 Y' e  C1 H$ N4 W% |6 s
breaking price appreciations.# z- ]! f$ [+ V0 R# h8 K
9 p) |( F5 u( p, N, H
    Echoing the second quarter and supported by Alberta's rapidly expanding6 D5 p  n& Z) Z' ?! H0 o4 Q
economy, Calgary and Edmonton led the charge of Canadian cities with the" o: G/ a& e% E$ o; L) Y
largest house price appreciation in all housing types surveyed.' {/ u2 Z% s+ ]
9 d3 |- B8 x! O, Q3 Q- G4 [
    In Ottawa and Toronto, growth remained steady, supported by solid: Z2 {# g* K1 f+ @( v
economic fundamentals, an increase in available inventory and strong consumer
4 v' q2 M  o- f* F# Y& m8 vconfidence. While the pace of price appreciation in Ontario leveled off
8 d" C1 i7 _  b$ v' H& fslightly, the province's real estate market remains poised for modest growth.) |. W" R' z; h
In Atlantic Canada, new housing and condominium construction offered buyers
, i3 V) @# `& M: ygreater selection at more competitive prices, resulting in a slower rate of1 d/ D; S8 C$ C: o/ k: P( z
price appreciation when compared with 2005.8 r9 ]8 u' r& k1 @; |! [) P

. \( g$ _! ^' S! v( U    While the pace of growth in Canada has slowed, the domestic housing
  ]. c" W( a4 q# r$ Z4 Imarket is expected to outperform the American market. The economic and
2 ]) ^/ Q' q% Q, X! ^financial fundamentals driving the residential real estate sector in Canada/ W/ m7 x$ U0 u  \+ G
are markedly different than those found in the United States.. U1 U0 J+ }8 A% s
7 \6 g  x* {' h$ E. X
    Added Soper: "Canada's housing market is likely to outperform the
" c" U" R9 d& u4 d5 ~2 BAmerican market through 2007. A number of factors are working in Canada's0 u3 F, [9 r& S+ e
favour, including healthy personal and governmental debt levels, the( P6 U" D0 q, s. h
relatively modest rise in interest rates in our country, and general
0 M# e- k7 b2 H0 c7 }: Iaffordability in our major cities. In addition, Americans are now seeing the
) q* |5 J% V- K% r7 W2 Kdownside of a tax system that encourages maximum homeowner leverage, and) ?+ n' r9 Q: _/ _
aggressive financial products such as zero- and negative-amortization- Y  s  O% {  Y% t+ r  o
mortgages that work only in a high price growth environment."+ t1 Q% a( k' f$ h  Q" [! t- n
; f$ K+ Y  x5 }  e7 z& Z- K# S" S% Q
    <<
+ F9 f! f. v$ E4 ]; g6 C+ w0 y                             REGIONAL SUMMARIES
1 W/ V. B0 V9 [4 B; B/ @; e    >>
# b/ y/ M: x- G- k) s. t' U6 n2 b- b. l
    Balanced conditions continued to characterize the housing market in( N0 ^/ J" `* c$ A/ Q3 H8 U7 y& t
Halifax, as significantly higher inventory levels helped to moderate the rate
0 }( s* `0 X' H3 b! {" a3 g9 iof price appreciation. Buyers were increasingly choosy, taking more time
* x6 n) b4 [' |/ _7 Q: Alooking for newer, low-maintenance properties that were not in need of
: r0 Y/ b5 y2 q2 Q: ~2 wrenovations.
& Q* S0 e: X' n
6 D( m! o, K) a+ l4 s" P    The housing market in Moncton remained healthy and strong as a slight
7 K3 j0 [4 a: H6 L: Wincrease in inventory helped to moderate the rate of price appreciation
9 X4 r( Q/ }0 I" @9 jcompared to the same period in 2005. Activity was brisk throughout August and# c! n% s* {* Q! c$ R
September and is expected to remain this way through the fourth quarter.' z8 {" N8 a, z2 ]" i5 g
3 f9 Y# E% V9 \) N  U+ v
    The housing market in Saint John underwent its traditional summer
# J3 G7 O  k: [8 U( xslowdown in the third quarter, with activity picking up towards the end of the9 I! k' |% F0 @
quarter. The local economy continued to thrive, as construction on a new
' G5 n# p' n% M600,000 square-foot shopping area has begun, bringing several new box stores- ?. V8 m, v/ o: R/ a/ a
to the area. Buyers have begun seeking less expensive fixtures for their homes. X9 H- t- m' g: I- ?
and are instead opting for more affordable housing options.
0 X8 U5 }) A0 K% ?9 d- y6 ?
' e6 Z- H) U! {  Y: x    In Charlottetown, the housing market started to move towards balanced2 ?- Z9 o: f/ k' `$ R( ^
conditions, as some sellers had to begin to lower the asking prices on their! @5 Y9 S5 A* c' a. D4 n6 [6 A
homes to make them more competitive. Activity from out-of-town and US buyers
6 t. N  _* i+ y8 j9 N. Zwas down slightly compared to 2005, likely attributable to the strong Canadian
0 d/ w1 p! o4 M, Fdollar. Inventory levels began to creep up in the third quarter, providing* M9 K. F7 f4 T( c2 v1 N, z
buyers with more options when looking for a home.% U* T) c) w- h7 ~; [
! F3 L' b# e& r, D
    Activity in St. John's slowed slightly in the third quarter, particularly
& N& ]4 E7 Y! d, [$ m7 tamong higher-priced properties, where there was a slight over-supply of homes
% K+ V( Y  c* t$ Kpriced over $200,000. Listing periods have increased when compared with 2005,- t9 j; y; y+ v6 {
as some of the pent-up demand that had characterized the market over the last/ w6 n  n# V! ~# |! B
few years has been satisfied, resulting in more normal, balanced conditions.+ _- O& F0 A. g

  E1 v0 |0 o* Q& U2 Y- d% X8 m    Montreal's housing market recorded modest increases in average house
6 T6 q1 n! {; B- D( I& j# }8 qprices, due to a slight seasonal slowdown in the third quarter as inventory  V' x8 A6 U. K) {: F: L
levels rose. Part of this can be attributed to the fact that many renting8 o4 n# }2 s( Y
first-time buyers were motivated to close on the purchase of a home by July 1,. }7 [  g/ W- [( K; f
when rental leases expire in Quebec. Once this date has passed some of the8 p' u/ @5 w) B1 h% _, P
pressure is taken off the market, allowing buyers to visit more homes before7 V! J. P! f# b3 \, x  j! @
making a purchase.3 l' P  |! E7 F8 n# d* i

* U4 v+ w  L$ C    Ottawa held its position as one of the country's most stable housing% D7 y! D3 {5 {! s. }! _
markets in the third quarter, reinforced by a vibrant local economy and strong
: I: m* |; T( a5 r" econfidence, resulting in modest increases in average house prices. The city
. o# x( n! ?/ a- Xcentre remained a bright spot in Ottawa, with homes in this area attracting) I) s* ^9 F9 C4 K& j7 u  h
attention due to their convenient location and proximity to downtown
8 A+ M9 A* X1 u! Wamenities.
- V4 h, g# M( f- z! L( |) a2 q# K$ S& {0 N( F0 s/ Q
    The housing market in Toronto sustained healthy activity levels3 `, g: f0 y, K! _
throughout the third quarter, as a strong economy helped to maintain demand
$ c( D% m. ]; _( p8 H2 @across the city, causing average house prices to rise moderately. Toronto has
! [- y$ q4 M4 w9 y8 u" Q/ Rcontinued to experience modest growth in average house prices, and has been
0 n* y. b$ _* }2 jdriven primarily by purchasers who are buying homes as their principle
! H8 V. X; G+ h% }+ Presidence, rather than for investment.% S$ Q" p( J* w5 V
& J. p- _8 c0 M, D! b
    The vibrant Winnipeg housing market continued to show its strength as% G* d# Q' f; H* K6 x* R5 Q
house prices rose during the third quarter. The booming local economy resulted
& u- i, `6 X/ b8 uin a historically low unemployment rate, helping to bolster consumer
9 |  X% G7 ?. \. J0 V- Tconfidence and Winnipeg's ranking as the city with the lowest capitalization
$ t( A8 y; C" o0 Jrate among the country's larger cities - helped to encourage buyers to enter4 Y& B3 d! {: K2 _/ \7 T: U
the market./ _- H2 ^4 G) f$ Z6 j8 y9 l

; R, O& j4 y- r    In Regina, the market experienced a slight seasonal slowdown through
4 f# {: i$ v% `0 |7 I) zJuly, as there were fewer purchasers in the market due to summer vacations. In9 R% m/ k9 o5 ?* x# F( C) M0 t
August, activity resumed to the busy pace previously seen in the spring
0 V$ M0 @0 L3 [2 @2 |8 dmonths, as the influx of purchasers made it more difficult to find a home due' }) N, j* m+ V" h4 _' m. G
to the shortage of available inventory.. Y& i! O7 E5 D7 {: t
1 M9 @6 P/ ?6 A
    Activity in Saskatoon remained brisk as the market maintained its
" Q6 N! y0 h1 \2 ?7 y( c! Omomentum from the busy spring sales period. The economy in Saskatoon remains
: v9 |4 b- T: u3 Avibrant, as employment opportunities are abundant with many businesses
- s5 t/ }! K* [: Z* A# g% mstruggling to make hires and having to recruit outside the province.
8 U+ {- t/ K2 A8 Z& `3 u% o- |( h6 L$ R
    Calgary's housing market recorded blazing average house price increases
9 i7 L4 N( s9 f5 a. i( ]0 @in the third quarter, in all surveyed categories. The burgeoning economy, low
5 P7 a' ~8 w7 m. @# Z9 @unemployment rates and low inventory levels remained the leading factors that
4 Z8 f* }. A) ~! n4 w1 d& C; rpressured Calgary's house prices upwards. However, regardless of the soaring
4 ]) ]% o  p! y% ~0 F: e& cprices that characterized the market - even during the typically slower summer: O( _4 L3 h& B* ~( E7 d
season - it is expected that activity will become slightly more balanced, as
) H2 t3 E8 a  s% r# T4 V' Xbuyers are becoming more reluctant to participate in the frenetic activity.

, g" P; t9 p. D! T
. n% }1 |! v6 A  c    Edmonton's booming local economy continued to thrive in the third quarter
  }  H) d( ]. q8 J$ U$ gas activity in the oil sands north of the city continued to flourish. Edmonton
- \6 p9 ?. k/ T% e  X# q6 Yremained the hub of activity for those coming to work in the oil industry,. D5 I& S$ I* {& R
maintaining tight inventory levels across the city, resulting in prices
+ X& X" X. [- i5 _# H" b6 Kincreasing at record levels. However, as inventory levels continued to improve+ v1 q2 v  W9 t/ s6 o  r
in the third quarter the rate of price appreciation should moderate slightly0 d3 G# I& p! B6 d
towards the end of 2006.
    & C' O. Z  a+ F" F, w

$ K& J$ {" H, G. u! G& H. QWhile Vancouver has seen a slight reprieve from the severe shortage of! O8 P, f8 `5 I$ J& W  R/ I
inventory that had previously characterized the market, supply is still unable- M$ a( N8 P* q
to meet demand, driving house prices upwards. Vancouver has a very diverse
* c7 s4 S# `1 C" t: L8 [group of active buyers - from first-time home buyers to baby-boomers to( {: x/ L  r4 s% x' _
foreign investors - all of whom fuel the demand for houses, placing added$ K, P% ?* J4 c/ L! @, c
pressure on tight inventory levels.2 w7 y, m( V9 T8 A+ `9 N4 o
$ q  ?" N8 \- f, I  a2 W7 Z+ t
    Victoria's market is vibrant and supported by strong economic) J' R1 r# l8 R
fundamentals, fuelled by a booming tech sector and a migration of young people: i* Y$ }7 d  P( z9 x) b2 n$ C  r
into the city that has continued to support the area's house price increases;" s- B( O9 y, K) [
while increased inventory levels have afforded buyers more time when searching- s$ m" a& z% |8 @7 M, ~/ C$ y) {
for a home, helping to normalize the market's pace.3 k$ C+ h8 Z0 u# F& d

* T. A* K: _) ^) E3 n& }    <<
* S- T5 c% c2 \6 `# @( I      Survey of Canadian Average House Prices in the Third Quarter 2006
# f* W1 g$ ~; i8 s4 b2 T
( F5 ]) d8 o1 m5 L8 f- b    -------------------------------------------------------------------------& T9 q7 @+ d4 ~# N
                 Detached Bungalows                Standard Two Storey9 P# }$ F% p9 B6 r$ M* }. |
    -------------------------------------------------------------------------. a9 X) k# `* w3 p7 }7 J+ ~
                     2006 Q3     2005 Q3    Bungalow     2006 Q3     2005 Q3; C1 ^; [/ k( t; y) l& B2 `$ G
    Market           Average     Average    % Change     Average     Average8 ~$ e5 i0 n2 r) L
    -------------------------------------------------------------------------
; P" E8 n. k+ C# d  p" S+ D    Halifax          186,333     173,333        7.5%     198,667     199,000
  l" F" M" G# V) m' ?; Q    -------------------------------------------------------------------------
, \! ?$ Y. y) D/ E& m/ F2 \, N    Charlottetown    145,000     141,000        2.8%     175,000     170,0001 H0 P; A5 d6 G& _9 f& H4 L5 c
    -------------------------------------------------------------------------
3 |/ \' O8 _# ?0 {. x+ Y    Moncton          135,000     127,000        6.3%     129,000     123,0007 t5 |" D2 f8 L. w0 X
    -------------------------------------------------------------------------
4 b  w% x+ I/ Y- W  _1 t    Saint John       141,200     142,900       -1.2%           -           -* X0 F8 o5 q4 L" g7 H
    -------------------------------------------------------------------------
2 V% k. P6 N1 F4 v6 z) Q; i    St. John's       143,667     142,667        0.7%     200,667     202,3339 h" D) z3 \  ^. l
    -------------------------------------------------------------------------
. t6 r! k6 h: O8 ~: G7 M* x& ~5 W    Atlantic         150,240     145,380        3.3%     175,833     173,583- f4 R7 D& A0 x* [
    -------------------------------------------------------------------------, D& _* s6 ~' v4 [' `
    Montreal         213,691     203,500        5.0%     321,141     316,185
) d6 m. C/ l' y! [( u. M* Z4 k    -------------------------------------------------------------------------( |* j% V) V6 P" f1 K
    Ottawa           290,083     278,417        4.2%     285,667     273,250
3 Q. x. M6 I3 b$ ?& V1 N( B    -------------------------------------------------------------------------
$ B* j) |% k6 x, F    Toronto          373,368     355,882        4.9%     481,523     474,766
2 T: Q) l, I: }! s0 y* }; ~1 o    -------------------------------------------------------------------------
8 p4 _+ J4 D$ \, [" \6 R    Winnipeg         181,579     159,860       13.6%     202,337     180,707  t: t+ Q* V/ h4 ?$ n. |
    -------------------------------------------------------------------------
" o8 T1 P0 _! U    Saskatchewan     170,667     156,083        9.3%     182,600     166,500% k$ @; p" c; u5 b) D4 i+ x
    -------------------------------------------------------------------------
% w, Y5 e0 B0 [& t    Calgary          395,067     252,411       56.5%     405,778     264,389
) z. L7 l- O! |+ g    -------------------------------------------------------------------------% c, J& a& g: c- R. b
    Edmonton         286,857     194,857       47.2%     316,429     206,714
1 K: s0 `" j; B* H    -------------------------------------------------------------------------: H& Y' p2 [0 }. t* n+ N  e
    Vancouver        704,250     601,000       17.2%     794,000     697,500
) J2 R+ j- ^' m+ R: L    -------------------------------------------------------------------------  q1 ?1 |. k% ?0 G" u& H
    Victoria         375,000     348,000        7.8%     403,000     391,000: _( R  P7 V+ m6 F6 U+ x% d/ Z; X
    -------------------------------------------------------------------------4 L5 X: J9 \0 ?1 h
    National         300,365     258,202       16.3%     365,380     322,860
" O, a- `- e. e2 A: B) }# Q    -------------------------------------------------------------------------
- t- d. M3 b- p* m2 j9 [$ X
/ j8 b$ Y  S3 T) U8 s7 W    -------------------------------------------------------------
5 V7 X7 k6 j6 l                               Standard Condominium6 L3 w/ M* r* W* p
    -------------------------------------------------------------6 m& ~" R. U' [
                    2-Storey     2006 Q3     2005 Q3       Condo1 L; E' g+ p. h
    Market          % Change     Average     Average    % Change" g' Y# D5 n$ D: E0 t5 W/ P' H" `5 r
    -------------------------------------------------------------
3 Z3 w2 O+ \( K* G1 O( A    Halifax            -0.2%     142,000     103,000       37.9%, f! m0 b- S# W$ R, B, j( W9 \
    -------------------------------------------------------------
5 E# Y; m/ Z3 |+ X  T    Charlottetown       2.9%      98,000      98,000        0.0%% U9 j- w% |8 S( L3 C, W
    -------------------------------------------------------------
& I/ {2 ?% U% _( s7 `  A    Moncton             4.9%           -           -         N/A
" c$ Y- e0 G+ B" E& O$ r. \    -------------------------------------------------------------
% P, Q0 O' j* n    Saint John           N/A           -           -         N/A
8 S+ L6 \1 {( S; U& Q/ J    -------------------------------------------------------------# ?: l2 D% r" v) u
    St. John's         -0.8%     146,333     145,667        0.5%
+ k8 {8 C+ Q6 x' Y    -------------------------------------------------------------
; T7 A8 X6 K/ a! h) `. L" p! K    Atlantic            1.3%     128,778     115,556       11.4%
6 j& Z/ v8 o+ B% Q/ }- N2 Z0 O5 Y    -------------------------------------------------------------* F, k5 \& C* h' \8 n5 u8 `7 h
    Montreal            1.6%     193,190     188,016        2.8%8 w* a( T( i* v- q% X0 g: M1 d
    -------------------------------------------------------------: f: e( j# v% S9 L- L
    Ottawa              4.5%     181,083     172,250        5.1%4 F1 R9 L& p- P7 s7 E
    -------------------------------------------------------------& M: ?+ E* A* i' U" a
    Toronto             1.4%     252,088     242,918        3.8%
, J/ j% }8 @8 j    -------------------------------------------------------------
6 D( m( g5 `, U' u1 W1 d    Winnipeg           12.0%     105,648      96,008       10.0%
- ]" @. ]# K' B. y2 h" ^    -------------------------------------------------------------5 C- {7 G- ~& [$ Z/ \) @: b& s( `
    Saskatchewan        9.7%     106,250     101,000        5.2%
/ n" d, G+ X' M    -------------------------------------------------------------. X0 S: L9 k. z- z! C& M) c
    Calgary            53.5%     245,844     153,867       59.8%# D2 \; `. T; f& D2 G
    -------------------------------------------------------------
3 D* G4 D+ a) \3 O# j' `6 M    Edmonton           53.1%     200,433     131,500       52.4%$ d; g& E0 N0 _5 a2 I7 a- x
    -------------------------------------------------------------% r2 g: h; a) k) W( b
    Vancouver          13.8%     366,250     323,250       13.3%( v9 J8 m( z2 e# O$ ?9 O) V
    -------------------------------------------------------------
5 H- p& R/ o, n    Victoria            3.1%     229,000     220,000        4.1%  K: R- F6 {$ l: A- X% U6 L, }( _* t' c
    -------------------------------------------------------------) N1 k$ L& {/ H4 Y# T: X, u* S
    National           13.2%     211,562     185,296       14.2%- n/ e" T% w: ~8 a3 N6 F
    -------------------------------------------------------------
4 v8 r3 p1 c1 ]$ ]$ G+ m/ c, K    >>
, X0 E: r. F6 s% |' _/ _/ s, X* C; F
    Average house prices are based on an average of all sub-markets examined
9 V  y, ?; [9 P# J, r4 ~" F5 c' `in the area, except for the smaller markets of Charlottetown, Moncton, Saint
) t5 A1 D6 {( r, I5 P; X$ UJohn and Victoria.
* O% X" i% `1 _# \$ w* e5 Z6 i6 @- ^9 T
    The Royal LePage Survey of Canadian House Prices is the largest, most
  h+ F, _- E. G# Y. [4 k' zcomprehensive study of its kind in Canada, with information on seven types of
& h$ V4 @1 r0 {8 ahousing in over 250 neighbourhoods from coast to coast. This release4 X* r; N3 ?# n& ^
references an abbreviated version of the survey, which highlights house price
) s7 n* @. {& e% Btrends for the three most common types of housing in Canada in 80 communities
* H# l; s8 i6 Q9 Facross the country. A complete database of past and present surveys is+ y3 e1 O/ z8 l- d/ Z
available on the Royal LePage Web site at www.royallepage.ca, and current6 U( I+ K+ U* {0 ]8 F& }
figures will be updated following the end of the third quarter. A printable
5 B. I; G( @4 u3 _" [- k  Wversion of the third quarter 2006 survey will be available online on4 I- \$ q& \0 A# W7 w9 A2 x2 U) h
November 15, 2006.
- Q6 k& h( ?$ Z  K5 }! }    Housing values in the Royal LePage Survey are Royal LePage opinions of
% a" K! h. T% c, P) t. ~fair market value in each location, based on local data and market knowledge) K, A+ q" d) j  v3 j0 P1 m
provided by Royal LePage residential real estate experts. Historical data is
  ^' z3 @. w% G8 y) T" p$ f. mavailable for some areas back to the early 1970s.
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