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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 " T( N2 ^6 e% n, H' W1 l  k3 ^# m

! H2 [. I4 j: D- T- Country's market poised to show growth throughout 2006 -
3 g3 x9 A: \! `9 @9 G
* e/ X0 P1 g/ R/ c. l    TORONTO, Sept. 28 /CNW/ - For most of Canada, the housing market! s! e2 o) P& Y8 g6 _6 k
exhibited moderate price increases and stable unit sales during the third2 R: T5 W, P3 t- ?+ ]  U( i" L* u: o. ~2 ]
quarter. Wide regional variances continued to be the dominant characteristic" w; Z+ T7 _0 P( y5 A
in the market, exemplified by frenzied levels of activity and double digit8 w6 n2 L2 u9 c+ {/ ]6 S
price gains observed in the energy and commodity rich Western provinces, and9 R1 N# E$ k" |" p0 _9 c% ^
more reasonable sales volumes and moderate price appreciation in Ontario,
- }" N/ T& j4 H) [. G* z3 zQuebec and Atlantic Canada, according to a report released today by Royal5 R5 K3 E( h9 J
LePage Real Estate Services.
9 F! b; [% l. W) }8 h! |
3 a" S( F0 l. i% U+ }- p( G+ Y    Nationally, market trends established through the first three quarters
8 B$ Z0 y0 |% k, h$ C- h; Xare forecast to continue for the remainder of the year. Robust economic
/ a" i  z5 k- G$ Q- z: d4 B8 aconditions, low unemployment rates, modestly growing salaries and wages, and
; P) m/ i! L# J/ l, m3 s/ ysound consumer confidence contributed to the overall strength of the# s2 _5 H% v2 k1 g8 e0 ?: s) T* q  |
residential real estate sector.2 F- t. ]8 n( b; c& N, Y) r

& b; I6 L+ l3 E* X; k9 |    Of the housing types surveyed, the highest average price appreciation0 i$ H% `7 w- E, U* c3 D
occurred in detached bungalows, which rose to $300,365 (+16.3%)
: s5 Q9 g9 i* ?) P  r: [year-over-year, followed by standard condominiums, which rose to $211,562
) k1 w# P- P& ]+ d(+14.2%), and standard two-storey properties, which increased to $365,380) A( p' w+ q8 [7 y' l. W
(+13.2%).1 s6 K: I, E) Z: d5 i

, ?! n( l. k- P. P    "Canada's sturdy housing market continued to demonstrate steady growth
* H, T5 i  w& z+ wduring the third quarter. For all but the west, we have moved on from the8 ~# Y/ `$ D% Y- Z8 K, n
frenzied expansion that characterized the first half of this decade, and are
2 F4 N0 _1 P% u3 Y, Bpoised to show continued growth at a more moderate pace," said Phil Soper,$ E9 `- \7 X" D9 j( |# V, F1 E& j7 a; S
president and chief executive officer, Royal LePage Real Estate Services.9 ^% U2 `1 `2 g( |* x- F% k
"Gone is the sellers' market that we have lived with for some years. We
* `. Q' _) x9 i* P3 A! f3 ^" H! jwelcome the more reliable conditions that are characteristic of a healthy, [' z: r/ }0 b6 Q( u# I
balanced market."
" ^( a( ~* H6 D& V+ N3 X
! K' g5 r  h) h+ p/ V    Despite the double-digit rise in average national house prices,0 c8 P, R$ E4 T: j
considerable regional variances were exhibited again this quarter. The shift
: G+ u, _' D8 H8 b6 Y% _; m- Mto balanced market conditions, which began in late 2005, has continued
. y+ w5 m2 Q( K% t, M- D  ~throughout most of the Central and Eastern regions of the country. In the core
. b6 J9 `+ [' w( \, u* V# {energy producing western provinces, the combination of very high in-migration,/ ^. g6 p: M2 n9 o$ D
manageable affordability, and a shortage of inventory has driven record
! r( Q4 u! [, A/ L4 Q2 j- Ebreaking price appreciations.
# T! P" z6 u' B* [" |8 G3 R
( l6 w2 M+ q5 x2 E* X: ]1 p    Echoing the second quarter and supported by Alberta's rapidly expanding5 ~0 N% v& {; x) k# r
economy, Calgary and Edmonton led the charge of Canadian cities with the/ @* ?2 P! N% ^& E8 h
largest house price appreciation in all housing types surveyed.' f$ I, U. |. B; S

6 K$ l, }0 y! ~5 `$ M    In Ottawa and Toronto, growth remained steady, supported by solid
2 S% `" ]/ ~& |economic fundamentals, an increase in available inventory and strong consumer- y# D4 }# Y1 }; [& H
confidence. While the pace of price appreciation in Ontario leveled off
5 l  p& x% V* Kslightly, the province's real estate market remains poised for modest growth.6 a! M( k: D3 x5 f+ D
In Atlantic Canada, new housing and condominium construction offered buyers
( r8 P5 H8 N0 U' q, A& igreater selection at more competitive prices, resulting in a slower rate of" Y5 I- p! h7 K( ?  c
price appreciation when compared with 2005.
* J5 W+ \; X3 t: K/ g! T6 i7 L- K  ~
    While the pace of growth in Canada has slowed, the domestic housing
6 O; h) u2 q) I" p' Vmarket is expected to outperform the American market. The economic and+ m- ]  e  h. I& \, h" s
financial fundamentals driving the residential real estate sector in Canada: o0 Z7 Y5 |/ H6 A! [0 H1 s( I% d
are markedly different than those found in the United States.
* x4 ~9 L1 _) u) y- a* s
& n$ A3 f9 I8 d) `4 |3 T, `    Added Soper: "Canada's housing market is likely to outperform the
0 ?8 z. ?9 x. [  z: K9 r2 xAmerican market through 2007. A number of factors are working in Canada's
, c7 m6 Q) q5 wfavour, including healthy personal and governmental debt levels, the
- X/ ^. n+ u6 q& Z" n$ l# u, {  Orelatively modest rise in interest rates in our country, and general
/ ^4 `5 a. m  q: M: e( Jaffordability in our major cities. In addition, Americans are now seeing the3 Y" E" p1 A  @+ s8 i2 }: ]2 o
downside of a tax system that encourages maximum homeowner leverage, and
" e/ @6 z9 l" o; a' N( \aggressive financial products such as zero- and negative-amortization
/ L* a( N8 V: y0 Y! T2 L$ x0 Omortgages that work only in a high price growth environment."
; k8 T4 d" Y% u( J" h4 g6 x, o) ~# n* D1 [5 Q3 z* n
    <<
5 s1 T- V& B  |  h9 I  C- x                             REGIONAL SUMMARIES
3 b3 s& W% [7 U. `& c    >>
: o2 @" j: z, ^9 m* D; {/ v$ x! A1 i) W! G8 v& W
    Balanced conditions continued to characterize the housing market in
* G$ P5 i$ o. S: I& |+ }* L8 ?Halifax, as significantly higher inventory levels helped to moderate the rate
5 `7 |* d+ J$ X3 @) `: C, U9 Pof price appreciation. Buyers were increasingly choosy, taking more time( h; u5 ?5 Y' Y0 |' Y
looking for newer, low-maintenance properties that were not in need of" u# ?9 Z" Y1 J' V
renovations.1 }" o  ?# o8 H7 x9 z- K8 W5 T7 N# o

& n6 Y: `! r1 _0 N9 y, o1 x    The housing market in Moncton remained healthy and strong as a slight0 Z4 r5 ~8 i1 _* I- c
increase in inventory helped to moderate the rate of price appreciation) _4 g& @9 a! _
compared to the same period in 2005. Activity was brisk throughout August and
0 U0 \3 \7 ]9 f$ A* T: w- R2 |September and is expected to remain this way through the fourth quarter.' o' d! B2 U' ?5 J# U# o8 G( m
! {- h5 |* H# N$ g5 P: }
    The housing market in Saint John underwent its traditional summer, Z# ^( b8 z4 `2 M9 V2 I$ r( k
slowdown in the third quarter, with activity picking up towards the end of the0 ^$ I& t( ]/ L  K3 ~* p6 t. n
quarter. The local economy continued to thrive, as construction on a new/ O! Z$ i6 g0 z% ^
600,000 square-foot shopping area has begun, bringing several new box stores9 P( U2 d- ?* H1 D9 c  `
to the area. Buyers have begun seeking less expensive fixtures for their homes3 Q( v% o2 S2 J9 n) z
and are instead opting for more affordable housing options.6 t. J2 X2 Z. N$ w) I9 ^- l$ r: N

0 Y* Q4 Y( R( Y3 o* X    In Charlottetown, the housing market started to move towards balanced
, m$ _. r+ g4 r9 p- kconditions, as some sellers had to begin to lower the asking prices on their, D2 U# }) C! j' Y
homes to make them more competitive. Activity from out-of-town and US buyers
5 ^  _* @6 O- [was down slightly compared to 2005, likely attributable to the strong Canadian
1 k4 M3 s2 }6 }dollar. Inventory levels began to creep up in the third quarter, providing
/ m) A, @" o3 [0 Abuyers with more options when looking for a home.
. W! e# V; B# h1 `1 W9 |; N2 D$ O: ~1 e" Y, v9 j5 i$ T& w# \
    Activity in St. John's slowed slightly in the third quarter, particularly# g+ d: i) P3 s! B6 Z% u+ }
among higher-priced properties, where there was a slight over-supply of homes  ~5 B, o+ `" r& c5 I9 P
priced over $200,000. Listing periods have increased when compared with 2005,* Q! H- ^; b) n2 z
as some of the pent-up demand that had characterized the market over the last5 o$ Z8 I' y$ M
few years has been satisfied, resulting in more normal, balanced conditions.
% }2 D; D' W* b' K. S8 h# n: g, J9 ^" g4 q, S0 e* \, P
    Montreal's housing market recorded modest increases in average house9 j0 L6 D2 K3 E; D. ?! G6 c( d5 L
prices, due to a slight seasonal slowdown in the third quarter as inventory
( S& v$ d# w  A2 e. ylevels rose. Part of this can be attributed to the fact that many renting
. y! \; o) G8 d( |1 M$ ^! dfirst-time buyers were motivated to close on the purchase of a home by July 1,, h4 W5 H+ M9 z  e
when rental leases expire in Quebec. Once this date has passed some of the5 f( H& w3 I1 ^' h8 P
pressure is taken off the market, allowing buyers to visit more homes before+ @$ ~3 \# t* W3 u/ a; W/ s
making a purchase.; h3 x2 C- ~; ^: B( s, M5 K6 I% S5 L

7 H! t5 N; B- U% s    Ottawa held its position as one of the country's most stable housing4 S( S1 Z: ~& t- U1 u8 p5 c
markets in the third quarter, reinforced by a vibrant local economy and strong
4 ~) [* o* k, s1 X! C+ _8 pconfidence, resulting in modest increases in average house prices. The city
( T; G" X" h% ~4 `9 Mcentre remained a bright spot in Ottawa, with homes in this area attracting9 j" y  i! |5 D( |' H# |. E6 H( B' S
attention due to their convenient location and proximity to downtown
. C8 {$ n4 g; K0 [( uamenities.
- ~2 F% Q, j0 I; l# B
0 \7 F4 |! x& b* w" c    The housing market in Toronto sustained healthy activity levels
% k1 F! H3 W# r2 H2 Dthroughout the third quarter, as a strong economy helped to maintain demand
* B! x! g( D8 `0 Yacross the city, causing average house prices to rise moderately. Toronto has4 G  P& @$ s/ w# E. ^$ q' I/ P
continued to experience modest growth in average house prices, and has been+ X" e/ ~' Z9 ~( q; `
driven primarily by purchasers who are buying homes as their principle
, B, ]) T/ Y3 m! O5 eresidence, rather than for investment.0 j3 G# O$ {& o" h' W) r7 y% T
3 x9 s6 ~% p* Z( M0 W& G1 K
    The vibrant Winnipeg housing market continued to show its strength as
- x, E/ l" Y; C# f: W# f8 Y! zhouse prices rose during the third quarter. The booming local economy resulted- F) Z, ~; ]+ i; M
in a historically low unemployment rate, helping to bolster consumer* }) n; S/ n9 L7 e7 P6 c4 S
confidence and Winnipeg's ranking as the city with the lowest capitalization
1 l" G# ^$ N8 Q% s( vrate among the country's larger cities - helped to encourage buyers to enter
$ X+ t2 h* T0 M- U* Y6 q! N, g  q' rthe market.
4 v: r4 E. f) q7 M3 U# B$ H4 x1 g% D" _! ~! c7 g, |1 y
    In Regina, the market experienced a slight seasonal slowdown through* W. h4 V! |+ [( k1 P6 z- ~3 G
July, as there were fewer purchasers in the market due to summer vacations. In% h6 c* n9 @: N" }5 x* M% w% j
August, activity resumed to the busy pace previously seen in the spring3 U2 g8 ]; v* G# x2 U- J, v$ [6 Q. i
months, as the influx of purchasers made it more difficult to find a home due
  n/ o) z4 v) c' Eto the shortage of available inventory.
5 A! F9 P! S4 Z$ W* |6 P4 b$ Q9 k. N$ |
    Activity in Saskatoon remained brisk as the market maintained its1 M' O3 K& i7 ?0 A
momentum from the busy spring sales period. The economy in Saskatoon remains  j; a$ ?! l5 S- R5 e) R! f7 R
vibrant, as employment opportunities are abundant with many businesses
" d8 Q, Q4 y* Dstruggling to make hires and having to recruit outside the province.
( ]+ r5 K) n% u7 |; C
2 F& R/ L+ h' R7 U+ e1 Z    Calgary's housing market recorded blazing average house price increases/ c* u( o4 }5 q) y
in the third quarter, in all surveyed categories. The burgeoning economy, low" D9 k0 N" O( o& u
unemployment rates and low inventory levels remained the leading factors that. k: R* [0 \+ M- w
pressured Calgary's house prices upwards. However, regardless of the soaring4 q) w! b0 X& C
prices that characterized the market - even during the typically slower summer/ v& Y: v# n* ]. i1 m
season - it is expected that activity will become slightly more balanced, as" \! i2 J' ]0 M( J8 [* O  F
buyers are becoming more reluctant to participate in the frenetic activity.

  }$ u" k% R# O5 I9 W# E& A) l2 J" `6 F" F$ p6 L# l6 T
    Edmonton's booming local economy continued to thrive in the third quarter
' a4 V( G- X; Z* O0 [as activity in the oil sands north of the city continued to flourish. Edmonton
4 H$ B, ?# W. f% P" u* W4 {2 L% Qremained the hub of activity for those coming to work in the oil industry,0 |* W# t+ M& c7 v; k& c
maintaining tight inventory levels across the city, resulting in prices2 p7 ^7 U* X8 k0 v
increasing at record levels. However, as inventory levels continued to improve) ?. [9 P: k, e- }# u( s  C! H& L
in the third quarter the rate of price appreciation should moderate slightly( q; [: W, j8 b- ^, e( v
towards the end of 2006.
   
) ?) x* k0 b5 z  F& c8 u+ V3 K; R+ f* ^" v( r
While Vancouver has seen a slight reprieve from the severe shortage of5 @' C; a4 r6 l% j
inventory that had previously characterized the market, supply is still unable
0 O% x* u* i: S7 q4 A% Pto meet demand, driving house prices upwards. Vancouver has a very diverse
3 q4 I% U8 y  ]7 l5 }group of active buyers - from first-time home buyers to baby-boomers to
  c7 m# o, S- K% P3 A0 i; N) dforeign investors - all of whom fuel the demand for houses, placing added- k' {- _  _, {
pressure on tight inventory levels.
% }7 X7 h. F8 e0 G
3 |7 W( u% Y8 p( ?; y' r    Victoria's market is vibrant and supported by strong economic5 K8 f# Y3 I3 u
fundamentals, fuelled by a booming tech sector and a migration of young people- V* H3 ?" x3 A- v" J8 M5 ]
into the city that has continued to support the area's house price increases;* J, `! c" o0 S( }0 ^1 i
while increased inventory levels have afforded buyers more time when searching
4 e. r& j1 G/ z5 Rfor a home, helping to normalize the market's pace.
( m) E4 G" w3 x$ q* B  ~$ Y( ^) u6 o' W
    <<9 W- ~0 W2 v2 c8 r  j2 H
      Survey of Canadian Average House Prices in the Third Quarter 2006
! n$ z  D. J. P
. |. g( B7 x  E8 G$ t1 H8 Z6 i  i    -------------------------------------------------------------------------3 Q* `; N+ P: v  M
                 Detached Bungalows                Standard Two Storey
9 a7 [$ V2 b6 b    -------------------------------------------------------------------------
* f3 J* A$ P- ~6 |2 q* W                     2006 Q3     2005 Q3    Bungalow     2006 Q3     2005 Q34 j6 z& t$ D# r5 }7 ^6 `
    Market           Average     Average    % Change     Average     Average
  E* W7 h0 L$ Y& ~0 L8 K9 [    -------------------------------------------------------------------------1 [5 S4 e$ Q/ ^! ~; P1 I' k* \
    Halifax          186,333     173,333        7.5%     198,667     199,0002 Y: ^& E; s. N/ g0 ?) r
    -------------------------------------------------------------------------" {! }- ^" C) u- H+ E3 l  C/ g+ p
    Charlottetown    145,000     141,000        2.8%     175,000     170,000
+ H7 V, |1 _; V+ }6 W2 [    -------------------------------------------------------------------------; z0 d# v- x0 `9 |
    Moncton          135,000     127,000        6.3%     129,000     123,000# T; w/ a! q- f& J/ ]+ T
    -------------------------------------------------------------------------" s5 y" v3 U2 y4 p/ g' a
    Saint John       141,200     142,900       -1.2%           -           -8 H. k& d8 S7 e6 `6 ^
    -------------------------------------------------------------------------# M$ n$ i8 e2 I+ E5 z- R& C
    St. John's       143,667     142,667        0.7%     200,667     202,3339 Q* s; Q/ I( G! u/ b6 T' {$ o
    -------------------------------------------------------------------------0 p, D* U) y( E# Y
    Atlantic         150,240     145,380        3.3%     175,833     173,583
" V4 A  h1 l/ y4 k$ ~0 h% H, g0 T    -------------------------------------------------------------------------
4 o' E! ]* f# ]    Montreal         213,691     203,500        5.0%     321,141     316,1851 \) u1 ~' E: |9 |$ D
    -------------------------------------------------------------------------
5 b1 }( n, x" A9 Y+ ^. w) S    Ottawa           290,083     278,417        4.2%     285,667     273,250
9 ]5 I& z9 b7 Z3 M5 e8 J    -------------------------------------------------------------------------: m& W8 T1 w+ Q1 m
    Toronto          373,368     355,882        4.9%     481,523     474,766
* r+ a+ ]: j( K9 m% H    -------------------------------------------------------------------------
$ p/ @( X& k" ]' Z1 [0 e( P5 g8 C: ^    Winnipeg         181,579     159,860       13.6%     202,337     180,707
' i: ~  V0 {& ?; s* S* @. I    -------------------------------------------------------------------------+ M: n/ v( A: T
    Saskatchewan     170,667     156,083        9.3%     182,600     166,500% ?( O  x# [  m' r* E- |8 U+ M" ^
    -------------------------------------------------------------------------
* j, N3 b  M2 Z0 D. w    Calgary          395,067     252,411       56.5%     405,778     264,389
# ~7 p! w, Y; O  `& u    -------------------------------------------------------------------------+ N8 t1 p, M0 m0 `% O( {
    Edmonton         286,857     194,857       47.2%     316,429     206,7147 {7 s$ ^; F. U3 ]! m1 T. y. t+ \$ L
    -------------------------------------------------------------------------
" r5 v; i! ~: V' z, N8 Y/ ^3 t    Vancouver        704,250     601,000       17.2%     794,000     697,500/ d0 j6 G0 b7 E  l
    -------------------------------------------------------------------------
6 A2 R! o1 a, `3 K3 [8 i. `2 ^. W    Victoria         375,000     348,000        7.8%     403,000     391,000
1 T+ p! Z( ~! J' M7 p. I6 E9 c    -------------------------------------------------------------------------
" l1 I: p4 i7 l    National         300,365     258,202       16.3%     365,380     322,8602 J4 q* o3 I2 Q% A4 }6 p( @
    -------------------------------------------------------------------------0 q0 \' ~. ^) B+ M3 `0 z
0 d1 Y6 Q" g8 n. m2 U# `* s
    -------------------------------------------------------------, J- h1 H* R7 r% t9 Q! q  C1 N
                               Standard Condominium
- }* m$ ]1 |6 N- Z. U! p    -------------------------------------------------------------
3 C5 `, r" r4 _$ Z, k; \                    2-Storey     2006 Q3     2005 Q3       Condo: K: Y' d7 `+ L. W
    Market          % Change     Average     Average    % Change# S" @$ A2 A3 P8 F0 J- ^
    -------------------------------------------------------------( X0 f5 j" R2 W( j
    Halifax            -0.2%     142,000     103,000       37.9%
. R$ b8 L+ d. \" o    -------------------------------------------------------------6 G0 g; U! N% @1 [) k. H+ r& _' p
    Charlottetown       2.9%      98,000      98,000        0.0%
# f/ G" K! @7 t2 r1 A    -------------------------------------------------------------4 _( L" E! @3 d* D) o
    Moncton             4.9%           -           -         N/A; |: l. j/ o, S) G2 Q6 K0 t  X
    -------------------------------------------------------------
5 |% Y' X' n0 N1 t8 {    Saint John           N/A           -           -         N/A
7 [$ ]- ?2 J7 x. N' P6 \    -------------------------------------------------------------
7 u+ {4 f; n6 v. J) Y    St. John's         -0.8%     146,333     145,667        0.5%  \1 {6 Q7 l. a  F; P0 g0 i
    -------------------------------------------------------------4 B4 }/ @0 ^' y6 l/ `
    Atlantic            1.3%     128,778     115,556       11.4%
7 g8 G2 L0 h4 @( h& E    -------------------------------------------------------------% [9 }3 h& M( v2 j9 {$ C0 ~' c
    Montreal            1.6%     193,190     188,016        2.8%6 Q6 d7 T7 o0 h- O0 V1 Y* q& h
    -------------------------------------------------------------- a. r1 H1 d2 L7 Y( o3 ?& D, b
    Ottawa              4.5%     181,083     172,250        5.1%
7 i7 G4 h8 X( [: M( Y) P# O! A    -------------------------------------------------------------
% p" e0 {1 h' _/ Z$ P! c    Toronto             1.4%     252,088     242,918        3.8%! A$ X2 c# X9 t$ t4 V3 `
    -------------------------------------------------------------7 Y  J6 B. o+ |+ U  ^5 y
    Winnipeg           12.0%     105,648      96,008       10.0%: ?0 Y% I" O- T# e
    -------------------------------------------------------------
, i& x0 h0 C$ T9 _6 t1 V! P    Saskatchewan        9.7%     106,250     101,000        5.2%- e' Z# M( [5 V9 G: J9 c
    -------------------------------------------------------------
) b* \( D# b; y. V" u; p2 G    Calgary            53.5%     245,844     153,867       59.8%; @" p- D# ^% x3 C3 ?
    -------------------------------------------------------------% x& F1 M" k- M! X/ Y. I% P& h
    Edmonton           53.1%     200,433     131,500       52.4%
2 c; Y6 k# Y/ R7 G    -------------------------------------------------------------1 G& C* D1 c5 P+ r6 A
    Vancouver          13.8%     366,250     323,250       13.3%" P. i) f2 l4 R
    -------------------------------------------------------------
  P$ F; `& h5 V( J- o4 B0 j    Victoria            3.1%     229,000     220,000        4.1%
5 [% {  A! n1 F) k, o, B    -------------------------------------------------------------8 ~! L# u0 m! c  x* z9 U1 b
    National           13.2%     211,562     185,296       14.2%/ i! ?9 y5 A5 _1 r7 d
    -------------------------------------------------------------
# n! A  x8 n8 J5 x( T, v0 a    >>* ]6 g3 D% ]5 N* Q% c) a

/ d6 {+ Q. m  L! m8 G( S    Average house prices are based on an average of all sub-markets examined
' Z$ q, B( c2 T- R1 ^in the area, except for the smaller markets of Charlottetown, Moncton, Saint4 f! B) a: o: l9 J; j
John and Victoria.) e0 X) b! }- e" c
& D% Q1 [( v  K( l3 b
    The Royal LePage Survey of Canadian House Prices is the largest, most* q& q% e  z' K- n0 w
comprehensive study of its kind in Canada, with information on seven types of2 U& u% ~( _5 ?; g" X' l1 D
housing in over 250 neighbourhoods from coast to coast. This release
& F* L6 C3 e) m/ sreferences an abbreviated version of the survey, which highlights house price
+ p/ l9 i& l. `! ?- b% C; a) |/ ltrends for the three most common types of housing in Canada in 80 communities7 D0 v* |; f/ Y; i- r$ _
across the country. A complete database of past and present surveys is7 Z6 C' d3 R; U) v
available on the Royal LePage Web site at www.royallepage.ca, and current
+ y7 @; r1 \$ X( I! ^+ `figures will be updated following the end of the third quarter. A printable
, ]  T; U& O0 n4 I/ Lversion of the third quarter 2006 survey will be available online on* M) Z7 E. [4 f
November 15, 2006.9 P; `( e* i" x3 U6 w
    Housing values in the Royal LePage Survey are Royal LePage opinions of! T2 Y" N7 A1 L4 [# X8 C
fair market value in each location, based on local data and market knowledge
/ u6 f. t4 Q2 y9 g+ F7 p# uprovided by Royal LePage residential real estate experts. Historical data is
4 O8 L0 v: O! d1 Ravailable for some areas back to the early 1970s.
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