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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 3 O2 D( j, {3 C% V+ L* z5 ^! b

0 H: g' s& M, Z. E- Country's market poised to show growth throughout 2006 -9 @0 s+ a( V& v# \$ U
9 N4 ]% Y6 L! E- S' Z6 [, A
    TORONTO, Sept. 28 /CNW/ - For most of Canada, the housing market& s' n+ o3 ^* T, X' Y8 X' T
exhibited moderate price increases and stable unit sales during the third
# r- s/ @; H% n$ y, ^quarter. Wide regional variances continued to be the dominant characteristic
/ S( L1 q: e* m" R0 Qin the market, exemplified by frenzied levels of activity and double digit% X: K/ y" ~% Z8 \- t( M3 V% c% p  d
price gains observed in the energy and commodity rich Western provinces, and
! t' g/ I( I' b2 u. i4 ]8 s' r  ]$ Lmore reasonable sales volumes and moderate price appreciation in Ontario," h$ p( t! h* y) B
Quebec and Atlantic Canada, according to a report released today by Royal
. x4 L& j: T6 SLePage Real Estate Services., c2 _1 U$ }: o: o& L) ~% p% F' D

. g5 u" t  Y1 @, w    Nationally, market trends established through the first three quarters
% t' `1 C5 o0 F7 Z# V" jare forecast to continue for the remainder of the year. Robust economic1 @$ F1 E! u4 l: X1 k
conditions, low unemployment rates, modestly growing salaries and wages, and
, q# t6 s- V) O: {1 `sound consumer confidence contributed to the overall strength of the+ p( V, w: X% J9 G5 k7 ~' [
residential real estate sector.
0 Y, N1 T+ {4 @( Y. K
, r) {* n( f" \. e    Of the housing types surveyed, the highest average price appreciation
" m, a% Y& m4 ?) Zoccurred in detached bungalows, which rose to $300,365 (+16.3%)
8 [% u  ~- R- u  P$ E* pyear-over-year, followed by standard condominiums, which rose to $211,562
3 ]6 X, u6 Q  y9 k+ L  z(+14.2%), and standard two-storey properties, which increased to $365,380: j" Y. k3 z5 R5 P0 m7 t4 K9 p
(+13.2%).
5 k( u& P( J& _  `. X: X8 I% k* D3 [- H, T
    "Canada's sturdy housing market continued to demonstrate steady growth$ W# b( g+ n# w
during the third quarter. For all but the west, we have moved on from the; b& g6 K" ~  ]) m, p
frenzied expansion that characterized the first half of this decade, and are4 N+ t/ b7 [- u. o7 T" [
poised to show continued growth at a more moderate pace," said Phil Soper,
$ [5 s+ O* f4 k2 Opresident and chief executive officer, Royal LePage Real Estate Services.
3 A" h) [7 T* T& ~! F* N7 s( U"Gone is the sellers' market that we have lived with for some years. We
9 V: c& K: C' z$ awelcome the more reliable conditions that are characteristic of a healthy
# w3 X% \, A3 m' v9 l0 N. wbalanced market."
  F4 O* }" o; P2 ~* ]3 R7 z; r
8 t: b+ L6 Z2 h    Despite the double-digit rise in average national house prices," u! b9 J  Y+ ~) \" M4 p5 l1 i
considerable regional variances were exhibited again this quarter. The shift. m; w$ M( r; W- R& O
to balanced market conditions, which began in late 2005, has continued/ u0 ]$ x( R# s
throughout most of the Central and Eastern regions of the country. In the core
& |4 V! f$ V" h$ eenergy producing western provinces, the combination of very high in-migration,; o& m6 J- O1 F/ k+ A3 O$ K; Z
manageable affordability, and a shortage of inventory has driven record, k9 h- W' @: S. V2 U
breaking price appreciations.
, ?9 Y7 t' u0 G/ D
/ _& f3 H* ?9 k) e. h' s    Echoing the second quarter and supported by Alberta's rapidly expanding
4 C  _4 |  S+ }) k0 {- |7 heconomy, Calgary and Edmonton led the charge of Canadian cities with the+ c3 x  Q. H% {
largest house price appreciation in all housing types surveyed.: `$ T- Q* t: ^; g, X% t
7 k$ f: Q/ r$ ~% z# F6 i
    In Ottawa and Toronto, growth remained steady, supported by solid
3 s0 \! O; ]8 h  X- [# a4 xeconomic fundamentals, an increase in available inventory and strong consumer2 b7 m2 w3 X0 I/ X2 d
confidence. While the pace of price appreciation in Ontario leveled off
* P% C1 H. ]' l( {& I* V( f7 |- R" eslightly, the province's real estate market remains poised for modest growth.: y, Z7 ?, x% o+ q; _; T8 \
In Atlantic Canada, new housing and condominium construction offered buyers5 j+ N; \' |' w# |5 w, z) L3 M7 P% P/ j
greater selection at more competitive prices, resulting in a slower rate of( [; D, {! g$ Y5 t8 l
price appreciation when compared with 2005.6 @% X- [* u% }4 S0 \
4 P# W- Y7 \2 l$ u* f; V) D* l( x# y
    While the pace of growth in Canada has slowed, the domestic housing
" I7 w, J, v( m. ~2 wmarket is expected to outperform the American market. The economic and
  O* C. O3 b6 J6 {financial fundamentals driving the residential real estate sector in Canada5 r/ g; G$ Z% @( ^$ J
are markedly different than those found in the United States.
0 w+ K1 y& n2 n/ i' W% m  e' T( l: i8 Y7 H- \9 C7 A8 {+ B
    Added Soper: "Canada's housing market is likely to outperform the6 Z  ^( N. t: X
American market through 2007. A number of factors are working in Canada's
$ @. ]3 R- B. t& w, Rfavour, including healthy personal and governmental debt levels, the
# ]. {0 k  B2 x1 o' ]' C% v; mrelatively modest rise in interest rates in our country, and general
0 G* W( f* X2 f3 G# Baffordability in our major cities. In addition, Americans are now seeing the* `8 T/ N& }9 ]7 ^) M/ O1 w
downside of a tax system that encourages maximum homeowner leverage, and
" \* j$ \& e+ K4 Laggressive financial products such as zero- and negative-amortization
' j! M- ?. c1 k) @, J8 Omortgages that work only in a high price growth environment."
+ d: A6 e; J, V3 r9 g* b# i/ W% w# P5 G: {2 m" {) p+ w# m; Z
    <<& s$ C6 d" P6 o* g) s
                             REGIONAL SUMMARIES
; p' x1 Z. E& @! u- V1 U) z7 ^    >>
5 q% |: n" X4 }! ]2 \$ A  A3 o1 E. T; p* L
    Balanced conditions continued to characterize the housing market in
8 q! a$ ?3 l* `7 c' p# ~+ w  gHalifax, as significantly higher inventory levels helped to moderate the rate1 O- D" R/ s/ F& @& T: u
of price appreciation. Buyers were increasingly choosy, taking more time
5 P5 J/ ]0 H& r. [looking for newer, low-maintenance properties that were not in need of
: A2 }7 [& w; urenovations., b# a$ B8 V: F; b3 Q1 ]

* c; `  _; j1 m" `% U) }% G8 e0 _    The housing market in Moncton remained healthy and strong as a slight1 p9 z4 a' E, `3 g
increase in inventory helped to moderate the rate of price appreciation
9 ]' k; |. T- F$ l: Zcompared to the same period in 2005. Activity was brisk throughout August and: P- ~: b+ K( Z7 @" V
September and is expected to remain this way through the fourth quarter.- V6 P% _4 c, c* r/ A/ G! [( H1 Q
; M! d' D0 d7 N0 c* F4 V
    The housing market in Saint John underwent its traditional summer& X7 I. F5 g. J5 r+ J
slowdown in the third quarter, with activity picking up towards the end of the1 ?3 x3 D) x3 I
quarter. The local economy continued to thrive, as construction on a new
$ @! S$ C  s  |6 J6 S, a600,000 square-foot shopping area has begun, bringing several new box stores& M! |/ \& Z* w1 x) t& n1 T6 B
to the area. Buyers have begun seeking less expensive fixtures for their homes( y( j8 t6 X4 V0 w+ T5 U
and are instead opting for more affordable housing options.2 _( C& u: I# c% ]

. h5 T; H6 P0 I    In Charlottetown, the housing market started to move towards balanced( L8 s, ~+ o$ l+ Z- i3 o4 x- P4 ?
conditions, as some sellers had to begin to lower the asking prices on their7 @8 V2 A8 ~- f$ J+ Q% G
homes to make them more competitive. Activity from out-of-town and US buyers) C% `4 K0 d8 e. k
was down slightly compared to 2005, likely attributable to the strong Canadian
, s8 D) K! K' N7 S: Kdollar. Inventory levels began to creep up in the third quarter, providing
' o9 b. h' s1 s& Q$ p1 e, C" Jbuyers with more options when looking for a home.0 O) [3 O0 ]* Y* \: v

# B, W+ b8 z- J% U. _, X    Activity in St. John's slowed slightly in the third quarter, particularly
, ]( v/ ^( t7 M+ T6 N7 z5 g  Z* eamong higher-priced properties, where there was a slight over-supply of homes; E/ p; ]+ r' ]0 [! g( h6 w+ G
priced over $200,000. Listing periods have increased when compared with 2005,0 v; }8 N& A1 H
as some of the pent-up demand that had characterized the market over the last
; q! K# v8 H' ]* `4 ^few years has been satisfied, resulting in more normal, balanced conditions.! u& p3 O  }+ p& ^
* \, m! q7 ?( v% s7 ?
    Montreal's housing market recorded modest increases in average house+ ~; X  i- c1 K8 z% w2 D
prices, due to a slight seasonal slowdown in the third quarter as inventory( v; q2 ~) {; t- c$ D1 S
levels rose. Part of this can be attributed to the fact that many renting+ O1 G/ E4 v, _- e2 i$ L, @/ F
first-time buyers were motivated to close on the purchase of a home by July 1,
0 k1 |  k; L) p2 Fwhen rental leases expire in Quebec. Once this date has passed some of the  L5 U( p. D+ A6 D
pressure is taken off the market, allowing buyers to visit more homes before
+ K. t+ A0 ^" D( r) \$ j! X" [( ]+ Ymaking a purchase.
0 h7 ~; i' M/ R* D% F- ^1 t5 A& o2 i! [; K0 j+ ~3 @
    Ottawa held its position as one of the country's most stable housing
/ c6 e1 J( H: `& _9 wmarkets in the third quarter, reinforced by a vibrant local economy and strong; [% p; M3 D% j8 H# d2 T
confidence, resulting in modest increases in average house prices. The city1 s2 r! t1 K5 l# \- `5 M
centre remained a bright spot in Ottawa, with homes in this area attracting
& h% h& u( u4 {6 E5 wattention due to their convenient location and proximity to downtown- R5 P5 ~8 e% @( m7 u" F! Z
amenities.* w/ O( [( a" t. M5 K8 J

: {/ I, k: c. p- K! L    The housing market in Toronto sustained healthy activity levels
$ n2 L! ]# z  T- Y$ Q7 f' gthroughout the third quarter, as a strong economy helped to maintain demand
4 [- a% _1 A3 M" [+ g. ^$ S# Lacross the city, causing average house prices to rise moderately. Toronto has* `' M7 C  }) y
continued to experience modest growth in average house prices, and has been
" h. s; ?4 m5 c+ b' rdriven primarily by purchasers who are buying homes as their principle
# \! A- \$ s5 Wresidence, rather than for investment.
7 r3 r: f* _; e/ R; W1 W. H- e/ g, h0 y/ x8 t
    The vibrant Winnipeg housing market continued to show its strength as
# v( V0 k8 `" ahouse prices rose during the third quarter. The booming local economy resulted+ Y, Q0 K2 Y. x5 ~4 G6 B- [
in a historically low unemployment rate, helping to bolster consumer
$ j: d' G% k  i) A6 R% Hconfidence and Winnipeg's ranking as the city with the lowest capitalization% M4 X, e0 f* C; P! `) O' n2 V
rate among the country's larger cities - helped to encourage buyers to enter
; ^( o& y' U2 H0 V# N7 N$ v! C7 Rthe market.
7 E! V- H2 d1 r' t" r; K2 i' A; h2 `1 L! |" E! E0 `
    In Regina, the market experienced a slight seasonal slowdown through
( j  ^# b; ~( L3 h9 G: }2 JJuly, as there were fewer purchasers in the market due to summer vacations. In
! |& `% z( Q4 J- T! W4 tAugust, activity resumed to the busy pace previously seen in the spring
/ Z* r+ Z6 ~( e% r4 o2 Kmonths, as the influx of purchasers made it more difficult to find a home due8 o( R5 i1 L4 @% K
to the shortage of available inventory.- o" X0 u$ l9 }

$ `7 X- }" T: S- s+ q    Activity in Saskatoon remained brisk as the market maintained its+ j0 i1 z5 E' O, b; l( \1 e
momentum from the busy spring sales period. The economy in Saskatoon remains
* A" l: z' e& o( |2 ivibrant, as employment opportunities are abundant with many businesses
! E0 [+ _, E% D6 }struggling to make hires and having to recruit outside the province.
, [, D  n! q5 z0 z8 n7 |8 N1 H- ~# S4 g! v( U5 b& q
    Calgary's housing market recorded blazing average house price increases' E& j  |, |$ v2 |# G4 d
in the third quarter, in all surveyed categories. The burgeoning economy, low
- u& Z# R# I* K6 N! Punemployment rates and low inventory levels remained the leading factors that! P  K( g; M2 C
pressured Calgary's house prices upwards. However, regardless of the soaring
0 J8 p7 Y3 e+ i- b: ?prices that characterized the market - even during the typically slower summer3 e+ j  _2 L& n% \' }; Z$ P
season - it is expected that activity will become slightly more balanced, as
8 D  y, k& K3 Y1 [4 p- v' Dbuyers are becoming more reluctant to participate in the frenetic activity.
* T2 k9 a: G6 ^2 e  `2 m
) \& j8 P* R+ j% ]7 F
    Edmonton's booming local economy continued to thrive in the third quarter  _) H+ l2 Y0 o
as activity in the oil sands north of the city continued to flourish. Edmonton
" C0 \; g* a: A. I2 premained the hub of activity for those coming to work in the oil industry,
7 Z$ l8 E2 F. H7 f" N3 tmaintaining tight inventory levels across the city, resulting in prices
* P5 K6 ^# s& H8 p, e, j  Vincreasing at record levels. However, as inventory levels continued to improve
! v$ m6 J/ Z! v' N& `0 }4 v, nin the third quarter the rate of price appreciation should moderate slightly7 @' y/ j; Q0 z. |4 R- ?; n
towards the end of 2006.
   
: N8 q8 v& d2 `. }$ u/ R& V7 a( I3 V# W0 ^$ p: {& t9 f: E
While Vancouver has seen a slight reprieve from the severe shortage of. j+ Y5 \7 b: f0 k* f" _' g; P
inventory that had previously characterized the market, supply is still unable
7 [3 A7 [0 T2 D) P" ~2 pto meet demand, driving house prices upwards. Vancouver has a very diverse
6 G% l+ Q! `* a' h0 ?group of active buyers - from first-time home buyers to baby-boomers to/ P, T& s+ ~: I' _
foreign investors - all of whom fuel the demand for houses, placing added: p6 e) H( U- T1 B" P
pressure on tight inventory levels.6 d  t3 i9 C  P) B6 |5 d0 e

( u. K& S1 _) B( m7 j    Victoria's market is vibrant and supported by strong economic: s5 ]* V. w* ?! P; q% x3 O
fundamentals, fuelled by a booming tech sector and a migration of young people2 w# v' o2 _1 \) \1 I
into the city that has continued to support the area's house price increases;
5 b& b- {( d  \8 `$ O" c  ]; Awhile increased inventory levels have afforded buyers more time when searching8 O- ]$ V; A, E3 R- u5 ~9 v
for a home, helping to normalize the market's pace.
! f- L. O% L3 j$ g  R2 F# f$ P
% W+ J4 }  L4 {- h) v    <<1 [( j7 n7 ^6 `) H" g
      Survey of Canadian Average House Prices in the Third Quarter 2006
5 Q6 R6 }8 E9 A$ f
+ J8 m5 z, C- I0 E9 c' ^    -------------------------------------------------------------------------  e) j$ V: s) h3 l
                 Detached Bungalows                Standard Two Storey& G" w) U7 [2 Y4 t" Z; k+ ]( w
    -------------------------------------------------------------------------
7 `! l1 M" z9 q6 z: m                     2006 Q3     2005 Q3    Bungalow     2006 Q3     2005 Q3
) G  z1 @" B' E5 Y0 C2 F    Market           Average     Average    % Change     Average     Average
$ h. w% z1 t$ D5 _! N8 L1 l    -------------------------------------------------------------------------
% r( g+ H% {: E- n    Halifax          186,333     173,333        7.5%     198,667     199,000% M+ g/ Z8 D' p, l7 s( X
    -------------------------------------------------------------------------, f& ~* r! O9 ~4 L# m( i1 h
    Charlottetown    145,000     141,000        2.8%     175,000     170,000
, b5 ?8 s1 @- l8 a0 X3 c    -------------------------------------------------------------------------
# {" g8 T& V0 H: m2 L; G    Moncton          135,000     127,000        6.3%     129,000     123,000
1 o5 g- w& {) c5 U2 ^; s    -------------------------------------------------------------------------
0 i1 S$ r+ S/ b1 }! d    Saint John       141,200     142,900       -1.2%           -           -& F; V/ U% m3 c& [( A  T
    -------------------------------------------------------------------------  [& |, q  {5 j+ w& X: f  Q  }1 |2 n0 j
    St. John's       143,667     142,667        0.7%     200,667     202,333
5 I& M6 I$ b# p1 x    -------------------------------------------------------------------------
( Q  [! t1 c6 q2 v    Atlantic         150,240     145,380        3.3%     175,833     173,583& m5 I7 J; P6 f
    -------------------------------------------------------------------------8 V9 R0 b- V% J4 ~$ \( q. s7 `. z7 C
    Montreal         213,691     203,500        5.0%     321,141     316,185, Z* J9 D$ K: X. }0 D
    -------------------------------------------------------------------------
& P1 p/ ^) V8 j: l+ p/ q+ s5 h" H    Ottawa           290,083     278,417        4.2%     285,667     273,250
" }: V: b6 u$ i' J6 q) }    -------------------------------------------------------------------------) E- S; D5 e( E. M
    Toronto          373,368     355,882        4.9%     481,523     474,766, h9 _3 F0 H) b/ \, p) y
    -------------------------------------------------------------------------# m5 X+ W1 ?# j+ `: \5 t
    Winnipeg         181,579     159,860       13.6%     202,337     180,707
) I/ W/ G/ i; |2 V    -------------------------------------------------------------------------
' P3 d7 F/ [+ X    Saskatchewan     170,667     156,083        9.3%     182,600     166,500
8 F$ c" U, [3 t  C. k    -------------------------------------------------------------------------
3 S$ B: u- c  V$ {% Y    Calgary          395,067     252,411       56.5%     405,778     264,389. B- v5 V' Y, r- F1 h; A+ _5 V. B
    -------------------------------------------------------------------------: I* d# X. i. [6 i+ e# _
    Edmonton         286,857     194,857       47.2%     316,429     206,714
) ?# C% @& V/ w2 ]0 ^/ B9 B    -------------------------------------------------------------------------: e4 t: g6 B& H2 k
    Vancouver        704,250     601,000       17.2%     794,000     697,500' u9 U: {! j& B. H9 ~
    -------------------------------------------------------------------------9 u) P1 t# e/ a- L
    Victoria         375,000     348,000        7.8%     403,000     391,000, }8 l+ C" D1 t. L( S
    -------------------------------------------------------------------------
0 L+ D& v9 m; u    National         300,365     258,202       16.3%     365,380     322,860
. r8 ~. x! y1 B$ L- D3 }1 N. G" b    -------------------------------------------------------------------------
* D: o( ~' W' M2 f0 O9 f9 \( K' r6 H3 l' j( e
    -------------------------------------------------------------
( n2 I. U/ u/ I3 B                               Standard Condominium8 C  y9 }1 C" }3 |! B5 P- U
    -------------------------------------------------------------  w' \- M+ q4 K5 ]5 b4 P
                    2-Storey     2006 Q3     2005 Q3       Condo) A# w  P/ M: b- T2 D6 d6 C
    Market          % Change     Average     Average    % Change+ @( t' M: T$ a0 q3 h" X% u
    -------------------------------------------------------------' M, o% j8 }& T( ]
    Halifax            -0.2%     142,000     103,000       37.9%2 A/ x4 c4 V. d% O+ Z
    -------------------------------------------------------------; V; B8 v* R1 T6 ^
    Charlottetown       2.9%      98,000      98,000        0.0%
' r% j$ a9 w: D3 X/ k( ~    -------------------------------------------------------------6 O" T6 ~# n/ V$ I
    Moncton             4.9%           -           -         N/A
3 ]" K0 [: P% i8 ~- n2 q7 e" k    -------------------------------------------------------------! L3 C5 S9 L* m
    Saint John           N/A           -           -         N/A
( W9 _: e0 A' N- j- O) f    -------------------------------------------------------------% z7 b9 \$ @3 m" q+ N2 `2 b
    St. John's         -0.8%     146,333     145,667        0.5%2 B) n8 {8 ?/ O1 W, ^, d# E+ b2 W
    -------------------------------------------------------------) C+ E& T$ [  @" H# @9 t- l# v
    Atlantic            1.3%     128,778     115,556       11.4%: h2 {2 s6 ^. b0 i5 h
    -------------------------------------------------------------
* ]* _/ O+ G$ c/ h. s# m; \    Montreal            1.6%     193,190     188,016        2.8%
' N# n! r3 e0 ]8 d    -------------------------------------------------------------
2 Q3 K, F: {8 O    Ottawa              4.5%     181,083     172,250        5.1%3 i3 j' `/ T/ _" D  O
    -------------------------------------------------------------0 g. `( g: N) L
    Toronto             1.4%     252,088     242,918        3.8%/ S0 I4 s: F0 `
    -------------------------------------------------------------
9 c* F$ p7 P1 b3 B* q2 a    Winnipeg           12.0%     105,648      96,008       10.0%
1 C  I3 E, j) h- M. E' b, L    -------------------------------------------------------------
0 H, _  _' R" _7 H    Saskatchewan        9.7%     106,250     101,000        5.2%
& C7 [( W6 m. r# Z; l) k    -------------------------------------------------------------
3 }- S  ]5 d+ N, w/ q    Calgary            53.5%     245,844     153,867       59.8%
& D1 D* d, O2 y6 z, m% ?    -------------------------------------------------------------
. Q: B0 a5 k+ x3 v' O    Edmonton           53.1%     200,433     131,500       52.4%/ l; r' ?" b7 i- ~4 F, f0 l
    -------------------------------------------------------------7 m0 A) I8 d6 i* r' W7 a1 e4 D
    Vancouver          13.8%     366,250     323,250       13.3%$ j9 Z5 f$ h0 d+ O4 u& H
    -------------------------------------------------------------/ L: v0 g* ~4 Z4 ?" a4 U" @
    Victoria            3.1%     229,000     220,000        4.1%! U" V) p' o# b& @
    -------------------------------------------------------------2 I5 r8 q9 U5 A/ _9 C
    National           13.2%     211,562     185,296       14.2%  c4 M5 J' r2 m4 e
    -------------------------------------------------------------' p2 f1 k% A0 E9 y0 Q
    >>8 d: L) z% g. x8 y
& F! K* V7 V' s1 `5 I" l
    Average house prices are based on an average of all sub-markets examined
& E7 a$ N# D) A  ain the area, except for the smaller markets of Charlottetown, Moncton, Saint  L9 M* h$ ?. {5 k6 J  x+ f' v: ?
John and Victoria.$ @% U5 p: b: G( X4 K

& D$ M- |" c  Y, s: u    The Royal LePage Survey of Canadian House Prices is the largest, most4 e/ y! z/ S) \0 t( V1 ^
comprehensive study of its kind in Canada, with information on seven types of
3 k) G4 |6 w" ~9 d( ehousing in over 250 neighbourhoods from coast to coast. This release" d; d* J$ q  A/ g1 M3 a# A
references an abbreviated version of the survey, which highlights house price9 K, c) D. C: H! G  O( M
trends for the three most common types of housing in Canada in 80 communities- b  ~/ q) e% u4 o1 b
across the country. A complete database of past and present surveys is3 I) i! V4 ^8 i# _* d* ~( H
available on the Royal LePage Web site at www.royallepage.ca, and current
  i9 R& R" p4 c: e! v6 Zfigures will be updated following the end of the third quarter. A printable
5 x8 @1 V, p) u4 c1 t% Lversion of the third quarter 2006 survey will be available online on" {* C! q) R* ]+ D, m: X
November 15, 2006.+ Z' `: G% j, y0 K" c+ N
    Housing values in the Royal LePage Survey are Royal LePage opinions of
2 Q1 j7 o/ ~0 q! `fair market value in each location, based on local data and market knowledge
& s- w* R7 N+ [5 w% Gprovided by Royal LePage residential real estate experts. Historical data is9 B% Z1 F# H; ^
available for some areas back to the early 1970s.
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