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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 1 M0 I' H8 Q  s! W; j- }( w6 w

4 F' Q6 d5 X6 U( z( G& g: {- Country's market poised to show growth throughout 2006 -9 b3 I1 G( A, d/ @; B

1 B" r: W( B& d2 W4 ^3 |# J    TORONTO, Sept. 28 /CNW/ - For most of Canada, the housing market
2 C& o3 C( J/ z2 G9 l- p! |. }exhibited moderate price increases and stable unit sales during the third
' r* v) l) N9 dquarter. Wide regional variances continued to be the dominant characteristic
7 y! P$ v9 m- nin the market, exemplified by frenzied levels of activity and double digit
+ E" U6 w' n2 D' v( t& o: a) E2 Dprice gains observed in the energy and commodity rich Western provinces, and
1 M% H4 d. O9 t: Rmore reasonable sales volumes and moderate price appreciation in Ontario,- Y# E! O' K! f9 t7 p5 H
Quebec and Atlantic Canada, according to a report released today by Royal
9 b" ~' R! p/ _! RLePage Real Estate Services.
# o9 j3 M5 ~: B5 s5 |( m% p& y- m$ q, {  }
    Nationally, market trends established through the first three quarters
5 d! S5 b+ W5 Q& L5 _! qare forecast to continue for the remainder of the year. Robust economic
  \$ H+ a; o" L$ rconditions, low unemployment rates, modestly growing salaries and wages, and
' J* I$ G, D7 Y. F/ _! f( vsound consumer confidence contributed to the overall strength of the
2 o% V( d$ l8 r" h# ]5 K8 [# b' h$ Mresidential real estate sector.
8 w1 X2 q% O  F' ]+ G/ k% j2 ]6 F) X; T& i
    Of the housing types surveyed, the highest average price appreciation) T5 ]. N& ?5 P7 v0 n( ?
occurred in detached bungalows, which rose to $300,365 (+16.3%)! p2 V, `, B( u7 Q: K
year-over-year, followed by standard condominiums, which rose to $211,562
- h; P7 r+ y, a" ]) ~(+14.2%), and standard two-storey properties, which increased to $365,380- s6 ], ?- C- Q; `
(+13.2%).
2 o5 y& b$ t3 D- m8 R/ H
+ t: \; |, \  ?& e    "Canada's sturdy housing market continued to demonstrate steady growth, `2 E/ q- Q  B1 k) k
during the third quarter. For all but the west, we have moved on from the% e5 b- O: S. o' f
frenzied expansion that characterized the first half of this decade, and are
* V; S# F3 y; G0 d% n) `* q- Rpoised to show continued growth at a more moderate pace," said Phil Soper,
; o# D0 S* T: A. C. F0 }president and chief executive officer, Royal LePage Real Estate Services.& i- U/ v+ Z6 Q, t
"Gone is the sellers' market that we have lived with for some years. We& _( o* o7 g4 A3 G
welcome the more reliable conditions that are characteristic of a healthy+ K6 y0 r1 o5 ?( U7 k: o0 G! C/ o
balanced market."
; D  x' j3 W+ d$ J. M6 ~4 u8 d3 J3 a, q- I5 q: p
    Despite the double-digit rise in average national house prices,
* _- K, q. q; |" xconsiderable regional variances were exhibited again this quarter. The shift+ W( F; D5 R# ]! p8 \& C3 a
to balanced market conditions, which began in late 2005, has continued
. [. O" x5 z# rthroughout most of the Central and Eastern regions of the country. In the core
8 o; X* k3 V/ M9 y+ N; L- wenergy producing western provinces, the combination of very high in-migration,
/ v3 o$ s0 k& G& n( m9 t  R# i/ Zmanageable affordability, and a shortage of inventory has driven record" j& W. d! x: U5 d5 R* U7 X( a
breaking price appreciations.8 ~$ ~  ?  R* \4 M2 n
: o4 P5 O( c5 R: F- ~
    Echoing the second quarter and supported by Alberta's rapidly expanding- m" W8 i5 P4 r" K+ }$ q* J! C
economy, Calgary and Edmonton led the charge of Canadian cities with the
1 s, s9 G4 E2 x  R. tlargest house price appreciation in all housing types surveyed.8 P1 t3 V, b. e0 A) A: o5 z+ N& q
. t- |, n+ G. `' i# s- f: ^+ L3 e
    In Ottawa and Toronto, growth remained steady, supported by solid3 D# P5 U1 ]! R, w' a$ N* {
economic fundamentals, an increase in available inventory and strong consumer  ~4 ?# w$ j& s# W
confidence. While the pace of price appreciation in Ontario leveled off% g, l  `3 Q; R. F9 E- q' N
slightly, the province's real estate market remains poised for modest growth.. _4 [3 M* n. Y" j7 J' |; A
In Atlantic Canada, new housing and condominium construction offered buyers$ [, e: V' V7 M; y+ e( T8 t% p
greater selection at more competitive prices, resulting in a slower rate of
" A, l7 K2 t! d  p( I/ j0 y4 sprice appreciation when compared with 2005.) z& o( J: ^( x

+ ^) S- C1 G6 w# G9 l0 G    While the pace of growth in Canada has slowed, the domestic housing/ {( B% [5 G# [5 f. I
market is expected to outperform the American market. The economic and. s0 j) ?9 \- N& z9 h9 d* V/ i* o
financial fundamentals driving the residential real estate sector in Canada. Y) H8 d' _! J* ~
are markedly different than those found in the United States.
& X0 A4 ]" s) A) @! e
( ]) b" {4 k5 o9 q. s, P    Added Soper: "Canada's housing market is likely to outperform the. V$ p7 g9 z5 ~4 ]
American market through 2007. A number of factors are working in Canada's  t6 ]1 ?, p" E! X4 v
favour, including healthy personal and governmental debt levels, the7 M& w6 h" J5 ^$ ?) V' p. u+ o
relatively modest rise in interest rates in our country, and general& Q8 _9 N" Z! q
affordability in our major cities. In addition, Americans are now seeing the
; Y" H0 G* `7 e4 a+ Ydownside of a tax system that encourages maximum homeowner leverage, and$ ~) B0 _! R8 Y6 V
aggressive financial products such as zero- and negative-amortization% G  T6 V' P. y) A* |% B, W
mortgages that work only in a high price growth environment."+ Y/ R( C1 k; n/ L

$ r6 E- C, o6 N- ]& f- [* B    <<
$ ^  e6 ]* A8 O  F' \, p, ]                             REGIONAL SUMMARIES
: y, Q0 R9 a& |( @    >>  w9 \4 Q# p4 L+ H4 D

; ~! F, L; M' b" w2 L2 {) h    Balanced conditions continued to characterize the housing market in- D3 f7 ~/ ^# `
Halifax, as significantly higher inventory levels helped to moderate the rate
' d5 Q3 I& ^$ ~of price appreciation. Buyers were increasingly choosy, taking more time
2 K7 r0 V! l8 T: U# f, \looking for newer, low-maintenance properties that were not in need of3 a/ \- R, G7 v- z: C
renovations.# k- C0 o9 N) v$ V

# H. x0 n$ \4 m' L    The housing market in Moncton remained healthy and strong as a slight4 a, u; e( Q# c4 {! u4 o* b) T. x3 _
increase in inventory helped to moderate the rate of price appreciation
; I6 r  {$ z+ p" D: vcompared to the same period in 2005. Activity was brisk throughout August and
/ q( ~, S+ G6 E  wSeptember and is expected to remain this way through the fourth quarter.
9 S1 x$ \% |! K6 f+ F) u7 N9 i' R% D, i+ W% M& D7 ^( Q( S+ Z
    The housing market in Saint John underwent its traditional summer
+ R& E# ^) i: n( g+ W9 `slowdown in the third quarter, with activity picking up towards the end of the8 d8 u1 U0 P/ N; e% i( S* L4 h
quarter. The local economy continued to thrive, as construction on a new
& C/ d+ R0 k9 o9 E600,000 square-foot shopping area has begun, bringing several new box stores
$ S" V) `( u( f1 r8 Sto the area. Buyers have begun seeking less expensive fixtures for their homes  E- [! w  Q. {4 J8 H
and are instead opting for more affordable housing options.5 a' ]/ s  j2 E8 ?( q, x' n5 ^
+ e, i7 r- H/ l5 ?; j1 h
    In Charlottetown, the housing market started to move towards balanced8 k1 [- G7 j: I; o) w* o
conditions, as some sellers had to begin to lower the asking prices on their: \. `! R$ N1 T9 C7 y6 T4 D
homes to make them more competitive. Activity from out-of-town and US buyers9 r# g; p4 n5 n; j4 C' v
was down slightly compared to 2005, likely attributable to the strong Canadian/ q9 l" ?  p: B" ?+ Q$ G" \% |
dollar. Inventory levels began to creep up in the third quarter, providing
2 q4 d5 h  V" r! M; f2 v: xbuyers with more options when looking for a home.8 A5 Q" d) c2 F2 n  d
7 s+ h' ]( _, u
    Activity in St. John's slowed slightly in the third quarter, particularly6 [* l. x( r% f/ V6 e) ~( ^2 x1 f
among higher-priced properties, where there was a slight over-supply of homes
: p; o" {* D* @( ^( \. p- epriced over $200,000. Listing periods have increased when compared with 2005,2 f$ g0 v2 E% e- G: k; z
as some of the pent-up demand that had characterized the market over the last3 @# K+ w" \  S0 o+ X. k9 R  {
few years has been satisfied, resulting in more normal, balanced conditions.
! K# b( Z; s) k0 T) ?! y4 r
5 q; K/ E" H9 H9 x& a, D6 P    Montreal's housing market recorded modest increases in average house
# M' c, H' w# c. d. fprices, due to a slight seasonal slowdown in the third quarter as inventory
& k& O- A8 a$ ]! L5 h# P# {levels rose. Part of this can be attributed to the fact that many renting0 N; N. D1 I8 r5 l6 R! x, k/ f
first-time buyers were motivated to close on the purchase of a home by July 1,' m, O. w" U& k' U6 Y3 ?1 _
when rental leases expire in Quebec. Once this date has passed some of the
# @4 P  F' h  {6 V6 Tpressure is taken off the market, allowing buyers to visit more homes before
8 N, t; ]5 d& R3 {% r8 u- Ymaking a purchase.# A& Z. Q; g+ k4 R
* I  `2 |8 z6 |
    Ottawa held its position as one of the country's most stable housing
6 _; p" f1 Q1 c- E. Wmarkets in the third quarter, reinforced by a vibrant local economy and strong
: ]9 W% ], N% @; t3 f7 {confidence, resulting in modest increases in average house prices. The city
& @" H' E* M4 Lcentre remained a bright spot in Ottawa, with homes in this area attracting
; {8 f1 i) i' C* q( L- N$ y3 T$ battention due to their convenient location and proximity to downtown
1 k1 A& S5 ~5 T8 y& M1 zamenities., w; |: F4 |1 a

$ x6 S- U+ B9 ?7 [( R    The housing market in Toronto sustained healthy activity levels( H" s4 l, M- E- P5 c, D3 B  r
throughout the third quarter, as a strong economy helped to maintain demand) V$ V; R" W5 W2 y! f- F5 u
across the city, causing average house prices to rise moderately. Toronto has) i  z3 X- ~& e% G& _% ^
continued to experience modest growth in average house prices, and has been
2 _" m1 |) g2 s, Zdriven primarily by purchasers who are buying homes as their principle2 P4 U8 O. u( U' _$ C- i" W
residence, rather than for investment.
+ K& S7 W8 q' @! S: u" o& P8 s- C$ A/ |: e5 Q
    The vibrant Winnipeg housing market continued to show its strength as1 e3 t7 M. b5 m9 b- H0 {8 @
house prices rose during the third quarter. The booming local economy resulted
4 _5 ]$ R+ @! r/ M6 _2 Cin a historically low unemployment rate, helping to bolster consumer
; e+ k3 p# v6 s" a( hconfidence and Winnipeg's ranking as the city with the lowest capitalization
& r- n+ s3 x& c) z: t. ?3 T# hrate among the country's larger cities - helped to encourage buyers to enter
5 u% w( _' e/ i, T* Y5 o! |. b) S* }3 Hthe market.1 f2 r  W; U7 C

, E  K5 m7 D3 o$ j$ y3 _    In Regina, the market experienced a slight seasonal slowdown through
" z3 X. v  E) jJuly, as there were fewer purchasers in the market due to summer vacations. In
0 t7 P  I9 o! M& G5 CAugust, activity resumed to the busy pace previously seen in the spring
3 L6 O( d- @3 z) ^, g+ pmonths, as the influx of purchasers made it more difficult to find a home due7 w; I/ c0 B6 ^
to the shortage of available inventory.7 v. Z, v; M5 W( g  c

- G1 o; X7 Y/ c! X' J    Activity in Saskatoon remained brisk as the market maintained its. w* t8 _6 n5 N) J
momentum from the busy spring sales period. The economy in Saskatoon remains
2 B& b. _3 [0 B6 b. W+ b% k" K' Gvibrant, as employment opportunities are abundant with many businesses
2 L0 V/ g  d8 tstruggling to make hires and having to recruit outside the province.
4 x  M% G" G7 b6 v# ^$ ^+ X8 I5 r8 e1 ~( }+ o' B
    Calgary's housing market recorded blazing average house price increases- e) W1 @; K# o2 i
in the third quarter, in all surveyed categories. The burgeoning economy, low
) b) v+ b- V: t, y4 E5 Tunemployment rates and low inventory levels remained the leading factors that
, p) }6 D+ y. f3 ipressured Calgary's house prices upwards. However, regardless of the soaring
% f4 z9 C" r, F! }% f5 _( zprices that characterized the market - even during the typically slower summer. {/ e. @. C) H5 H
season - it is expected that activity will become slightly more balanced, as
; C+ j. s, I5 L- ?buyers are becoming more reluctant to participate in the frenetic activity.

; f& H' Y! l. Y! \/ S2 ]0 I& y- V, I! s8 g
    Edmonton's booming local economy continued to thrive in the third quarter
; W8 x5 h- W1 ^1 V1 g% }, mas activity in the oil sands north of the city continued to flourish. Edmonton' g& J) L: _" V" m$ f
remained the hub of activity for those coming to work in the oil industry,
9 P. @# R2 N! p% h+ g( Gmaintaining tight inventory levels across the city, resulting in prices! N* `+ n% T* i. ~# P
increasing at record levels. However, as inventory levels continued to improve6 v9 g8 K/ H9 R. }/ U0 [; \  N
in the third quarter the rate of price appreciation should moderate slightly
' S7 \3 l6 O9 K9 }# f9 ?+ Rtowards the end of 2006.
    8 D1 w; T' Y5 Z" _% X' Z
- C" U& I8 W$ X6 t
While Vancouver has seen a slight reprieve from the severe shortage of
, N( w2 w# \2 b% M" {inventory that had previously characterized the market, supply is still unable
6 r6 u! m9 @* S/ E  ?( Lto meet demand, driving house prices upwards. Vancouver has a very diverse
9 A, \- s, Y( `: L1 R! Y2 qgroup of active buyers - from first-time home buyers to baby-boomers to
# ~; P3 K# d3 {. S8 r) G, P4 uforeign investors - all of whom fuel the demand for houses, placing added
2 K7 e( u" [7 d3 E/ H' j- v4 jpressure on tight inventory levels.2 {4 S% X$ t0 N9 Y& T# q
8 c# {" b. }, A8 ?, g
    Victoria's market is vibrant and supported by strong economic: r/ s( O" A; d& P0 f( J, P, P3 i
fundamentals, fuelled by a booming tech sector and a migration of young people1 r: Q5 C3 ^1 K0 C2 y
into the city that has continued to support the area's house price increases;
: t  j4 {8 i) I# R, A5 xwhile increased inventory levels have afforded buyers more time when searching  {% U( `0 Q# Z2 w1 g0 d
for a home, helping to normalize the market's pace." L& Z' J% _+ G2 p% V$ }* n
1 u2 U7 R+ l# ^# ]
    <<
- \9 h% X& R, r# }4 Q# G      Survey of Canadian Average House Prices in the Third Quarter 2006
; P6 P% i6 L9 X
6 p  I9 B# S; ^+ L; U% r    -------------------------------------------------------------------------
5 h  C* Z9 }. g  C  C: r! l7 l2 B: a                 Detached Bungalows                Standard Two Storey
1 L3 p/ P7 ?0 i) D/ K( X; t    -------------------------------------------------------------------------
4 L0 l4 s+ P" F0 k& s% j                     2006 Q3     2005 Q3    Bungalow     2006 Q3     2005 Q3
& n7 w/ R2 j: `    Market           Average     Average    % Change     Average     Average; Z! e& K: Q2 j6 \
    -------------------------------------------------------------------------- Z' H' V6 }8 l- M& l
    Halifax          186,333     173,333        7.5%     198,667     199,0001 q, ]+ q7 {. I9 W
    -------------------------------------------------------------------------
6 u5 _: M$ x" g: Q, k    Charlottetown    145,000     141,000        2.8%     175,000     170,000
. g' j" A4 _# o2 J  p8 R' f* A! O    -------------------------------------------------------------------------
3 ]( J$ G1 ]6 P    Moncton          135,000     127,000        6.3%     129,000     123,000
7 ?9 C$ ]) B$ a* E+ N4 f    -------------------------------------------------------------------------
7 i+ B$ h. |- K" }( [2 ?% K1 G    Saint John       141,200     142,900       -1.2%           -           -- @& V6 u0 N. Q- P
    -------------------------------------------------------------------------. Y$ N9 h5 M$ B4 O! q
    St. John's       143,667     142,667        0.7%     200,667     202,333) G. _0 N! k2 K9 H6 {$ l) N
    -------------------------------------------------------------------------
5 q* k- `' r& e( i' b) c) Z; T& N    Atlantic         150,240     145,380        3.3%     175,833     173,583
7 }3 _2 m" u7 A. J( l3 n    -------------------------------------------------------------------------' \# s" G7 @8 b/ Q+ W& D2 D2 H8 v& v( ]+ Z
    Montreal         213,691     203,500        5.0%     321,141     316,1857 W# o0 e0 J3 B! G
    -------------------------------------------------------------------------- j) K* T$ s: F7 j
    Ottawa           290,083     278,417        4.2%     285,667     273,250( j0 \3 x2 p$ u6 `1 ^2 b
    -------------------------------------------------------------------------; x5 P9 C$ _' K  Z; N# s
    Toronto          373,368     355,882        4.9%     481,523     474,766
# ], ~4 Q0 u! _5 l3 E    -------------------------------------------------------------------------8 e  z/ H/ M" Q  Q6 m8 E2 \0 z
    Winnipeg         181,579     159,860       13.6%     202,337     180,707
7 B' d: V6 W. C( t4 b    -------------------------------------------------------------------------
8 d& e: i& I1 V- @+ ^    Saskatchewan     170,667     156,083        9.3%     182,600     166,5006 ~. y) y; z' A/ t; q
    -------------------------------------------------------------------------2 J& E0 m% v  W% l+ e* I2 `) U
    Calgary          395,067     252,411       56.5%     405,778     264,389
% M3 s2 E+ W9 x$ w    -------------------------------------------------------------------------
/ a& V: B5 x) }    Edmonton         286,857     194,857       47.2%     316,429     206,714
' c- t3 a- E" A. |5 H$ P& E    -------------------------------------------------------------------------" |/ N! Q( G/ W# S1 d
    Vancouver        704,250     601,000       17.2%     794,000     697,5004 |1 _4 e0 L2 I& z3 _0 s# A/ F
    -------------------------------------------------------------------------1 E) X  C. t+ y
    Victoria         375,000     348,000        7.8%     403,000     391,000
* i1 t9 C5 h$ s5 ^; T    -------------------------------------------------------------------------
/ O( _* z: Y$ x    National         300,365     258,202       16.3%     365,380     322,8606 l" x& D( }" J/ V2 b4 X
    -------------------------------------------------------------------------
0 o. M, {  p" c- F- Q& p' s4 |* p7 n& V4 y- n
    -------------------------------------------------------------
6 J* Y: y+ z; ?0 ]* p5 ~5 o  W                               Standard Condominium# P! z, Q- e/ R! t; v* \9 r
    -------------------------------------------------------------
& s' _5 g/ r# D3 e% `) H                    2-Storey     2006 Q3     2005 Q3       Condo
( M6 \8 ^7 `2 b, ?2 Y) X1 x    Market          % Change     Average     Average    % Change: d5 p7 W2 @0 g* C
    -------------------------------------------------------------
9 x* K$ I, y7 c( l# U) R    Halifax            -0.2%     142,000     103,000       37.9%) U1 y3 |# ?' X/ D/ D- z
    -------------------------------------------------------------0 {8 q$ n; Z# N/ G! w2 I3 [
    Charlottetown       2.9%      98,000      98,000        0.0%
  a% U7 Z& _- k* x& \7 b4 ]' t    -------------------------------------------------------------- R) b. X- q7 h, n+ ]6 Q
    Moncton             4.9%           -           -         N/A
7 n" N8 O! l. t3 m3 S' ]9 t2 \+ u' i    -------------------------------------------------------------
2 v4 t' ~4 k/ C1 k- I    Saint John           N/A           -           -         N/A. I* K' s/ j% C& A6 w
    -------------------------------------------------------------
  }, T: u! m' V3 J    St. John's         -0.8%     146,333     145,667        0.5%; I* q/ u# |% C* h! g4 ^6 y9 Y
    -------------------------------------------------------------
5 p9 o8 n# }1 }1 V0 Q) \9 \4 A! O    Atlantic            1.3%     128,778     115,556       11.4%
% S6 G; z* B! y7 @7 |' ~    -------------------------------------------------------------
, ^) i! O8 l% T. Z' a. C    Montreal            1.6%     193,190     188,016        2.8%1 d0 P: l9 E& Y/ C0 S7 m0 S
    -------------------------------------------------------------
2 ]& F8 y1 r) m  G3 f    Ottawa              4.5%     181,083     172,250        5.1%
: ^- l8 M- O' y9 s' t4 @    -------------------------------------------------------------" _8 d7 D6 n# B+ @2 u& f& t7 m% P1 k! t
    Toronto             1.4%     252,088     242,918        3.8%% T  b+ Y: e* Z9 j$ [$ [
    -------------------------------------------------------------
) O. [( S# K: P. b8 i+ v    Winnipeg           12.0%     105,648      96,008       10.0%& R8 i. H, o$ M/ [
    -------------------------------------------------------------
( w/ @% g1 @4 e' y3 t    Saskatchewan        9.7%     106,250     101,000        5.2%6 y' i& [1 M" A5 a0 k
    -------------------------------------------------------------- ?6 I* U  u2 Z4 E* P
    Calgary            53.5%     245,844     153,867       59.8%
) Z4 m& r4 B3 A0 i: N" p3 i    -------------------------------------------------------------+ w1 R3 t. J# i6 [6 X, ?' h
    Edmonton           53.1%     200,433     131,500       52.4%0 t# \" K% J: |  U- `
    -------------------------------------------------------------8 g+ f8 q  b5 m
    Vancouver          13.8%     366,250     323,250       13.3%0 M4 z, }" Q+ g" S8 |
    -------------------------------------------------------------
2 Q( T2 w* P- o2 }5 Z$ K    Victoria            3.1%     229,000     220,000        4.1%
9 c) |% ^- m! d6 H9 e% q2 R    -------------------------------------------------------------
6 L6 v: h& h- O  [( u% O0 H    National           13.2%     211,562     185,296       14.2%
$ p/ Q. r& a1 {    -------------------------------------------------------------) b$ [, l. c0 H' C( I; F
    >>  z' S7 k( d: N  X8 ~2 C
; T7 e1 h1 u! f) S
    Average house prices are based on an average of all sub-markets examined
' p8 H3 w+ F: zin the area, except for the smaller markets of Charlottetown, Moncton, Saint
- |/ [4 s8 y6 B, }John and Victoria.+ C$ u1 A6 D* U
" S3 `1 m0 ~3 W
    The Royal LePage Survey of Canadian House Prices is the largest, most
' \. {8 K3 |$ d3 k& a! j; pcomprehensive study of its kind in Canada, with information on seven types of
5 O: n5 L# ?( F7 J) [$ xhousing in over 250 neighbourhoods from coast to coast. This release
( H$ v; Q" X) x2 C3 S# ]references an abbreviated version of the survey, which highlights house price
8 Y9 r: W  d! N# o: C& y, Q' Ptrends for the three most common types of housing in Canada in 80 communities
! o' w7 e. d! F) S- P( ]across the country. A complete database of past and present surveys is* c  [9 X$ g6 N& r( f# Z$ M9 d
available on the Royal LePage Web site at www.royallepage.ca, and current
% n- v2 F, Q. r1 Q" w5 [figures will be updated following the end of the third quarter. A printable2 P) N5 x5 a+ M$ _& D5 f' D
version of the third quarter 2006 survey will be available online on0 ~6 K9 ]5 `5 s! m
November 15, 2006.  R1 R9 ~/ a7 ]  j6 N  N
    Housing values in the Royal LePage Survey are Royal LePage opinions of
( [. H. k7 T% i* qfair market value in each location, based on local data and market knowledge
& `4 l" |2 K/ g# G5 ]  Zprovided by Royal LePage residential real estate experts. Historical data is9 D9 ]1 d8 b6 w) F  h/ \, z, N  g2 J
available for some areas back to the early 1970s.
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