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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 $ u* t6 p: V! h. A

: ~3 Q; V) b3 p/ D8 [- Country's market poised to show growth throughout 2006 -+ I, L* a$ ~: q4 E( r; j2 }; F

! j% D1 V, _7 _0 e$ p1 C    TORONTO, Sept. 28 /CNW/ - For most of Canada, the housing market7 U8 d5 @9 q7 H; Q% ?4 c
exhibited moderate price increases and stable unit sales during the third
' F! J5 ~) k' u/ N+ \% t  z9 F0 ~# wquarter. Wide regional variances continued to be the dominant characteristic/ ?4 @) Z7 m! ?; Y" Z* V+ m
in the market, exemplified by frenzied levels of activity and double digit
, J8 M% G0 T# r. y# R; Sprice gains observed in the energy and commodity rich Western provinces, and( K( C- J0 _; `) d! F) J7 I- B- i
more reasonable sales volumes and moderate price appreciation in Ontario," Y. Y1 U: v: K! f# |
Quebec and Atlantic Canada, according to a report released today by Royal) K, S' p1 y9 G1 o! q, B% K
LePage Real Estate Services.
2 W" K8 A% K9 x0 u' e8 u) V& t
) j+ {/ d" u* F3 [    Nationally, market trends established through the first three quarters
5 [5 {( l" I  `# m- g% Kare forecast to continue for the remainder of the year. Robust economic
. U7 s  e5 V/ z. t% {conditions, low unemployment rates, modestly growing salaries and wages, and
4 [6 Z8 {, R, K; Fsound consumer confidence contributed to the overall strength of the
* A, ?) ], c: K0 z; c- }8 mresidential real estate sector.
4 N# f- j" w% [& G: o
" H! l: T: n! F7 ]; P    Of the housing types surveyed, the highest average price appreciation
3 X# s, v* d* ^$ t6 H8 p& F  _occurred in detached bungalows, which rose to $300,365 (+16.3%)1 K) \4 p, C. V- e0 F
year-over-year, followed by standard condominiums, which rose to $211,562& T# [  n' k, u0 l0 |* E2 l1 u
(+14.2%), and standard two-storey properties, which increased to $365,380
, \) K: }3 O( z' k* |% c5 }( l(+13.2%).0 L' g3 m7 Q4 g

8 y- w7 M, d1 Z# Y  R' C1 H7 e* n+ O    "Canada's sturdy housing market continued to demonstrate steady growth
& u+ ~/ a) {' H6 \during the third quarter. For all but the west, we have moved on from the/ \( R" \5 ^3 x
frenzied expansion that characterized the first half of this decade, and are9 A* P. B: H4 H$ ?7 A* |
poised to show continued growth at a more moderate pace," said Phil Soper,% Q; a( P4 A6 F! S# `$ s6 G" M
president and chief executive officer, Royal LePage Real Estate Services.9 g  h/ m' k7 I! p+ n
"Gone is the sellers' market that we have lived with for some years. We4 U! u) h( S$ V/ o/ [6 N) d3 ?0 k$ M
welcome the more reliable conditions that are characteristic of a healthy: Q2 U" y9 b& H6 ?0 p6 @
balanced market."
+ H8 q; @% J7 L- t) F4 M  h+ f# Q1 k1 ~* q6 `
    Despite the double-digit rise in average national house prices,
. K5 n6 W$ k, V6 Z3 }1 u6 ^' yconsiderable regional variances were exhibited again this quarter. The shift! d$ _* E7 ~) m
to balanced market conditions, which began in late 2005, has continued
( i. I' C' P+ v1 Z2 U9 athroughout most of the Central and Eastern regions of the country. In the core6 E# H7 S# i) d1 _) |* _' k
energy producing western provinces, the combination of very high in-migration,
8 x9 a; _& D3 nmanageable affordability, and a shortage of inventory has driven record+ q, M$ A7 q/ I% \! q: a
breaking price appreciations.
; w) N9 N- m6 T0 g# L
9 `% K' Y6 k8 f/ m# \: Q' j    Echoing the second quarter and supported by Alberta's rapidly expanding/ \  v/ g4 S& c7 W, W
economy, Calgary and Edmonton led the charge of Canadian cities with the
# b1 i+ Q% D) Ilargest house price appreciation in all housing types surveyed.; Z) d; l; x* t1 f( c4 N

! B) y+ c3 i4 N  G0 [- _# Y/ A, H, ~    In Ottawa and Toronto, growth remained steady, supported by solid
. p) Z# b3 j% X# T0 V: Heconomic fundamentals, an increase in available inventory and strong consumer; k1 @4 _4 v" f4 B% h- a5 L# q
confidence. While the pace of price appreciation in Ontario leveled off
& a/ {2 L* ?; H3 I( hslightly, the province's real estate market remains poised for modest growth.
4 N& o4 O4 A6 `/ }3 f7 TIn Atlantic Canada, new housing and condominium construction offered buyers
& e' X: Y8 O1 B2 @; z1 ggreater selection at more competitive prices, resulting in a slower rate of% H  ]* s6 |8 r7 f  C5 s3 F% [6 g
price appreciation when compared with 2005.
; u7 K. e5 N9 |
) m6 |" Z. q/ _8 G( ?6 ~; y5 f) m    While the pace of growth in Canada has slowed, the domestic housing
8 m2 I1 f" Y0 g0 y5 {/ [; Bmarket is expected to outperform the American market. The economic and; M. R! j0 e5 W; f) |1 x
financial fundamentals driving the residential real estate sector in Canada
% X' [$ E9 @8 }' X4 w/ c- \are markedly different than those found in the United States.
2 Y7 {8 Y( w& z, h( E  H8 t$ d: O3 q( _9 f0 N2 A
    Added Soper: "Canada's housing market is likely to outperform the
8 d- P* j. {$ d8 u$ ~% S* wAmerican market through 2007. A number of factors are working in Canada's6 x" n# v5 C, E* Q$ \7 x
favour, including healthy personal and governmental debt levels, the6 y- x! ~- q1 B/ D% h4 ?! A
relatively modest rise in interest rates in our country, and general
( j0 Z: b  X- R1 X. g, N& X  ^affordability in our major cities. In addition, Americans are now seeing the
2 e1 d" `4 a* W( J" m: vdownside of a tax system that encourages maximum homeowner leverage, and! E& C  n7 ?$ e  y% s
aggressive financial products such as zero- and negative-amortization
7 E0 E# w) g/ ^% i4 }mortgages that work only in a high price growth environment."
& H3 s5 \9 F  O; [$ o, R/ i' Q  {3 Q# v* I. Y
    <<6 N! m$ e. e3 s" V8 [. ^
                             REGIONAL SUMMARIES
7 ]( V4 {7 \3 K4 o% N    >>$ t8 z  ^) `, P
! ^9 a2 W' T; q) ?/ _4 P
    Balanced conditions continued to characterize the housing market in( _- {" W9 j# e2 D' b" N" t; ~6 d
Halifax, as significantly higher inventory levels helped to moderate the rate
+ N- f: S5 G  M& wof price appreciation. Buyers were increasingly choosy, taking more time1 I9 Q5 Y; _/ |/ ^. Y1 B' R
looking for newer, low-maintenance properties that were not in need of, \" \+ J6 e! h* Y- R# a( X0 Q
renovations.' m4 I% p2 E! G3 D8 H2 K9 h# o

+ a1 `3 f  f% H) X# |7 Y5 C4 ?    The housing market in Moncton remained healthy and strong as a slight
- `8 t# r3 E- o" cincrease in inventory helped to moderate the rate of price appreciation1 s/ j+ @: N8 f% R/ k3 k
compared to the same period in 2005. Activity was brisk throughout August and
. L$ T( n0 ^& \$ aSeptember and is expected to remain this way through the fourth quarter.
% N+ x7 _5 B7 U  ]8 k5 }" F8 L
- ^3 L& F( @* G2 z    The housing market in Saint John underwent its traditional summer# _; q( |: y/ k/ K
slowdown in the third quarter, with activity picking up towards the end of the1 Y7 l5 d  \* j3 R& k/ e
quarter. The local economy continued to thrive, as construction on a new
# f; @! E: j( a9 l1 n0 X4 l600,000 square-foot shopping area has begun, bringing several new box stores
- ?7 }% Y) V$ [; H& C. X( b; Wto the area. Buyers have begun seeking less expensive fixtures for their homes
% G  z6 _& h: E7 w8 ]& u! S6 `) x( Yand are instead opting for more affordable housing options.$ [8 H" C6 L" f9 o9 L

# [7 z- Y  u, F5 n+ ]    In Charlottetown, the housing market started to move towards balanced; q* ?+ i+ ?( n) J; e& N. E
conditions, as some sellers had to begin to lower the asking prices on their
( I1 ]- W: u1 w) H# i( ?homes to make them more competitive. Activity from out-of-town and US buyers; p4 l9 }/ b( A: b9 ]% m- M- |5 K
was down slightly compared to 2005, likely attributable to the strong Canadian; j3 ]& L4 h  o; x
dollar. Inventory levels began to creep up in the third quarter, providing5 R. l* U$ u1 @1 k, V! V0 h
buyers with more options when looking for a home.
. x6 S7 Q  q6 w" W( R4 {
0 E- z& g2 E1 l( y    Activity in St. John's slowed slightly in the third quarter, particularly
! E0 m: s5 l. {among higher-priced properties, where there was a slight over-supply of homes% m8 K' n6 T7 L( f  X
priced over $200,000. Listing periods have increased when compared with 2005,
6 d- W& j1 Q& ~6 s* K) [4 Sas some of the pent-up demand that had characterized the market over the last
+ r9 r1 e; G. Z+ \7 ~/ S/ Nfew years has been satisfied, resulting in more normal, balanced conditions.
, l2 {8 U8 x( t& {# z1 }1 c6 e2 x! F% B/ a* a2 x
    Montreal's housing market recorded modest increases in average house
% t' |8 V' U# rprices, due to a slight seasonal slowdown in the third quarter as inventory. r1 X5 p  L  \& A2 Z3 G0 x
levels rose. Part of this can be attributed to the fact that many renting
! D# O1 N- L9 L. r$ [0 B4 Lfirst-time buyers were motivated to close on the purchase of a home by July 1,. ~8 _2 e1 b9 r9 w) \" V' ?) M
when rental leases expire in Quebec. Once this date has passed some of the
  F+ }# l* g, r- Spressure is taken off the market, allowing buyers to visit more homes before) ^% [- M8 w3 }
making a purchase.5 j6 Y$ d. ]$ |# r  A0 m6 h

7 [. W: Y, [! b) D6 p4 I    Ottawa held its position as one of the country's most stable housing
' {, }! V1 W$ X9 i3 Y: |markets in the third quarter, reinforced by a vibrant local economy and strong
2 \4 b' a0 i1 G' \+ E3 \confidence, resulting in modest increases in average house prices. The city
% i8 q* ?7 `% n/ i$ i  @/ m6 ycentre remained a bright spot in Ottawa, with homes in this area attracting
; s  C* A+ r1 r( i' ]6 n+ Jattention due to their convenient location and proximity to downtown- V' V6 a; Z7 x; O
amenities.
" J) r& u4 k: s& T  @  h7 h% E+ {2 x* m5 A0 K" d2 D+ w1 L$ f
    The housing market in Toronto sustained healthy activity levels
" x* W+ Z. q( ]" hthroughout the third quarter, as a strong economy helped to maintain demand
# Q7 B4 q: z% y$ l  O2 bacross the city, causing average house prices to rise moderately. Toronto has
& R, D1 s/ C9 r+ o! `% Acontinued to experience modest growth in average house prices, and has been5 Y5 X# J# a: W
driven primarily by purchasers who are buying homes as their principle
# G" S$ L, k- w& i& w( f" _residence, rather than for investment.5 C! q9 X' z5 k7 c) f( P" e4 X
* n( ]* Z$ _, Z6 m
    The vibrant Winnipeg housing market continued to show its strength as. c& G3 q, k7 r& d: `' q
house prices rose during the third quarter. The booming local economy resulted- D( H/ `. c8 ]- ?4 Y" I4 P
in a historically low unemployment rate, helping to bolster consumer
+ q/ ]3 K$ a- ?9 Qconfidence and Winnipeg's ranking as the city with the lowest capitalization1 C( J! P! D* I6 @1 r, k9 ?1 z
rate among the country's larger cities - helped to encourage buyers to enter1 t. I+ N4 a/ w; V3 g
the market.; E5 L& n9 O7 S
8 @) S  c8 v9 A( x( |5 ]. [
    In Regina, the market experienced a slight seasonal slowdown through& a& Y: Q+ P+ T+ D' s. k, E/ A+ f
July, as there were fewer purchasers in the market due to summer vacations. In
% O: t: z  y2 x) D" kAugust, activity resumed to the busy pace previously seen in the spring
, u7 s5 r8 Q5 u; amonths, as the influx of purchasers made it more difficult to find a home due
- ?: y  W1 C5 K+ uto the shortage of available inventory.
) H5 ]7 ?; m8 [# o; `- H  s* u. G1 w1 ]/ x5 W3 q
    Activity in Saskatoon remained brisk as the market maintained its1 {5 V+ R3 O8 D
momentum from the busy spring sales period. The economy in Saskatoon remains3 Q$ K+ ?# t3 Z
vibrant, as employment opportunities are abundant with many businesses
4 p2 h- G. q; r% Ostruggling to make hires and having to recruit outside the province.
. f/ N; d  I. t% G
0 s- x% n( }+ R2 |, z    Calgary's housing market recorded blazing average house price increases/ D9 w3 x0 R$ d
in the third quarter, in all surveyed categories. The burgeoning economy, low
( L5 N! ^0 c# g, bunemployment rates and low inventory levels remained the leading factors that
, @: F: t  q7 d  Q6 g5 S5 spressured Calgary's house prices upwards. However, regardless of the soaring( H/ j0 d6 k6 U; C
prices that characterized the market - even during the typically slower summer
2 p* y, C! D. m$ A9 kseason - it is expected that activity will become slightly more balanced, as4 L1 p+ b! b  k% C& Z, A' B
buyers are becoming more reluctant to participate in the frenetic activity.

  t4 Z3 ?. P+ l- m( z
7 V& B9 Y/ z0 @+ M    Edmonton's booming local economy continued to thrive in the third quarter
% m  o8 k% _$ aas activity in the oil sands north of the city continued to flourish. Edmonton
+ |2 K- P1 J$ m! R* o, ?remained the hub of activity for those coming to work in the oil industry,7 W7 q. j2 y) R. p( t+ S
maintaining tight inventory levels across the city, resulting in prices/ R6 K; D  T+ V' J, y
increasing at record levels. However, as inventory levels continued to improve# o6 _# A/ V6 w5 Z# p. b3 p
in the third quarter the rate of price appreciation should moderate slightly
& r5 F7 q4 B1 y3 S- q5 D' etowards the end of 2006.
   
# [: p( \) a' l" I8 C1 B  a, n% T" O$ S9 ~& A1 v
While Vancouver has seen a slight reprieve from the severe shortage of6 q) i5 J& v8 V2 g
inventory that had previously characterized the market, supply is still unable
' f3 |9 V' `: Cto meet demand, driving house prices upwards. Vancouver has a very diverse' h( a# t' p9 g4 f
group of active buyers - from first-time home buyers to baby-boomers to
" P9 F; G) K- u+ @3 q! w6 [foreign investors - all of whom fuel the demand for houses, placing added
: _: _3 ?& D3 V. ~, ^1 B7 Fpressure on tight inventory levels.
5 ]/ n( F; J* X7 _7 N/ F
4 o6 |5 T) j) d6 Q, ~    Victoria's market is vibrant and supported by strong economic
7 m4 K6 K# w, N" hfundamentals, fuelled by a booming tech sector and a migration of young people) z& M0 d: s. o( e/ J( c
into the city that has continued to support the area's house price increases;2 P! g1 x% t, R4 \- A' M& t0 v! m* Y
while increased inventory levels have afforded buyers more time when searching5 c: ^( [1 W0 F& v! G
for a home, helping to normalize the market's pace.$ d7 i* b4 Q/ S1 {
/ v. L+ p8 \$ P5 N" X6 \
    <<
1 Q- V$ e6 m3 C8 B* l/ x      Survey of Canadian Average House Prices in the Third Quarter 2006, S" k/ R9 w. {/ [. H8 k- D
; A& w# Z4 u$ M4 V4 d
    -------------------------------------------------------------------------
3 `# z' m7 Z- O. p                 Detached Bungalows                Standard Two Storey$ Z& d" o% {% f# @; t" t
    -------------------------------------------------------------------------) _! `) ^3 F: T6 @4 Q* v" C" P
                     2006 Q3     2005 Q3    Bungalow     2006 Q3     2005 Q34 G* Q, K4 q6 l/ ~8 e
    Market           Average     Average    % Change     Average     Average) r  s- V; ]2 F
    -------------------------------------------------------------------------7 y$ h* F# K% J4 X0 Y8 f
    Halifax          186,333     173,333        7.5%     198,667     199,000/ `3 d' O: z. c! {
    -------------------------------------------------------------------------
3 Z* @  s$ U9 S7 p' x6 y( v$ ]$ V    Charlottetown    145,000     141,000        2.8%     175,000     170,000
4 ^2 V6 F1 y! e1 c. U0 e- v8 O" f    -------------------------------------------------------------------------
* _/ @: S4 H! w; q8 f" X    Moncton          135,000     127,000        6.3%     129,000     123,000. \( Z! {9 d2 ]6 T6 A
    -------------------------------------------------------------------------
, r  q2 W0 M' ]    Saint John       141,200     142,900       -1.2%           -           -( n' y/ r9 R" A) M  G7 N
    -------------------------------------------------------------------------
: Z2 q0 c& {+ i    St. John's       143,667     142,667        0.7%     200,667     202,3335 z; C* A: z9 f* T( a* A5 v$ k
    -------------------------------------------------------------------------
& d, C; Y- S8 F: D) @( y9 S; r    Atlantic         150,240     145,380        3.3%     175,833     173,583
& I; l1 ], s5 @" G    -------------------------------------------------------------------------8 v- l) H" n2 ]/ f  g- U
    Montreal         213,691     203,500        5.0%     321,141     316,185! t9 c) r) S# g8 H7 G
    -------------------------------------------------------------------------4 |' I, b/ W$ C7 L2 r8 w
    Ottawa           290,083     278,417        4.2%     285,667     273,2507 N; d1 ?% c% v# b  e
    -------------------------------------------------------------------------& n8 [. }/ i# q5 N, r, x" g% Q
    Toronto          373,368     355,882        4.9%     481,523     474,766, u3 _$ I* T3 c3 j
    -------------------------------------------------------------------------: F: v1 `/ w" X: A$ h  F: j
    Winnipeg         181,579     159,860       13.6%     202,337     180,707
% N% }% g- e- p: t" J6 r  }    -------------------------------------------------------------------------  \: a; H; K  Y$ ]! s
    Saskatchewan     170,667     156,083        9.3%     182,600     166,500
+ r$ t& n9 ?4 B; k$ X0 j0 y7 k4 H+ [    -------------------------------------------------------------------------
" |6 J) M$ R3 w% L" J    Calgary          395,067     252,411       56.5%     405,778     264,389* z. i, k' d. b# k% K6 c* M% `, W
    -------------------------------------------------------------------------
' a' X* X7 f, O9 Y    Edmonton         286,857     194,857       47.2%     316,429     206,714
! W+ x" w0 G9 {& c& G    -------------------------------------------------------------------------, Z% n, R/ C1 @- Y$ \; L
    Vancouver        704,250     601,000       17.2%     794,000     697,500
% U9 Y/ }* z6 z' T) B; Y    -------------------------------------------------------------------------
5 A+ k( ^5 o, Q( T, @. w    Victoria         375,000     348,000        7.8%     403,000     391,000, _0 T# E2 @! I
    -------------------------------------------------------------------------! _4 D7 {5 H0 ]3 X" }
    National         300,365     258,202       16.3%     365,380     322,860
6 q0 P$ p8 i& N% E    -------------------------------------------------------------------------
8 m5 T) x0 K5 a7 O  w" y5 T+ C0 H2 E
    -------------------------------------------------------------
2 r" Q; }/ X8 L$ }" i                               Standard Condominium* E7 X! L9 ]) P. v' h
    -------------------------------------------------------------" z+ ?1 ~/ s6 n, O' b
                    2-Storey     2006 Q3     2005 Q3       Condo
* I% C8 ?: ?- ?" F. L; N; z9 q+ D    Market          % Change     Average     Average    % Change
! H8 t2 p# }; A+ a& ^- o; i    -------------------------------------------------------------
+ _4 K( B* b5 \! c    Halifax            -0.2%     142,000     103,000       37.9%
: ^* s" k8 m5 o% H3 {4 k/ c2 N    -------------------------------------------------------------" e3 g% C2 _$ Q3 S" r8 V% l
    Charlottetown       2.9%      98,000      98,000        0.0%$ w: c" r/ p: b; T  f6 r
    -------------------------------------------------------------
: I% L! a9 L9 a# b: T- o    Moncton             4.9%           -           -         N/A
7 ~/ h. K5 f' Y/ [2 W7 s    -------------------------------------------------------------  b7 A" y7 `% x' \* l3 m2 I: q
    Saint John           N/A           -           -         N/A3 }# Q) B+ X' q6 m2 U6 ]# J0 n
    -------------------------------------------------------------
( u& L$ v" a) k1 R* ?: h    St. John's         -0.8%     146,333     145,667        0.5%
5 L! P+ B5 N( N7 D! A2 g0 a- W    -------------------------------------------------------------
8 E" l5 z, j3 k; f. e0 }4 G( @6 \    Atlantic            1.3%     128,778     115,556       11.4%
, f2 G# [' o/ W' [    -------------------------------------------------------------
3 b6 F9 M: L8 e+ w* x, r    Montreal            1.6%     193,190     188,016        2.8%
$ x, t  m: d* ^# ?& E8 D' t7 m( d9 e    -------------------------------------------------------------
! s  T1 C! s# V/ R7 N" K) c    Ottawa              4.5%     181,083     172,250        5.1%
3 x% y8 X. R8 G+ J9 E  `7 g    -------------------------------------------------------------8 M/ r" ?/ I$ k- o& i
    Toronto             1.4%     252,088     242,918        3.8%
4 x; x% }0 B0 D. l1 M0 K    -------------------------------------------------------------
1 c1 n3 _! S; Y    Winnipeg           12.0%     105,648      96,008       10.0%( }. ?% p! L! ^
    -------------------------------------------------------------: `5 G  i2 O/ l! z2 S& [
    Saskatchewan        9.7%     106,250     101,000        5.2%
/ s9 Q0 {8 W3 K    -------------------------------------------------------------
! y) D! _2 B8 F* U8 I. C/ x    Calgary            53.5%     245,844     153,867       59.8%
  `6 P3 A& P" N+ M0 i9 m    -------------------------------------------------------------
0 C' {; o* n* f3 |4 E* y    Edmonton           53.1%     200,433     131,500       52.4%
7 d$ K6 E6 U$ M- A$ W    -------------------------------------------------------------
3 Z' p7 y& e" h8 l# X    Vancouver          13.8%     366,250     323,250       13.3%
8 G1 R* f& ]# V! V. v* |    -------------------------------------------------------------7 ]: Z6 f. ~7 m( m3 o1 @& |
    Victoria            3.1%     229,000     220,000        4.1%' m8 O# _+ ~4 U! n4 L7 `5 V
    -------------------------------------------------------------9 k% \* F- T7 c
    National           13.2%     211,562     185,296       14.2%
% K3 s# `8 e' x+ t6 |  I    -------------------------------------------------------------. L& s% ?; I9 ~
    >>! ]) W2 Q$ F0 l+ z: ^4 }

$ C" O1 r( }: x5 C& h    Average house prices are based on an average of all sub-markets examined4 O* [% c' r2 u- F: {% O
in the area, except for the smaller markets of Charlottetown, Moncton, Saint
8 g" f5 M6 V6 S7 J7 |John and Victoria.
7 J5 P+ S8 R4 U3 b2 o/ f3 c
1 t: _& ?/ w; V% t6 Z    The Royal LePage Survey of Canadian House Prices is the largest, most
% V, @0 A; f: g$ G0 M+ scomprehensive study of its kind in Canada, with information on seven types of
. w5 X- Y. ~5 q; s& Bhousing in over 250 neighbourhoods from coast to coast. This release1 W. Y+ ~1 p( s( R
references an abbreviated version of the survey, which highlights house price1 n- N" A" k! M5 M0 d3 {& n; ~; V. ]
trends for the three most common types of housing in Canada in 80 communities
6 U+ j6 I, [& W* g% lacross the country. A complete database of past and present surveys is4 D7 @2 u/ u" ~; D+ F# O
available on the Royal LePage Web site at www.royallepage.ca, and current
* y; h: k3 U4 w2 ~& Ifigures will be updated following the end of the third quarter. A printable
, P* @! Y  l4 L; ^version of the third quarter 2006 survey will be available online on
) h6 o* d. E+ ^  z4 H" U, Z: JNovember 15, 2006.3 w/ L$ q5 V2 s: Z! c$ H/ j
    Housing values in the Royal LePage Survey are Royal LePage opinions of
9 e; Z9 R  I) X) l. J" y$ K/ sfair market value in each location, based on local data and market knowledge
& n; H4 }: r: H! b! E- B2 m  w1 Pprovided by Royal LePage residential real estate experts. Historical data is8 {9 f8 p& X1 j8 a" c
available for some areas back to the early 1970s.
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