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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 ! `$ P" s- {; y9 j$ S
9 F% u. W% M7 G# B/ b' t; e
- Country's market poised to show growth throughout 2006 -
+ ?& b- H$ S8 M% b0 M  b9 S# S' V- W! A
    TORONTO, Sept. 28 /CNW/ - For most of Canada, the housing market
+ P/ _" e& O- Z* W) D3 vexhibited moderate price increases and stable unit sales during the third
0 c( l1 u0 \, j8 n1 {quarter. Wide regional variances continued to be the dominant characteristic" i$ Y0 ~* O9 W7 j0 `7 z
in the market, exemplified by frenzied levels of activity and double digit; `8 N7 C0 H; J
price gains observed in the energy and commodity rich Western provinces, and
. e5 k, x7 c/ l0 {( Zmore reasonable sales volumes and moderate price appreciation in Ontario,
, `( a9 @  l' n: P" XQuebec and Atlantic Canada, according to a report released today by Royal& R! O' B5 L% q$ l
LePage Real Estate Services.6 |  s* \; V/ m. N2 [$ O( ]
! I8 P/ S& T) i4 z& g1 X# r* v
    Nationally, market trends established through the first three quarters5 q8 h8 ?: V" Y6 y" T
are forecast to continue for the remainder of the year. Robust economic9 w# }5 p  @. U; c$ {1 ]6 w/ E* u
conditions, low unemployment rates, modestly growing salaries and wages, and
6 {& ]  N, p6 ~" g: Ssound consumer confidence contributed to the overall strength of the
! v  C+ A# Y9 {; Eresidential real estate sector.) U# c9 ?5 t2 j6 _7 |

0 l6 C6 B) b; Y3 d9 G/ U    Of the housing types surveyed, the highest average price appreciation1 P" Y: k" a& m% J* y
occurred in detached bungalows, which rose to $300,365 (+16.3%)
/ m3 N! \8 m0 b+ _% p2 S- Jyear-over-year, followed by standard condominiums, which rose to $211,562
, A. R+ O! d8 K" s& W(+14.2%), and standard two-storey properties, which increased to $365,3800 E# }+ ?1 n9 D* u
(+13.2%).3 b) I# ^* p- e! s+ o
. r5 W! O6 c# ~' J. U
    "Canada's sturdy housing market continued to demonstrate steady growth' a0 V: G9 B! g  Z, p0 z" ^
during the third quarter. For all but the west, we have moved on from the) [5 v4 ~- \( ~! W6 U1 d$ T
frenzied expansion that characterized the first half of this decade, and are
2 A4 E5 j$ j+ g) j# }poised to show continued growth at a more moderate pace," said Phil Soper,
, o+ k  w- @; q$ |, Cpresident and chief executive officer, Royal LePage Real Estate Services.
4 @" f# Q/ o2 E9 v2 L"Gone is the sellers' market that we have lived with for some years. We; O+ T8 @2 B8 y; Q  K" d
welcome the more reliable conditions that are characteristic of a healthy3 D& K5 |8 d3 v2 d# b4 S
balanced market."
- L; C+ c1 x0 u2 d
. s% \, p& d( n    Despite the double-digit rise in average national house prices,
! K, O& ~" T. r3 ~" bconsiderable regional variances were exhibited again this quarter. The shift
9 D/ N$ z! ^+ Sto balanced market conditions, which began in late 2005, has continued5 d6 n2 w% N' ]
throughout most of the Central and Eastern regions of the country. In the core
5 i" E; N( A- C8 ^energy producing western provinces, the combination of very high in-migration,
2 I: B3 B1 @! [- Hmanageable affordability, and a shortage of inventory has driven record' n; u; U7 X4 |$ w( L, G
breaking price appreciations.
1 p" e$ b& k6 R. J+ E4 J2 v) g) H* Y! y7 t) \
    Echoing the second quarter and supported by Alberta's rapidly expanding' U4 m) Z, c+ @; ^# ~( h3 \
economy, Calgary and Edmonton led the charge of Canadian cities with the; ~9 I% B& x0 L4 f+ x' M
largest house price appreciation in all housing types surveyed.
5 x  J, E; L$ M6 o$ Y1 b0 X3 h# J4 l9 j# R( V9 O+ ]2 k4 e/ f
    In Ottawa and Toronto, growth remained steady, supported by solid
7 i/ x7 f6 Q# a3 xeconomic fundamentals, an increase in available inventory and strong consumer3 v- H* J# x0 o% O& J$ x; R" Y
confidence. While the pace of price appreciation in Ontario leveled off- J3 `: `: ^! }( ~3 b# G
slightly, the province's real estate market remains poised for modest growth.: z- W8 f$ W; ^; F
In Atlantic Canada, new housing and condominium construction offered buyers
9 r1 Z# P( l) T5 Ggreater selection at more competitive prices, resulting in a slower rate of6 y8 d' d- S8 E* E$ a! `
price appreciation when compared with 2005.
& y' T6 g  e0 p5 C+ V2 Q0 R+ p# d: _! W  k
    While the pace of growth in Canada has slowed, the domestic housing* L3 R% W) H6 n
market is expected to outperform the American market. The economic and
% p* ]" v: s$ Zfinancial fundamentals driving the residential real estate sector in Canada
: W- B! I9 U3 M6 l4 O" g" |1 Iare markedly different than those found in the United States.
$ r: J2 g1 n' |& ^# {, Y, |6 g: G* Q. t3 L% w
    Added Soper: "Canada's housing market is likely to outperform the1 j. w! D% J* w5 O( u: g
American market through 2007. A number of factors are working in Canada's+ s4 ]! ~7 g: y
favour, including healthy personal and governmental debt levels, the
- L4 D) M' c% brelatively modest rise in interest rates in our country, and general
  L6 x( O* b/ x7 r2 v" maffordability in our major cities. In addition, Americans are now seeing the& N$ S1 G( \  k! z* [; [2 ]
downside of a tax system that encourages maximum homeowner leverage, and) ^+ U7 M0 }  l# x2 b7 w
aggressive financial products such as zero- and negative-amortization( [2 C. m' C1 W) g8 m& e/ h
mortgages that work only in a high price growth environment."  L6 \* a- n5 C! y! S/ _, \

+ Q0 n  j' |0 `  E, R- }0 f    <<
( _6 a0 k  N8 Q! w* P                             REGIONAL SUMMARIES
% j8 D* ~. J1 h" C0 q  W* X5 n    >>; u+ V% Q0 I* p$ T7 E0 J# r  J

$ U% I# H, t9 o    Balanced conditions continued to characterize the housing market in5 J* ^  B# b: u- o, `- X
Halifax, as significantly higher inventory levels helped to moderate the rate
$ j- j1 g6 J5 U8 Gof price appreciation. Buyers were increasingly choosy, taking more time. V! l0 V* D1 K& ^2 {' Q( r
looking for newer, low-maintenance properties that were not in need of! n0 w$ W( ^, Q, M$ r# W) o4 q' E' X
renovations.
* H. h7 @$ a) ~* k: `
2 c8 {5 _* G5 G4 Z    The housing market in Moncton remained healthy and strong as a slight
5 M% v: B4 G" w; K# Bincrease in inventory helped to moderate the rate of price appreciation9 g. `. R: X# f& L0 G. T# o6 R
compared to the same period in 2005. Activity was brisk throughout August and5 T: ]$ E6 O6 v( d
September and is expected to remain this way through the fourth quarter.! m. R3 ]5 _0 `( y0 ]6 Z) T0 C3 ^+ q: |
1 s+ }! _) @9 y- ]$ j. C5 k
    The housing market in Saint John underwent its traditional summer
3 P- b3 s0 E6 _5 X7 S; r( n8 Nslowdown in the third quarter, with activity picking up towards the end of the
  l) _' ~8 Z) q$ }' Y# k! N! Vquarter. The local economy continued to thrive, as construction on a new
; o: m5 ?5 |' K9 o) y; u600,000 square-foot shopping area has begun, bringing several new box stores
. d6 }) V. ]3 v. F$ s- f! V* m1 hto the area. Buyers have begun seeking less expensive fixtures for their homes
, l9 s9 _3 g$ G  i+ G4 uand are instead opting for more affordable housing options.
' V# y* E) I6 B3 f* y1 v' y/ I9 g$ N  h" ]4 B  g. _
    In Charlottetown, the housing market started to move towards balanced
" t, v% r# v# P* o/ o* uconditions, as some sellers had to begin to lower the asking prices on their+ v& \1 f- Y8 Z5 J
homes to make them more competitive. Activity from out-of-town and US buyers: d3 \0 B& {* p: I
was down slightly compared to 2005, likely attributable to the strong Canadian
. o/ T+ i, H. Q* \+ ?3 T+ ~7 udollar. Inventory levels began to creep up in the third quarter, providing6 U& s3 J/ s, M% ^5 [# O
buyers with more options when looking for a home., m6 u8 G, [5 Z' U4 J! h! Y  I
. V1 }1 m+ B  ]/ p7 e9 G  O
    Activity in St. John's slowed slightly in the third quarter, particularly
( N9 @4 @7 o5 _+ aamong higher-priced properties, where there was a slight over-supply of homes
+ U: Q* v& b) c$ `4 T+ X/ j  Xpriced over $200,000. Listing periods have increased when compared with 2005,
2 e% g9 \% v" }as some of the pent-up demand that had characterized the market over the last* A/ `: }8 @9 W* x
few years has been satisfied, resulting in more normal, balanced conditions., n: W+ [  J1 N; e5 `6 Y1 S6 u2 r4 T

( S" z1 k# F/ F8 X    Montreal's housing market recorded modest increases in average house
8 Z* h; d+ @* S# R+ w4 aprices, due to a slight seasonal slowdown in the third quarter as inventory
4 R& [( T0 ~! A. `5 n. p3 g0 klevels rose. Part of this can be attributed to the fact that many renting
, W6 u# D+ q3 \first-time buyers were motivated to close on the purchase of a home by July 1,
/ F# ?  f( X; r, b. J% a0 }when rental leases expire in Quebec. Once this date has passed some of the
# g% [2 J2 l6 a9 Jpressure is taken off the market, allowing buyers to visit more homes before
2 d4 C* _/ P1 _# Q5 J9 y- }making a purchase.
$ W0 K- {! s* ]- K" g, N/ \! Z# Q; J9 t4 U% [( n/ y6 ~( D, d
    Ottawa held its position as one of the country's most stable housing
! w' Z' Y' }- [! u: qmarkets in the third quarter, reinforced by a vibrant local economy and strong
$ f, X% T8 {9 i6 t. y/ n- Hconfidence, resulting in modest increases in average house prices. The city
! I) P2 R0 r/ T  M. [centre remained a bright spot in Ottawa, with homes in this area attracting3 d  l8 ?+ M: `
attention due to their convenient location and proximity to downtown3 y1 N) i# v: T# I5 s, }4 I
amenities.
, a' h- y  ]$ ?9 _$ [; E
) Y( o7 V* o2 k1 S! X' d    The housing market in Toronto sustained healthy activity levels+ q0 i$ G, Q$ v( J8 y9 l2 w
throughout the third quarter, as a strong economy helped to maintain demand/ Q1 L& ]* ]% W0 g+ d3 u  E" @
across the city, causing average house prices to rise moderately. Toronto has  Q7 C  ~3 [8 ]  l% c  t
continued to experience modest growth in average house prices, and has been
" U/ B; X, \9 B1 p1 g/ a5 a' U1 Mdriven primarily by purchasers who are buying homes as their principle, p  m2 \6 x" g6 h5 L* [
residence, rather than for investment.! D% y9 x& }: Z
, j+ X/ g+ x6 i& P
    The vibrant Winnipeg housing market continued to show its strength as# U* S5 k% l: l3 S0 l
house prices rose during the third quarter. The booming local economy resulted
1 H) K8 ]- t* u* ]; ~" P. Bin a historically low unemployment rate, helping to bolster consumer0 ~8 z4 W+ S$ d; u3 {& r
confidence and Winnipeg's ranking as the city with the lowest capitalization: f( B5 R, Z2 ]1 ?! }
rate among the country's larger cities - helped to encourage buyers to enter+ G6 A3 y$ D) [
the market.
5 B3 e3 h/ w  S# _
2 X9 `, ]" a, B" i4 M5 g    In Regina, the market experienced a slight seasonal slowdown through
" F( _- F) Y; \July, as there were fewer purchasers in the market due to summer vacations. In
! k* V9 W0 p, vAugust, activity resumed to the busy pace previously seen in the spring. j7 w! j& ^( C! B
months, as the influx of purchasers made it more difficult to find a home due; Y4 o# L) }" |3 Z& i% S
to the shortage of available inventory.
# a/ p# Y1 y& _- d1 V1 F1 P- r2 {* x
    Activity in Saskatoon remained brisk as the market maintained its
! \! g+ Z& u) {* o: zmomentum from the busy spring sales period. The economy in Saskatoon remains9 ]0 x- j+ y( U/ v! `: A! v7 j7 A
vibrant, as employment opportunities are abundant with many businesses
5 W" K  ~% F; cstruggling to make hires and having to recruit outside the province.2 U7 H2 g% W( e5 h9 G
; x0 x' ^$ L" Q
    Calgary's housing market recorded blazing average house price increases
% j+ m% w. w4 R7 {in the third quarter, in all surveyed categories. The burgeoning economy, low- R. n- A# o7 R; w. R
unemployment rates and low inventory levels remained the leading factors that# l  U' Z! q  p: u" s9 |
pressured Calgary's house prices upwards. However, regardless of the soaring
8 K$ H9 W0 S; g3 |( Aprices that characterized the market - even during the typically slower summer: h/ `7 I; [5 L7 V# ~  p
season - it is expected that activity will become slightly more balanced, as
9 @" D) t# o9 v& ybuyers are becoming more reluctant to participate in the frenetic activity.

+ B' g+ D2 ^1 r& t) m0 G4 l4 S( ^8 ^4 b5 E
    Edmonton's booming local economy continued to thrive in the third quarter; G3 y8 n9 q! \! J2 }- z
as activity in the oil sands north of the city continued to flourish. Edmonton5 v: e$ ?6 B# A% n
remained the hub of activity for those coming to work in the oil industry,
# Y7 J# w$ c5 V& {$ g' Dmaintaining tight inventory levels across the city, resulting in prices
- E. S5 M3 M% e4 c+ x# Z3 Wincreasing at record levels. However, as inventory levels continued to improve0 ~9 Y  c8 c* ?  s( I
in the third quarter the rate of price appreciation should moderate slightly% f. a! J) x: A9 E: \/ p
towards the end of 2006.
    ( N: S; v9 H( C/ Z5 D8 M  M9 B
3 R& @6 A( q9 {  W2 o
While Vancouver has seen a slight reprieve from the severe shortage of
8 d5 r- x- [* D: W* o" l7 i4 Q1 ginventory that had previously characterized the market, supply is still unable# d: v6 T% x8 _! F+ s' l
to meet demand, driving house prices upwards. Vancouver has a very diverse
7 L& n) m1 p1 |  K* Xgroup of active buyers - from first-time home buyers to baby-boomers to8 k6 c  E; M4 p3 Y  ~' N1 D% {
foreign investors - all of whom fuel the demand for houses, placing added+ {& y  h% c$ f$ `
pressure on tight inventory levels.
0 r! O& B1 ?0 ]+ I% o6 h, v6 b, R9 p6 r' X% E. O& @/ D
    Victoria's market is vibrant and supported by strong economic
( ^8 H8 q) U9 Hfundamentals, fuelled by a booming tech sector and a migration of young people
* S# t# }$ F! z  s+ m; W6 Iinto the city that has continued to support the area's house price increases;
$ O6 X! |. y2 l! s  l6 _while increased inventory levels have afforded buyers more time when searching. [% E  y8 |% u, @4 |  u. U
for a home, helping to normalize the market's pace.
% z4 r. X  i' D: W
/ e$ l- G7 F1 Q    <<3 z2 ?/ G1 s) f- I! [# h" W- ^
      Survey of Canadian Average House Prices in the Third Quarter 2006" L. Z! [# W( a! Z
3 j0 O' ~( A9 O. L% f& @# l
    -------------------------------------------------------------------------
1 j+ ^4 I$ t- G5 U' z                 Detached Bungalows                Standard Two Storey9 R/ `# ]! m2 f( H/ ~% m- `8 y
    -------------------------------------------------------------------------
: U& c7 H# o  {7 S- n3 m- p% m4 A, D# }                     2006 Q3     2005 Q3    Bungalow     2006 Q3     2005 Q3
+ M4 |. y5 J! b& N% q& \2 Q/ J; `1 y    Market           Average     Average    % Change     Average     Average. z7 t* I8 w  v4 d6 L% {
    -------------------------------------------------------------------------
* U  g0 |! C% j( G5 ?% W% l    Halifax          186,333     173,333        7.5%     198,667     199,000
; b- J: f5 L' C& E+ N    -------------------------------------------------------------------------
, F3 X5 p$ E( O( s3 Z    Charlottetown    145,000     141,000        2.8%     175,000     170,000' ]# H4 S: g$ D* U
    -------------------------------------------------------------------------
& T# y/ M) G) c2 H+ ^% A$ `    Moncton          135,000     127,000        6.3%     129,000     123,000
1 D9 A, }  I2 f, O" k0 A& e  y: ]; p    -------------------------------------------------------------------------
6 l$ S/ u( ?% `  H' N: \    Saint John       141,200     142,900       -1.2%           -           -( O% u2 @# {: n& C1 g) y3 k
    -------------------------------------------------------------------------
% |. O; y' @" [2 j3 w4 L    St. John's       143,667     142,667        0.7%     200,667     202,333
5 ^# K& [0 i& B, f& t0 k6 _- b    -------------------------------------------------------------------------
6 u( N& g5 I/ Y2 D2 M    Atlantic         150,240     145,380        3.3%     175,833     173,583$ m3 R8 z! E5 z) J5 l) k2 `; ~
    -------------------------------------------------------------------------
  @* ]; N) i& T" a* @* o3 w    Montreal         213,691     203,500        5.0%     321,141     316,185
% |  h( x2 v5 o& e2 Z: h    -------------------------------------------------------------------------2 T6 E* b/ _7 _! L
    Ottawa           290,083     278,417        4.2%     285,667     273,250
* h% t: \4 Q" q4 W! v& V. W    -------------------------------------------------------------------------/ Z. _$ @1 D8 }3 K  d  \
    Toronto          373,368     355,882        4.9%     481,523     474,766
) l8 g& m6 v0 l, U# u    -------------------------------------------------------------------------' U, {/ D8 c3 ?8 j
    Winnipeg         181,579     159,860       13.6%     202,337     180,707" F) H& G6 H& T$ z
    -------------------------------------------------------------------------. y8 v- I* q! b( ~
    Saskatchewan     170,667     156,083        9.3%     182,600     166,500
/ _% ^. e& e7 o2 X    -------------------------------------------------------------------------
% w0 A& u$ B- U4 F: q    Calgary          395,067     252,411       56.5%     405,778     264,389+ B) w+ w3 z! {2 d
    -------------------------------------------------------------------------
) h* V) \5 l( _9 _3 `8 Y3 k1 X    Edmonton         286,857     194,857       47.2%     316,429     206,714
5 x) m# x7 t5 O    -------------------------------------------------------------------------
, Y8 X" B) r# R  _! G5 L0 w    Vancouver        704,250     601,000       17.2%     794,000     697,5000 k# {. F, }. j# L
    -------------------------------------------------------------------------8 N5 f6 }  X) b1 S* D
    Victoria         375,000     348,000        7.8%     403,000     391,000+ D- l0 q' X0 H* ]& Y/ V
    -------------------------------------------------------------------------
2 p/ W: u! }9 h1 z4 J. _8 S    National         300,365     258,202       16.3%     365,380     322,860
! W' p7 N& f/ j    -------------------------------------------------------------------------/ f" R( v0 Q4 n* y8 M+ f" d
; ]$ k2 X4 c, S; M2 ?& A2 @$ d6 Q
    -------------------------------------------------------------( o; U) d: E( h% X5 Q
                               Standard Condominium% R, j! h% h6 d8 s7 _
    -------------------------------------------------------------
- }) B; I7 E/ c) R! B+ o- d                    2-Storey     2006 Q3     2005 Q3       Condo0 P* o, s1 t6 a2 R
    Market          % Change     Average     Average    % Change4 K( x; f5 V. N7 U
    -------------------------------------------------------------
1 p9 @5 R; Y& X9 m1 L3 e, y    Halifax            -0.2%     142,000     103,000       37.9%
$ K# F% i( D) h3 t+ \5 I2 B    -------------------------------------------------------------
: m- f* K* C; b" G    Charlottetown       2.9%      98,000      98,000        0.0%" S3 o1 Q0 D# O$ B5 e" u- |
    -------------------------------------------------------------* H8 q% B1 J! m9 J; O( d5 C
    Moncton             4.9%           -           -         N/A
' B) i6 |& h( a, k. M    -------------------------------------------------------------7 G, U2 |5 }$ X0 r0 D
    Saint John           N/A           -           -         N/A
( Q/ _. t, M8 `0 w8 S2 u+ n    -------------------------------------------------------------
# e) O5 {! @1 i! [: e( P8 e    St. John's         -0.8%     146,333     145,667        0.5%: T& k- T' D1 y
    -------------------------------------------------------------
( q8 l) f7 s: h    Atlantic            1.3%     128,778     115,556       11.4%
9 l: w) F  C: x8 P    -------------------------------------------------------------( H, Q% Y; e/ Z/ F% y- _$ ^5 v
    Montreal            1.6%     193,190     188,016        2.8%( l8 o: r8 d2 M% V# x! A1 N
    -------------------------------------------------------------. S2 _# @- C6 b+ O  i
    Ottawa              4.5%     181,083     172,250        5.1%
. |/ W0 n, Z! D+ R0 Y' H! P) T    -------------------------------------------------------------" [& |; h: \& @! J3 M5 V, ~
    Toronto             1.4%     252,088     242,918        3.8%% ?* [: a4 V# B/ I* ]/ I7 B
    -------------------------------------------------------------, L6 \( W' r/ I4 B" f& j: p
    Winnipeg           12.0%     105,648      96,008       10.0%
, k8 V" E/ _. J. A- r* O: S    -------------------------------------------------------------. ~) d( ~0 J) K3 r( ?4 y; N
    Saskatchewan        9.7%     106,250     101,000        5.2%$ }. ~) l; O: O# w3 C
    -------------------------------------------------------------
; H7 b# U8 c5 H4 c# X5 e% Z    Calgary            53.5%     245,844     153,867       59.8%
2 j$ \1 I0 v/ n- f' |' l5 t7 J    -------------------------------------------------------------) R& o5 ~2 ?$ x# f$ O- k
    Edmonton           53.1%     200,433     131,500       52.4%
! g( h9 h  F# \" H2 q    -------------------------------------------------------------
( Q- y4 W4 O5 {! [    Vancouver          13.8%     366,250     323,250       13.3%
1 S/ r- p3 Z6 P    -------------------------------------------------------------- L) W* a$ Y; l" |8 V
    Victoria            3.1%     229,000     220,000        4.1%
' g) [/ I; I- A5 O7 D) V' @2 Y    -------------------------------------------------------------
9 G& {, u* G5 l, [( E0 L+ s    National           13.2%     211,562     185,296       14.2%
  Q" e& Y- F# S    -------------------------------------------------------------
8 m' {/ S4 j3 M+ ~2 f4 v    >>
; N; F8 g9 K  b. @/ N9 {7 R$ Y* Q2 u: \: |, k& M
    Average house prices are based on an average of all sub-markets examined1 _' P, \* s4 _1 k4 B
in the area, except for the smaller markets of Charlottetown, Moncton, Saint
3 h& j' Z9 r6 D, }- S; hJohn and Victoria.9 L& {9 G! r" ^5 Q; P/ g; E

7 K5 U5 T- `; T4 @# c: l7 }/ [    The Royal LePage Survey of Canadian House Prices is the largest, most4 Y! E: @6 d& Y! R, ]; j
comprehensive study of its kind in Canada, with information on seven types of
: ^: T: k+ e; S0 F: Ghousing in over 250 neighbourhoods from coast to coast. This release
0 I0 j9 X3 M6 nreferences an abbreviated version of the survey, which highlights house price
9 ~3 @2 Q: M* y2 Ytrends for the three most common types of housing in Canada in 80 communities
0 q7 L. E% ?8 b0 c' ^across the country. A complete database of past and present surveys is
& ]  u8 l6 m% \" {* r& R& d' e" ^available on the Royal LePage Web site at www.royallepage.ca, and current
$ w, A1 a& O9 |# Afigures will be updated following the end of the third quarter. A printable
( u. ^. I' [. b- ]. D7 [' ]4 yversion of the third quarter 2006 survey will be available online on
. L# X7 L2 J. p3 v% X% @November 15, 2006." a# |7 r$ n3 T# R6 {
    Housing values in the Royal LePage Survey are Royal LePage opinions of
; ?4 E0 I  ]; b& s) Sfair market value in each location, based on local data and market knowledge( a) @/ r( }  Z8 S4 {
provided by Royal LePage residential real estate experts. Historical data is
' _& L* r9 w6 h) V. {) r8 _available for some areas back to the early 1970s.
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