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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
2 ]$ ?8 C, w% e# Q, Z# d, A3 g
# M- k6 t* R* ]# k; x  N- Country's market poised to show growth throughout 2006 -
2 W# o- p. U2 P+ z, c# s
; V% _  M2 b4 m    TORONTO, Sept. 28 /CNW/ - For most of Canada, the housing market8 T! F6 ?; `+ {6 e
exhibited moderate price increases and stable unit sales during the third
8 v/ s4 O8 l; K$ T+ e* D* b, squarter. Wide regional variances continued to be the dominant characteristic. F( U8 ~! \- {5 Y. ?7 I9 s
in the market, exemplified by frenzied levels of activity and double digit
6 S; l; ]  w$ u9 K1 N6 W0 T6 yprice gains observed in the energy and commodity rich Western provinces, and5 w$ W% s7 t7 O$ J
more reasonable sales volumes and moderate price appreciation in Ontario,- E1 ?: V+ @; N8 M0 r
Quebec and Atlantic Canada, according to a report released today by Royal
4 i- X6 V& b& V8 z, t* I' ]LePage Real Estate Services.5 h0 A9 b# _, a$ i( l

: D6 E  {" k! u, r! I% r  Y' L    Nationally, market trends established through the first three quarters
! x5 X5 A3 ?* p& ^& C$ a8 ^% Bare forecast to continue for the remainder of the year. Robust economic
. h/ L& a  \/ t# V, T2 n5 t- Qconditions, low unemployment rates, modestly growing salaries and wages, and2 J5 V9 f% \6 y# N, J+ S6 a
sound consumer confidence contributed to the overall strength of the. `5 w0 V8 @6 M# ]/ w
residential real estate sector.% H. N  p& s  q+ Q; f% H6 Z' B. L

. A6 n' B& L& Z& ~    Of the housing types surveyed, the highest average price appreciation  ?4 U# ~' ^9 C6 Y9 w  u9 R& }0 o
occurred in detached bungalows, which rose to $300,365 (+16.3%)
0 g" [" q0 t4 L  F4 R0 nyear-over-year, followed by standard condominiums, which rose to $211,562" A5 b( F1 w' r; x, R
(+14.2%), and standard two-storey properties, which increased to $365,380
& `" a" |1 P; I. k$ q6 G) B(+13.2%).
5 a6 Y9 g1 r1 S) k# u% c) Y: i8 h( y) K9 s4 l. \9 \
    "Canada's sturdy housing market continued to demonstrate steady growth7 U7 T6 _* S8 |4 k& w) v8 C& O5 d/ \
during the third quarter. For all but the west, we have moved on from the0 A. ?" K" ]+ T
frenzied expansion that characterized the first half of this decade, and are
/ g- v- ^8 O, L; t/ dpoised to show continued growth at a more moderate pace," said Phil Soper,
) K0 n5 ]0 U4 opresident and chief executive officer, Royal LePage Real Estate Services.
' d6 {9 @9 Q! G1 Z6 i, D"Gone is the sellers' market that we have lived with for some years. We5 |5 A) o& _# |! \! j1 H' @- }
welcome the more reliable conditions that are characteristic of a healthy5 T9 [! w- H/ W
balanced market."
! i, {$ N3 I) D3 O/ T/ G
3 Y& W& z3 z2 I' J8 W' V    Despite the double-digit rise in average national house prices,7 M" i) Z4 s. f( R) P, m
considerable regional variances were exhibited again this quarter. The shift+ W; p; Q  [, h. v' [% T6 r
to balanced market conditions, which began in late 2005, has continued
7 C4 Y) F. ?+ M) X7 E8 {6 N( Nthroughout most of the Central and Eastern regions of the country. In the core  ^: @) w) X0 q  s( _
energy producing western provinces, the combination of very high in-migration,
# _! V, F* ?$ r4 j, Fmanageable affordability, and a shortage of inventory has driven record) W% x& b; g" w& P4 J4 v
breaking price appreciations.( y2 A9 C5 m9 U& D- G5 P5 h; c

9 d: T: [) F7 c* H9 h/ \    Echoing the second quarter and supported by Alberta's rapidly expanding
! K+ y- I& `8 t  W' i, meconomy, Calgary and Edmonton led the charge of Canadian cities with the
' \6 Y. @1 R: ?( P% V  t* d" Klargest house price appreciation in all housing types surveyed.4 `- s. R5 c/ }

$ w  Z; k9 J" P" Q+ I2 ]    In Ottawa and Toronto, growth remained steady, supported by solid2 ^, _6 K! m5 n! V+ C6 {- t
economic fundamentals, an increase in available inventory and strong consumer
. J5 V& r( y5 f& x5 pconfidence. While the pace of price appreciation in Ontario leveled off
1 \$ a7 M) I3 g8 T0 Eslightly, the province's real estate market remains poised for modest growth.
& E( M1 N0 {- k" B7 L+ G2 o- RIn Atlantic Canada, new housing and condominium construction offered buyers
) i* c9 d2 ]! q' E, M- ]0 }/ Y' _greater selection at more competitive prices, resulting in a slower rate of: K) b5 \7 |. {, t% W4 D
price appreciation when compared with 2005.
$ \/ o% m( n; T5 W: E7 b# H$ n6 M# t6 u% o3 g, v
    While the pace of growth in Canada has slowed, the domestic housing
' Z, p6 N  l( F3 Tmarket is expected to outperform the American market. The economic and4 x# D3 c# |( R+ X/ R( r
financial fundamentals driving the residential real estate sector in Canada: }9 |2 M% |- J1 L
are markedly different than those found in the United States.
- R0 t! D8 I# l1 M
9 p$ F1 ]. D8 N$ q+ o3 m+ Z    Added Soper: "Canada's housing market is likely to outperform the
9 j. `1 \& i# y( a' W* K2 TAmerican market through 2007. A number of factors are working in Canada's3 A6 g' m9 {8 K9 s. m# W5 r6 k4 L
favour, including healthy personal and governmental debt levels, the. y5 q. s3 R0 r, U9 i
relatively modest rise in interest rates in our country, and general
/ ~% C% Y# s! F' kaffordability in our major cities. In addition, Americans are now seeing the
0 g8 p! N6 P# Ddownside of a tax system that encourages maximum homeowner leverage, and
& g* m6 |, Z4 w0 U( |+ taggressive financial products such as zero- and negative-amortization9 s; x( d- Z7 P+ S
mortgages that work only in a high price growth environment."
5 i6 ?0 X4 z0 z6 j; v( a; P4 E$ C7 G1 A6 b" |
    <<+ p$ g- H- U0 z1 p7 n# `5 i+ R' |5 x
                             REGIONAL SUMMARIES! L1 }$ t$ M0 v7 v: E
    >>
7 ?2 L, X: n& I1 E- g  Q
! O: ]  ]! [! S8 T' i  V    Balanced conditions continued to characterize the housing market in- G, f4 g8 y- L
Halifax, as significantly higher inventory levels helped to moderate the rate
1 `7 I' C! x, p4 R4 P' gof price appreciation. Buyers were increasingly choosy, taking more time
3 ~! e& E' Z5 N3 C/ m3 vlooking for newer, low-maintenance properties that were not in need of
* G* f, N* h0 Z1 i6 N% {! q  zrenovations.9 b6 U# m. a9 Z) a# ~# X7 M% V

- J( U! J6 o% X7 K    The housing market in Moncton remained healthy and strong as a slight
  P& ?+ H) P9 V# |& h( r$ M/ ?8 Pincrease in inventory helped to moderate the rate of price appreciation5 D) ~7 @' I# j( O) a
compared to the same period in 2005. Activity was brisk throughout August and' A! p4 G4 z( q; f- T; C; {* _
September and is expected to remain this way through the fourth quarter.# ]& n" U3 r0 |& u

. E# j: s& x) H4 b0 }3 U" X    The housing market in Saint John underwent its traditional summer2 j; F1 J/ U0 v+ I: E, G
slowdown in the third quarter, with activity picking up towards the end of the
+ o6 h4 q* L: cquarter. The local economy continued to thrive, as construction on a new
0 f8 {/ b0 I! G$ ^600,000 square-foot shopping area has begun, bringing several new box stores
# A, i4 z" `1 M( x8 R  cto the area. Buyers have begun seeking less expensive fixtures for their homes5 L# u/ B. p) V/ N: N% }
and are instead opting for more affordable housing options.
% a& r+ ^' s$ g* z! l( U0 s0 t- B
    In Charlottetown, the housing market started to move towards balanced/ G( ^% ]; j3 L+ G0 N7 b5 X
conditions, as some sellers had to begin to lower the asking prices on their
* r3 F' T0 F: G6 ]3 q. Ohomes to make them more competitive. Activity from out-of-town and US buyers
# y  u6 u. h* I5 G& K9 I! gwas down slightly compared to 2005, likely attributable to the strong Canadian, i' [0 S% B( O* W0 v
dollar. Inventory levels began to creep up in the third quarter, providing
6 P% v/ \4 M8 H  {1 }# C, abuyers with more options when looking for a home., H% i- Z' d8 \2 _, r) {+ ]6 l
4 s  X% ^9 V: u9 f. \
    Activity in St. John's slowed slightly in the third quarter, particularly
* j/ \' w* P  ^. Hamong higher-priced properties, where there was a slight over-supply of homes
* s& T$ k3 s0 upriced over $200,000. Listing periods have increased when compared with 2005,
: z' F; {1 l$ @0 Aas some of the pent-up demand that had characterized the market over the last+ L% y! S! T6 p/ E! g1 p: k
few years has been satisfied, resulting in more normal, balanced conditions.# B: h3 c) D+ T. ?! l
9 w* _% v3 M6 r& e6 m3 _# `
    Montreal's housing market recorded modest increases in average house. W" w7 g. N, W- [
prices, due to a slight seasonal slowdown in the third quarter as inventory
% h0 p8 m+ U* m" R8 hlevels rose. Part of this can be attributed to the fact that many renting
6 s; z0 G3 c( F7 m& R4 D' G6 ?! sfirst-time buyers were motivated to close on the purchase of a home by July 1,5 J8 E$ T" r3 P& J" l* M
when rental leases expire in Quebec. Once this date has passed some of the6 h3 g- U  J5 I  S$ u# p
pressure is taken off the market, allowing buyers to visit more homes before9 |1 {0 `3 o0 \' ~
making a purchase.
+ a5 |' I4 ^  S! J+ B) l# L- K  L2 w' M. a6 p
    Ottawa held its position as one of the country's most stable housing1 ~+ R4 x+ Z$ O, |  \
markets in the third quarter, reinforced by a vibrant local economy and strong
1 i) q( {, @5 M$ O0 \6 uconfidence, resulting in modest increases in average house prices. The city
# O# m' r! x0 G- O0 ncentre remained a bright spot in Ottawa, with homes in this area attracting
0 }/ C& F7 j6 iattention due to their convenient location and proximity to downtown
' ?% N; ^( U, D0 m! iamenities.
2 l" y* _3 w  ~( |7 o9 |+ d% u, l
4 b1 k0 O; Z/ w. \    The housing market in Toronto sustained healthy activity levels
7 w7 l6 T4 r( e4 t6 z$ A+ {throughout the third quarter, as a strong economy helped to maintain demand0 i) R" ?5 o- ~$ [
across the city, causing average house prices to rise moderately. Toronto has
' u' F. j& f: L6 m7 @( U4 wcontinued to experience modest growth in average house prices, and has been
! ~9 J+ F; b! G+ k+ A+ W' Qdriven primarily by purchasers who are buying homes as their principle
) e) h1 \- T$ J' P5 kresidence, rather than for investment.
$ L! y9 Q; v+ a; r. R: f- l: [: J. A8 Z* C, O6 _8 r& M# ?$ @
    The vibrant Winnipeg housing market continued to show its strength as: K8 k( Q6 G" C6 {' M
house prices rose during the third quarter. The booming local economy resulted+ R$ M1 s/ \: R8 Z6 T* g6 @
in a historically low unemployment rate, helping to bolster consumer+ E  s# s2 x3 b& _# Q: j
confidence and Winnipeg's ranking as the city with the lowest capitalization
3 Q2 P# c4 ?9 w$ X2 I7 c7 drate among the country's larger cities - helped to encourage buyers to enter9 ~: t1 ]6 Q' c4 f* V% L/ G4 s
the market.0 f0 ?# _1 e; N% v4 w3 i

+ A' P* @( Y9 s% [9 ~+ b5 S& w    In Regina, the market experienced a slight seasonal slowdown through
1 {2 a$ X+ S( Z9 p; kJuly, as there were fewer purchasers in the market due to summer vacations. In
" T0 b# D2 Z$ }$ dAugust, activity resumed to the busy pace previously seen in the spring- N& L1 K. }' g7 G6 n' g0 z, q
months, as the influx of purchasers made it more difficult to find a home due3 K; ?) X9 f# j3 M8 ?' d# J) \
to the shortage of available inventory.0 I3 B% M+ L+ J" h. |. D$ p
; W3 A7 ?6 R; Q+ f6 R! R
    Activity in Saskatoon remained brisk as the market maintained its
/ s% x5 l+ ~& \momentum from the busy spring sales period. The economy in Saskatoon remains
* ~. c/ @9 n) w9 c9 `vibrant, as employment opportunities are abundant with many businesses0 x* j2 l2 h% f2 ~
struggling to make hires and having to recruit outside the province.7 I! u# [& y# V& t, [

& n: S1 R% u3 r6 p    Calgary's housing market recorded blazing average house price increases. G3 U6 [( G" h* S$ `9 e
in the third quarter, in all surveyed categories. The burgeoning economy, low* m7 ^1 P) P. H4 J1 f9 ^& z6 |
unemployment rates and low inventory levels remained the leading factors that/ `/ o7 b3 O7 e% j) h
pressured Calgary's house prices upwards. However, regardless of the soaring
8 R4 P3 g* s0 s; Uprices that characterized the market - even during the typically slower summer
3 ^$ A4 I* P+ Z9 I1 X9 \season - it is expected that activity will become slightly more balanced, as; t" I3 e0 o# c/ r9 v
buyers are becoming more reluctant to participate in the frenetic activity.

$ r9 f. z- r0 B7 J# }
& Z$ ~1 Z7 |" x/ }1 `% X# X; ]9 L8 V    Edmonton's booming local economy continued to thrive in the third quarter+ i) g! @6 s8 }% M' Y
as activity in the oil sands north of the city continued to flourish. Edmonton4 @$ j/ U1 |3 ~. l
remained the hub of activity for those coming to work in the oil industry,
& Z' R4 ^4 M! Q7 |) Gmaintaining tight inventory levels across the city, resulting in prices
5 E) l% |  Y% s2 I3 h* vincreasing at record levels. However, as inventory levels continued to improve
$ C- i9 u! H) A/ S1 e" bin the third quarter the rate of price appreciation should moderate slightly
: @) A) X! H9 h% ~/ E+ Qtowards the end of 2006.
   
1 C8 H9 [" z. J0 K$ n+ i4 d# J% B6 B
% U1 b- v; F& p; IWhile Vancouver has seen a slight reprieve from the severe shortage of3 m+ s$ c2 f' `5 e+ d* V
inventory that had previously characterized the market, supply is still unable& V: u6 f2 q) h3 i8 W# Y
to meet demand, driving house prices upwards. Vancouver has a very diverse
- F& ?+ `- X; ], S7 Kgroup of active buyers - from first-time home buyers to baby-boomers to4 ^- {; Y# I1 A
foreign investors - all of whom fuel the demand for houses, placing added. R8 @& u( i8 z% H- h% G& r
pressure on tight inventory levels.0 K0 I6 }$ h4 A7 ^6 I. ]( a

3 {) u: L- ~, P1 t( ?8 p: x, k    Victoria's market is vibrant and supported by strong economic
  w! v1 g& g# d3 P$ @fundamentals, fuelled by a booming tech sector and a migration of young people
* E$ P- |9 ~" Y! H- vinto the city that has continued to support the area's house price increases;
2 F8 n" C) M  f0 s7 E8 t1 Kwhile increased inventory levels have afforded buyers more time when searching/ ^' f- l  c# s! A1 O$ H1 l
for a home, helping to normalize the market's pace.' q. `# U; M- I. @
9 o4 _' ]3 S9 o: x( ^( Z/ V) ]
    <<
) d# ^. e" {$ }2 y# D! c      Survey of Canadian Average House Prices in the Third Quarter 2006
. l$ k8 X9 x/ J9 c
/ S. c9 Q* O# R5 R9 N8 e5 [$ X4 J    -------------------------------------------------------------------------
. x- f% B2 |# w* I3 R: {. j; E                 Detached Bungalows                Standard Two Storey: S" c; q9 l: g5 ]0 V
    -------------------------------------------------------------------------6 |8 v3 B) P- T5 E
                     2006 Q3     2005 Q3    Bungalow     2006 Q3     2005 Q3
0 i* y/ M0 Q( _: c    Market           Average     Average    % Change     Average     Average
: C# r4 X6 g" C, I0 |    -------------------------------------------------------------------------7 m" I, g; J6 {; \
    Halifax          186,333     173,333        7.5%     198,667     199,000
% J+ Y% ]9 _+ n- g    -------------------------------------------------------------------------
7 d+ P# V' A( r! A$ p( n; h9 f- k! v    Charlottetown    145,000     141,000        2.8%     175,000     170,000
9 D7 E% l/ O2 y- V8 A    -------------------------------------------------------------------------
9 K' `- m6 o0 p; D) X8 M    Moncton          135,000     127,000        6.3%     129,000     123,000, M' Y3 Q( P$ Y  x1 a: Z
    -------------------------------------------------------------------------) h( h  i2 M" n7 H/ x
    Saint John       141,200     142,900       -1.2%           -           -
5 Z$ Z7 @3 p2 \1 @, W    -------------------------------------------------------------------------& V. v7 l2 L. F1 @# ~
    St. John's       143,667     142,667        0.7%     200,667     202,333
/ g# y# ^" ~" D    -------------------------------------------------------------------------
. l, h- ^( w  j1 u    Atlantic         150,240     145,380        3.3%     175,833     173,5836 r# J! m# L& Z7 Z# v
    -------------------------------------------------------------------------
) ]  h/ w1 _" Y% d* U    Montreal         213,691     203,500        5.0%     321,141     316,185
" \8 Q- D5 B3 e9 l    -------------------------------------------------------------------------6 r% ?3 E9 `; Q, E$ {) b2 P
    Ottawa           290,083     278,417        4.2%     285,667     273,250
9 r* ]1 _+ h$ D8 A% h) V    -------------------------------------------------------------------------
& H9 n5 F# [$ G. R" b    Toronto          373,368     355,882        4.9%     481,523     474,766- u8 ^7 Y9 E4 Z+ m3 m1 N* k
    -------------------------------------------------------------------------
+ T; [- E) {! W* l( Q7 r  Q    Winnipeg         181,579     159,860       13.6%     202,337     180,707
; f& b6 Q7 h9 W( ?# m6 }5 C6 ]    -------------------------------------------------------------------------( K9 K  b& C: Y( L& J- M
    Saskatchewan     170,667     156,083        9.3%     182,600     166,500
2 W9 h5 O2 q3 S0 W    -------------------------------------------------------------------------
% p/ R& S' j! r    Calgary          395,067     252,411       56.5%     405,778     264,389
; B/ K8 P2 h- h1 k1 F    -------------------------------------------------------------------------7 w; w: z( ]( f: g$ k
    Edmonton         286,857     194,857       47.2%     316,429     206,714- r& G9 R7 E. ~3 r2 J* V
    -------------------------------------------------------------------------8 Y' r+ l( C4 b. |
    Vancouver        704,250     601,000       17.2%     794,000     697,5004 n( M2 H- ^3 c; G" ?3 X
    -------------------------------------------------------------------------
1 {# {% }! ?/ T" g" Y    Victoria         375,000     348,000        7.8%     403,000     391,0005 x* \1 F) K; m9 I
    -------------------------------------------------------------------------
- G8 [. v# P% X" c: N# y. i2 c    National         300,365     258,202       16.3%     365,380     322,860! Q" N7 v" Q9 ^1 Z
    -------------------------------------------------------------------------4 T6 g! r% i# Y2 D& k( a" z

/ y# R2 `+ _; C2 A: _  D    -------------------------------------------------------------
8 Q7 H, @5 H+ x" y                               Standard Condominium
0 T9 C7 y5 d! J+ c$ b3 _    -------------------------------------------------------------. E# D4 m$ P5 w  K( y# L3 N
                    2-Storey     2006 Q3     2005 Q3       Condo7 o& V4 e. l3 g
    Market          % Change     Average     Average    % Change
: m# m( p3 h# n0 d8 W) d    -------------------------------------------------------------
5 t. [& r$ o$ b3 w% a    Halifax            -0.2%     142,000     103,000       37.9%3 G  f% m: i, ~
    -------------------------------------------------------------' J) [7 D* m  K' a
    Charlottetown       2.9%      98,000      98,000        0.0%( O3 @  u! Q7 W9 o' \
    -------------------------------------------------------------4 Y( }! d& C: Y# h2 r
    Moncton             4.9%           -           -         N/A5 f" w& n  k% ]8 |+ I$ k; o
    -------------------------------------------------------------( U/ b" E0 E& T# F+ w- ^* o
    Saint John           N/A           -           -         N/A
( Q- ~( b8 l4 A9 z1 j    -------------------------------------------------------------
$ x8 d! ^- U7 a  A0 f2 k8 k1 t- Y% A+ t    St. John's         -0.8%     146,333     145,667        0.5%& O" K; q. \4 C" Z) d! ]
    -------------------------------------------------------------& k: u; i+ C0 Y. T% J7 y
    Atlantic            1.3%     128,778     115,556       11.4%  w( O9 E0 w  J2 W: ~2 Z
    -------------------------------------------------------------
1 O% ?' p- R2 t. F" a, O5 ^    Montreal            1.6%     193,190     188,016        2.8%
) ^( ^4 m7 `& L8 l    -------------------------------------------------------------
- Y! G+ u# Y2 z; {    Ottawa              4.5%     181,083     172,250        5.1%! F! q& T3 n8 e( P+ q  C4 ~, r% p4 z- z
    -------------------------------------------------------------
+ ?% x, s; ?4 s* o    Toronto             1.4%     252,088     242,918        3.8%6 Y% i6 X2 G1 b
    -------------------------------------------------------------
* H/ Q# V: x, \4 u    Winnipeg           12.0%     105,648      96,008       10.0%4 D  C0 ^! t  J" G8 E
    -------------------------------------------------------------; D( _5 j" O5 ~
    Saskatchewan        9.7%     106,250     101,000        5.2%* r% J  k( l( D+ E% y8 A
    -------------------------------------------------------------1 G& V( ]3 d3 o6 Q
    Calgary            53.5%     245,844     153,867       59.8%
9 a  H* n- _1 D4 B) Y    -------------------------------------------------------------
6 ]6 t* w! v* t* Q, u+ ~  h    Edmonton           53.1%     200,433     131,500       52.4%
# D) g3 X$ b) ~, z% ^+ ^! m    -------------------------------------------------------------% L  D# x  a" F, N
    Vancouver          13.8%     366,250     323,250       13.3%- B# I0 x$ |, K, [, _: ?8 F$ z
    -------------------------------------------------------------( j( _- x8 J$ D6 y; K# t
    Victoria            3.1%     229,000     220,000        4.1%
& L8 m( s. v# H# Q3 x    -------------------------------------------------------------9 F, @0 o1 l9 V' c3 j
    National           13.2%     211,562     185,296       14.2%4 \( D) y$ z9 ~4 s' _1 y
    -------------------------------------------------------------
' s* |! `$ m. C* S    >>+ _. _; v8 }3 X7 C7 k& r

: p) w6 H) C. |0 O% B" B; R    Average house prices are based on an average of all sub-markets examined! ?8 l' q  C( @" p5 P
in the area, except for the smaller markets of Charlottetown, Moncton, Saint
$ N8 u( v0 t( E' \7 b( q4 A- iJohn and Victoria.
9 ^  Y$ ^3 Q. f- h! Q# F
+ h) B! ^) b% J- _8 T# K* k7 |2 C9 x    The Royal LePage Survey of Canadian House Prices is the largest, most
5 Y+ g2 t! X) ~, n: {8 ^comprehensive study of its kind in Canada, with information on seven types of
- V2 K" u: O* C$ _! z8 P+ P8 r" hhousing in over 250 neighbourhoods from coast to coast. This release
8 t  B5 H9 x7 H% vreferences an abbreviated version of the survey, which highlights house price7 ~( J3 n: }( y+ W! B. d
trends for the three most common types of housing in Canada in 80 communities
1 b- j" a* _; Q' R1 [1 i$ e7 f/ Oacross the country. A complete database of past and present surveys is1 D( d3 V+ e# J4 r
available on the Royal LePage Web site at www.royallepage.ca, and current
2 R2 O7 H. X3 G7 W9 Jfigures will be updated following the end of the third quarter. A printable
9 e' c; @" ~# N: {3 ]& Sversion of the third quarter 2006 survey will be available online on( ^' w7 J# r; E& O0 a
November 15, 2006.5 m& X6 K# M0 y- a7 W5 ~
    Housing values in the Royal LePage Survey are Royal LePage opinions of/ q0 [& W7 r: f1 z3 I
fair market value in each location, based on local data and market knowledge0 T- S. W/ m7 v( n1 f
provided by Royal LePage residential real estate experts. Historical data is
4 [) U. l" }* Z! A9 S, S* u. lavailable for some areas back to the early 1970s.
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