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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 5 E  s, R8 i$ T
$ Y6 I/ C6 l/ R5 `6 P
- Country's market poised to show growth throughout 2006 -
( A) X- k1 U+ T3 o- X
# o  I% P1 z; `7 S- o+ x' N; [    TORONTO, Sept. 28 /CNW/ - For most of Canada, the housing market4 G+ V& ^" M3 o. G+ o% O4 S) I- K5 ?
exhibited moderate price increases and stable unit sales during the third0 x1 A) k- N; B: E
quarter. Wide regional variances continued to be the dominant characteristic6 e$ _2 r( x" r4 D5 q2 ~: B
in the market, exemplified by frenzied levels of activity and double digit
- F2 v- [# W0 @$ A4 U! j! [price gains observed in the energy and commodity rich Western provinces, and
# |" T3 H+ m/ |- u! T) v' pmore reasonable sales volumes and moderate price appreciation in Ontario,
$ K2 g8 A+ Z  e$ S# oQuebec and Atlantic Canada, according to a report released today by Royal
+ a) i& X8 v- F* V6 q( \LePage Real Estate Services.
3 K, _; Z8 A0 u" `7 |) t' V9 x, L0 g/ x) B4 V: F3 W
    Nationally, market trends established through the first three quarters, g4 {" n/ [! r; d9 S: U& ^5 M
are forecast to continue for the remainder of the year. Robust economic
0 ~4 D! e' \; ]6 l; u- y  hconditions, low unemployment rates, modestly growing salaries and wages, and  ]. _, A- e1 ?; @# }8 U7 s: s. J8 {
sound consumer confidence contributed to the overall strength of the
3 N6 r9 Q; q# @  W4 g& t5 Y! D. @8 Fresidential real estate sector.
) b, S/ ?; D: n# G0 h) e" x0 \- W  d
    Of the housing types surveyed, the highest average price appreciation
+ D0 k1 P& ]1 D1 poccurred in detached bungalows, which rose to $300,365 (+16.3%)8 r% H$ j0 n* Y' |7 \  c5 y2 S! A
year-over-year, followed by standard condominiums, which rose to $211,562
  i) g2 z) O! o2 x; M(+14.2%), and standard two-storey properties, which increased to $365,3809 }8 E3 g3 h. ~: `! t$ Z" ?+ ^0 ]; k
(+13.2%).
! h! }: z: l$ {8 ^; ], m- q' W( F7 s, ^. |+ M
    "Canada's sturdy housing market continued to demonstrate steady growth
- r: P8 D; S3 N5 Lduring the third quarter. For all but the west, we have moved on from the  |" V) @& R- }3 M
frenzied expansion that characterized the first half of this decade, and are6 B6 s& q, V. c9 Q: |# p
poised to show continued growth at a more moderate pace," said Phil Soper,6 c/ T/ U: z2 R' ?, @1 Z4 R. O
president and chief executive officer, Royal LePage Real Estate Services.
: r4 E# x3 c3 O"Gone is the sellers' market that we have lived with for some years. We
6 U. \4 N8 s" K0 o6 @welcome the more reliable conditions that are characteristic of a healthy6 @5 y7 `7 u/ t
balanced market."
+ L0 G  q# }9 Y: m
: V" A! e: K, \' a; I: B; d    Despite the double-digit rise in average national house prices,
/ t5 G/ p4 ?$ x6 v7 _  ^4 e% jconsiderable regional variances were exhibited again this quarter. The shift
: }1 X# L' C: Y' e9 Q( R) K- pto balanced market conditions, which began in late 2005, has continued3 S1 R- d3 x0 g+ F- N
throughout most of the Central and Eastern regions of the country. In the core
, B# N& ]9 O+ u5 S0 Tenergy producing western provinces, the combination of very high in-migration,0 Z0 t: h8 H( c5 w8 i' I( ?
manageable affordability, and a shortage of inventory has driven record* H- D6 l! E$ ~' N6 l4 M/ h. n% g
breaking price appreciations.0 X3 C6 Q  c- R6 o) A  y( g4 O

/ r: w: ^- p- d' r7 _, {4 T    Echoing the second quarter and supported by Alberta's rapidly expanding
7 I4 z& i, \+ _" C, Q+ _economy, Calgary and Edmonton led the charge of Canadian cities with the$ z" A; H- I* a) @
largest house price appreciation in all housing types surveyed.* C- ~8 V1 s$ M! @
4 U/ B5 j' H7 [& i) I4 B
    In Ottawa and Toronto, growth remained steady, supported by solid
; E; m2 i8 c7 N, M: Weconomic fundamentals, an increase in available inventory and strong consumer, }; Y+ E" `; B* W
confidence. While the pace of price appreciation in Ontario leveled off  B1 h* n5 R! h5 P7 l
slightly, the province's real estate market remains poised for modest growth.
* U  D* L3 h3 z0 cIn Atlantic Canada, new housing and condominium construction offered buyers6 ^. ^: {' U% E6 y3 j
greater selection at more competitive prices, resulting in a slower rate of2 t2 D9 e. h8 W5 L" \
price appreciation when compared with 2005.7 e0 S, p5 s9 e! \7 [, O' m* w* y) R

, ?* d" R2 E. v2 s# p6 d    While the pace of growth in Canada has slowed, the domestic housing
# q# h* s7 I5 }; v/ kmarket is expected to outperform the American market. The economic and
3 _5 d1 W, x- ~, v- o% V1 Jfinancial fundamentals driving the residential real estate sector in Canada
; ]9 b% G/ D  _3 N/ W0 f9 o/ @0 Eare markedly different than those found in the United States.; q& X: Y  x& G, L" f1 B/ Y

2 b1 e0 A2 `: y* P6 I    Added Soper: "Canada's housing market is likely to outperform the
9 X; `* Z# \  q3 J) iAmerican market through 2007. A number of factors are working in Canada's3 B/ o6 c% {) Y7 v6 |+ y, q4 R
favour, including healthy personal and governmental debt levels, the
' w9 K+ d4 R2 C. Crelatively modest rise in interest rates in our country, and general
. `7 d) H9 x% d* oaffordability in our major cities. In addition, Americans are now seeing the% T! K* i% L2 R, E- g2 R' s
downside of a tax system that encourages maximum homeowner leverage, and
0 v7 e1 \9 p; @$ Taggressive financial products such as zero- and negative-amortization
& I" O% X8 X1 Q* }& Imortgages that work only in a high price growth environment."
8 G# K- p  b; \- R8 F" q  P$ ^! T& X) ~% k
    <<! e8 e2 P1 {% {% e
                             REGIONAL SUMMARIES  U0 n- n: _, b3 e+ a4 S7 v
    >>
) J% C3 @- F" ^/ s5 y8 v$ G1 f' u$ L* I; _
    Balanced conditions continued to characterize the housing market in) @) H& G6 @5 `2 u
Halifax, as significantly higher inventory levels helped to moderate the rate2 E0 \; A# F) W8 Q& S+ w9 {/ V
of price appreciation. Buyers were increasingly choosy, taking more time4 q* P. m+ Z  L" E& ?0 g% B
looking for newer, low-maintenance properties that were not in need of
; ?9 n9 ?' H. c3 Erenovations.
1 q8 {+ G4 T( s7 l
' B: a4 ?) _( s% n% {( j    The housing market in Moncton remained healthy and strong as a slight
) g* O* g5 O# tincrease in inventory helped to moderate the rate of price appreciation
9 j, G, d4 W# v4 C$ z, {compared to the same period in 2005. Activity was brisk throughout August and
" s6 X6 N0 L- ?) H. c6 ?$ o1 eSeptember and is expected to remain this way through the fourth quarter., b  `" a1 R9 h" D0 E7 ?
* t. e4 [: @/ R5 g
    The housing market in Saint John underwent its traditional summer
9 F$ B! a( u6 y! ?, l  islowdown in the third quarter, with activity picking up towards the end of the
" E  ]" j$ L+ f$ A) j; Uquarter. The local economy continued to thrive, as construction on a new
1 |: H  [( ?* Z4 Y( M3 u600,000 square-foot shopping area has begun, bringing several new box stores
0 l6 R% o( Y! G8 |# t! ]6 K5 Tto the area. Buyers have begun seeking less expensive fixtures for their homes7 w! F1 _% D  O: i4 J
and are instead opting for more affordable housing options.: x2 @! s, M+ G! B; F
' X5 `" R& m; {: m& l
    In Charlottetown, the housing market started to move towards balanced% @9 X; v/ d, p
conditions, as some sellers had to begin to lower the asking prices on their! P8 m8 r" Z6 A  H
homes to make them more competitive. Activity from out-of-town and US buyers! f! ?) {0 [8 }2 z$ p  h+ m
was down slightly compared to 2005, likely attributable to the strong Canadian( x6 M- \8 h/ w9 h$ ?; B- W; O0 l
dollar. Inventory levels began to creep up in the third quarter, providing
7 X0 ~5 B$ T* m# \& F, d! U0 D% Qbuyers with more options when looking for a home.
& D) T' H( q7 i1 l3 \5 C: _5 H! G. P  l( H* @
    Activity in St. John's slowed slightly in the third quarter, particularly
. @! I' \2 ^6 z* [among higher-priced properties, where there was a slight over-supply of homes
$ `, N+ o% v( e; [% X4 x1 Dpriced over $200,000. Listing periods have increased when compared with 2005,
, L1 d& C* o9 c. X. gas some of the pent-up demand that had characterized the market over the last
# \% K) a% V3 [# p3 @few years has been satisfied, resulting in more normal, balanced conditions.. X% ^. K% o1 Y7 E. c) I, R% S' w

* o4 X1 R1 M6 Q* h- m$ ~    Montreal's housing market recorded modest increases in average house  G5 v, D" G0 k0 O2 V$ [5 g8 v
prices, due to a slight seasonal slowdown in the third quarter as inventory
  \7 f1 k/ o" ]% I- f  slevels rose. Part of this can be attributed to the fact that many renting' u( j- B5 z- E! u6 V# m9 n' z3 h
first-time buyers were motivated to close on the purchase of a home by July 1,
% W6 S+ E6 Q. R( a0 mwhen rental leases expire in Quebec. Once this date has passed some of the
) v  R( v( n; F. _3 b# h% Y6 z' a( Cpressure is taken off the market, allowing buyers to visit more homes before
1 p$ [! E' M) D' e. g: qmaking a purchase.4 k( u6 P( t, p% p2 u3 X" q3 I# a, G: u

  i* }- g' b( Q0 W5 e    Ottawa held its position as one of the country's most stable housing1 Z; \5 u  S3 T# W
markets in the third quarter, reinforced by a vibrant local economy and strong& h: |$ e4 o& M2 |! `
confidence, resulting in modest increases in average house prices. The city
* N6 {9 t7 a' k- |! R: pcentre remained a bright spot in Ottawa, with homes in this area attracting! Q4 }& h( U- _# E8 H
attention due to their convenient location and proximity to downtown( n0 N9 p  ^4 N
amenities.$ J0 ]" h4 i+ G" n! r8 P
% F5 u2 L! p  W* X8 j; }9 T
    The housing market in Toronto sustained healthy activity levels0 D  U4 h8 a- u& X6 w
throughout the third quarter, as a strong economy helped to maintain demand- |+ o" T. i1 O( d3 n4 Y5 m. M
across the city, causing average house prices to rise moderately. Toronto has  @$ J+ F( y/ V0 r. x3 C
continued to experience modest growth in average house prices, and has been
5 d0 h1 c) }1 N! c5 m, A* k% S- ydriven primarily by purchasers who are buying homes as their principle
& m, k$ w9 i: y% e- J) n! Y4 i$ Z7 Uresidence, rather than for investment.
( r" b8 ^$ K! |3 C- ?0 _5 I$ V. r. u! l' s- J
    The vibrant Winnipeg housing market continued to show its strength as
' \1 f7 w( k4 V* V4 i5 vhouse prices rose during the third quarter. The booming local economy resulted
/ q! Y( E6 y9 Uin a historically low unemployment rate, helping to bolster consumer
- M. q9 }: U: T2 Pconfidence and Winnipeg's ranking as the city with the lowest capitalization
) [+ ^7 e; l7 Krate among the country's larger cities - helped to encourage buyers to enter
& g% F4 I0 N3 H3 ]3 W" b, athe market.* g& t  ^4 t& @" o

& {3 j9 t9 e# i0 U+ z# ~# V# u. P    In Regina, the market experienced a slight seasonal slowdown through
* Z1 U. t8 T$ V8 D% [July, as there were fewer purchasers in the market due to summer vacations. In
& s1 ^+ n* f' D$ \0 SAugust, activity resumed to the busy pace previously seen in the spring7 q5 ?- W* r' f, |; O
months, as the influx of purchasers made it more difficult to find a home due2 R/ l5 A( D) i4 Y0 U
to the shortage of available inventory.: j( A. Z: ~# E" ~8 `( v
( o1 h3 F' D# ?
    Activity in Saskatoon remained brisk as the market maintained its
7 B7 K7 U5 O) ~$ k3 d; \momentum from the busy spring sales period. The economy in Saskatoon remains8 W8 P4 k7 U( b0 U9 K& F- Y
vibrant, as employment opportunities are abundant with many businesses
8 P6 _) z& k1 Q9 K+ q; Vstruggling to make hires and having to recruit outside the province.+ n/ r1 ~& r( n
+ u1 F: `# p* @  _: v5 e
    Calgary's housing market recorded blazing average house price increases7 _$ I1 j+ h; p* {* Q7 m! n
in the third quarter, in all surveyed categories. The burgeoning economy, low
8 e# c; g2 a4 h3 r/ Runemployment rates and low inventory levels remained the leading factors that
; E$ ~  T: C2 [& @- G' [pressured Calgary's house prices upwards. However, regardless of the soaring
9 E0 P: a; E& Y; `* O! O: pprices that characterized the market - even during the typically slower summer
, J/ {6 ^! ?: u; ^. Bseason - it is expected that activity will become slightly more balanced, as: p$ R' t. W/ |& I
buyers are becoming more reluctant to participate in the frenetic activity.

2 E+ ]' \# O" P" ~9 F* X( w+ \7 j
    Edmonton's booming local economy continued to thrive in the third quarter
6 @( @6 \' ~  U; aas activity in the oil sands north of the city continued to flourish. Edmonton
& D# }& b9 @$ s7 t; e, v8 O" iremained the hub of activity for those coming to work in the oil industry,/ x4 }6 g, @  I7 A
maintaining tight inventory levels across the city, resulting in prices! `2 [4 q( Z* y9 X9 q5 D8 \3 O* x
increasing at record levels. However, as inventory levels continued to improve
- G/ Y/ A; N5 O* @in the third quarter the rate of price appreciation should moderate slightly
3 C8 f+ g$ b2 `: C, O0 gtowards the end of 2006.
    " q4 M! l  D0 U* l0 M5 U5 y; r

& `1 `8 ?' L' l$ `: ]9 mWhile Vancouver has seen a slight reprieve from the severe shortage of, u2 s! U  ^7 ~; R: Z5 G
inventory that had previously characterized the market, supply is still unable8 k9 z3 p' }0 J
to meet demand, driving house prices upwards. Vancouver has a very diverse" R6 z; k3 r& k9 O5 P; p/ e
group of active buyers - from first-time home buyers to baby-boomers to8 B) q6 h' o. `* i# [/ @+ S- n
foreign investors - all of whom fuel the demand for houses, placing added
; j9 N; v6 h+ C/ C, epressure on tight inventory levels.
' }0 A: k5 Y: \  ^' j0 h% o
! {& }# j$ X# }2 I  c/ p$ @/ v    Victoria's market is vibrant and supported by strong economic. X& p: _5 g$ [- W/ N/ g' |3 _6 k
fundamentals, fuelled by a booming tech sector and a migration of young people
; j; I! F) N6 B& F+ g# C. V: Winto the city that has continued to support the area's house price increases;
- v, @! d8 s  E8 t5 S+ t8 Nwhile increased inventory levels have afforded buyers more time when searching0 d: q- i6 u3 z* c1 \6 e1 v9 _
for a home, helping to normalize the market's pace.
1 ]* [# g+ h9 q$ V2 J0 C  W5 ~. S
: J. z: S" U) V8 x$ F! U    <<4 x' c6 K& A, n* q2 ^. F3 i1 J
      Survey of Canadian Average House Prices in the Third Quarter 2006& v( W& j* l& x! w5 o7 x

3 C* k  Y) I1 t0 l# P4 c7 S( a* }    -------------------------------------------------------------------------
. G. w1 I1 a6 R' T, l                 Detached Bungalows                Standard Two Storey3 B4 B( [, J# }% \
    -------------------------------------------------------------------------
1 I7 V  N- I5 J: u" p% p0 B  V( E  u) d0 h                     2006 Q3     2005 Q3    Bungalow     2006 Q3     2005 Q3
5 _. G5 S( G( d    Market           Average     Average    % Change     Average     Average8 I* v, X$ V, _0 G
    -------------------------------------------------------------------------0 w: S# i7 J; X) M
    Halifax          186,333     173,333        7.5%     198,667     199,000( G! Q9 g% f- r" g
    -------------------------------------------------------------------------6 m6 E) C( Q2 q+ d1 J9 p5 W
    Charlottetown    145,000     141,000        2.8%     175,000     170,0007 l" X  b6 R$ G6 r* n
    -------------------------------------------------------------------------
$ J, k1 b4 d: _- l3 ^3 m    Moncton          135,000     127,000        6.3%     129,000     123,000
7 u# l( s0 f+ `6 \# E2 a& Q    -------------------------------------------------------------------------
1 a$ N/ W9 N$ n  ~+ J    Saint John       141,200     142,900       -1.2%           -           -+ {5 [9 j) H9 a2 S% @% s
    -------------------------------------------------------------------------
4 L) X2 a# t- Z    St. John's       143,667     142,667        0.7%     200,667     202,3336 b8 D" ~+ L* c5 x5 W7 N
    -------------------------------------------------------------------------
9 p9 O0 ?( A; _    Atlantic         150,240     145,380        3.3%     175,833     173,5832 ?- L4 x4 {' C9 L% |* X) t7 L
    -------------------------------------------------------------------------1 w9 c2 @+ U" i9 K
    Montreal         213,691     203,500        5.0%     321,141     316,185: `8 V3 e) ?: Q8 w' h, Z, i
    -------------------------------------------------------------------------
) J, ?% c2 |2 m  @. z0 k    Ottawa           290,083     278,417        4.2%     285,667     273,250) e5 h# n& Q/ g9 |! j9 p. |. Y* v
    -------------------------------------------------------------------------
, t1 h5 Y5 ]: m+ D  v/ B. |) f    Toronto          373,368     355,882        4.9%     481,523     474,766' t& r4 Y, I; t" [
    -------------------------------------------------------------------------
4 r8 n5 s/ N/ `  D2 V! P    Winnipeg         181,579     159,860       13.6%     202,337     180,707/ E. ]1 M  B+ ~& M6 g
    -------------------------------------------------------------------------
# E% m. l( J  L8 l    Saskatchewan     170,667     156,083        9.3%     182,600     166,5002 w5 R  R$ h# M) }) L0 M
    -------------------------------------------------------------------------
+ B# D$ o, p  O. m8 T8 C    Calgary          395,067     252,411       56.5%     405,778     264,389( z+ |0 j& t+ ^+ N
    -------------------------------------------------------------------------+ E, i# M0 [+ a" A% ?/ d) ]
    Edmonton         286,857     194,857       47.2%     316,429     206,714+ R1 }$ X/ U  B. o/ q% E: G
    -------------------------------------------------------------------------4 i' H/ _+ z- B9 Y) M
    Vancouver        704,250     601,000       17.2%     794,000     697,500
6 Z1 B5 ]0 z5 T1 N6 P2 g! {" h. P+ W    -------------------------------------------------------------------------: W3 Q; ^" `$ n+ O
    Victoria         375,000     348,000        7.8%     403,000     391,0002 s% ~( r) Q- U& \# E! t: b3 b" f' s
    -------------------------------------------------------------------------
: Y# |. ?3 A, k! {; U, s  _    National         300,365     258,202       16.3%     365,380     322,860) i& d+ Z7 K2 q' C! T
    -------------------------------------------------------------------------
+ q. u/ V5 B" }( }( Y. f1 B
+ i' X! p  G; D7 i5 j) ?    -------------------------------------------------------------6 D( _0 |: ~( H) ^$ \
                               Standard Condominium
, q' F1 r4 v! w+ @- h# E    -------------------------------------------------------------
% S+ ^, ~/ ~( c$ \$ V                    2-Storey     2006 Q3     2005 Q3       Condo
) i' [1 K+ ^& T; }  _4 d    Market          % Change     Average     Average    % Change
, y& q- |' a( a& g    -------------------------------------------------------------! v. @- i( j3 e& R" ^+ I8 u
    Halifax            -0.2%     142,000     103,000       37.9%) h" |3 B+ i, G! U, A
    -------------------------------------------------------------
4 G* @( M1 T; a7 Y& N    Charlottetown       2.9%      98,000      98,000        0.0%
9 v) h7 Y- x' l6 R# J    -------------------------------------------------------------1 k/ U( N4 t+ _% z# O6 N
    Moncton             4.9%           -           -         N/A) n0 a# m; z9 L2 T8 f! K
    -------------------------------------------------------------/ u1 |) R% P+ _' t
    Saint John           N/A           -           -         N/A! }! }9 y& R$ C1 Z/ R" R0 ]
    -------------------------------------------------------------1 ?& p- q3 O" ?0 ?" `* V
    St. John's         -0.8%     146,333     145,667        0.5%* W' j1 ]' f' b4 d  O2 `
    -------------------------------------------------------------
7 j) D1 I3 |2 |0 L; q    Atlantic            1.3%     128,778     115,556       11.4%
- R0 v- H# u, K6 ]: q    -------------------------------------------------------------
( o+ z4 k$ ]! x& T    Montreal            1.6%     193,190     188,016        2.8%; H/ R6 C8 f! V/ x0 \9 |% G
    -------------------------------------------------------------% T  ~+ y, x8 v7 A, m/ v% R
    Ottawa              4.5%     181,083     172,250        5.1%4 P; p% e0 ^- z9 t8 i$ A1 h! |
    -------------------------------------------------------------
5 y' Y* }; b2 d, ?* `: O    Toronto             1.4%     252,088     242,918        3.8%
4 A# z8 A) j7 A! v    -------------------------------------------------------------
' j1 E, Y- q) ~$ N$ ], w4 P    Winnipeg           12.0%     105,648      96,008       10.0%) J- Y) n2 U" R7 |2 J0 S
    -------------------------------------------------------------
* m; j3 s, n! x  \    Saskatchewan        9.7%     106,250     101,000        5.2%0 k3 v7 ^( v/ e0 N  S2 I
    -------------------------------------------------------------- p, r* L, o, }2 ^
    Calgary            53.5%     245,844     153,867       59.8%: S+ l& X( I3 [
    -------------------------------------------------------------
6 |4 s& e6 M( u; l# h( s    Edmonton           53.1%     200,433     131,500       52.4%
& |  R5 j8 @$ r    -------------------------------------------------------------
, v. m9 f5 K. ]    Vancouver          13.8%     366,250     323,250       13.3%9 L% n) C  c4 ~; j, J
    -------------------------------------------------------------2 }% L: |% t" `5 K1 n5 g! a5 B3 Y
    Victoria            3.1%     229,000     220,000        4.1%
' d! n) j2 r  c" Q+ @8 f. w    -------------------------------------------------------------' t9 z. X# g0 O" w# s) y
    National           13.2%     211,562     185,296       14.2%
. ~/ }/ ]3 ]5 X: d  Y( g    -------------------------------------------------------------
3 G' c0 f4 m0 u4 K! g, y    >>( y: O0 Y# |7 R! e& j

, V0 r; j# W! C$ z; v# w- j5 H    Average house prices are based on an average of all sub-markets examined1 g5 l! d+ `& b% `$ }
in the area, except for the smaller markets of Charlottetown, Moncton, Saint
- y, N+ x. y9 S& j" Q3 T$ T+ G! dJohn and Victoria.
( x; D& N( v7 ^, {# A* ^# u, m( e" v/ u, ~+ C0 v5 H8 W
    The Royal LePage Survey of Canadian House Prices is the largest, most' r2 h) m  D) Y
comprehensive study of its kind in Canada, with information on seven types of
5 R% ^' _: ^9 Phousing in over 250 neighbourhoods from coast to coast. This release
/ W: E# f: C4 F9 _1 B4 greferences an abbreviated version of the survey, which highlights house price" i  u9 V- r' O& {, {* n& Q- x
trends for the three most common types of housing in Canada in 80 communities
* l! o6 N6 F3 m2 H7 l* gacross the country. A complete database of past and present surveys is
; T0 x: S5 i4 q# d; S  [available on the Royal LePage Web site at www.royallepage.ca, and current
( N# N: P( G$ K8 ^figures will be updated following the end of the third quarter. A printable
8 i* G+ o" y* ~7 Dversion of the third quarter 2006 survey will be available online on
! i/ q5 l1 U, u' |' Z9 z8 yNovember 15, 2006.
3 c- b# ^, r& X) s) z9 q0 p) i1 b9 u    Housing values in the Royal LePage Survey are Royal LePage opinions of  F3 F* i1 m/ Z9 f' h( v
fair market value in each location, based on local data and market knowledge* g3 |1 H* o# y9 Z
provided by Royal LePage residential real estate experts. Historical data is
' M, ?7 C, m9 ~( yavailable for some areas back to the early 1970s.
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