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Canada's housing market both vigorous and stable
& D. ?% }1 Z' a/ m
$ P" }: ~4 |8 P2 Y% I4 p3 ]4 H- Country's market poised to show growth throughout 2006 -
, }9 q$ a' S- Z7 t" j
) X9 m O; O# Q5 @, d TORONTO, Sept. 28 /CNW/ - For most of Canada, the housing market
5 a) V& ?. B1 y! A; Uexhibited moderate price increases and stable unit sales during the third) U( j+ V; U. n* Q, z0 y9 G8 t: E$ I
quarter. Wide regional variances continued to be the dominant characteristic
" I# c7 K: t7 w6 r. |/ F, g3 lin the market, exemplified by frenzied levels of activity and double digit
9 n5 X$ i# F2 A$ `0 w% }/ }" ]7 Eprice gains observed in the energy and commodity rich Western provinces, and0 G& q: R/ D, i0 j: U6 M
more reasonable sales volumes and moderate price appreciation in Ontario,
- k2 L, J2 q9 f, b- jQuebec and Atlantic Canada, according to a report released today by Royal
( I' U0 L0 c* V# X( k0 HLePage Real Estate Services.
W8 J+ a3 x9 V* H% R
4 ~' k0 [' u, C Nationally, market trends established through the first three quarters
% _8 a: O: `+ v- f% Z- z5 A) \" p* qare forecast to continue for the remainder of the year. Robust economic( F2 P9 O) {5 h0 v* J) N
conditions, low unemployment rates, modestly growing salaries and wages, and
% @# a) t; d( s$ ~. ysound consumer confidence contributed to the overall strength of the
; W+ j/ X( s( p: |: N7 Dresidential real estate sector.+ I4 l7 N9 l$ Z' {+ N+ a
5 G7 W3 ` c& T( g7 S Of the housing types surveyed, the highest average price appreciation9 g* O. T$ e+ E# D
occurred in detached bungalows, which rose to $300,365 (+16.3%)
) B. R+ E' S4 {3 c# N, i: Ayear-over-year, followed by standard condominiums, which rose to $211,562
2 P: U! |1 q/ q0 x5 v; w+ a(+14.2%), and standard two-storey properties, which increased to $365,380
: ^7 ]6 Y# c, |- z* G(+13.2%).
[+ Z4 P( T L( d' D# J2 ~
' d, E& ]- ~9 J/ V& F "Canada's sturdy housing market continued to demonstrate steady growth+ F& u) [& f# v& C: K0 ]
during the third quarter. For all but the west, we have moved on from the4 m& g* ?. `2 T$ @& s8 A! L8 N: `4 K
frenzied expansion that characterized the first half of this decade, and are
8 X% @! ^5 @. \& g; B, npoised to show continued growth at a more moderate pace," said Phil Soper,# D3 z! `/ y* f1 B! x+ Y, ~/ _
president and chief executive officer, Royal LePage Real Estate Services.
& f1 E1 Q7 Y- j"Gone is the sellers' market that we have lived with for some years. We
% _ G( @5 c4 l8 nwelcome the more reliable conditions that are characteristic of a healthy
8 y/ t4 }- |& Z: u6 ^; h2 }$ M' {& _balanced market."
* F; H5 @, X" X2 [; ^# l7 D3 E$ A( u6 m+ o
Despite the double-digit rise in average national house prices,
3 E# f1 T& F# xconsiderable regional variances were exhibited again this quarter. The shift% `2 i" Y& j3 }7 a7 u. V
to balanced market conditions, which began in late 2005, has continued' _) l- P z$ t+ g! o n
throughout most of the Central and Eastern regions of the country. In the core2 c( u8 s6 F0 ~. S3 \4 S
energy producing western provinces, the combination of very high in-migration,, H1 R# n& Z3 _ ?7 s% P
manageable affordability, and a shortage of inventory has driven record ^1 A& c& I% s8 W/ l3 x c% q" ]
breaking price appreciations.
' |! u6 A: c% O6 _$ |& I4 l- P; `, W
8 T9 D. ]# ^, j3 J Echoing the second quarter and supported by Alberta's rapidly expanding9 C, j6 i1 f2 [. B3 Z
economy, Calgary and Edmonton led the charge of Canadian cities with the
1 c1 C, E9 _/ p6 jlargest house price appreciation in all housing types surveyed.$ K6 b1 l4 [0 b) t( g
! b ?6 {6 v4 Q* ?+ p In Ottawa and Toronto, growth remained steady, supported by solid7 { s' d* T5 L7 _( t
economic fundamentals, an increase in available inventory and strong consumer- n3 Y" T3 M+ I+ \# ]. B* U6 Z$ X
confidence. While the pace of price appreciation in Ontario leveled off
/ K- C+ C% {! |( g, H1 M; fslightly, the province's real estate market remains poised for modest growth.
$ A- E F1 Y& K' oIn Atlantic Canada, new housing and condominium construction offered buyers& v7 ]5 i! t3 E5 A0 u0 S5 I
greater selection at more competitive prices, resulting in a slower rate of
/ L/ ^, L, C, |/ bprice appreciation when compared with 2005.
& _9 n3 s) @6 U& M! V/ i6 l" {
" E+ J/ V9 G/ N3 W ?$ e While the pace of growth in Canada has slowed, the domestic housing
8 u" C" a; ]& r Q9 K/ L7 Jmarket is expected to outperform the American market. The economic and4 Z6 q# [" m* O. f' J# b+ E0 ~& ^3 Y
financial fundamentals driving the residential real estate sector in Canada: l* j. w% k" g, f0 P; [
are markedly different than those found in the United States.5 j' y9 o4 i9 A4 ^8 k+ f+ p
6 L. j, p* g1 i) p0 G Added Soper: "Canada's housing market is likely to outperform the1 \, B) }& W' ^+ R: X: Q
American market through 2007. A number of factors are working in Canada's
4 G* I N! ~5 Q2 U) v/ zfavour, including healthy personal and governmental debt levels, the. y% a$ f$ t" c
relatively modest rise in interest rates in our country, and general
: n2 y+ `4 D; \+ \/ E; u; G( Haffordability in our major cities. In addition, Americans are now seeing the
0 p1 s) e, ^. [downside of a tax system that encourages maximum homeowner leverage, and
7 S2 V E$ F; K! ?' X |) Caggressive financial products such as zero- and negative-amortization% I7 K# L7 h* b# |% C* S' m8 Q
mortgages that work only in a high price growth environment."
) f2 w9 q$ }; o% r8 a- b! }; I
% Z% Y4 }1 B/ `7 s5 G <<
9 o% F# L% Z Q! i# y" e) r! ^ REGIONAL SUMMARIES" p6 v% T( e* s8 Q7 l0 o
>>' z1 O4 k7 { x! i8 B5 e
+ p) H# u0 ~; J& V, e5 W Balanced conditions continued to characterize the housing market in
- Y7 [8 {, j7 B7 d2 f+ q) r; C/ s! XHalifax, as significantly higher inventory levels helped to moderate the rate& ]8 f% K' C3 [! V- \4 s* e
of price appreciation. Buyers were increasingly choosy, taking more time, d d) }" c. @) c& M2 K( l
looking for newer, low-maintenance properties that were not in need of
- t i; b( M6 v3 G3 g9 M: srenovations.
% N) D& G7 }8 L' R6 W. Z3 T. `. X/ `" F2 _
The housing market in Moncton remained healthy and strong as a slight
) h, ~! ]: e3 {2 U) v5 jincrease in inventory helped to moderate the rate of price appreciation' e* \( w6 @& U9 {$ l- T
compared to the same period in 2005. Activity was brisk throughout August and' A+ h7 u1 Y( Y% @: X
September and is expected to remain this way through the fourth quarter.
+ W: d/ _7 o) x# ~; U% G' y7 X: Q) T& x: j8 Y0 @( [
The housing market in Saint John underwent its traditional summer
0 g9 M4 |. H8 a$ N1 b s# |slowdown in the third quarter, with activity picking up towards the end of the
$ s3 {3 V. a0 b) \quarter. The local economy continued to thrive, as construction on a new
) p& Q3 j0 ?* i% y9 d& @# G: L600,000 square-foot shopping area has begun, bringing several new box stores
9 ^! w8 l6 y) G2 y* Wto the area. Buyers have begun seeking less expensive fixtures for their homes
4 c, Z- @" _4 j1 r7 ^1 i0 s: ?: Dand are instead opting for more affordable housing options.# N: \- u. ]! Q% P& n4 ]0 I
4 q4 q' `& m* C* ~
In Charlottetown, the housing market started to move towards balanced
" S/ P9 d1 c4 e& L- R# I* xconditions, as some sellers had to begin to lower the asking prices on their
h$ `' q# a) Y: F; ihomes to make them more competitive. Activity from out-of-town and US buyers7 T" p6 U- I K2 e* c+ `
was down slightly compared to 2005, likely attributable to the strong Canadian: m* R5 @+ O0 \. X
dollar. Inventory levels began to creep up in the third quarter, providing) G; X3 W& N8 Y. R0 o8 M5 z
buyers with more options when looking for a home.2 S/ H( B2 Z9 \; Z0 S& h
/ c, h4 S% o- u2 Q- L3 p Activity in St. John's slowed slightly in the third quarter, particularly
0 O& z4 Z0 S7 n3 A6 l1 p3 ?among higher-priced properties, where there was a slight over-supply of homes$ q0 d8 v% w* w: |, d) \3 W; G6 f
priced over $200,000. Listing periods have increased when compared with 2005,
- Q' u$ g# s' g0 s: Xas some of the pent-up demand that had characterized the market over the last2 u4 {1 U8 D* k" u
few years has been satisfied, resulting in more normal, balanced conditions.& e' s4 o5 y( s( J- Q. W
3 r& [; s6 u2 U+ ~ Montreal's housing market recorded modest increases in average house
6 H4 E# L, T. o3 ]9 Q; ~; nprices, due to a slight seasonal slowdown in the third quarter as inventory2 T9 _2 p; B8 O8 x& Y) G' t% s
levels rose. Part of this can be attributed to the fact that many renting
9 t/ L9 P4 g1 L! lfirst-time buyers were motivated to close on the purchase of a home by July 1,
. L! T( r+ k# c1 owhen rental leases expire in Quebec. Once this date has passed some of the
: J; m( Z9 D+ k! H/ `/ s. |+ upressure is taken off the market, allowing buyers to visit more homes before4 y6 K! |' r; s' b9 m
making a purchase.
4 |$ h7 e# s* z/ j, I+ A
& b7 O/ M2 D4 n5 o8 T, Y# L2 G Ottawa held its position as one of the country's most stable housing7 \6 `1 r7 S2 T( t
markets in the third quarter, reinforced by a vibrant local economy and strong6 U. a/ `& E* r& o2 T" t
confidence, resulting in modest increases in average house prices. The city9 u4 E( `4 y) l I( \& h' c
centre remained a bright spot in Ottawa, with homes in this area attracting
; o) X5 w9 o& v6 `# b, }/ a) rattention due to their convenient location and proximity to downtown
9 {7 m$ K; l6 L8 }; S1 t5 Iamenities.
9 [# _3 [3 x* R
3 N; a& E5 {* W8 S" g: k5 @ The housing market in Toronto sustained healthy activity levels7 K) p1 a/ ]* E
throughout the third quarter, as a strong economy helped to maintain demand7 i1 @" x/ g; t0 v @3 k/ K
across the city, causing average house prices to rise moderately. Toronto has
* V/ {& T) ]* C% T; R7 O( }, }9 zcontinued to experience modest growth in average house prices, and has been$ D. k' w1 q3 \9 y
driven primarily by purchasers who are buying homes as their principle
' h! M, m" F+ Y$ ]: T1 kresidence, rather than for investment.
: [" K6 r) B" u
! R1 i, P" ]# B6 ` The vibrant Winnipeg housing market continued to show its strength as/ O0 E( P$ W% h( w
house prices rose during the third quarter. The booming local economy resulted
* n. | {7 ?1 b. I- w3 o0 p; k4 _% R- jin a historically low unemployment rate, helping to bolster consumer
# n% Z9 Z5 _) Aconfidence and Winnipeg's ranking as the city with the lowest capitalization
4 K* A# E- R. i2 L8 vrate among the country's larger cities - helped to encourage buyers to enter
' R# B; q# K. i. I% v4 cthe market.( I& h; }" |- M/ y0 ?
" J1 s8 j% ~& B* J In Regina, the market experienced a slight seasonal slowdown through
2 Y7 e7 ]+ G' M0 J4 o3 Z bJuly, as there were fewer purchasers in the market due to summer vacations. In3 z, G; _: j( N+ b: o4 @
August, activity resumed to the busy pace previously seen in the spring
: i$ o8 I8 J$ n0 smonths, as the influx of purchasers made it more difficult to find a home due9 V7 }/ S: E( X, q u
to the shortage of available inventory." }1 w, e! ~- Q1 \1 U5 U' s" z
6 k/ ?; E+ n1 D# ~, n& I" R
Activity in Saskatoon remained brisk as the market maintained its
/ L2 [& D/ H U' ]) |2 x Tmomentum from the busy spring sales period. The economy in Saskatoon remains4 q4 } J/ S7 O! _
vibrant, as employment opportunities are abundant with many businesses
+ a6 b7 Y$ ?: P, C: ]1 p/ fstruggling to make hires and having to recruit outside the province.( v w, V- d7 M. R+ M
2 K6 @& o% v* l- M3 i* L6 ?
Calgary's housing market recorded blazing average house price increases' B1 P# A& |* V4 i7 d; ^( ]1 A
in the third quarter, in all surveyed categories. The burgeoning economy, low
: z; z9 }. l( M+ T+ n/ H* ^unemployment rates and low inventory levels remained the leading factors that
) `$ _" P s! j) w8 Kpressured Calgary's house prices upwards. However, regardless of the soaring
- m. t1 U! A+ wprices that characterized the market - even during the typically slower summer
7 T+ u. l4 A5 c* r% s+ o6 Iseason - it is expected that activity will become slightly more balanced, as
! Y3 X9 I" s. l8 J5 D+ Cbuyers are becoming more reluctant to participate in the frenetic activity.
- s o1 Z: i5 ]+ E9 E* Z
- _8 {7 g1 C* Y! d5 h! N Edmonton's booming local economy continued to thrive in the third quarter7 J0 J0 g0 d& g- \
as activity in the oil sands north of the city continued to flourish. Edmonton
' W( s( a4 ?, d7 Rremained the hub of activity for those coming to work in the oil industry,
; s0 N4 R# l! q; w2 jmaintaining tight inventory levels across the city, resulting in prices# {0 W7 L% ~) q* |+ s1 K
increasing at record levels. However, as inventory levels continued to improve7 e2 \$ }4 F# [# J+ y
in the third quarter the rate of price appreciation should moderate slightly6 C% C! Q, L" \# V- X$ E/ D4 P- a/ T
towards the end of 2006.
) Z5 n! r& t1 _$ i
+ Y8 T7 j, [" T4 [8 eWhile Vancouver has seen a slight reprieve from the severe shortage of' p& |" u( A- t
inventory that had previously characterized the market, supply is still unable
: u- O1 w( R7 G8 q, Z I2 a/ \to meet demand, driving house prices upwards. Vancouver has a very diverse
0 z2 @! i! ]- Kgroup of active buyers - from first-time home buyers to baby-boomers to
. a ?5 R8 y) k3 K: j, Z3 Aforeign investors - all of whom fuel the demand for houses, placing added
+ R$ f5 ?$ u( t* spressure on tight inventory levels.$ v6 T' t' r$ {+ W
3 \0 p: L! }4 U2 N7 p" n
Victoria's market is vibrant and supported by strong economic
) |$ r& J0 x# y0 i% Dfundamentals, fuelled by a booming tech sector and a migration of young people
4 K7 o- J6 V( S- w6 M7 p& ainto the city that has continued to support the area's house price increases;9 i& k' c0 f! i/ r! K4 H
while increased inventory levels have afforded buyers more time when searching
3 f4 c4 i( \0 K- V: n" mfor a home, helping to normalize the market's pace.6 n8 l! |" x7 H0 \
/ ?9 C# {1 U' R: i' D5 H8 V <<
. O5 D# }5 [6 X6 l2 m Survey of Canadian Average House Prices in the Third Quarter 2006
; @6 c- }' ]0 a3 n( O3 E" d4 T& ?' [, ~
-------------------------------------------------------------------------% d4 P) F* L F) d
Detached Bungalows Standard Two Storey
3 C+ E: y( Q: G- Y6 ^ -------------------------------------------------------------------------9 p1 y3 {1 [6 m2 B- M- k* ?1 m$ M
2006 Q3 2005 Q3 Bungalow 2006 Q3 2005 Q3; |6 M4 g$ H# q& [5 d% i
Market Average Average % Change Average Average
, {) h2 f. M7 N& o; W4 m' J+ \ -------------------------------------------------------------------------
4 }# D& ^, l H Halifax 186,333 173,333 7.5% 198,667 199,000
1 Z3 y; b+ d( e# U. J9 M -------------------------------------------------------------------------! j' _' z) k/ | l( z: T
Charlottetown 145,000 141,000 2.8% 175,000 170,000. n! s. D9 n. H4 M8 `
-------------------------------------------------------------------------' \+ U$ `8 D L$ ^6 e
Moncton 135,000 127,000 6.3% 129,000 123,000; U) k u1 u4 F2 @2 v0 X
-------------------------------------------------------------------------
8 G. p+ J& `5 G! A8 X2 Y Saint John 141,200 142,900 -1.2% - -
2 q0 T* b. z+ n _1 n2 B" m3 X% ? -------------------------------------------------------------------------' V7 P* ^8 a, u4 G7 ?
St. John's 143,667 142,667 0.7% 200,667 202,333( }- W/ w/ t. y% ]0 ^
-------------------------------------------------------------------------2 G* D' M% X, w+ \% S
Atlantic 150,240 145,380 3.3% 175,833 173,583
) J7 Y; ]# r$ v7 H: X- z, } X; o -------------------------------------------------------------------------
8 L6 ?: U/ |1 e, k+ h Montreal 213,691 203,500 5.0% 321,141 316,185
$ k4 c9 q% [3 @4 R- o -------------------------------------------------------------------------; K0 ?7 G; D" l6 D) K
Ottawa 290,083 278,417 4.2% 285,667 273,250
5 v( ]. j0 Y7 g! ^# X! o2 Z! q -------------------------------------------------------------------------) c% y5 q4 a; S) h2 t' ]4 U
Toronto 373,368 355,882 4.9% 481,523 474,766& W! A/ t. h! w' u% M& X
-------------------------------------------------------------------------
8 u8 l: H) v2 ?$ b1 C; U) V, c Winnipeg 181,579 159,860 13.6% 202,337 180,707
, D5 l- K7 w6 k' p -------------------------------------------------------------------------3 }! ` ^/ w3 t& i; v6 L
Saskatchewan 170,667 156,083 9.3% 182,600 166,500: H& f, w. h4 Z" ^/ k( j5 ^
-------------------------------------------------------------------------
' {8 ~& z/ s9 a1 w- C7 j' ?! E: Y Calgary 395,067 252,411 56.5% 405,778 264,389
8 q& o" F# k: d. T -------------------------------------------------------------------------. [; g7 P+ z1 V1 @
Edmonton 286,857 194,857 47.2% 316,429 206,714
3 S0 C, X3 N ^# W: D -------------------------------------------------------------------------
" U0 P9 @. ?; d% T$ n" y6 y Vancouver 704,250 601,000 17.2% 794,000 697,500
8 J5 D: ^, ~% `) H+ z B -------------------------------------------------------------------------
; X7 `3 b* z$ b5 h" |9 h. P Victoria 375,000 348,000 7.8% 403,000 391,000
" n( ?! g, v! w) ]3 r$ e3 i `- C -------------------------------------------------------------------------
. |1 }4 C" \4 t2 Z7 n4 D8 C National 300,365 258,202 16.3% 365,380 322,860; H( g' P; g+ t% r5 P# }0 Q
-------------------------------------------------------------------------
/ p3 b n0 E9 }1 e
. b1 v$ i- Q8 B+ P -------------------------------------------------------------
6 y" c. t- c6 r e Standard Condominium
. |9 }* `" L. }$ O& Y9 w: W -------------------------------------------------------------) Q9 B# [' @) |5 `% W# u+ N3 x
2-Storey 2006 Q3 2005 Q3 Condo
3 P. r! Y3 D; O3 t1 d! Z Market % Change Average Average % Change9 O: p& Y% U4 N. J( O
-------------------------------------------------------------
. `* L& f+ X; r" M d& R, F& v Halifax -0.2% 142,000 103,000 37.9%3 ]8 v' ?2 S2 ~1 F% X' j
-------------------------------------------------------------
" t! q1 T! v6 C) S9 W7 r4 E Charlottetown 2.9% 98,000 98,000 0.0%
7 P4 {: w( J3 b& }, I( ^ -------------------------------------------------------------4 g- y b" M0 t! A0 @. W S
Moncton 4.9% - - N/A
, e4 t( F5 N; m' J# M+ D, [( ^ -------------------------------------------------------------
, l4 H4 }3 w2 _: W: |0 S' R- j Saint John N/A - - N/A8 E; H0 J7 c: G1 Y4 d% p; E
-------------------------------------------------------------7 b$ _- i8 W3 r ~% h
St. John's -0.8% 146,333 145,667 0.5%
o$ W6 `* r, _4 V K -------------------------------------------------------------+ y3 A, t8 w9 Z( m# ?( j0 N
Atlantic 1.3% 128,778 115,556 11.4%
f/ k* X4 g2 _1 d2 b. N -------------------------------------------------------------2 t% M% H2 B: h" [' N# O) x/ S
Montreal 1.6% 193,190 188,016 2.8%
2 F: o2 ]1 f L0 [2 g" U -------------------------------------------------------------
9 @$ v! j! ~2 j. @ Ottawa 4.5% 181,083 172,250 5.1%
8 B* J) ?- v/ C/ v4 A -------------------------------------------------------------
/ {/ n7 Q2 e7 H( v! a3 ^2 J/ g Toronto 1.4% 252,088 242,918 3.8%, I* L8 s9 Q* F" S7 S
-------------------------------------------------------------
' p" V$ P c2 `# ~$ Q" K9 q+ m Winnipeg 12.0% 105,648 96,008 10.0%+ ?# v/ d8 y' V0 m- `$ `
-------------------------------------------------------------
" j, U7 ]* Z& |* g! n Saskatchewan 9.7% 106,250 101,000 5.2%7 V; q2 w1 S- K' s
-------------------------------------------------------------
/ E) J' U- `% Q+ W! y) @7 `0 ~" G( e Calgary 53.5% 245,844 153,867 59.8%) D; k8 S e! r; O# `- O
-------------------------------------------------------------- C% t2 |% S& g
Edmonton 53.1% 200,433 131,500 52.4%
' x) h ~5 F. f. t -------------------------------------------------------------
# U0 z8 _1 g& u* @: v6 [( e Vancouver 13.8% 366,250 323,250 13.3% D8 i* E) x) n6 j. q
-------------------------------------------------------------2 ?0 f. ~# J/ Y- z
Victoria 3.1% 229,000 220,000 4.1%
7 [2 \% b: P& ~& E, @ -------------------------------------------------------------
3 a7 a; @* K; M' L# h National 13.2% 211,562 185,296 14.2%
M! x- r+ D; G( U# f; j+ L -------------------------------------------------------------- T e8 }" V0 n x) M
>>, o) _! {0 F& C& k' @( L5 v
3 c, F3 e9 u1 m; ]. Z A
Average house prices are based on an average of all sub-markets examined
; N9 _, p3 P6 g% ein the area, except for the smaller markets of Charlottetown, Moncton, Saint% g# t. j9 K9 R
John and Victoria.- t5 d- B1 ^5 k' V( q/ \
) F1 Y9 y$ `8 B" d/ ^+ k n
The Royal LePage Survey of Canadian House Prices is the largest, most$ a) b, V) _$ v
comprehensive study of its kind in Canada, with information on seven types of! V& R, b" k' U' @3 X# \* W9 J
housing in over 250 neighbourhoods from coast to coast. This release
) Z+ ~7 @9 `/ w: oreferences an abbreviated version of the survey, which highlights house price/ A" J7 `& N! ^% w
trends for the three most common types of housing in Canada in 80 communities
5 @* w8 x/ `$ {) I6 @) Zacross the country. A complete database of past and present surveys is
8 S" b' e% U! X3 Bavailable on the Royal LePage Web site at www.royallepage.ca, and current
- [" J& `3 ]/ Afigures will be updated following the end of the third quarter. A printable
3 b& `* ^$ M q% @* zversion of the third quarter 2006 survey will be available online on
- h+ k3 p/ J$ F# R! A& INovember 15, 2006.
) P4 Z6 d3 c8 p& E Housing values in the Royal LePage Survey are Royal LePage opinions of! H9 ~" ?$ E: n% A6 Q
fair market value in each location, based on local data and market knowledge
. B( M; P$ ]9 t7 E8 l0 uprovided by Royal LePage residential real estate experts. Historical data is
3 v( o+ j1 r; b! uavailable for some areas back to the early 1970s. |
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