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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
6 w5 B2 l5 ~3 [2 o
3 X. n" y! Z1 i! @# K# n, C- Country's market poised to show growth throughout 2006 -
+ o+ ]% `% h1 R" E$ o
# J) C7 N/ I$ F    TORONTO, Sept. 28 /CNW/ - For most of Canada, the housing market0 z4 H3 X+ {% b
exhibited moderate price increases and stable unit sales during the third5 C, t: g, P$ A3 a; o
quarter. Wide regional variances continued to be the dominant characteristic: u6 C: s- w$ p) w0 u6 t! W
in the market, exemplified by frenzied levels of activity and double digit! x; o5 V' O7 W) o" m1 ^
price gains observed in the energy and commodity rich Western provinces, and
) I8 x0 u8 f9 P5 {- i$ }more reasonable sales volumes and moderate price appreciation in Ontario,; G' x: j5 X) t
Quebec and Atlantic Canada, according to a report released today by Royal
; B3 H8 Z1 ?/ {, vLePage Real Estate Services.
( V/ s6 E/ i" m" c, _) \6 P6 W
) [- k  H# V, Z* M) P1 ?- E& _    Nationally, market trends established through the first three quarters- @2 [4 P/ e4 B: i5 n
are forecast to continue for the remainder of the year. Robust economic
" \$ c0 m. t' e+ |4 xconditions, low unemployment rates, modestly growing salaries and wages, and7 M8 f) ]! [6 L  I% J
sound consumer confidence contributed to the overall strength of the
' |& G) s( u- E( C. n9 qresidential real estate sector.1 _% b9 F; y( D9 P0 f& E

% {0 e% A% z% S) l$ {* I! v    Of the housing types surveyed, the highest average price appreciation+ h1 ^- J7 R- H( ^1 I) X6 J
occurred in detached bungalows, which rose to $300,365 (+16.3%)
8 ?- E/ S: ]4 A) ayear-over-year, followed by standard condominiums, which rose to $211,562
  R- ?9 p& ^* p! q(+14.2%), and standard two-storey properties, which increased to $365,380
. c4 i) `) _+ A+ c* r(+13.2%).' p- J( o- D' ^/ `7 @

4 A- w: b. K/ E) u    "Canada's sturdy housing market continued to demonstrate steady growth
( c% K0 {& X( T9 F% Y& O  j* @; `during the third quarter. For all but the west, we have moved on from the
. W8 T6 H* @9 L9 d+ Yfrenzied expansion that characterized the first half of this decade, and are. |0 D+ c0 O3 k6 d2 q( S
poised to show continued growth at a more moderate pace," said Phil Soper,, t" f8 ^2 x' k# d
president and chief executive officer, Royal LePage Real Estate Services." [; E) n8 h8 O% ~1 w  v. O5 h
"Gone is the sellers' market that we have lived with for some years. We
- B, L9 L" u1 I, w6 N4 L$ v' O6 Gwelcome the more reliable conditions that are characteristic of a healthy: l5 _* M+ q7 `4 \  Z# [8 b% U. H
balanced market."4 {0 P% S( H3 n* t; B

' @- S% t, y$ W* c$ }+ N& @    Despite the double-digit rise in average national house prices,* u7 W6 ?/ P$ A4 O; v3 R) ]. l
considerable regional variances were exhibited again this quarter. The shift
+ n* J* B1 j9 Yto balanced market conditions, which began in late 2005, has continued
( p9 J. d3 y/ zthroughout most of the Central and Eastern regions of the country. In the core, [3 f. P0 A! y+ S
energy producing western provinces, the combination of very high in-migration,% W7 ~4 F; k+ q
manageable affordability, and a shortage of inventory has driven record: r5 L8 `- D. b; N
breaking price appreciations.
$ F3 x- s. `) ^& c5 _; R! {% F
! B6 K. A% L; ~$ b* R! \( N    Echoing the second quarter and supported by Alberta's rapidly expanding
3 R* E: s! E2 i# [& d5 ~economy, Calgary and Edmonton led the charge of Canadian cities with the$ H. P; e9 X3 R- {
largest house price appreciation in all housing types surveyed.
2 u( ]; h* H. o7 x
) L2 q! D- l1 t: h% [* j1 D" b2 }, u    In Ottawa and Toronto, growth remained steady, supported by solid2 U/ J- k% V" H, v; c7 n/ g4 j1 s6 D
economic fundamentals, an increase in available inventory and strong consumer# k6 U. J- a* T7 M4 L! m
confidence. While the pace of price appreciation in Ontario leveled off' n0 j2 R& ?" b' v$ P1 J
slightly, the province's real estate market remains poised for modest growth.& T2 A' g# ]7 |# {/ t( \
In Atlantic Canada, new housing and condominium construction offered buyers
! a8 N& V* Q2 `greater selection at more competitive prices, resulting in a slower rate of) I# k& r3 L+ U2 c6 J
price appreciation when compared with 2005.
1 O2 g& y0 c/ [7 G7 G7 [  s' V5 l9 g& r  _, e
    While the pace of growth in Canada has slowed, the domestic housing. y% `8 E! k3 x3 w) m) S
market is expected to outperform the American market. The economic and9 g0 T( }0 y# U' n
financial fundamentals driving the residential real estate sector in Canada: j% D- }( T) \6 Y- b4 X
are markedly different than those found in the United States.# ^9 Q2 Q, v3 z+ h+ M! P

7 M( ?) m: u! a8 X; p; s  ]; F    Added Soper: "Canada's housing market is likely to outperform the' L. ~4 p. Q8 c% j
American market through 2007. A number of factors are working in Canada's
% P6 X/ j6 M9 T, x( E9 Hfavour, including healthy personal and governmental debt levels, the/ y' M5 K7 [. _# H: R, t& @. _4 J
relatively modest rise in interest rates in our country, and general
' _3 l. E$ q8 w$ ]4 t' ~, _. L0 Z( Haffordability in our major cities. In addition, Americans are now seeing the
( Q& B9 {9 M8 Qdownside of a tax system that encourages maximum homeowner leverage, and/ m! ^( ?2 X0 {
aggressive financial products such as zero- and negative-amortization) t1 c  z- g& }. j: E: P: I; X: X
mortgages that work only in a high price growth environment."1 ~% @" \. r3 k1 Z+ y+ c9 s% ?

$ u4 P) c! m/ E    <<
" n0 X. v, M' @2 Q( h$ o                             REGIONAL SUMMARIES
5 _% K0 x5 B9 V" l6 S8 R8 H    >>8 K, S% s' s! _$ n4 M1 r

" u3 [  F1 n$ _0 k) a    Balanced conditions continued to characterize the housing market in7 K5 \2 y" k4 a5 A( ^$ z
Halifax, as significantly higher inventory levels helped to moderate the rate: x6 P* E( T4 m# s  R7 H
of price appreciation. Buyers were increasingly choosy, taking more time9 m' D% m6 H, }
looking for newer, low-maintenance properties that were not in need of
6 [, j) K; p0 drenovations.
" U5 X8 U8 [) ~  r: x' G- B6 Y" q% |& @$ O
    The housing market in Moncton remained healthy and strong as a slight7 p, A) g8 h; x6 ~+ l; Q. u
increase in inventory helped to moderate the rate of price appreciation
7 v5 U( X! N" Y6 c1 K5 ?5 wcompared to the same period in 2005. Activity was brisk throughout August and
* l0 N( v; x: k  L$ k4 K" @September and is expected to remain this way through the fourth quarter.
7 T$ t  B; p& ~5 x: b: A; j7 F
3 i0 S. `3 p" A    The housing market in Saint John underwent its traditional summer
0 b  x$ s0 Q3 s& i: N* |slowdown in the third quarter, with activity picking up towards the end of the
$ z$ M! e0 @# z7 R# C( @: l1 Lquarter. The local economy continued to thrive, as construction on a new
5 k# Z- m8 R* l! V8 F8 Q600,000 square-foot shopping area has begun, bringing several new box stores
& T) G6 S) a( L7 E$ ito the area. Buyers have begun seeking less expensive fixtures for their homes# b0 Z8 F  {4 [* w
and are instead opting for more affordable housing options.
& S( J' C4 w0 }2 X1 `4 J0 W
4 C$ G' u& g  r    In Charlottetown, the housing market started to move towards balanced2 K7 g- ~& p4 q# `& K1 P
conditions, as some sellers had to begin to lower the asking prices on their
! k# D# r  w) Xhomes to make them more competitive. Activity from out-of-town and US buyers
. H: h6 z- y! R( C+ K$ ywas down slightly compared to 2005, likely attributable to the strong Canadian
- ~; u, y; R5 ]8 K+ s3 Z0 rdollar. Inventory levels began to creep up in the third quarter, providing
9 h) e  J1 ?0 E  Kbuyers with more options when looking for a home.
' m5 X: t" Q1 o* ]% X  `6 n3 c
; N* K) ]/ I5 N6 g# a3 ^    Activity in St. John's slowed slightly in the third quarter, particularly- V( D0 v% r# F1 P" Z- R3 [8 U
among higher-priced properties, where there was a slight over-supply of homes
' a" a: i0 X% y& i6 _priced over $200,000. Listing periods have increased when compared with 2005,0 ^0 j8 r( O& M. S7 A' U
as some of the pent-up demand that had characterized the market over the last
) i8 A' U. o. q% A+ u: v4 ifew years has been satisfied, resulting in more normal, balanced conditions./ G5 U- R. J0 D# N& m+ s
( T7 t2 {4 Q+ I7 s  N
    Montreal's housing market recorded modest increases in average house: v( g! ^8 _6 b7 i6 ~' [, Z
prices, due to a slight seasonal slowdown in the third quarter as inventory+ P8 j; ~/ L4 F. v: \
levels rose. Part of this can be attributed to the fact that many renting
! a  q) C4 K2 t) qfirst-time buyers were motivated to close on the purchase of a home by July 1," M; a% H/ I9 R8 C8 R; E& S& u
when rental leases expire in Quebec. Once this date has passed some of the
! e2 l0 A, \+ P2 U4 L6 ipressure is taken off the market, allowing buyers to visit more homes before
- P7 T7 {- p3 s7 G/ d' nmaking a purchase.5 u8 Y! x! b8 ]" P  T& s0 |
$ D/ z( _( Y4 U
    Ottawa held its position as one of the country's most stable housing8 T. ]8 {- u' t, d, @3 a/ q( @3 |
markets in the third quarter, reinforced by a vibrant local economy and strong) \& n) V  z. n- b  L
confidence, resulting in modest increases in average house prices. The city
! ^% r/ h  p- x0 M, r. x) Ncentre remained a bright spot in Ottawa, with homes in this area attracting
1 x3 h( e  h' {/ Yattention due to their convenient location and proximity to downtown( Y! Y5 V! R; i2 t! F# H9 Q5 d
amenities.
- ~6 o+ m- n4 ]; i1 V6 q# L* y! M2 X" V0 ]3 p5 E
    The housing market in Toronto sustained healthy activity levels  D% {' N! Y# W! v1 c( e6 x9 t
throughout the third quarter, as a strong economy helped to maintain demand/ f# s7 @* y) q7 t) q! `
across the city, causing average house prices to rise moderately. Toronto has4 o0 q. o6 ?; {; C3 N+ b
continued to experience modest growth in average house prices, and has been
! h: X( B2 G4 `1 N; x; bdriven primarily by purchasers who are buying homes as their principle
5 l+ l7 U# Y0 ^residence, rather than for investment.7 `8 K6 p4 E! e, v2 D6 l; X3 j8 z

" @  I. B* T. W    The vibrant Winnipeg housing market continued to show its strength as, U/ m8 O. s" `" F" q# Y! _2 e
house prices rose during the third quarter. The booming local economy resulted
# C$ l9 [5 W/ Z% A' k9 N0 I# Fin a historically low unemployment rate, helping to bolster consumer
* K" ?- I+ O$ Y# K, [) @% J2 xconfidence and Winnipeg's ranking as the city with the lowest capitalization( s1 T) h3 S; n, E  c. _* N
rate among the country's larger cities - helped to encourage buyers to enter
$ ]9 @' j; y0 Lthe market.. P) S" K# X. D: x  a' M: ^
; Y' ?: A7 I& f. b! l% }
    In Regina, the market experienced a slight seasonal slowdown through
2 Y4 K' @7 M; o" I8 hJuly, as there were fewer purchasers in the market due to summer vacations. In: x: u$ t* n# c# {! ~& m4 ~( [
August, activity resumed to the busy pace previously seen in the spring
% V* O: J6 }& o/ xmonths, as the influx of purchasers made it more difficult to find a home due
( K3 F/ m1 E; ?/ N2 v& Z( v" ^to the shortage of available inventory.7 t2 X3 K# L9 x: u' K8 W' V' T( z

6 y; m/ |5 o& r4 h. J( T; Q8 ^% @    Activity in Saskatoon remained brisk as the market maintained its
: u0 ^5 z8 l# H# D& ]momentum from the busy spring sales period. The economy in Saskatoon remains
0 x6 e( @9 a' [; m: u4 _# avibrant, as employment opportunities are abundant with many businesses
* `+ L! |( G" G7 I' Fstruggling to make hires and having to recruit outside the province.
0 A0 R3 Z! j7 B7 f% U" G
* k1 ~+ z8 z( Q5 A7 S    Calgary's housing market recorded blazing average house price increases, w& i3 _  m4 c1 z& C7 s. \- P- G) p
in the third quarter, in all surveyed categories. The burgeoning economy, low9 h) V7 @* f8 s, I
unemployment rates and low inventory levels remained the leading factors that
) p7 k% t0 Q3 \, f. ^$ J# mpressured Calgary's house prices upwards. However, regardless of the soaring
$ ~8 V6 v  g$ b! p% E2 P2 O8 p+ yprices that characterized the market - even during the typically slower summer
6 m6 F0 z; I9 d8 m- dseason - it is expected that activity will become slightly more balanced, as5 \' b- I3 |1 A" ~
buyers are becoming more reluctant to participate in the frenetic activity.

# \2 W7 W1 x8 |/ b$ G$ k
+ d, l& w9 N/ u. r2 @( K/ T    Edmonton's booming local economy continued to thrive in the third quarter
+ X& w5 w; d4 A# S% ]9 {as activity in the oil sands north of the city continued to flourish. Edmonton$ q* j, @# i- H* h/ C1 D0 ~
remained the hub of activity for those coming to work in the oil industry,: Q$ k# F9 {# Z5 h! W, N4 e0 f  V
maintaining tight inventory levels across the city, resulting in prices7 T' X) m) u/ k1 x" ~' y
increasing at record levels. However, as inventory levels continued to improve. W1 u2 V' t1 u1 c1 \
in the third quarter the rate of price appreciation should moderate slightly/ s2 q1 A9 M" n2 n, E. ~
towards the end of 2006.
    . t9 Q* H" ]/ j# A

4 a) L, }) m1 d  O2 x% c2 zWhile Vancouver has seen a slight reprieve from the severe shortage of
! ]5 T: j5 l4 X$ `) h% o* d0 j9 Xinventory that had previously characterized the market, supply is still unable' I  \' g  Z5 E& Y3 W& c- c
to meet demand, driving house prices upwards. Vancouver has a very diverse
+ P3 L+ N7 g# fgroup of active buyers - from first-time home buyers to baby-boomers to
' W8 k4 p7 T7 e+ Pforeign investors - all of whom fuel the demand for houses, placing added
4 o& W" V8 @/ N% M# d" Kpressure on tight inventory levels.
$ ~3 Z% N9 h6 y2 t' j# \2 N' r6 c3 L# g5 H& G) f
    Victoria's market is vibrant and supported by strong economic, M' R2 F! Z; a' F/ N7 w! S. g& |
fundamentals, fuelled by a booming tech sector and a migration of young people- G1 l; s$ f: ]; z' B6 C) O
into the city that has continued to support the area's house price increases;  p0 B1 Y; R) Z! o
while increased inventory levels have afforded buyers more time when searching5 d4 Y* B  H. N% F
for a home, helping to normalize the market's pace.
* ]" k% x# a: h1 n, O7 N5 }, D! o5 [5 E% e
    <<
% r# a# S& c5 I) ~7 {8 F      Survey of Canadian Average House Prices in the Third Quarter 2006
( p  F  L2 ^; m5 P" F- J6 j/ T) f6 A+ `7 V5 u" W  T* [' x
    -------------------------------------------------------------------------
) C+ ~2 A+ s. k: W2 D                 Detached Bungalows                Standard Two Storey# }, S1 I1 @8 U* U/ W
    -------------------------------------------------------------------------/ \6 p# B# w5 U/ j! _
                     2006 Q3     2005 Q3    Bungalow     2006 Q3     2005 Q3
" r. a$ R, ^+ G# I    Market           Average     Average    % Change     Average     Average
  E* o8 `+ j" k. Y$ L/ q    -------------------------------------------------------------------------
2 Y8 K9 z/ _) @. ]" `1 w5 ?3 v    Halifax          186,333     173,333        7.5%     198,667     199,000
6 |2 V' ~/ d* _$ L: ~8 H+ v( f    -------------------------------------------------------------------------) x- R. a3 W2 Q! p+ z7 t
    Charlottetown    145,000     141,000        2.8%     175,000     170,000
) W- t6 L; e) _& b  ]. y* T    -------------------------------------------------------------------------! \3 I- K1 N% ?8 X+ J, k
    Moncton          135,000     127,000        6.3%     129,000     123,000
% }6 P+ _# N+ I1 D7 T7 K  @    -------------------------------------------------------------------------
8 y: f0 M* Y& q/ e    Saint John       141,200     142,900       -1.2%           -           -
! `# v* X6 s2 q    -------------------------------------------------------------------------6 |8 G  T5 V# ]# F$ [' H' Z
    St. John's       143,667     142,667        0.7%     200,667     202,333! O+ k. S; G; r. ]$ d! \
    -------------------------------------------------------------------------6 B- y9 Q3 F4 }) F
    Atlantic         150,240     145,380        3.3%     175,833     173,583; U$ x# O0 g" D: E# e. T" }. \
    -------------------------------------------------------------------------( Z5 X$ b# M2 {1 e) ]2 A
    Montreal         213,691     203,500        5.0%     321,141     316,185
8 i4 E- Z; Z; U    -------------------------------------------------------------------------
( U% A. J, d8 N8 D) [* J    Ottawa           290,083     278,417        4.2%     285,667     273,250
: t! x3 {# b' s: H5 t& Y- C    -------------------------------------------------------------------------
/ S3 o$ x9 N1 K+ Y1 u    Toronto          373,368     355,882        4.9%     481,523     474,766; g7 l7 z  J4 Z4 \$ r0 u% n) m
    -------------------------------------------------------------------------
7 @2 L0 O  P0 `5 d' M' a    Winnipeg         181,579     159,860       13.6%     202,337     180,707
( r) [* q4 P* q    -------------------------------------------------------------------------! z: G. o% D% ]& m2 u4 r
    Saskatchewan     170,667     156,083        9.3%     182,600     166,500
$ `/ v" D6 r' \    -------------------------------------------------------------------------- N7 @- y% i, {& v/ m
    Calgary          395,067     252,411       56.5%     405,778     264,389
1 G! y, \8 ]) G# K    -------------------------------------------------------------------------# X7 V5 [6 x8 G, Z
    Edmonton         286,857     194,857       47.2%     316,429     206,714
. ]7 x0 i4 K7 }    -------------------------------------------------------------------------4 T2 F2 y- \- X* o7 r7 D7 k: j  l
    Vancouver        704,250     601,000       17.2%     794,000     697,500
6 Y4 M2 c! w  p' `    -------------------------------------------------------------------------
: T6 P% V! u' ?, b/ Z! p! T, [    Victoria         375,000     348,000        7.8%     403,000     391,000
& r& [: y0 f! Q( N  M$ V  m    -------------------------------------------------------------------------
9 ?) S/ _, q- y* W( A& X) l    National         300,365     258,202       16.3%     365,380     322,860
  ^7 s% F! M, P9 f# M    -------------------------------------------------------------------------. V& b* T0 U5 t% c: r4 v  x
# j) }+ s; Z  i8 `" S% |% S
    -------------------------------------------------------------. m+ s% e- M) U( A
                               Standard Condominium8 w$ Z2 Q, _# W% X& t8 p7 x
    -------------------------------------------------------------
7 J. I7 k8 O/ P8 W: `5 z  G                    2-Storey     2006 Q3     2005 Q3       Condo' L2 v7 _8 n" w7 a( G/ H
    Market          % Change     Average     Average    % Change
" X0 b6 U2 h+ c% y* @( {/ ^& g    -------------------------------------------------------------4 ]0 o  V3 s& Y! x) \
    Halifax            -0.2%     142,000     103,000       37.9%' G6 u9 f8 k) R3 Y  f
    -------------------------------------------------------------0 Y% O+ i- @2 p9 A2 A2 [
    Charlottetown       2.9%      98,000      98,000        0.0%
5 R8 b& p  ~1 a) R& B" }    -------------------------------------------------------------+ Z5 H1 ]7 \! ^6 [9 f
    Moncton             4.9%           -           -         N/A
1 T; ~0 z+ ~. p& L( w, }/ [1 w! j    -------------------------------------------------------------5 m. r! i/ O$ c  j& B! o0 T
    Saint John           N/A           -           -         N/A
4 f( V& i. U% a1 `. X    -------------------------------------------------------------; k1 @. E! @2 p
    St. John's         -0.8%     146,333     145,667        0.5%2 D) ]7 x- @9 o! l
    -------------------------------------------------------------
% A+ g' I$ J  F$ @7 Q# r    Atlantic            1.3%     128,778     115,556       11.4%
) B. k, O# a' q2 r) R$ Y+ a    -------------------------------------------------------------
& ?5 p3 Y9 g% Z4 d& Z$ |" ?6 B    Montreal            1.6%     193,190     188,016        2.8%2 `6 \) ]( v+ L$ \: r7 Y1 ]
    -------------------------------------------------------------
, h3 E. Q, D4 w$ k/ l    Ottawa              4.5%     181,083     172,250        5.1%: `; r7 A0 r/ ~$ @4 W6 v
    -------------------------------------------------------------
, }) c+ }7 @! m" z6 p/ A    Toronto             1.4%     252,088     242,918        3.8%
  A3 c( v. m* \$ D$ B    -------------------------------------------------------------, i9 a/ |3 o) X) L. N' M
    Winnipeg           12.0%     105,648      96,008       10.0%
. X& Q  t) z, U- q& R( h5 I/ s! V    -------------------------------------------------------------
6 V0 e) Q! f, K/ \  u    Saskatchewan        9.7%     106,250     101,000        5.2%
; h- {, W/ ~  {* k0 v# N4 |    -------------------------------------------------------------
* {4 D- J5 p5 H3 @6 c    Calgary            53.5%     245,844     153,867       59.8%% B2 p- ^: W9 [$ o, l, d: \5 h
    -------------------------------------------------------------
, z1 c7 L( r* y; s5 Q+ V1 z    Edmonton           53.1%     200,433     131,500       52.4%1 g9 ]" k' U0 I( c! R
    -------------------------------------------------------------
  i' n( v( v: A% a- t/ |* J7 v% o    Vancouver          13.8%     366,250     323,250       13.3%
! y9 r6 Q+ L4 s2 b9 W    -------------------------------------------------------------
7 s% q  y( h5 ]" ], j" b    Victoria            3.1%     229,000     220,000        4.1%
( w( ]- F- m6 T4 Q' ?    -------------------------------------------------------------% x: L( i3 n5 H+ m8 a4 x8 T& L
    National           13.2%     211,562     185,296       14.2%
. Q. e# ]; W1 F4 \, s    -------------------------------------------------------------
) Y) A5 o7 z/ A    >>
1 F- j. Q* M6 _9 y* u* ]; o
6 }- T6 h+ t0 ~& W! W2 ~0 |0 J    Average house prices are based on an average of all sub-markets examined
& j; U, B  C* lin the area, except for the smaller markets of Charlottetown, Moncton, Saint
" y. P$ |2 k, ^' qJohn and Victoria.
5 H' y$ k& w1 M4 m
' H: ~, s$ |/ M( x7 d    The Royal LePage Survey of Canadian House Prices is the largest, most
% X0 }9 a7 c6 z- D$ ucomprehensive study of its kind in Canada, with information on seven types of
1 R0 s5 D) s9 l9 E- Chousing in over 250 neighbourhoods from coast to coast. This release
$ V8 |  S+ |, {# R0 r: L: ]references an abbreviated version of the survey, which highlights house price* u6 @) d+ E& J3 N
trends for the three most common types of housing in Canada in 80 communities
1 ^9 O6 `; C4 c- b' l9 C9 Xacross the country. A complete database of past and present surveys is
0 i3 o8 D2 ~# }/ f( [1 \available on the Royal LePage Web site at www.royallepage.ca, and current
& b1 B" `1 F1 s& ffigures will be updated following the end of the third quarter. A printable
6 h; Y2 h* T; Q2 Qversion of the third quarter 2006 survey will be available online on
3 w- H- e0 @/ h0 A) YNovember 15, 2006.: U# C. q8 v9 `: u9 G/ b
    Housing values in the Royal LePage Survey are Royal LePage opinions of: j8 o8 f& q! M' m9 n$ o: \7 u, e
fair market value in each location, based on local data and market knowledge
9 t" j' j; q7 Dprovided by Royal LePage residential real estate experts. Historical data is3 C9 }. s8 d+ N  G
available for some areas back to the early 1970s.
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