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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 f7 _7 N! o$ F. F6 l

* |6 R6 C% \; p- Country's market poised to show growth throughout 2006 -2 v2 v4 F, F! L
3 }8 K1 S6 k/ c4 e; U: Q
    TORONTO, Sept. 28 /CNW/ - For most of Canada, the housing market9 o0 k( s5 l  ]$ L. H
exhibited moderate price increases and stable unit sales during the third
0 f/ R% A" n1 o8 V; gquarter. Wide regional variances continued to be the dominant characteristic
# t" @0 }* k$ W) }0 M1 V# {: J' Lin the market, exemplified by frenzied levels of activity and double digit6 A/ _* y  J( }9 x. P
price gains observed in the energy and commodity rich Western provinces, and) n& ]6 r) K1 {* C+ s
more reasonable sales volumes and moderate price appreciation in Ontario,
- _5 s/ S: L5 \8 w, X7 \" ]! v. o! sQuebec and Atlantic Canada, according to a report released today by Royal' Y: J  ~! ?$ q$ ?0 L
LePage Real Estate Services.
$ U: A: B% i% b- S% s1 \% C& w2 l1 O9 `; ^+ L7 u5 f  c) Y
    Nationally, market trends established through the first three quarters, t- Z" [/ i! s- C, E/ k" a* E6 ]
are forecast to continue for the remainder of the year. Robust economic2 g4 x0 ^- U& e. g- i) J% M4 h) e
conditions, low unemployment rates, modestly growing salaries and wages, and
. @! e7 u4 T$ [" j" o$ isound consumer confidence contributed to the overall strength of the
5 X& Q# B, U( p( H  Jresidential real estate sector.( p4 B/ }* c% Q" n+ c
+ O8 t' w  [/ e% F7 w$ e3 n! l5 E
    Of the housing types surveyed, the highest average price appreciation- y; Y" j" a0 O0 R6 f9 f( _
occurred in detached bungalows, which rose to $300,365 (+16.3%)
* z/ s" u' t1 }# Eyear-over-year, followed by standard condominiums, which rose to $211,5623 y- W) L# m" ^" M' A
(+14.2%), and standard two-storey properties, which increased to $365,380
  d, y: F7 D  c9 a) [3 x(+13.2%).; ]- R. t- o4 a/ j! A
7 J7 V9 y9 i" g6 S- Y$ f' n' P) }
    "Canada's sturdy housing market continued to demonstrate steady growth/ l) z! y% m# t3 X
during the third quarter. For all but the west, we have moved on from the
& ?, Q* u$ O$ r2 |; ~" \frenzied expansion that characterized the first half of this decade, and are
8 n2 H+ W5 n( X: a6 t7 _! M4 }poised to show continued growth at a more moderate pace," said Phil Soper,
& g' X# u2 C& G7 q7 l9 V) w7 |president and chief executive officer, Royal LePage Real Estate Services.7 @6 b: c) W9 i9 u! W- c9 l9 G
"Gone is the sellers' market that we have lived with for some years. We) D. P3 I2 H. N1 h# ], }* T9 \4 e- d
welcome the more reliable conditions that are characteristic of a healthy
4 _9 x5 _  c$ xbalanced market."$ n2 ~9 c0 g  ^% S5 `7 c
( D* e3 z& I) b4 s; N7 B5 P: A, c
    Despite the double-digit rise in average national house prices,) y$ D! M! [9 N0 D
considerable regional variances were exhibited again this quarter. The shift. k: V3 J" z0 f+ G
to balanced market conditions, which began in late 2005, has continued4 }4 D; Z2 \! ]9 E
throughout most of the Central and Eastern regions of the country. In the core! L9 T+ Z( f9 l! ]1 X/ M) n
energy producing western provinces, the combination of very high in-migration,
2 p( O$ B) G3 omanageable affordability, and a shortage of inventory has driven record
3 D& x) V& U! H1 M8 {breaking price appreciations.; ]2 @; r- L, i

( B" N0 s7 T: K$ G2 s4 J" n5 v    Echoing the second quarter and supported by Alberta's rapidly expanding
1 c) I5 z/ G8 G0 p6 e/ l) F  ^economy, Calgary and Edmonton led the charge of Canadian cities with the
  C* |& B! N0 M3 U+ B3 slargest house price appreciation in all housing types surveyed.6 Z$ [7 R: G- h) k6 J# Z0 n
2 M0 `8 l1 e/ _2 R
    In Ottawa and Toronto, growth remained steady, supported by solid5 q7 i6 ]0 B; P9 d- s
economic fundamentals, an increase in available inventory and strong consumer
/ I2 P$ m5 H& Zconfidence. While the pace of price appreciation in Ontario leveled off
- u) H1 a6 i, }* m- Rslightly, the province's real estate market remains poised for modest growth.
$ {+ ^9 l9 @4 |& k. K8 W! k' t3 |In Atlantic Canada, new housing and condominium construction offered buyers4 {! q* S& Y+ z$ V7 F
greater selection at more competitive prices, resulting in a slower rate of
# ?+ Z; M) e0 l6 Y4 k: `2 g1 F" d. xprice appreciation when compared with 2005.) F. i5 v7 ?  ^2 n5 Y& W/ E$ `

3 u/ J! @4 X; L) J2 G    While the pace of growth in Canada has slowed, the domestic housing
; {  }+ \# V" ~9 P9 F# }! imarket is expected to outperform the American market. The economic and
( K$ Q/ s3 a, @: wfinancial fundamentals driving the residential real estate sector in Canada7 [: q, C. l! R% R. s. Z
are markedly different than those found in the United States.
( J: d0 l, Z% j) }% ?; E2 ?+ _/ N5 i# {. r9 \9 G. h
    Added Soper: "Canada's housing market is likely to outperform the
9 @6 d6 B; D( [* Z& BAmerican market through 2007. A number of factors are working in Canada's
" d: n# S, P1 `favour, including healthy personal and governmental debt levels, the* N1 s1 q' i; E4 i
relatively modest rise in interest rates in our country, and general
' v8 g3 U# i" U2 l% Waffordability in our major cities. In addition, Americans are now seeing the; ^7 n, v! @( V( p1 h
downside of a tax system that encourages maximum homeowner leverage, and
$ w/ U, V7 L& c* _. qaggressive financial products such as zero- and negative-amortization
( ?. }' |- R; ^! m$ ?8 Cmortgages that work only in a high price growth environment."
1 r8 {5 M$ _8 e: t& g5 V% h( f( T3 B9 @; E0 c; s% H6 M
    <<
5 w) S3 J4 I8 ]9 v; R: ?                             REGIONAL SUMMARIES: I2 ^' _2 D, p' f- L* U: [0 E2 `
    >>0 a) r) i6 E: L2 ^' V

- z9 \$ D, O0 D) V& y    Balanced conditions continued to characterize the housing market in
& Y: r( E! [& s6 y5 l. [Halifax, as significantly higher inventory levels helped to moderate the rate
( H* _" D- z3 `6 I! d# `9 Zof price appreciation. Buyers were increasingly choosy, taking more time
! ^6 n9 z- {7 D  u7 l- glooking for newer, low-maintenance properties that were not in need of3 f( |8 @# L+ W0 Q3 A
renovations.
+ C$ E" V! i0 }9 {/ w2 E+ x% r8 |* @
. ~6 G( V$ y: {    The housing market in Moncton remained healthy and strong as a slight
0 O; ?) i2 \3 S3 U. U* Y+ |) Gincrease in inventory helped to moderate the rate of price appreciation9 I) a  Z1 D5 F' F
compared to the same period in 2005. Activity was brisk throughout August and1 s  x# R6 F5 P, S
September and is expected to remain this way through the fourth quarter.7 ~: B: u% M; s" p3 |- }6 g

' _) X0 \0 F6 d* [. n: s    The housing market in Saint John underwent its traditional summer
* o6 S5 S/ a! j% z8 Z1 Rslowdown in the third quarter, with activity picking up towards the end of the# G- b+ z( L2 @0 {1 ]* t9 b
quarter. The local economy continued to thrive, as construction on a new
8 K/ a6 |% R" O5 {7 x, x) V2 q600,000 square-foot shopping area has begun, bringing several new box stores; w" s8 t* P. w: ]( r- U
to the area. Buyers have begun seeking less expensive fixtures for their homes
, B  G7 F; v, {/ c7 t& Tand are instead opting for more affordable housing options.3 h8 S2 Y( x5 }, G1 g
9 c" l) s7 O/ l1 H
    In Charlottetown, the housing market started to move towards balanced
( t  S# V- i8 d6 B) bconditions, as some sellers had to begin to lower the asking prices on their) F9 ]$ o- \" g+ |' {  `6 Y' ^
homes to make them more competitive. Activity from out-of-town and US buyers' L: M& [% u- m  Z3 H
was down slightly compared to 2005, likely attributable to the strong Canadian
* \: _9 m0 W, |" C) k: {& v$ qdollar. Inventory levels began to creep up in the third quarter, providing
0 g3 @4 N3 _6 F: T/ e: Nbuyers with more options when looking for a home./ k; l. S2 N' x: u9 ~0 Y

3 a& V- Z$ S9 S: |8 m    Activity in St. John's slowed slightly in the third quarter, particularly
3 X2 s  ^0 Q; Jamong higher-priced properties, where there was a slight over-supply of homes
4 U1 Q/ C, I& w  {+ Y  B$ p, X! wpriced over $200,000. Listing periods have increased when compared with 2005,
5 r9 _, r2 F( |6 m6 [1 _as some of the pent-up demand that had characterized the market over the last* X7 F& X; k6 p  D0 _
few years has been satisfied, resulting in more normal, balanced conditions., Y6 S0 g/ ^- T7 P' y. D
- {' o, e6 O5 J' s" s
    Montreal's housing market recorded modest increases in average house: q# D* S2 w+ B2 T
prices, due to a slight seasonal slowdown in the third quarter as inventory1 M4 ~" C! q4 e! F9 {
levels rose. Part of this can be attributed to the fact that many renting; v& x+ _9 f; w  U
first-time buyers were motivated to close on the purchase of a home by July 1,# \. _) n9 _) J/ q, k1 A; Q* g4 g
when rental leases expire in Quebec. Once this date has passed some of the
# o6 U) I( G8 q* i' B  B! Dpressure is taken off the market, allowing buyers to visit more homes before
% d3 |; d1 y1 y) `: b. ?making a purchase.
. C1 G( h0 S% Z  @" r4 C5 f  R! Y( u4 Y
    Ottawa held its position as one of the country's most stable housing. d1 f. k; J7 x1 y% |
markets in the third quarter, reinforced by a vibrant local economy and strong
, q6 j( R3 o+ z4 F7 J/ xconfidence, resulting in modest increases in average house prices. The city0 K3 r, Q% j* ]% l
centre remained a bright spot in Ottawa, with homes in this area attracting: z; T' s0 ]  J, Y2 G( i
attention due to their convenient location and proximity to downtown; }1 t  Y: G, ?& C; N' J
amenities.5 Q" U! Y' o& f9 n1 k$ E* J) W1 \& L

0 @! [. s, \6 R. l( x: h8 i+ s8 D; z    The housing market in Toronto sustained healthy activity levels; x/ b2 ^& z, l! h" @# y5 h: h
throughout the third quarter, as a strong economy helped to maintain demand. Z: g; {8 G, A7 T
across the city, causing average house prices to rise moderately. Toronto has1 L4 f- }6 Y5 c
continued to experience modest growth in average house prices, and has been
0 _' M2 |1 u5 R! Udriven primarily by purchasers who are buying homes as their principle2 R* y4 C5 ?# O9 ~
residence, rather than for investment.
7 C3 B" u8 y! E& X
' c2 ]$ A& w, W) [; h4 z6 C    The vibrant Winnipeg housing market continued to show its strength as
' B/ ]1 B! W- [9 K  Xhouse prices rose during the third quarter. The booming local economy resulted
  ^/ N" u3 ~4 K; Win a historically low unemployment rate, helping to bolster consumer
- i$ G; j5 e5 ^6 p6 D5 yconfidence and Winnipeg's ranking as the city with the lowest capitalization! m' A$ z' C6 v+ z
rate among the country's larger cities - helped to encourage buyers to enter& ~7 s  p# {. P5 S. \
the market.
& S# q/ H  C7 B! Z8 \
- i( e' Z1 E# b; `4 H2 @5 C' J. y    In Regina, the market experienced a slight seasonal slowdown through$ H$ ]' ]8 Z/ G, g
July, as there were fewer purchasers in the market due to summer vacations. In0 \: C! _* p0 q6 t2 T0 r
August, activity resumed to the busy pace previously seen in the spring" U* i. R  ?  d4 S7 P
months, as the influx of purchasers made it more difficult to find a home due
: Y: @2 o6 G* |& a: vto the shortage of available inventory.
2 v9 Y' I& e. C6 Y0 _* R' [6 Q+ E" X6 j6 U) A5 t$ o7 H% R
    Activity in Saskatoon remained brisk as the market maintained its
/ m% _# P' S3 }& m# ^3 H3 umomentum from the busy spring sales period. The economy in Saskatoon remains
0 I* b+ _% g$ e4 |& v' Svibrant, as employment opportunities are abundant with many businesses1 e# D' K' v: E% l/ T( I7 p" F7 F1 _  v
struggling to make hires and having to recruit outside the province.
) g5 G  C/ R. F+ \* {* H
  e6 i* d6 b6 w3 n) l( s9 C    Calgary's housing market recorded blazing average house price increases. X3 B; b! x+ r) h. ~- S6 u
in the third quarter, in all surveyed categories. The burgeoning economy, low9 x7 c1 @# r; t
unemployment rates and low inventory levels remained the leading factors that- j6 T, j% l8 }3 `
pressured Calgary's house prices upwards. However, regardless of the soaring
/ T- \9 Q: ]4 ]prices that characterized the market - even during the typically slower summer; R: `0 W- e7 S
season - it is expected that activity will become slightly more balanced, as
  s& h$ t7 Z+ W% D# w- Qbuyers are becoming more reluctant to participate in the frenetic activity.

# ?! I# a; s8 d+ O
& B! q5 U1 _+ ~; K+ J    Edmonton's booming local economy continued to thrive in the third quarter+ X4 d: z6 l5 t! B/ n6 a
as activity in the oil sands north of the city continued to flourish. Edmonton( N; S8 j8 Y  F+ W
remained the hub of activity for those coming to work in the oil industry,
) a' X7 ]. }4 E* W, nmaintaining tight inventory levels across the city, resulting in prices" h+ p4 F) V/ G6 @1 N' {
increasing at record levels. However, as inventory levels continued to improve
2 @" Q" S7 \5 x. O% i" N3 H8 bin the third quarter the rate of price appreciation should moderate slightly
) o8 W6 ?+ s5 g7 g6 t' Rtowards the end of 2006.
   
; O( }2 E! L  U1 [& W4 j, r1 b5 p! u6 X- b8 a: m
While Vancouver has seen a slight reprieve from the severe shortage of
5 |; I; G9 A  @% S" ^7 p8 _5 b4 ninventory that had previously characterized the market, supply is still unable
2 C+ G; Y# N! L/ Tto meet demand, driving house prices upwards. Vancouver has a very diverse
5 u; h# U7 k+ d+ e. l0 igroup of active buyers - from first-time home buyers to baby-boomers to$ X6 p& g# T: L: n8 s
foreign investors - all of whom fuel the demand for houses, placing added
( H: F3 k# j) j( O+ C( K: f  S5 ?pressure on tight inventory levels.
+ t6 l! g4 S( [( }  c+ ]& c# w1 _* u2 f
    Victoria's market is vibrant and supported by strong economic" X0 T1 ^1 G1 r3 H) ?/ i! x
fundamentals, fuelled by a booming tech sector and a migration of young people
* b9 O4 x$ E* p6 g  qinto the city that has continued to support the area's house price increases;# ~2 l1 I0 h3 R- N9 L
while increased inventory levels have afforded buyers more time when searching
5 U% X" t; i3 kfor a home, helping to normalize the market's pace.
* n& m4 c+ G6 [/ z8 S
2 y( @, z4 G) }' M    <<
; U. i$ O5 x) c7 A! [4 d      Survey of Canadian Average House Prices in the Third Quarter 20067 {) }* L+ V' G6 y) Q9 l$ W

. _0 n+ n6 K2 S2 W    -------------------------------------------------------------------------0 Q# n) \8 U, h; I8 b5 J
                 Detached Bungalows                Standard Two Storey
/ t1 h0 i+ d8 Y/ I$ a7 \! x5 {8 U    -------------------------------------------------------------------------
  P) Q  n' k6 n  k, C                     2006 Q3     2005 Q3    Bungalow     2006 Q3     2005 Q3
! [& ]7 k( f2 R3 p' `    Market           Average     Average    % Change     Average     Average
9 |* o% `. X/ ~+ J" H8 ]    -------------------------------------------------------------------------
4 N: D1 B6 l2 z( }# L    Halifax          186,333     173,333        7.5%     198,667     199,0004 A/ U+ R' G6 a; V/ q. c6 H
    -------------------------------------------------------------------------
; z2 d: p5 r) s7 r7 p8 O    Charlottetown    145,000     141,000        2.8%     175,000     170,000
! I3 D& m9 k, _: I- o, H    -------------------------------------------------------------------------
, {& t2 S$ y$ p- |0 _    Moncton          135,000     127,000        6.3%     129,000     123,000
* d8 x' g- `' J, a% u    -------------------------------------------------------------------------
8 U; m% z- a, v+ M  j    Saint John       141,200     142,900       -1.2%           -           -6 f3 W! ]! {6 |4 {0 ?0 J' s) ?
    -------------------------------------------------------------------------
7 r8 }  I2 L+ N" z    St. John's       143,667     142,667        0.7%     200,667     202,333
" w; d, R7 D7 q  B+ p    -------------------------------------------------------------------------
5 C) g1 b; A, G. q    Atlantic         150,240     145,380        3.3%     175,833     173,5831 p$ w7 V, W/ }3 i
    -------------------------------------------------------------------------$ g* |6 E1 Q7 ?6 K; ~
    Montreal         213,691     203,500        5.0%     321,141     316,185; m( c: ?0 ^9 y' d4 y' C' P
    -------------------------------------------------------------------------
* Z5 w# B1 v: z3 y. E- D    Ottawa           290,083     278,417        4.2%     285,667     273,250
0 S4 Y5 o2 n0 y4 c" y    -------------------------------------------------------------------------
( k& J! ^$ y% A, l+ j" H, ?9 d5 D3 H" H    Toronto          373,368     355,882        4.9%     481,523     474,766
5 b1 g/ e& x, {    -------------------------------------------------------------------------
0 L& O* r" ~: I9 u+ i8 s+ f" W; ?    Winnipeg         181,579     159,860       13.6%     202,337     180,707- l3 x/ ^- D& F6 r
    -------------------------------------------------------------------------
$ {/ T- z* ?+ T    Saskatchewan     170,667     156,083        9.3%     182,600     166,5007 G2 ?. o* _0 C9 c9 m; L. M
    -------------------------------------------------------------------------
' w* `. j6 _' f/ i- y2 K    Calgary          395,067     252,411       56.5%     405,778     264,389
) D0 ~. l: q9 c# m/ u, v( r& ~7 F    -------------------------------------------------------------------------
% C, V+ _- C* V; v9 c+ ~    Edmonton         286,857     194,857       47.2%     316,429     206,7148 d/ y7 i" b5 J
    -------------------------------------------------------------------------
& `% e) }6 ]9 r% g' q    Vancouver        704,250     601,000       17.2%     794,000     697,500
( T' v7 V! e1 [    -------------------------------------------------------------------------: z9 A* [7 y) m. K+ F- {
    Victoria         375,000     348,000        7.8%     403,000     391,0009 {+ |3 b2 U' G2 c  b4 {. y
    -------------------------------------------------------------------------
: J+ j& M0 \6 w8 O, q& ?4 ^* e    National         300,365     258,202       16.3%     365,380     322,860
4 g! w# G+ Z7 [" E+ S    -------------------------------------------------------------------------' y0 j) |5 N9 c, s9 a) c$ S! Q
4 y3 t+ \* b$ w8 o" P# |- \
    -------------------------------------------------------------
5 n+ Z8 @; a* R6 U9 i0 J                               Standard Condominium. S4 R" \) ~. s! S! A3 `
    -------------------------------------------------------------2 O  O0 _' L. g# ~
                    2-Storey     2006 Q3     2005 Q3       Condo
$ e# R3 e! s) N, K- A    Market          % Change     Average     Average    % Change& i& L: w# w  t7 F  k" F
    -------------------------------------------------------------. W* g* F1 u8 p. j* l( i
    Halifax            -0.2%     142,000     103,000       37.9%
  U6 \: V  m/ d0 w6 i# r    -------------------------------------------------------------
: c5 M4 z& e( |) X9 A6 e    Charlottetown       2.9%      98,000      98,000        0.0%+ q4 t4 p# }7 k9 V( h) b
    -------------------------------------------------------------$ w6 @! s' y9 |  ^4 _/ j, g
    Moncton             4.9%           -           -         N/A2 ?* d" U" B5 z
    -------------------------------------------------------------+ A8 Y1 Z9 @4 j4 x8 b4 n% N
    Saint John           N/A           -           -         N/A
8 J; f& C2 Y! D; u& n; s0 O/ y    -------------------------------------------------------------
0 o# E4 y! l/ C# D1 I    St. John's         -0.8%     146,333     145,667        0.5%
% j9 G- W# `1 S7 ]$ r* G# t    -------------------------------------------------------------' C+ s& Q9 y% q0 @
    Atlantic            1.3%     128,778     115,556       11.4%
' f' y+ e4 R. b) _  B    -------------------------------------------------------------9 r  q% q9 @2 S5 G/ l+ Y1 T# H
    Montreal            1.6%     193,190     188,016        2.8%
+ g3 W' @1 n+ h1 C5 G3 h    -------------------------------------------------------------
: t7 O5 M7 Z, e" v1 E    Ottawa              4.5%     181,083     172,250        5.1%
1 G0 W8 s# C6 ^4 x' q    -------------------------------------------------------------  a+ v7 d3 _% M' e
    Toronto             1.4%     252,088     242,918        3.8%2 Q9 v( H# o4 B' S; ^
    -------------------------------------------------------------
! x/ J( Z5 c, [6 A0 F' @6 n/ `* z/ w    Winnipeg           12.0%     105,648      96,008       10.0%
  m4 D5 }2 @5 [* g/ |* ?    -------------------------------------------------------------
) y  W$ [, O) z* _8 y* S0 |    Saskatchewan        9.7%     106,250     101,000        5.2%
+ F" D; D3 K) r) b, r+ L) ~    -------------------------------------------------------------
, i+ C* m  S1 }1 z4 M    Calgary            53.5%     245,844     153,867       59.8%
# K2 _7 ^5 O% w$ B& ~7 q5 N3 [    -------------------------------------------------------------
* D3 E6 d6 P6 a" H+ ^; [    Edmonton           53.1%     200,433     131,500       52.4%! k2 F: i& E+ u* L3 V) o! l, e
    -------------------------------------------------------------2 x. i! f  b2 p6 {4 y( K# d$ ^6 j# ?6 d
    Vancouver          13.8%     366,250     323,250       13.3%
7 o/ C% t+ Y& y/ M# N    -------------------------------------------------------------
' ^2 o- y/ T) t2 c+ k    Victoria            3.1%     229,000     220,000        4.1%
4 _4 Q  o- f. D: a: f    -------------------------------------------------------------+ ~' [% I0 H- u
    National           13.2%     211,562     185,296       14.2%4 J/ w* f, c* c, B: a0 |$ K3 v( @; \' |
    -------------------------------------------------------------" B+ M. j  [- T; s6 k
    >>* p" W& v/ E) E( K% N
4 Z. G2 K- \! I! X' m
    Average house prices are based on an average of all sub-markets examined, s2 q2 R; {7 l( U4 ]
in the area, except for the smaller markets of Charlottetown, Moncton, Saint
1 q' B6 p* U% @* dJohn and Victoria.
  {% r) \8 }5 B' b. k, Y1 h% l- S8 x; O- E$ [- M
    The Royal LePage Survey of Canadian House Prices is the largest, most3 S* C, U( C, }4 L$ J" }" V; E+ r
comprehensive study of its kind in Canada, with information on seven types of; L7 r( d% D8 }$ a
housing in over 250 neighbourhoods from coast to coast. This release
4 ]6 O$ R1 ]+ S) t# U# [references an abbreviated version of the survey, which highlights house price7 }9 b' z* ]. L2 @% j0 s
trends for the three most common types of housing in Canada in 80 communities+ H. |. ~. W! P$ `+ X% u2 K2 w* o7 T
across the country. A complete database of past and present surveys is
3 T2 `; R3 d2 uavailable on the Royal LePage Web site at www.royallepage.ca, and current
: W- ~$ s5 g) I7 ^figures will be updated following the end of the third quarter. A printable
! Q! b: o$ n- [9 y: ]) r9 d8 M0 Yversion of the third quarter 2006 survey will be available online on$ I7 c3 n3 e6 A2 l
November 15, 2006.
3 t. Z$ c, Y) g. ^# |! V- m    Housing values in the Royal LePage Survey are Royal LePage opinions of
, Z- B8 k9 }+ s- e) A4 `6 c" B# lfair market value in each location, based on local data and market knowledge
4 u( D  K% x5 Y% F) S- s! Zprovided by Royal LePage residential real estate experts. Historical data is
3 U/ f0 d8 I9 y0 B1 i. z; q( Vavailable for some areas back to the early 1970s.
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