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Canada's housing market both vigorous and stable ' _$ Y$ `- ~, ]5 P/ i8 r- v1 r2 z5 W. O
M! F3 R4 R1 c I
- Country's market poised to show growth throughout 2006 -3 x+ ?' A$ Y/ a! _
- O: b7 g% g- x& A9 X h1 K, s
TORONTO, Sept. 28 /CNW/ - For most of Canada, the housing market( V. m; l( j& L
exhibited moderate price increases and stable unit sales during the third* }' h! S: s( ?+ {0 v
quarter. Wide regional variances continued to be the dominant characteristic* h& q# o/ p3 R' X+ b) E& e" }7 P& L% A
in the market, exemplified by frenzied levels of activity and double digit( l! m2 v. s7 P; v# j' ~
price gains observed in the energy and commodity rich Western provinces, and, N" o$ `: a, l8 l, F
more reasonable sales volumes and moderate price appreciation in Ontario,
. T" a a1 x$ ]' f3 L+ {- r7 M: uQuebec and Atlantic Canada, according to a report released today by Royal
# m$ f$ V) F3 | h8 H4 {6 q) y3 ^LePage Real Estate Services.
q h4 p9 y- d/ \. O% w/ d; `* i( L
Nationally, market trends established through the first three quarters2 R$ e2 A7 c3 z* C5 _
are forecast to continue for the remainder of the year. Robust economic
6 u8 e1 D8 X+ S1 ]" c6 V% Mconditions, low unemployment rates, modestly growing salaries and wages, and" l8 O& ^% \$ Z9 U+ b9 i) C
sound consumer confidence contributed to the overall strength of the" ~& i6 F8 {8 d, m: O
residential real estate sector.- G* S0 \- W; P
0 Z2 h, X+ M0 T: D8 f) o4 V- Y Of the housing types surveyed, the highest average price appreciation! u1 u* d2 I1 \4 T3 M% ?* e1 r6 [% |
occurred in detached bungalows, which rose to $300,365 (+16.3%)
3 V( e5 \ v4 B8 P+ ~year-over-year, followed by standard condominiums, which rose to $211,562( G; A+ B" i! F& S T% B( {
(+14.2%), and standard two-storey properties, which increased to $365,380$ c" k3 i- f& e* T; k3 Q
(+13.2%).
6 X4 Y4 v- b2 @" N+ o! v1 S$ e
& R8 ~7 J# m( r# k4 w+ G1 I6 l "Canada's sturdy housing market continued to demonstrate steady growth
5 H* a; V5 r% w/ j# rduring the third quarter. For all but the west, we have moved on from the6 u! j9 M* c t, R# h! q3 c9 o
frenzied expansion that characterized the first half of this decade, and are
" i: n3 N0 [( \poised to show continued growth at a more moderate pace," said Phil Soper,' |: ]: m& x: _1 m( i
president and chief executive officer, Royal LePage Real Estate Services.
: z* o" Y# |; q, y" ^, r- ^"Gone is the sellers' market that we have lived with for some years. We0 y; I( R+ W* ^3 r
welcome the more reliable conditions that are characteristic of a healthy
, S( b( c+ H6 J7 l# D+ hbalanced market."
2 u4 z& k) V" m, k
- @+ f. Z5 e" B* i Despite the double-digit rise in average national house prices,
$ ^0 {1 k2 ?- Y( ]. T/ H5 xconsiderable regional variances were exhibited again this quarter. The shift
5 ^5 U. U, K' N% m( f: b1 dto balanced market conditions, which began in late 2005, has continued/ {+ J$ o* U+ @ Y! z2 D2 k# G7 ^
throughout most of the Central and Eastern regions of the country. In the core
0 D) x/ Z' e/ w! ]! Renergy producing western provinces, the combination of very high in-migration,
b% h& X8 s7 ^, w3 N pmanageable affordability, and a shortage of inventory has driven record
$ [5 R- O9 N9 l5 \breaking price appreciations.$ l* X7 i* \; \) G6 h0 O
9 a: ^9 @) {7 d4 U# n4 e
Echoing the second quarter and supported by Alberta's rapidly expanding
. `( ~5 C$ }; y# j; Q# Veconomy, Calgary and Edmonton led the charge of Canadian cities with the! l) U& Z$ ^% b& c# I I: F
largest house price appreciation in all housing types surveyed.& q3 s8 I& w2 j; h1 c
+ L* e3 [$ {- Q6 N$ y, u; i+ C% `5 T In Ottawa and Toronto, growth remained steady, supported by solid
# s) _5 F* F2 _8 feconomic fundamentals, an increase in available inventory and strong consumer' q+ ~9 x E9 i; J! {5 J
confidence. While the pace of price appreciation in Ontario leveled off
; v( x/ ]3 g$ T3 qslightly, the province's real estate market remains poised for modest growth.
: v8 s' I; i; C5 D# F2 O" UIn Atlantic Canada, new housing and condominium construction offered buyers' l- w7 f% I- w0 G& ^; a" s
greater selection at more competitive prices, resulting in a slower rate of$ T$ V, z% z2 N+ f2 J% E. r
price appreciation when compared with 2005.
% H- g4 C: @( A% F7 }+ E
8 V% L; G6 l, x4 J' E3 Y; h While the pace of growth in Canada has slowed, the domestic housing
! f- t. b0 B$ ?market is expected to outperform the American market. The economic and6 c7 `' ]3 V7 U; K
financial fundamentals driving the residential real estate sector in Canada9 {, O0 ?0 X2 q' ~$ r6 Y: P" {
are markedly different than those found in the United States.! C" S& g1 p1 U: Q2 n7 B* |6 X
( U# m! i6 M; x! r* s/ G# y Added Soper: "Canada's housing market is likely to outperform the
% g/ y$ |& T$ xAmerican market through 2007. A number of factors are working in Canada's
7 |! T# n. y- Efavour, including healthy personal and governmental debt levels, the
5 L. o- F* J; A5 a L9 Y! Qrelatively modest rise in interest rates in our country, and general9 K2 W$ G# ?/ ]' _. _
affordability in our major cities. In addition, Americans are now seeing the
- }! d6 Q4 `0 b* Vdownside of a tax system that encourages maximum homeowner leverage, and9 c! g$ D+ Y, E3 }
aggressive financial products such as zero- and negative-amortization* [2 M! V2 M" l1 X8 N
mortgages that work only in a high price growth environment."$ {* O) C9 ]8 d' k9 b" y
* E4 \, S" O$ g
<<1 D8 L) j9 m2 C! Y
REGIONAL SUMMARIES
+ c- Y, U; R9 V! a% p" D& y >>% c2 u m. [9 t. K- M8 S
* c/ W' g1 `' G+ j
Balanced conditions continued to characterize the housing market in
( ^, s' O; q% A& \8 k DHalifax, as significantly higher inventory levels helped to moderate the rate& z/ K6 s! Q( `7 \: w6 B
of price appreciation. Buyers were increasingly choosy, taking more time1 V5 m n3 V# e" P! m7 m) r
looking for newer, low-maintenance properties that were not in need of
) u. M# J9 o! o& T! N4 Jrenovations.- x! \( @- T9 p& ?$ _9 i. W$ {
8 j" ~) S `7 Z
The housing market in Moncton remained healthy and strong as a slight4 Q1 o4 @# t! j- C& d
increase in inventory helped to moderate the rate of price appreciation
/ R% k7 \, [" u# T" t0 c4 f% ` mcompared to the same period in 2005. Activity was brisk throughout August and
$ \/ C9 X* n/ l+ f4 xSeptember and is expected to remain this way through the fourth quarter.
% Z% Z# X$ G# e- @2 R5 Y
L/ ]: Z6 W5 G" U The housing market in Saint John underwent its traditional summer
" u% @5 q2 m# Sslowdown in the third quarter, with activity picking up towards the end of the
0 ?2 `) k- J, n- m7 z* Yquarter. The local economy continued to thrive, as construction on a new
+ p, [ L+ s4 H; h) q, v600,000 square-foot shopping area has begun, bringing several new box stores
4 G/ s+ d. ]) T( q3 ^. x7 b& Tto the area. Buyers have begun seeking less expensive fixtures for their homes7 I+ P- f3 y) ^! i# ~
and are instead opting for more affordable housing options.
* M; o# G4 s0 U) s& I" E9 S! B* Y: S/ s0 _, P
In Charlottetown, the housing market started to move towards balanced
$ F# S; u! U; Bconditions, as some sellers had to begin to lower the asking prices on their! Q' j* e/ f( F2 g
homes to make them more competitive. Activity from out-of-town and US buyers
& B( n% h( A# a" o" k/ C# j# Zwas down slightly compared to 2005, likely attributable to the strong Canadian& T' y$ M. q) {
dollar. Inventory levels began to creep up in the third quarter, providing
* n3 O9 U/ g" Q7 X1 ~2 S, Sbuyers with more options when looking for a home.
" ~0 ^+ q' S+ m% g$ r2 _
8 s9 `' P' X% G6 o( l7 q6 Q Activity in St. John's slowed slightly in the third quarter, particularly
2 H9 W$ m4 ]. E8 {3 [' uamong higher-priced properties, where there was a slight over-supply of homes( I8 Q b5 ]( W
priced over $200,000. Listing periods have increased when compared with 2005,
& I/ |, b" L2 ?+ M( r% Kas some of the pent-up demand that had characterized the market over the last
& P5 k! S* n) M2 l+ ?9 I; bfew years has been satisfied, resulting in more normal, balanced conditions.0 c+ A) W7 n# L( Q) M1 b8 |
) F7 y2 t5 z6 ~; Z
Montreal's housing market recorded modest increases in average house" ?/ C7 p `$ I$ M {8 s
prices, due to a slight seasonal slowdown in the third quarter as inventory
& Z7 n" Q$ H$ P. o! alevels rose. Part of this can be attributed to the fact that many renting( j r2 S3 m# s5 A& D+ E4 L
first-time buyers were motivated to close on the purchase of a home by July 1,% d" A) X" f" B7 c; P' g" y
when rental leases expire in Quebec. Once this date has passed some of the
q% M5 J4 X% h5 k5 A6 lpressure is taken off the market, allowing buyers to visit more homes before; k. b* J* ~) q4 D* ?8 _2 ?
making a purchase.6 w7 t2 f2 K: s2 O/ ^4 i
; a" Q/ Q+ Z1 _# [/ v \' H Ottawa held its position as one of the country's most stable housing
6 W7 d) k0 k3 U+ A& q2 o) dmarkets in the third quarter, reinforced by a vibrant local economy and strong# }" ]) i$ k- a9 E+ I
confidence, resulting in modest increases in average house prices. The city
0 G! F5 w" R( vcentre remained a bright spot in Ottawa, with homes in this area attracting/ R: v. d2 _- m- L1 H6 }& W- v
attention due to their convenient location and proximity to downtown
% D8 f+ R- [- i4 ]amenities.
9 V7 [3 x; \* c8 u/ J
* r2 x/ U9 B( } The housing market in Toronto sustained healthy activity levels: I1 O( c, K# H
throughout the third quarter, as a strong economy helped to maintain demand
r2 ]* B5 D! A: K' Yacross the city, causing average house prices to rise moderately. Toronto has
6 O) ~. }& j1 Z5 o: n/ n1 rcontinued to experience modest growth in average house prices, and has been5 @2 P7 z6 l) U5 o( T
driven primarily by purchasers who are buying homes as their principle; _) m/ X! a! d; t f9 R! {
residence, rather than for investment." L7 t5 Z$ F$ y* e
" U4 z' ]0 S% O+ n2 H b1 @/ M! S The vibrant Winnipeg housing market continued to show its strength as
! o( e8 i; C7 V9 N' ?house prices rose during the third quarter. The booming local economy resulted
% \$ c6 Y6 Z2 P8 N) z Pin a historically low unemployment rate, helping to bolster consumer& U6 _' s. p4 G0 {) K
confidence and Winnipeg's ranking as the city with the lowest capitalization
1 V2 t8 p+ X3 K+ c0 Y9 ?6 Nrate among the country's larger cities - helped to encourage buyers to enter7 w* }$ F: x5 J: S e+ v
the market.
! J8 s9 Z+ H; f4 B. `% I+ R2 {( C3 l: Q* g
In Regina, the market experienced a slight seasonal slowdown through
" y6 i I- q' g+ ?July, as there were fewer purchasers in the market due to summer vacations. In
9 S2 Y6 @! A/ H& HAugust, activity resumed to the busy pace previously seen in the spring
7 R2 \3 C* s# o! F6 m& K' |months, as the influx of purchasers made it more difficult to find a home due( s- @) a& ^- q' |5 o2 u! b3 P
to the shortage of available inventory.
5 I1 [& O/ {6 t
- R: t5 v, S. {1 |7 M9 B. ^7 X2 k Activity in Saskatoon remained brisk as the market maintained its
" w6 E4 ?$ s6 w# lmomentum from the busy spring sales period. The economy in Saskatoon remains
) {. F3 a, U5 r mvibrant, as employment opportunities are abundant with many businesses5 ^+ s+ S( [0 W
struggling to make hires and having to recruit outside the province.
" x N5 s' J2 E
# k/ s% E5 @5 C4 h6 T' O' G Calgary's housing market recorded blazing average house price increases
6 T) E- L* f0 D1 i! Z: ?7 t( Jin the third quarter, in all surveyed categories. The burgeoning economy, low
! j, J5 [) S$ M8 T' Ounemployment rates and low inventory levels remained the leading factors that
}8 L! p) F" D* S0 E$ upressured Calgary's house prices upwards. However, regardless of the soaring
$ l9 O5 ]$ X( M( S/ Wprices that characterized the market - even during the typically slower summer
, Y7 w7 {. [# `4 B2 N2 \- s- U) bseason - it is expected that activity will become slightly more balanced, as# s4 m: x+ s* D: H! H/ T( i0 [
buyers are becoming more reluctant to participate in the frenetic activity.8 P8 ~; z2 X6 e& n
b4 q# L: d$ y! x; p* G4 i
Edmonton's booming local economy continued to thrive in the third quarter: n& X' f# j9 n
as activity in the oil sands north of the city continued to flourish. Edmonton
! w* m# R' S5 Rremained the hub of activity for those coming to work in the oil industry,
; K o0 g, l8 L5 X( Nmaintaining tight inventory levels across the city, resulting in prices
5 A+ e p+ j) nincreasing at record levels. However, as inventory levels continued to improve
+ N& Y0 _' X2 u& `! |* jin the third quarter the rate of price appreciation should moderate slightly7 Y7 N* I, Y' t8 E
towards the end of 2006.
6 H! O6 W2 V( h2 a4 r! d
9 t' L8 H4 e+ V! IWhile Vancouver has seen a slight reprieve from the severe shortage of
+ [7 Y; m+ `+ ~2 G6 ]inventory that had previously characterized the market, supply is still unable) p5 e( n, L( a! q9 j2 [
to meet demand, driving house prices upwards. Vancouver has a very diverse9 L% H9 p3 ~' m( P
group of active buyers - from first-time home buyers to baby-boomers to. s4 U( C0 U- _+ S
foreign investors - all of whom fuel the demand for houses, placing added
2 Z5 q5 v9 q/ m1 ?% ipressure on tight inventory levels.
' i: r* ]3 e; @6 p @- l2 b/ v+ ^; C
Victoria's market is vibrant and supported by strong economic
, X; J8 F5 x' i$ Z6 ofundamentals, fuelled by a booming tech sector and a migration of young people
1 c% w. X: [. j. dinto the city that has continued to support the area's house price increases;1 r B& e2 P7 J }% I$ {
while increased inventory levels have afforded buyers more time when searching( [9 w0 b9 ~) g$ E" }5 L$ b
for a home, helping to normalize the market's pace.
! `* C x9 R( g5 _% w. G2 w; n& P' z
<<8 M# Z, M d. u+ x
Survey of Canadian Average House Prices in the Third Quarter 2006 {6 `0 l: K/ k8 S7 |, y; t
) w- A% q# i l/ b" e/ P' N
-------------------------------------------------------------------------
) ~) ^8 Z) t* W; K* v0 ]* O5 P Detached Bungalows Standard Two Storey8 C1 B: F+ ~2 j$ w8 T7 z) Y s
-------------------------------------------------------------------------
: M7 }" X( X) V 2006 Q3 2005 Q3 Bungalow 2006 Q3 2005 Q3
; R, a7 F' j9 f Market Average Average % Change Average Average
! O" H! K9 s# j8 n -------------------------------------------------------------------------
- \1 e$ c5 d6 u0 @7 z Halifax 186,333 173,333 7.5% 198,667 199,000/ p, {0 A0 s$ v/ |& R9 Y: a" `
-------------------------------------------------------------------------$ o. Y" _& q. ?6 N
Charlottetown 145,000 141,000 2.8% 175,000 170,000% t' s7 z/ j# z; X& g0 v5 M! k
-------------------------------------------------------------------------3 b+ t$ q8 U5 M' a* a/ e" u* d2 \
Moncton 135,000 127,000 6.3% 129,000 123,000: n- f a9 X, X1 x. {0 N
-------------------------------------------------------------------------2 F3 [7 q# B& @* B y" W8 `
Saint John 141,200 142,900 -1.2% - -
7 v; i' i# _/ E! r3 ^" b4 H -------------------------------------------------------------------------
! \2 [; m: S( X2 ?+ {' c St. John's 143,667 142,667 0.7% 200,667 202,333
. w$ u( f$ x. h% F' e+ Z+ k8 l -------------------------------------------------------------------------" I: L% |9 W# l) V: {6 L
Atlantic 150,240 145,380 3.3% 175,833 173,583
# _1 a, t! ^) S/ t: [! E0 x4 D( p" f4 k -------------------------------------------------------------------------% V+ \3 t/ B. w$ `
Montreal 213,691 203,500 5.0% 321,141 316,185$ D- A" ?9 h1 o% w3 p
-------------------------------------------------------------------------* H, |4 T( H8 d0 S( Z
Ottawa 290,083 278,417 4.2% 285,667 273,250
$ S) g2 v0 b( ^; v O/ z -------------------------------------------------------------------------' C& y( N! f, i. l8 }) K
Toronto 373,368 355,882 4.9% 481,523 474,766
0 M1 j; ]! t) v( b -------------------------------------------------------------------------1 c/ T5 F# R" t O% U
Winnipeg 181,579 159,860 13.6% 202,337 180,707
! |( U. v& v$ P/ B -------------------------------------------------------------------------
" t# C' s" o m! l% G Saskatchewan 170,667 156,083 9.3% 182,600 166,500
. y5 r- A i0 _ -------------------------------------------------------------------------/ s/ D! u3 R5 s0 P) w Y9 l
Calgary 395,067 252,411 56.5% 405,778 264,389! y7 y' _% e6 L$ W4 ^. E
-------------------------------------------------------------------------! W# V0 @. o: H9 T g
Edmonton 286,857 194,857 47.2% 316,429 206,7147 o* }: U% T1 V, N; v o6 [3 j
-------------------------------------------------------------------------
; U: d% ^. m _- Z* H( i1 X Vancouver 704,250 601,000 17.2% 794,000 697,500( R5 E) s+ e3 v
-------------------------------------------------------------------------" z) V+ t b" s
Victoria 375,000 348,000 7.8% 403,000 391,000
& L8 K8 t k- b2 {* ` -------------------------------------------------------------------------4 g+ q- y8 N" D
National 300,365 258,202 16.3% 365,380 322,860" b; z5 q& S, z3 R: h
-------------------------------------------------------------------------( \* ^' B! K- O: z3 u5 x. R
8 I4 e5 t: Q4 G
------------------------------------------------------------- Z4 ]/ @+ j( e3 n0 y+ q
Standard Condominium
2 Y6 u; E6 \7 q8 H6 o -------------------------------------------------------------
$ v1 g, Q- o- r, F 2-Storey 2006 Q3 2005 Q3 Condo
5 e' {1 t$ L1 Y4 q* M Market % Change Average Average % Change
) [1 l! U7 `' @ -------------------------------------------------------------
- {+ g; \, h9 E1 _ Halifax -0.2% 142,000 103,000 37.9%
4 a7 p ]9 R& f8 j# q6 ` -------------------------------------------------------------
5 ~, _% y3 w' p Charlottetown 2.9% 98,000 98,000 0.0%
( T+ n0 r* O' f( u; q -------------------------------------------------------------, E3 F( K+ h% ^
Moncton 4.9% - - N/A6 o8 o+ i, ~. c7 ?
-------------------------------------------------------------
! Q& v( i' p6 r, C Saint John N/A - - N/A* X! o: _) ?7 {* `* J
-------------------------------------------------------------0 x0 ^9 F) n* u. f# h
St. John's -0.8% 146,333 145,667 0.5%
( X/ c4 q0 ?8 c: `/ w9 D -------------------------------------------------------------( D9 ]% L8 _7 A. \& ?5 Z7 [
Atlantic 1.3% 128,778 115,556 11.4%
0 |1 W6 z- |- x: T -------------------------------------------------------------. q4 N! i+ |3 V4 e7 D/ U( Y8 }
Montreal 1.6% 193,190 188,016 2.8%
Z/ p( Q( i( S. v1 G -------------------------------------------------------------9 l# A* M$ P8 p* }
Ottawa 4.5% 181,083 172,250 5.1%6 y0 P3 e) U! S
-------------------------------------------------------------
5 V& [) c i: H. @' \ Toronto 1.4% 252,088 242,918 3.8%3 \1 d# _9 l9 O- g
-------------------------------------------------------------
t+ x+ l; u8 Q" I/ M7 q Winnipeg 12.0% 105,648 96,008 10.0%
0 |2 \% W" ]$ n5 C -------------------------------------------------------------
% A9 A9 B/ s+ W8 r7 y Saskatchewan 9.7% 106,250 101,000 5.2%
# o2 ]% q9 { V/ v8 L -------------------------------------------------------------! z! M0 b+ c' d' |
Calgary 53.5% 245,844 153,867 59.8%
* V. m4 w5 a/ P5 S, S- } -------------------------------------------------------------
+ J# y! E( E; D F- _$ t, S Edmonton 53.1% 200,433 131,500 52.4%
, e' r' }# Z% S$ F -------------------------------------------------------------
: h1 B" ^& k; e6 S. s& Y" ] Vancouver 13.8% 366,250 323,250 13.3%
5 K+ c7 }/ ^4 u( n5 S -------------------------------------------------------------
$ G. E1 u" m' e2 a% h( } Victoria 3.1% 229,000 220,000 4.1%$ b6 |/ C. b; Q0 E
-------------------------------------------------------------
. U" I! _1 I3 r3 S National 13.2% 211,562 185,296 14.2%9 n0 A" k$ P, q5 p
-------------------------------------------------------------
/ V2 d" K, d: H >>
& \+ K0 |3 w: }/ P x: i+ [0 ~( {* Q# O% r- _8 ]- F
Average house prices are based on an average of all sub-markets examined
6 v& Q9 |% f! L# \8 p' \0 \in the area, except for the smaller markets of Charlottetown, Moncton, Saint/ H, J/ `6 @7 h- E D' l
John and Victoria.+ v9 V2 C) V+ }" Q V
. y9 q, E, l. u" V u The Royal LePage Survey of Canadian House Prices is the largest, most
% |! v' K8 d6 |comprehensive study of its kind in Canada, with information on seven types of [. K5 R" y9 g& `3 O
housing in over 250 neighbourhoods from coast to coast. This release
! |# \6 H! W4 P4 Q7 x, k. n" ^5 Dreferences an abbreviated version of the survey, which highlights house price
' u4 N5 w; m" Y% z! |/ x" gtrends for the three most common types of housing in Canada in 80 communities
- B' O# u& X: W( S3 w" g! w- Kacross the country. A complete database of past and present surveys is
6 j" v% w. I0 B+ U8 Iavailable on the Royal LePage Web site at www.royallepage.ca, and current
' z; ?: c/ H+ efigures will be updated following the end of the third quarter. A printable: n, y c6 w' o/ g$ I# ^& O ]) Z
version of the third quarter 2006 survey will be available online on
3 |% U0 f/ Q3 D7 J6 uNovember 15, 2006." D$ l2 r) g% ?$ `: }+ v
Housing values in the Royal LePage Survey are Royal LePage opinions of
6 `8 \9 H1 u% c1 g# Z) dfair market value in each location, based on local data and market knowledge
G3 n+ f+ a) v1 Uprovided by Royal LePage residential real estate experts. Historical data is
1 }1 ]' F5 K$ Favailable for some areas back to the early 1970s. |
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发表于 2006-9-29 08:09
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