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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
+ c& k. m" e" w0 p7 T% u+ W  ?6 F, y# U5 e2 y+ O
- Country's market poised to show growth throughout 2006 -4 A  g4 d! x0 h" D! `$ j7 G/ g

6 H" s# i; }& V( S) F& t0 F    TORONTO, Sept. 28 /CNW/ - For most of Canada, the housing market
. D0 C# J. {1 I6 y2 lexhibited moderate price increases and stable unit sales during the third
; d" M& F2 S* d+ N7 C, yquarter. Wide regional variances continued to be the dominant characteristic
" _$ f% x" A! o" I! ^. pin the market, exemplified by frenzied levels of activity and double digit  |% a8 s2 o' J, O
price gains observed in the energy and commodity rich Western provinces, and& s8 m, e3 `- p& e! u
more reasonable sales volumes and moderate price appreciation in Ontario,1 b9 [4 k8 q/ @$ v+ M. M
Quebec and Atlantic Canada, according to a report released today by Royal; O6 g1 j0 ^. j/ H; d0 \7 D
LePage Real Estate Services.
8 i# ^' ?9 N  n( V6 \
0 [" [; J" ^: Y; P( d$ ^8 v    Nationally, market trends established through the first three quarters" l( w5 n% s4 K2 y& t4 k
are forecast to continue for the remainder of the year. Robust economic
) g$ Z9 A" [7 T* t, Z# y( K" b4 Qconditions, low unemployment rates, modestly growing salaries and wages, and
, g. d. E6 x5 esound consumer confidence contributed to the overall strength of the1 b) [6 O- z8 S% W, T
residential real estate sector., `6 U7 k4 I- e+ }, ^# g4 h  B
! z3 U5 Y( H$ k' k' _) C5 N' V0 f
    Of the housing types surveyed, the highest average price appreciation( z/ @( Z  G4 J# w
occurred in detached bungalows, which rose to $300,365 (+16.3%)
9 K( A: U5 a9 B' H: U* y: l# myear-over-year, followed by standard condominiums, which rose to $211,562$ o) }/ Y: y8 i" e# h, ]+ U7 r
(+14.2%), and standard two-storey properties, which increased to $365,380
. C! @; b. y& d; B(+13.2%).  U0 D( b1 [& d  t) H

2 i2 V' {8 @' U0 c  |0 m( w    "Canada's sturdy housing market continued to demonstrate steady growth$ v0 L  U, m! i: T
during the third quarter. For all but the west, we have moved on from the
8 O% o5 W, i" {0 Y' e2 Kfrenzied expansion that characterized the first half of this decade, and are
, B7 ?$ Q* p# ?2 _: t4 c3 y2 Bpoised to show continued growth at a more moderate pace," said Phil Soper,  h6 G2 w8 ~: T  g
president and chief executive officer, Royal LePage Real Estate Services.
2 L% g, k7 A% S& I9 \) N9 @9 k3 Q"Gone is the sellers' market that we have lived with for some years. We- y" N" b. f& l" T- s4 ?1 Z
welcome the more reliable conditions that are characteristic of a healthy
1 Z6 t& j: y  ], T0 R$ Xbalanced market."
2 f3 K: ^- P! Y0 _
' p8 i$ V3 E) _. u9 Q" M/ J    Despite the double-digit rise in average national house prices,
, Y$ l4 I$ `1 @4 gconsiderable regional variances were exhibited again this quarter. The shift; H3 ^" f% }  A
to balanced market conditions, which began in late 2005, has continued
$ O" D! T" f; k4 E( pthroughout most of the Central and Eastern regions of the country. In the core
, Z3 F8 d# E; {& X5 Z" renergy producing western provinces, the combination of very high in-migration,
5 f. d6 Y5 _" \manageable affordability, and a shortage of inventory has driven record$ C7 W8 u+ r1 k; P
breaking price appreciations.
6 ?  A4 g8 ^7 r1 X$ ^; \+ s. d" x7 ~, \5 \7 |0 S% i4 s7 |
    Echoing the second quarter and supported by Alberta's rapidly expanding
+ ?  ^3 J. m! _: d) i/ ^economy, Calgary and Edmonton led the charge of Canadian cities with the' p3 k* m0 b2 j- k
largest house price appreciation in all housing types surveyed.2 |+ J! K$ v0 B8 v" L

  r! x" B5 i8 H" E/ ^    In Ottawa and Toronto, growth remained steady, supported by solid# b- _1 d+ q2 q) d
economic fundamentals, an increase in available inventory and strong consumer
/ i; P+ |- S7 S, kconfidence. While the pace of price appreciation in Ontario leveled off
" n/ B2 t6 C+ r0 T) I! E; ^( s3 Hslightly, the province's real estate market remains poised for modest growth., a/ c/ d6 z3 k  \' O9 n; [& N9 F2 `
In Atlantic Canada, new housing and condominium construction offered buyers
# R0 M; \' u1 O1 \6 W4 O0 @0 p: }( wgreater selection at more competitive prices, resulting in a slower rate of
7 k# d% @. K3 C' R% F, T7 hprice appreciation when compared with 2005.
, I  p9 D; o% m- W, P7 |
- q5 y) W8 ?8 {1 @( x% G  C0 v5 R5 W7 D    While the pace of growth in Canada has slowed, the domestic housing
1 f( M8 W; F7 @market is expected to outperform the American market. The economic and
6 f5 |7 E$ z1 e% Zfinancial fundamentals driving the residential real estate sector in Canada0 i7 |7 Y  r; i4 b
are markedly different than those found in the United States., \* i# v: K: R1 k
! d1 |) U% W/ S3 F* X
    Added Soper: "Canada's housing market is likely to outperform the, N; ~7 p: d' ?3 ^  f
American market through 2007. A number of factors are working in Canada's
8 N, s6 h; |/ V5 p& ?( wfavour, including healthy personal and governmental debt levels, the
8 u" J1 k1 [" M1 U3 c0 mrelatively modest rise in interest rates in our country, and general' \# m& Y* g3 E2 y5 C: {. D
affordability in our major cities. In addition, Americans are now seeing the+ O7 `" ^5 z( O& ?# x! C
downside of a tax system that encourages maximum homeowner leverage, and
3 W( _+ c$ y* N3 e' S) _aggressive financial products such as zero- and negative-amortization
% V0 ^. t, B; ^, B* ?9 b, Gmortgages that work only in a high price growth environment."8 Q' l( u- d9 j( l
9 ]3 H5 J' C' [9 P# |: {- t
    <<
+ Z2 @5 h. A0 X                             REGIONAL SUMMARIES
9 ~% ?6 b/ P6 ]7 c6 M. j* `    >>8 _; l# g9 c" y; R0 H+ h

- ?7 c" J. L2 }3 h$ _5 v    Balanced conditions continued to characterize the housing market in' k5 I2 F% W1 I
Halifax, as significantly higher inventory levels helped to moderate the rate& Y$ w" ~% x9 ~2 B
of price appreciation. Buyers were increasingly choosy, taking more time4 W9 o7 i# [* Z3 p
looking for newer, low-maintenance properties that were not in need of
* L, k1 \: m$ p9 p9 M7 t! V0 crenovations.4 I0 h6 R; P6 `4 C  d
$ G7 S' }5 {$ {; b: I( X
    The housing market in Moncton remained healthy and strong as a slight
/ ]+ T  Z' Q( f/ r5 o! [# i' }' lincrease in inventory helped to moderate the rate of price appreciation
$ l' O+ ^: ]6 w- o, W7 f" |compared to the same period in 2005. Activity was brisk throughout August and
# o8 |$ ]; V7 }" n5 o2 m% nSeptember and is expected to remain this way through the fourth quarter.+ c+ f6 T0 E5 C4 _" {, Y$ D
  h$ R& x0 O: t2 d0 j
    The housing market in Saint John underwent its traditional summer
( A% c0 e! a  e6 F8 {& Hslowdown in the third quarter, with activity picking up towards the end of the
  i! P8 n. A4 {) |quarter. The local economy continued to thrive, as construction on a new* q& x2 b0 n& Y# Y3 C
600,000 square-foot shopping area has begun, bringing several new box stores, q' c- r2 O/ l1 p% x* q
to the area. Buyers have begun seeking less expensive fixtures for their homes' i, [) v4 g5 N. i1 H
and are instead opting for more affordable housing options.
& U8 p% ?2 T3 G7 E0 V$ u3 q
% e4 P' B7 M8 m# x$ O4 T    In Charlottetown, the housing market started to move towards balanced2 \- u6 ?3 Q- C4 J4 n  J
conditions, as some sellers had to begin to lower the asking prices on their% }: P3 U" H' ~9 u
homes to make them more competitive. Activity from out-of-town and US buyers- G7 F8 x' \6 |5 \% }0 ~9 w# h
was down slightly compared to 2005, likely attributable to the strong Canadian
# E6 F* p/ P! N9 T/ odollar. Inventory levels began to creep up in the third quarter, providing/ X$ h4 y  T7 z( F$ _( Q
buyers with more options when looking for a home.
: r/ S1 t9 e. w' R' z; ?
! i5 r+ m4 c; Q/ X) b0 Z* P! J3 j    Activity in St. John's slowed slightly in the third quarter, particularly5 i/ E% b' C' z( g
among higher-priced properties, where there was a slight over-supply of homes2 r1 L% y: w; }- u$ |
priced over $200,000. Listing periods have increased when compared with 2005,0 s% y8 n2 o3 G  k( W1 v" g
as some of the pent-up demand that had characterized the market over the last
2 q6 j% a& c2 I; x. Kfew years has been satisfied, resulting in more normal, balanced conditions.
7 R& T9 a: M3 g- ]: \$ H( M# ^) |# E: p8 Q$ i
    Montreal's housing market recorded modest increases in average house
9 _) g8 b% \5 `1 g% rprices, due to a slight seasonal slowdown in the third quarter as inventory
- l$ a- P8 Y# o' [# }levels rose. Part of this can be attributed to the fact that many renting$ g  X+ @+ x1 m' S" j" \5 U/ c
first-time buyers were motivated to close on the purchase of a home by July 1,
8 C; x  s  [+ Y1 w- O% Vwhen rental leases expire in Quebec. Once this date has passed some of the" i$ M' I: l8 u
pressure is taken off the market, allowing buyers to visit more homes before
  B  l% p: D( r7 \making a purchase.+ i  n2 e# N* t3 ^! m
! d9 d) ?" r& I) d6 g5 v
    Ottawa held its position as one of the country's most stable housing
( m" w  n! i6 x$ G0 k% l  ]1 `markets in the third quarter, reinforced by a vibrant local economy and strong
8 ~3 l: N+ H2 ~confidence, resulting in modest increases in average house prices. The city4 M+ u) _3 K: y% d0 X% c
centre remained a bright spot in Ottawa, with homes in this area attracting
) G& X" R4 F( `! {% m. O$ {8 P% Pattention due to their convenient location and proximity to downtown/ N; R* l0 ]% p& L
amenities.% d7 k: T7 o: G0 T# L5 W
. B9 R" Q* c2 C3 k  q% x4 j4 i) W
    The housing market in Toronto sustained healthy activity levels
2 c* F. K! S4 d! U# w2 z& w9 ?throughout the third quarter, as a strong economy helped to maintain demand# t' B8 v& d: Z# X
across the city, causing average house prices to rise moderately. Toronto has/ m+ M1 S0 {; m& D
continued to experience modest growth in average house prices, and has been
4 b- ?- G* W  k, a$ f9 }driven primarily by purchasers who are buying homes as their principle
2 ?" f2 u! W& A% L% c6 Tresidence, rather than for investment.
9 ^' E: Z- [3 Z( Y9 Q1 f* p6 `8 e2 ?$ n' t7 f- Z( H
    The vibrant Winnipeg housing market continued to show its strength as
$ g- O2 l+ t" bhouse prices rose during the third quarter. The booming local economy resulted% ?) q3 q9 N. Z) B2 P2 x* s+ g
in a historically low unemployment rate, helping to bolster consumer
8 u5 y8 ]6 v) Y- A6 ~( mconfidence and Winnipeg's ranking as the city with the lowest capitalization
5 H' \% d" m, g$ @( k- m; erate among the country's larger cities - helped to encourage buyers to enter
- |& j3 _2 v+ Vthe market.
1 {* \+ L8 h( s
5 N$ {( @( j  }; R0 R0 x    In Regina, the market experienced a slight seasonal slowdown through8 [. ^2 D9 V6 N/ r8 Q$ f
July, as there were fewer purchasers in the market due to summer vacations. In: K+ `, N6 ?$ G5 D+ s; ^1 Z: X9 Q8 e
August, activity resumed to the busy pace previously seen in the spring8 L3 b/ N8 t* E$ U3 Z/ p0 R' o) B' Z0 z
months, as the influx of purchasers made it more difficult to find a home due1 l6 }" S6 u. H" n0 _
to the shortage of available inventory.4 G$ t! {2 }7 Q' T( `% e
( d$ z; y5 H+ n( \/ K1 ?: ~
    Activity in Saskatoon remained brisk as the market maintained its7 b+ @9 p: V* w
momentum from the busy spring sales period. The economy in Saskatoon remains1 p; Z* X- R; [# H
vibrant, as employment opportunities are abundant with many businesses
! w0 N4 e4 c" c3 Wstruggling to make hires and having to recruit outside the province.# _. a6 D9 J! z! B$ s2 Y

2 k  p/ T' e' d# M- e4 j    Calgary's housing market recorded blazing average house price increases
: L* v$ n* h* D. t/ H' E# sin the third quarter, in all surveyed categories. The burgeoning economy, low. z# q  R% B7 U! y" b5 x
unemployment rates and low inventory levels remained the leading factors that0 m5 p. @9 t, B6 J# [# w3 T, z
pressured Calgary's house prices upwards. However, regardless of the soaring0 K; X7 [, s" ~# F$ v4 G1 V
prices that characterized the market - even during the typically slower summer( [3 `/ Y1 T1 W+ u3 r3 Z
season - it is expected that activity will become slightly more balanced, as
2 u9 O/ u6 X' M; obuyers are becoming more reluctant to participate in the frenetic activity.
! ?8 f$ \; |( K' }) p( I
' d6 F# Z% W3 J
    Edmonton's booming local economy continued to thrive in the third quarter
. Y- T, i7 P5 ^) M' v' Q; qas activity in the oil sands north of the city continued to flourish. Edmonton. Z. B0 n6 g8 @
remained the hub of activity for those coming to work in the oil industry,
: S" i- H* G# y% B8 k& Umaintaining tight inventory levels across the city, resulting in prices
( Z: l* v- L$ b8 A! T- N- a, Oincreasing at record levels. However, as inventory levels continued to improve* a2 j8 f$ E. u& I6 ~* E
in the third quarter the rate of price appreciation should moderate slightly. Y0 H6 q* v: A" I
towards the end of 2006.
    + |. @9 s1 @9 F) r
4 l  I8 F* f/ M( f. T  X. b
While Vancouver has seen a slight reprieve from the severe shortage of
. w. L/ S$ a! `; r1 A/ X" tinventory that had previously characterized the market, supply is still unable
* \$ E1 A$ @+ t7 Y% Ato meet demand, driving house prices upwards. Vancouver has a very diverse
+ i1 r" m1 Y4 n8 Igroup of active buyers - from first-time home buyers to baby-boomers to! \5 _7 C) n3 n0 s2 J
foreign investors - all of whom fuel the demand for houses, placing added
: [. G! `, z. ?* e' Vpressure on tight inventory levels.7 x' U5 Y1 z% H* x( T: l
& }" A3 X7 @  h/ [. K5 k9 X) n
    Victoria's market is vibrant and supported by strong economic5 J0 v) z) \7 i% U- `
fundamentals, fuelled by a booming tech sector and a migration of young people9 q0 d1 S* w  ]
into the city that has continued to support the area's house price increases;
& F" d! Z1 y" \) Uwhile increased inventory levels have afforded buyers more time when searching
* i5 `3 p- z9 b" lfor a home, helping to normalize the market's pace.
4 s& F# D& E- ?" e7 L. G3 q3 R! O" d" V& \$ `
    <<6 G7 {: W! o4 }
      Survey of Canadian Average House Prices in the Third Quarter 2006
5 l, y' M7 }( j7 G( s; M2 h
' o! j  d' a! M    -------------------------------------------------------------------------8 }, S9 O7 b( |" p9 V
                 Detached Bungalows                Standard Two Storey! R% o  ~2 Y, b8 G7 P$ b6 U
    -------------------------------------------------------------------------
' s5 n) `( y9 w; r& f                     2006 Q3     2005 Q3    Bungalow     2006 Q3     2005 Q30 n- q+ {9 g) F" [0 ?& i+ y
    Market           Average     Average    % Change     Average     Average
% c7 V7 m1 G4 Z  t+ T$ o    -------------------------------------------------------------------------% E  t! V6 t+ H7 n# E
    Halifax          186,333     173,333        7.5%     198,667     199,000
: g2 k2 G% z& p. O    -------------------------------------------------------------------------! U) c- w# I. X+ o$ v+ v
    Charlottetown    145,000     141,000        2.8%     175,000     170,000
0 I/ n  _8 \0 W$ I% u* T6 t    -------------------------------------------------------------------------
& H3 B$ W: k( f) Q6 r8 b    Moncton          135,000     127,000        6.3%     129,000     123,000) s; f, c% [0 \; I; e
    -------------------------------------------------------------------------5 q  g3 C- _, i& x) L# c% G6 f( ~
    Saint John       141,200     142,900       -1.2%           -           -# t( P% I4 o2 s& R* f9 ]2 z7 A
    -------------------------------------------------------------------------
1 m4 h/ }  V9 x; @4 m3 l( x    St. John's       143,667     142,667        0.7%     200,667     202,333
3 q6 a8 \, L: _    -------------------------------------------------------------------------2 U! l) a8 e' C% t% {  v
    Atlantic         150,240     145,380        3.3%     175,833     173,5834 ^5 V" a! ]( u7 ?5 X
    -------------------------------------------------------------------------! X4 P  O* P. i4 E5 {4 r6 I
    Montreal         213,691     203,500        5.0%     321,141     316,185
2 f" y9 m! Y4 _& @    -------------------------------------------------------------------------
+ L; N, H5 a( H% I- B( A  Y  d    Ottawa           290,083     278,417        4.2%     285,667     273,2500 k/ E9 C- [1 s: g
    -------------------------------------------------------------------------% w5 K5 }6 l. w1 v7 Y$ Y5 H
    Toronto          373,368     355,882        4.9%     481,523     474,766
& t7 I3 I5 w$ S: Y: s2 @1 k8 f    -------------------------------------------------------------------------
! m6 T  {4 W0 M5 W; t1 h    Winnipeg         181,579     159,860       13.6%     202,337     180,707
0 N& f# J% C1 m    -------------------------------------------------------------------------
$ z6 i- Z5 b. y, k2 c1 p! D    Saskatchewan     170,667     156,083        9.3%     182,600     166,5000 N3 ^) d4 Q! H/ a/ p
    -------------------------------------------------------------------------; j! C1 `+ g1 C& y
    Calgary          395,067     252,411       56.5%     405,778     264,389
5 R$ X  E( |! c% t    -------------------------------------------------------------------------7 R$ C8 _7 m# U& A1 T) v
    Edmonton         286,857     194,857       47.2%     316,429     206,714; K' S6 P- l0 W0 W
    -------------------------------------------------------------------------
4 F; r( Q$ l. R5 H+ v2 L; m    Vancouver        704,250     601,000       17.2%     794,000     697,500; {' }- H6 V# {+ e
    -------------------------------------------------------------------------
; P0 ]- f. w: j1 {# N    Victoria         375,000     348,000        7.8%     403,000     391,000
- z" f( @! X/ R2 U! j    -------------------------------------------------------------------------
. p) d, Y' |6 h' k% m5 d6 l    National         300,365     258,202       16.3%     365,380     322,860
; `" B8 F  v. o0 Q# a4 K    -------------------------------------------------------------------------' l+ T+ _  i- S, p8 \
7 q9 P8 u( L5 l$ C+ h/ E
    -------------------------------------------------------------
2 V$ k/ M! S- l2 w) F                               Standard Condominium( E+ ^3 n  Y0 s+ N4 p
    -------------------------------------------------------------4 g9 [3 s9 ^% h3 R
                    2-Storey     2006 Q3     2005 Q3       Condo# U6 }4 }& W* h& E$ _6 W. v3 N) H7 V
    Market          % Change     Average     Average    % Change
; L" d9 E8 K1 P8 w    -------------------------------------------------------------, I& g6 X( v" _1 Q$ Z; y/ W
    Halifax            -0.2%     142,000     103,000       37.9%, z, Z! d* o3 L$ M" e! A* X
    -------------------------------------------------------------3 d6 V+ C: t1 p. D
    Charlottetown       2.9%      98,000      98,000        0.0%
- ?' ~6 t5 m2 d3 {    -------------------------------------------------------------' j, |8 R+ `8 D: \8 ~
    Moncton             4.9%           -           -         N/A
1 [0 o6 z1 B7 N( F    -------------------------------------------------------------* G; Z0 f( ], t! @2 Y2 n
    Saint John           N/A           -           -         N/A' T, E$ J4 z) U& H. _
    -------------------------------------------------------------/ d9 ]; j& a+ a$ S, r0 O3 C* [: \
    St. John's         -0.8%     146,333     145,667        0.5%# Q+ J. u+ j3 t2 A4 \1 z" m  A
    -------------------------------------------------------------
! @/ o4 `) K$ q, }$ f7 \% g    Atlantic            1.3%     128,778     115,556       11.4%) }0 }( K. r  ^7 I. ]' Y$ c( y
    -------------------------------------------------------------
* m0 x- m& p% w5 t9 G, y$ J    Montreal            1.6%     193,190     188,016        2.8%6 `* O# N. g$ n0 `! o
    -------------------------------------------------------------9 N7 K0 w  f2 k" M0 P% u8 i
    Ottawa              4.5%     181,083     172,250        5.1%& m: [: @7 a; w2 H8 B" x
    -------------------------------------------------------------
3 Y0 ?8 c; f* e/ @- \' ^- O" M    Toronto             1.4%     252,088     242,918        3.8%
8 K( h+ j' K9 X. a0 u    -------------------------------------------------------------
* z1 N  }4 R: b2 C; @    Winnipeg           12.0%     105,648      96,008       10.0%( j- W5 |( @, p" o: r( n, h
    -------------------------------------------------------------, ?& R, g) y1 P. {+ r
    Saskatchewan        9.7%     106,250     101,000        5.2%. T: F" A; G, }* Y8 g# M: N
    -------------------------------------------------------------2 \% ]4 \4 M9 k: }6 D8 @  Y
    Calgary            53.5%     245,844     153,867       59.8%
: U6 ~% F: D7 m, I. w: _    -------------------------------------------------------------
. ?6 y8 B  n- o: \    Edmonton           53.1%     200,433     131,500       52.4%
; j  d+ j4 p1 v& |; J: j    -------------------------------------------------------------2 h9 i, t$ m1 \! a8 }" m( F' P
    Vancouver          13.8%     366,250     323,250       13.3%3 O+ |( G, r, o/ v/ M; Y& o  g
    -------------------------------------------------------------
, F8 P! I0 `( h2 J+ Q/ L6 V    Victoria            3.1%     229,000     220,000        4.1%
3 F2 w5 f; q0 ]! c    -------------------------------------------------------------
. {7 x- |+ E9 i    National           13.2%     211,562     185,296       14.2%
; `' H4 l( ^" o& H# ]    -------------------------------------------------------------
0 Y$ D4 {9 G4 j) O    >>
- T! u7 G- @1 c( k; Z2 C
- l+ J4 u+ I7 N) Y) h    Average house prices are based on an average of all sub-markets examined$ n' Q' c( t# N3 i- n7 s1 Y
in the area, except for the smaller markets of Charlottetown, Moncton, Saint
! W& d6 I/ u1 P& b! E+ }John and Victoria.3 m5 y* n- \8 }. ~! @8 \6 f
' t8 y! R6 r  `/ w$ U3 X
    The Royal LePage Survey of Canadian House Prices is the largest, most7 F5 ]! m, s2 ?' `8 ~
comprehensive study of its kind in Canada, with information on seven types of
# P) }8 p3 v" V7 j4 Y, vhousing in over 250 neighbourhoods from coast to coast. This release5 o( G% o4 j+ ?& r+ W) Z7 D# Z
references an abbreviated version of the survey, which highlights house price4 R  W2 C  B8 {0 L
trends for the three most common types of housing in Canada in 80 communities  k. M' R0 e; c. }1 f
across the country. A complete database of past and present surveys is+ U3 d# f! g# G4 z5 F5 {
available on the Royal LePage Web site at www.royallepage.ca, and current" Z- A# h. z. g. b
figures will be updated following the end of the third quarter. A printable; |; r: f, c  e2 }. f1 Q
version of the third quarter 2006 survey will be available online on
2 h9 t# s6 Z5 X% N% pNovember 15, 2006., v: e' K- M+ S( N2 N
    Housing values in the Royal LePage Survey are Royal LePage opinions of
6 s" f0 ?! c' o9 Z/ n4 wfair market value in each location, based on local data and market knowledge
7 J1 v- y" \) \7 G, Mprovided by Royal LePage residential real estate experts. Historical data is
; b7 @, Q( F) B3 Bavailable for some areas back to the early 1970s.
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