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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
5 g1 O' ~1 s3 q, y6 h  p8 T4 b8 z, V7 B! T8 X  |
- Country's market poised to show growth throughout 2006 -
# L' i9 S9 s$ S+ M% \  l. \% W  X% `4 z2 y* \( t
    TORONTO, Sept. 28 /CNW/ - For most of Canada, the housing market
0 f$ w+ U/ \( d! B9 `6 hexhibited moderate price increases and stable unit sales during the third
9 k+ v5 a& L7 a  q& iquarter. Wide regional variances continued to be the dominant characteristic, z* d: l: x" t- G% @( b
in the market, exemplified by frenzied levels of activity and double digit
- b. D9 ~7 |4 P; G6 Q  Sprice gains observed in the energy and commodity rich Western provinces, and
  z( q& ^6 Y; H' S  o) cmore reasonable sales volumes and moderate price appreciation in Ontario,
' H! k- j" [. A, t" ~' _8 vQuebec and Atlantic Canada, according to a report released today by Royal
9 |6 E% I( H# M2 r; B- b2 RLePage Real Estate Services.$ h9 Y' X6 T7 A! U& H: f

% W2 t8 `# K4 _' b4 ~4 I2 a, x    Nationally, market trends established through the first three quarters% r; ?" C. d& g2 O! y% T# p4 ]
are forecast to continue for the remainder of the year. Robust economic) y0 y9 U7 Z4 n+ }
conditions, low unemployment rates, modestly growing salaries and wages, and# c8 [' v" c, r( i# n( Z% l
sound consumer confidence contributed to the overall strength of the4 _  S; ]  K5 G. c# \- L# J
residential real estate sector.
, i0 `# |2 M- ]7 u
4 G* j! X& P. R  v2 G$ m    Of the housing types surveyed, the highest average price appreciation) A% s# q5 H' X
occurred in detached bungalows, which rose to $300,365 (+16.3%)
/ @; [' _( D7 M; P8 g; oyear-over-year, followed by standard condominiums, which rose to $211,562% j% n: X: o0 s6 G7 h7 t0 o) T
(+14.2%), and standard two-storey properties, which increased to $365,380
. `  F- ?8 O+ U. [(+13.2%).
. r( z" B9 B9 O7 w2 ?! p1 z& M' K6 s$ c8 G- z
    "Canada's sturdy housing market continued to demonstrate steady growth
# g$ E* K! S- m2 |during the third quarter. For all but the west, we have moved on from the  H' K( l# x7 G( ?. l7 Y/ s/ S
frenzied expansion that characterized the first half of this decade, and are+ r/ }- O" ^% N: r' c) R
poised to show continued growth at a more moderate pace," said Phil Soper,
: _+ n) I9 V) r  Ypresident and chief executive officer, Royal LePage Real Estate Services.2 \) N8 {$ \5 t7 g) }! `+ M( W8 k+ L
"Gone is the sellers' market that we have lived with for some years. We
! V  U) L' w$ n3 A2 ^% }# fwelcome the more reliable conditions that are characteristic of a healthy
6 G/ c; z( a4 sbalanced market."
2 v* V" m6 u. P( Z0 I% t+ n- E& a* ]
    Despite the double-digit rise in average national house prices,1 G+ i7 x' D& C# Z; e. V4 m6 {/ E
considerable regional variances were exhibited again this quarter. The shift
! e+ K/ e: P0 {5 M7 X& `# G* |to balanced market conditions, which began in late 2005, has continued
3 d. y: l& }0 F. X& \; q1 jthroughout most of the Central and Eastern regions of the country. In the core
' Z+ T5 r6 c, ?( v! Renergy producing western provinces, the combination of very high in-migration,
3 W, E0 T  X5 f/ V  j9 fmanageable affordability, and a shortage of inventory has driven record
( B* W- @. T7 z  ]# _6 _# sbreaking price appreciations.7 t& E9 o8 A/ {8 j

( |( l! `8 J) S- t, R    Echoing the second quarter and supported by Alberta's rapidly expanding
, F  X3 u% }  v9 s# _( L6 [economy, Calgary and Edmonton led the charge of Canadian cities with the
' r2 A- U  U( q9 V" t$ \/ Jlargest house price appreciation in all housing types surveyed.# I8 P  [9 m- V+ V
: K. f/ L9 E( x6 p& |$ h. x
    In Ottawa and Toronto, growth remained steady, supported by solid) ?: [* Z6 z) n" {
economic fundamentals, an increase in available inventory and strong consumer
( A  P) O2 r4 u7 Fconfidence. While the pace of price appreciation in Ontario leveled off2 G% U7 q2 c$ }, s
slightly, the province's real estate market remains poised for modest growth." N7 i' y& E4 c
In Atlantic Canada, new housing and condominium construction offered buyers
; X0 g; Z- C% D) N. Bgreater selection at more competitive prices, resulting in a slower rate of/ G6 B1 @% t: t7 Y
price appreciation when compared with 2005.) r; r% c! X" `0 P* @5 h9 S
* J9 ^4 m0 ^, }4 a
    While the pace of growth in Canada has slowed, the domestic housing/ O, Y* a9 Q& L, R! m
market is expected to outperform the American market. The economic and5 u4 r' h, Q+ h7 t8 M& v8 k% e! Z
financial fundamentals driving the residential real estate sector in Canada/ Q! ^% m% R1 K3 |' ?: |. I9 V% Z
are markedly different than those found in the United States.* E/ z: }9 z- ?- g* |* `

% `' f* C& s2 D6 c" n    Added Soper: "Canada's housing market is likely to outperform the
1 h! }4 D0 M. S  o. C# CAmerican market through 2007. A number of factors are working in Canada's$ g4 g* @' u7 v
favour, including healthy personal and governmental debt levels, the0 I, u2 {& y- n- r' F% `
relatively modest rise in interest rates in our country, and general
0 H% L3 |& r) T: N3 ?affordability in our major cities. In addition, Americans are now seeing the
- y1 X  m) u1 o% Z6 R% Idownside of a tax system that encourages maximum homeowner leverage, and$ a4 L3 _8 @: u
aggressive financial products such as zero- and negative-amortization+ E, n$ B7 D( R* ~- R* [
mortgages that work only in a high price growth environment."/ X7 N# e9 |8 K& }5 _

: A( Y) y, ?  h8 p+ ?    <<
) r0 M) A' Y- a' ?                             REGIONAL SUMMARIES; I7 y& X# V# i% w1 k' B2 B5 [
    >>
& Z2 H7 K( R* v% j# |5 X& Q$ b7 E' ]
    Balanced conditions continued to characterize the housing market in( @# r+ X% X: L( g1 x' Y: p1 b# g
Halifax, as significantly higher inventory levels helped to moderate the rate' z3 b) O# f. W4 x/ {0 W- A
of price appreciation. Buyers were increasingly choosy, taking more time' Q% x5 e( Q% E( R2 ?
looking for newer, low-maintenance properties that were not in need of
" f( {4 y0 A2 b% Y6 J# Y/ B3 Drenovations.
: S( \8 N# k8 [7 H
- r: `* P: e0 k( E    The housing market in Moncton remained healthy and strong as a slight0 a" s% b7 v3 C: z
increase in inventory helped to moderate the rate of price appreciation0 t6 P) M9 @6 N. C; ^* _
compared to the same period in 2005. Activity was brisk throughout August and
* p" [( n9 j3 P& ]' r) SSeptember and is expected to remain this way through the fourth quarter.2 W3 ^+ M. X* q: x0 x

% r1 Q8 E) _( F% h  I    The housing market in Saint John underwent its traditional summer5 n# U; h2 |7 |1 i6 h5 [8 c
slowdown in the third quarter, with activity picking up towards the end of the
# o* ^5 B6 s& O; j+ h7 L, Qquarter. The local economy continued to thrive, as construction on a new+ }) @# g2 c0 p2 q0 W
600,000 square-foot shopping area has begun, bringing several new box stores) }3 P& I: w  {9 _; G1 Z3 m
to the area. Buyers have begun seeking less expensive fixtures for their homes
9 _% S: |4 b9 X) land are instead opting for more affordable housing options.
% |! N3 G, k# T& H! B$ y) @) F6 \) i. N- M9 ~0 Y5 E& |
    In Charlottetown, the housing market started to move towards balanced: Z8 d' n7 @5 n3 J5 A4 ^
conditions, as some sellers had to begin to lower the asking prices on their
) k" h7 O) _, H$ Jhomes to make them more competitive. Activity from out-of-town and US buyers6 T5 U8 v9 k8 P* L. n9 ?. k/ ^" C
was down slightly compared to 2005, likely attributable to the strong Canadian" M1 l, {* {/ t% }; L! T0 p
dollar. Inventory levels began to creep up in the third quarter, providing% H0 a$ t0 ?9 A  l- j. R+ n
buyers with more options when looking for a home.
& i5 O' ]1 q* L  q9 f7 Y3 m: P$ ^  @& W, ~; O
    Activity in St. John's slowed slightly in the third quarter, particularly. r; q  W/ E) y- w% x* A
among higher-priced properties, where there was a slight over-supply of homes
) A1 Z; v! ^! tpriced over $200,000. Listing periods have increased when compared with 2005,4 d7 N; B" u7 Q* M0 \' t- T
as some of the pent-up demand that had characterized the market over the last" w/ S6 C1 Q% r7 ^+ K
few years has been satisfied, resulting in more normal, balanced conditions.
7 r4 N8 b. D# M3 X- a9 `
6 p4 m/ n: L% V+ Z5 ?8 t+ b    Montreal's housing market recorded modest increases in average house
0 y% h- ]. r- C5 c0 h& ^9 Z4 iprices, due to a slight seasonal slowdown in the third quarter as inventory
6 U* s7 ]% [* T1 r2 Q) k/ V$ glevels rose. Part of this can be attributed to the fact that many renting+ O0 p  ?7 d3 W) h$ p9 x( }
first-time buyers were motivated to close on the purchase of a home by July 1,, t- L" K" L2 c) N& ~3 U) u
when rental leases expire in Quebec. Once this date has passed some of the- H7 p& L$ n7 I# D( L) [7 m
pressure is taken off the market, allowing buyers to visit more homes before( g# I/ ?8 B* [9 m, y( d
making a purchase.
6 v+ k" b7 {: Z( X6 l7 C$ {( F1 z5 K4 E; I* ^+ d
    Ottawa held its position as one of the country's most stable housing# a& B4 m+ W3 |) |2 ~4 U! E
markets in the third quarter, reinforced by a vibrant local economy and strong8 `/ c) T; p3 k  l& U$ J
confidence, resulting in modest increases in average house prices. The city; g7 e3 i% q+ k- E( A
centre remained a bright spot in Ottawa, with homes in this area attracting
" _& F$ V! k) Z8 l3 \8 G: wattention due to their convenient location and proximity to downtown
2 L1 u  R" `* b. f, m- y0 Samenities.: x2 V4 D3 S+ o, C& a

4 w: W* T0 Y* _: \& N- ~    The housing market in Toronto sustained healthy activity levels+ }6 T: q6 d$ }0 S: x
throughout the third quarter, as a strong economy helped to maintain demand
+ v; t* v& ]. s/ q$ o/ E% \! Uacross the city, causing average house prices to rise moderately. Toronto has
) h7 C6 s, h2 f! X3 H3 }+ @continued to experience modest growth in average house prices, and has been
, v  f" m( M6 w) j+ H1 E  l" _driven primarily by purchasers who are buying homes as their principle% I( e" j2 \" s. Y8 H
residence, rather than for investment.8 Z0 U2 g6 Q2 d0 ?2 \1 J% ]# T; s

7 X% p, x% t6 @# L+ i6 L    The vibrant Winnipeg housing market continued to show its strength as
$ u) t. q' x5 l. P5 m4 H+ |house prices rose during the third quarter. The booming local economy resulted% N% K; b' h. v3 P4 Y+ k& Q
in a historically low unemployment rate, helping to bolster consumer
* Y5 W& S, Y; v6 S7 Z2 X! Sconfidence and Winnipeg's ranking as the city with the lowest capitalization5 r3 O0 [2 S8 z/ V9 T& F; v1 m
rate among the country's larger cities - helped to encourage buyers to enter
/ f/ `8 k4 G: g) Y9 E; Cthe market.
% G; I/ ^+ g( G5 l& ^/ a; M6 u+ P' O, g* B8 @3 x. B8 d- @+ h
    In Regina, the market experienced a slight seasonal slowdown through" t( o2 C$ d8 I8 I( I  o& Q
July, as there were fewer purchasers in the market due to summer vacations. In7 i- ~, J6 {3 ]# c. a
August, activity resumed to the busy pace previously seen in the spring
$ s6 E7 N, E/ m& W+ c+ \, Y1 Hmonths, as the influx of purchasers made it more difficult to find a home due- a, W5 M& N2 S& L
to the shortage of available inventory.
7 e9 L3 v0 ]- L/ G4 u* B! z8 S. Z6 z3 ]5 O* ]0 Z
    Activity in Saskatoon remained brisk as the market maintained its
. l8 S' O0 I2 X$ V1 Smomentum from the busy spring sales period. The economy in Saskatoon remains
7 @6 n1 B; x, Q* W! U& ]1 p6 v* G8 nvibrant, as employment opportunities are abundant with many businesses
4 {9 E3 t- d. e" Y- `; z1 g8 {struggling to make hires and having to recruit outside the province.
6 p% l0 d- G5 b  \" j. C5 f# U$ P0 g
    Calgary's housing market recorded blazing average house price increases; O8 ~# l0 i. I2 o+ {, B3 w5 d
in the third quarter, in all surveyed categories. The burgeoning economy, low
% ^6 U; U+ x2 ]6 X8 ?( z9 hunemployment rates and low inventory levels remained the leading factors that& m. a  a/ X$ s/ }. K7 n7 F  i
pressured Calgary's house prices upwards. However, regardless of the soaring& G( |+ }! \5 d, g' F  p. w" s
prices that characterized the market - even during the typically slower summer( C1 q2 @( y" f) \9 P; U
season - it is expected that activity will become slightly more balanced, as
  J( F8 x/ f5 R% _! C& ~; s  ubuyers are becoming more reluctant to participate in the frenetic activity.
4 b$ |, ?9 i9 ~% T' k; m, X
! l3 L. X5 e0 b4 B
    Edmonton's booming local economy continued to thrive in the third quarter
# G- N8 C- ]$ ^( Gas activity in the oil sands north of the city continued to flourish. Edmonton
+ E8 x. i0 Z9 E9 @& S) `remained the hub of activity for those coming to work in the oil industry,( ?# q$ Q+ e4 q  x& @
maintaining tight inventory levels across the city, resulting in prices7 `# w' S0 r& w# z3 x; S2 p
increasing at record levels. However, as inventory levels continued to improve0 v* _  D7 U" v/ _7 l8 o
in the third quarter the rate of price appreciation should moderate slightly# j0 V# @8 A/ n5 n/ y- N
towards the end of 2006.
   
1 U- H  r1 r: R- G9 e  d/ k7 |. v. ?7 e
While Vancouver has seen a slight reprieve from the severe shortage of  [7 [" Q! a: S
inventory that had previously characterized the market, supply is still unable
! ~/ ^& \* j* ?5 i& u; Mto meet demand, driving house prices upwards. Vancouver has a very diverse
0 d1 Q2 T3 s( N# R) Ggroup of active buyers - from first-time home buyers to baby-boomers to
# _7 d( k  ~: t7 L  ]% G4 M" Mforeign investors - all of whom fuel the demand for houses, placing added
& C. [! B$ @/ C. E( Gpressure on tight inventory levels.
2 A5 @( G& d" w: o, F1 x- J" O) _% y5 M! q5 D! P% C9 Q
    Victoria's market is vibrant and supported by strong economic
+ e6 t+ L! Z: k. w! E) a$ ]. ]fundamentals, fuelled by a booming tech sector and a migration of young people
2 a! ?/ Z7 ]6 Iinto the city that has continued to support the area's house price increases;$ T: F3 @* h9 m$ K; P
while increased inventory levels have afforded buyers more time when searching, z4 _* Q+ H: Q+ W& c, b% y
for a home, helping to normalize the market's pace.0 p' `7 @9 a8 b# z

& ?* E0 S2 @4 _2 X7 G/ I* p    <<9 z' S( m1 t! g+ N* F% G) |
      Survey of Canadian Average House Prices in the Third Quarter 20062 ]' z# j& b# V5 X& J4 B# J4 l
: K# I6 S- ~# [, G' J( S
    -------------------------------------------------------------------------
8 v) p2 R# e. t9 X5 p                 Detached Bungalows                Standard Two Storey
! v/ a' y4 J. W4 S* g! c- H8 u" M    -------------------------------------------------------------------------
9 r# Z. R; w& f* I! F                     2006 Q3     2005 Q3    Bungalow     2006 Q3     2005 Q3/ J/ [7 L* [& ^5 \; O0 P
    Market           Average     Average    % Change     Average     Average& y/ c' g  O% b0 ~9 l5 C8 W
    -------------------------------------------------------------------------& M  [" K" b% `3 U. a; U
    Halifax          186,333     173,333        7.5%     198,667     199,000" g  ]; b2 w7 {. f1 m) f
    -------------------------------------------------------------------------
: J, S1 J' m0 [4 y+ T* D    Charlottetown    145,000     141,000        2.8%     175,000     170,000
. V* R5 U( S$ W; n    -------------------------------------------------------------------------
% p! e+ C* ~& f' Z. }$ |- c9 d    Moncton          135,000     127,000        6.3%     129,000     123,0004 O3 h6 Z& p3 S
    -------------------------------------------------------------------------
( F3 f+ R, I2 G5 s! Z0 J# ~5 I    Saint John       141,200     142,900       -1.2%           -           -
4 U1 @& i+ `0 M! u1 _: s    -------------------------------------------------------------------------: Y! a6 k! p3 B9 Y2 |
    St. John's       143,667     142,667        0.7%     200,667     202,3332 M! z. B; e4 _% k2 R
    -------------------------------------------------------------------------
( u! k) j9 d" `$ _    Atlantic         150,240     145,380        3.3%     175,833     173,583
% K" D+ P0 }7 J; ?/ l! p9 \    -------------------------------------------------------------------------
. x% I) Y4 X% q' p, D    Montreal         213,691     203,500        5.0%     321,141     316,1851 _- Z2 [" n+ J& _: Z
    -------------------------------------------------------------------------  X4 @6 O, |. ~# T$ _2 s1 U
    Ottawa           290,083     278,417        4.2%     285,667     273,250
3 H8 o9 {( c4 b    -------------------------------------------------------------------------0 i2 ?% A+ m- C: ^7 A4 p
    Toronto          373,368     355,882        4.9%     481,523     474,766
3 S5 r+ o6 _* e$ n( r3 L8 i' c: u    -------------------------------------------------------------------------
) P+ z( g6 ]& ~& T. U$ r6 G3 J    Winnipeg         181,579     159,860       13.6%     202,337     180,7071 \8 n  X1 E% P) N% n. W  T
    -------------------------------------------------------------------------8 S6 t: a2 N1 s+ ?1 D" n
    Saskatchewan     170,667     156,083        9.3%     182,600     166,500
& K3 z& r7 {4 y6 @    -------------------------------------------------------------------------
  ?  J4 e% \5 X9 l6 y    Calgary          395,067     252,411       56.5%     405,778     264,389/ \: a# ]5 P+ t5 X0 y- E9 P
    -------------------------------------------------------------------------4 ?* S) ?5 J) J% N% v
    Edmonton         286,857     194,857       47.2%     316,429     206,714
5 E+ `7 ?  `# v( R/ |+ e' t4 R    -------------------------------------------------------------------------/ f# Z3 y/ i+ ~/ {/ R) u+ V$ G7 s
    Vancouver        704,250     601,000       17.2%     794,000     697,500
! C& i- F( }3 a8 `0 G, w: F$ O    -------------------------------------------------------------------------7 g, o) B6 H- V
    Victoria         375,000     348,000        7.8%     403,000     391,000
! V/ L' |, C8 _( l) W, X    -------------------------------------------------------------------------/ |! E( y4 j+ i2 t  g
    National         300,365     258,202       16.3%     365,380     322,860* W  w" S- L) a& v6 Z  o/ M
    -------------------------------------------------------------------------
8 Y8 T% a7 P6 N
! a* s# s- _3 j    -------------------------------------------------------------
" e  ?) I) A6 K7 ?, i0 z                               Standard Condominium
/ S+ ]! ^; u' o    -------------------------------------------------------------. ~: ~2 w! |2 Q, Z
                    2-Storey     2006 Q3     2005 Q3       Condo
* b9 Z5 P. u* A9 U7 A    Market          % Change     Average     Average    % Change
( e/ F! T' F0 ^. f: `    -------------------------------------------------------------
0 m  p# W& H" _4 B9 t    Halifax            -0.2%     142,000     103,000       37.9%' e- W, T6 I. H5 d) Z
    -------------------------------------------------------------# D0 v" Y. t+ {9 N4 ~5 P
    Charlottetown       2.9%      98,000      98,000        0.0%# L' l* j* V8 k6 A/ r4 d8 b
    -------------------------------------------------------------
7 u" E8 z% x2 I8 W, x; c    Moncton             4.9%           -           -         N/A5 _, N* H$ J  X
    -------------------------------------------------------------
" |( [" Q) i& d3 B    Saint John           N/A           -           -         N/A
& {# ~6 q# `2 D( V2 W2 ?    -------------------------------------------------------------
4 }# u, D, ^, i9 Y# I, \) w    St. John's         -0.8%     146,333     145,667        0.5%
+ }$ I6 k& Y; T* k6 K    -------------------------------------------------------------6 N8 u6 n! A' }
    Atlantic            1.3%     128,778     115,556       11.4%/ x# y4 P$ Z  L* q; X# ~
    -------------------------------------------------------------" n4 X3 X6 _; J. X7 ^+ k* ^0 M
    Montreal            1.6%     193,190     188,016        2.8%" {7 Z( L3 ^( `2 \5 i) j7 G# f
    -------------------------------------------------------------
- t  n# t3 a/ _3 D' I* c/ L5 w! @    Ottawa              4.5%     181,083     172,250        5.1%# |  t3 n8 T5 ?/ b! {! J
    -------------------------------------------------------------
: g2 A7 r+ p/ m) \1 Y    Toronto             1.4%     252,088     242,918        3.8%% o# |0 G. |' U% v$ [( Y; c
    -------------------------------------------------------------, l+ K" |( s' t! X- y/ w
    Winnipeg           12.0%     105,648      96,008       10.0%6 X3 [! i8 K: \
    -------------------------------------------------------------: L9 e+ e5 y2 ~  Q; e6 h' i
    Saskatchewan        9.7%     106,250     101,000        5.2%/ S; w' `9 o9 d' B
    -------------------------------------------------------------7 f5 W3 J5 w6 Q0 N4 U. O
    Calgary            53.5%     245,844     153,867       59.8%* O% C: c) F( B% L* v
    -------------------------------------------------------------
7 ]( V! @5 L0 c5 o0 Z5 @! u1 Y    Edmonton           53.1%     200,433     131,500       52.4%
" u. K5 B* ?4 t    -------------------------------------------------------------
+ ~6 w5 h% ]& G+ t    Vancouver          13.8%     366,250     323,250       13.3%
9 o  i# E* d9 Z    -------------------------------------------------------------8 [, B/ K% q8 P* a
    Victoria            3.1%     229,000     220,000        4.1%. c+ z, n/ ~. P3 H% I7 V/ t) V
    -------------------------------------------------------------- ]. t* l  D! M* }$ ^; z2 z3 B
    National           13.2%     211,562     185,296       14.2%
" _, Q; }* b4 ~$ ~' M    -------------------------------------------------------------
$ C7 ]" V& F4 r: d8 N    >>3 F- h0 O4 h# ~+ Z
2 x; \* g2 k) X) Z4 W
    Average house prices are based on an average of all sub-markets examined
7 F8 I- ]3 x7 P0 x) din the area, except for the smaller markets of Charlottetown, Moncton, Saint
% }* y; m: i* N5 _1 b) J/ @9 TJohn and Victoria.
: Z7 S; w1 |: Y6 ~
& V& c+ x: N/ t) T    The Royal LePage Survey of Canadian House Prices is the largest, most, y1 @  L* @1 n& ^  o5 R
comprehensive study of its kind in Canada, with information on seven types of' }9 a/ T# d$ Q" e) t/ L1 |# `
housing in over 250 neighbourhoods from coast to coast. This release
: k8 a/ E* Q( s5 Y0 |& T3 hreferences an abbreviated version of the survey, which highlights house price
+ k8 a' d! P! m( \) Z3 H( b% ~* _3 Wtrends for the three most common types of housing in Canada in 80 communities' [4 G5 z' M! b, K2 D$ C5 l
across the country. A complete database of past and present surveys is1 X, [6 x( C0 E, X6 @8 R
available on the Royal LePage Web site at www.royallepage.ca, and current% ?7 M: o" O. T+ s. K7 E
figures will be updated following the end of the third quarter. A printable
% m! P7 t( Q/ s* @version of the third quarter 2006 survey will be available online on9 ^- {6 a5 j2 M4 ~- s# c
November 15, 2006.* [8 j. F% h# X! ]3 r8 P2 R9 p
    Housing values in the Royal LePage Survey are Royal LePage opinions of
$ R/ D( q% ?# ]" Mfair market value in each location, based on local data and market knowledge8 f* l, ]! a4 j  ^: C( i7 n) N1 D
provided by Royal LePage residential real estate experts. Historical data is  D, z* ?  R/ _4 X, E8 a! f
available for some areas back to the early 1970s.
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