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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 [( p5 ^% D% v
3 o+ X/ s* z7 O3 M: ]" K- Country's market poised to show growth throughout 2006 -
; E5 _0 @' m* h  C8 v- {) _* e# L1 m/ J8 Y7 ^) [
    TORONTO, Sept. 28 /CNW/ - For most of Canada, the housing market% U$ G* D- J- G
exhibited moderate price increases and stable unit sales during the third/ Q4 S1 _6 W. y+ u& b
quarter. Wide regional variances continued to be the dominant characteristic( k9 E# y$ X: M4 Y
in the market, exemplified by frenzied levels of activity and double digit0 _/ O: T7 Z0 H6 z; N' S
price gains observed in the energy and commodity rich Western provinces, and( k0 W/ F+ s( z0 M1 ~9 }4 ^* a  E; a
more reasonable sales volumes and moderate price appreciation in Ontario,, q) a% T9 w3 ?
Quebec and Atlantic Canada, according to a report released today by Royal4 b% U9 _4 a; _" j! T8 ?) G
LePage Real Estate Services.( O" J9 u" |9 K5 f) p
7 Q/ }8 O& z8 P+ t/ x" Y
    Nationally, market trends established through the first three quarters4 M0 Q0 N: e; z: ^& I
are forecast to continue for the remainder of the year. Robust economic; n8 F$ j9 \$ l( t
conditions, low unemployment rates, modestly growing salaries and wages, and( B  `9 Y2 A6 Q) b
sound consumer confidence contributed to the overall strength of the
1 ?% F3 |- j0 P$ lresidential real estate sector.0 b3 Y# B6 E* T1 V
8 ]! s, s, v, E6 o- T
    Of the housing types surveyed, the highest average price appreciation/ P( u* `; N- }$ A$ b
occurred in detached bungalows, which rose to $300,365 (+16.3%)1 f  {# K9 E" c3 S* V; r- d( w
year-over-year, followed by standard condominiums, which rose to $211,562
+ K) A) c" z- g+ d+ G/ }(+14.2%), and standard two-storey properties, which increased to $365,380
2 X) G% K; B* g2 r) k(+13.2%).; J; a& P6 Q0 _& l/ c7 r4 v, [

( W6 o; k6 S4 s/ q) L* t. n" C; K    "Canada's sturdy housing market continued to demonstrate steady growth
6 d7 D, K7 I2 K% p- P* Iduring the third quarter. For all but the west, we have moved on from the
, f) c1 z- @- \6 F: T; p! R* o: sfrenzied expansion that characterized the first half of this decade, and are; q2 Z6 l8 i) E$ f& b, e' L1 }
poised to show continued growth at a more moderate pace," said Phil Soper,
% P8 o; |( X5 t# U0 e1 S7 Mpresident and chief executive officer, Royal LePage Real Estate Services.
2 X: l! a2 n: u5 G/ L"Gone is the sellers' market that we have lived with for some years. We2 g. C. K' x9 K
welcome the more reliable conditions that are characteristic of a healthy" r& J2 @; q. y: @3 B
balanced market."
6 r+ y) Q7 U% X6 ], C, v4 R' O3 ~9 D! g/ Z  ~, q1 z  L4 o) C8 M
    Despite the double-digit rise in average national house prices,0 Y% x  E6 _% g% p6 e) a0 A+ B
considerable regional variances were exhibited again this quarter. The shift
' H1 C& v  s9 P2 F: Kto balanced market conditions, which began in late 2005, has continued
! y: u1 u+ F8 xthroughout most of the Central and Eastern regions of the country. In the core
( k( L8 s/ n7 g2 O! w% Henergy producing western provinces, the combination of very high in-migration,% j* @9 G% ~/ T# J+ U
manageable affordability, and a shortage of inventory has driven record
/ o' m: v# k# `9 C" pbreaking price appreciations.
) z8 @6 Q- H+ D
  G" {6 V7 _9 f1 b" p0 E6 e4 J    Echoing the second quarter and supported by Alberta's rapidly expanding) d" S% N* V) `; }, J( G
economy, Calgary and Edmonton led the charge of Canadian cities with the' C8 I9 G0 d- H- `0 p) C) t
largest house price appreciation in all housing types surveyed.
) K1 N( H( M/ ?4 `! n/ h
5 u, [4 V. ^( Q; o  g! g3 ]( r9 W* D    In Ottawa and Toronto, growth remained steady, supported by solid
7 l2 T! y0 ?% f9 C" Xeconomic fundamentals, an increase in available inventory and strong consumer
; ~, C! H5 M4 i( C! Lconfidence. While the pace of price appreciation in Ontario leveled off
5 o6 n3 {- ]) ~% b) T( q8 M' islightly, the province's real estate market remains poised for modest growth.- y, t/ u' o' T7 s3 f: `
In Atlantic Canada, new housing and condominium construction offered buyers+ `+ U: p3 h6 v
greater selection at more competitive prices, resulting in a slower rate of  B* [* C9 n) y: F
price appreciation when compared with 2005.
: v4 D7 r) K  Z& J9 y1 q8 ?
' j$ A% A7 D( Z    While the pace of growth in Canada has slowed, the domestic housing
; R+ t4 h3 [! Y5 qmarket is expected to outperform the American market. The economic and0 ?( R8 k+ \# _$ r* O3 C4 l
financial fundamentals driving the residential real estate sector in Canada
) w+ x+ G, X9 W5 k- A. F+ X, Lare markedly different than those found in the United States.3 k; B, ?  E, {- ^" B8 L7 u8 I

4 l7 l1 g2 g+ `    Added Soper: "Canada's housing market is likely to outperform the
2 E) x% H7 M- T: R) N# EAmerican market through 2007. A number of factors are working in Canada's
! a, z$ f( g  l* lfavour, including healthy personal and governmental debt levels, the! @" W+ V7 p, Z; Y
relatively modest rise in interest rates in our country, and general6 [9 M8 O+ _# e8 ~9 [7 J9 C
affordability in our major cities. In addition, Americans are now seeing the
7 m0 Q0 U! O! K* [* \% o+ \downside of a tax system that encourages maximum homeowner leverage, and) e# G4 L  R* ?( k: H
aggressive financial products such as zero- and negative-amortization3 T! W5 `3 O# L' T0 m) n7 G
mortgages that work only in a high price growth environment.", S# C9 [; I8 B0 B  X% P

3 {/ ?& [+ g3 n    <<
5 M! Z* F  ]$ M: k( s  C, r* {; e                             REGIONAL SUMMARIES6 @, {1 e4 C# T! F/ \: T2 n9 b0 q
    >>4 C; d; G# {/ j$ n
$ c  A7 k2 l3 G2 e
    Balanced conditions continued to characterize the housing market in! N( u  \3 c2 h' j& S5 [$ m
Halifax, as significantly higher inventory levels helped to moderate the rate
8 z; [$ r8 f. c& Q/ Vof price appreciation. Buyers were increasingly choosy, taking more time
+ F1 G! W' K5 Y! T" q' Flooking for newer, low-maintenance properties that were not in need of, {/ r0 M2 W# o( h; n; ~; s
renovations.) d* `; E& h: i& b* b* c1 P

! n6 s% b7 j! F, l# a$ J/ D    The housing market in Moncton remained healthy and strong as a slight
% Z8 P& |' b6 e. m/ @increase in inventory helped to moderate the rate of price appreciation
8 h1 h1 l4 P" X! E) l0 icompared to the same period in 2005. Activity was brisk throughout August and) G1 n" t; D! l' Y: O& F  i2 c& M
September and is expected to remain this way through the fourth quarter." h. f6 z9 _6 J# F* V* z7 T

5 _2 w+ |9 {4 F! S: b; |    The housing market in Saint John underwent its traditional summer
8 w7 L% p: k- Y' d! K/ c3 I; Yslowdown in the third quarter, with activity picking up towards the end of the
5 r) _$ Z/ h! J! W9 v/ T2 ]quarter. The local economy continued to thrive, as construction on a new1 t4 N+ O! i. {
600,000 square-foot shopping area has begun, bringing several new box stores
' u" {' R0 J8 s8 A1 k: Yto the area. Buyers have begun seeking less expensive fixtures for their homes
. G% P: p* N, o0 b2 |' [$ Zand are instead opting for more affordable housing options.
5 y/ Y( p2 _8 X3 N2 b+ K4 ^& e1 B$ k: C: r
' Q  I0 Y+ \) |+ R% u) j    In Charlottetown, the housing market started to move towards balanced
4 {2 F+ j8 L* s( u0 mconditions, as some sellers had to begin to lower the asking prices on their4 K% Q# u9 `& q/ O4 a
homes to make them more competitive. Activity from out-of-town and US buyers
; g) [7 G; t# j+ I/ e* q& N" F' Awas down slightly compared to 2005, likely attributable to the strong Canadian
! L. A! s2 X) |, _dollar. Inventory levels began to creep up in the third quarter, providing
# c5 w) H( f! ~1 T0 F/ Ibuyers with more options when looking for a home.
% z" s* S# C( K5 y/ X
5 H# o- y' ]# \9 m' |, I$ Y    Activity in St. John's slowed slightly in the third quarter, particularly* H" s" V+ {9 s: j2 z, b
among higher-priced properties, where there was a slight over-supply of homes( G1 M- Z* ]: k! ~
priced over $200,000. Listing periods have increased when compared with 2005,0 Z& p) ~1 P+ u6 k; h) b
as some of the pent-up demand that had characterized the market over the last
$ V2 y" k. {1 A: b+ ]+ t. Ifew years has been satisfied, resulting in more normal, balanced conditions.& d3 }( U, }9 e, o1 g

& `! P$ B& }7 p/ g7 w    Montreal's housing market recorded modest increases in average house- Q+ K0 K4 D: G! t' w: e0 w9 O" l% @
prices, due to a slight seasonal slowdown in the third quarter as inventory5 u- O+ ~  l. _, Q' L& |+ K: H% W
levels rose. Part of this can be attributed to the fact that many renting
3 b' N. R- P. R# l9 m, X3 Dfirst-time buyers were motivated to close on the purchase of a home by July 1,
4 U& e. }4 @- Q5 V* P" z4 H' n: T. Pwhen rental leases expire in Quebec. Once this date has passed some of the) R5 B- Y& m/ I; h) B% ^% ?
pressure is taken off the market, allowing buyers to visit more homes before8 g% Y$ r! \8 R) \4 |" B
making a purchase.8 V% d! h# j% z

' a4 d+ t- p# g3 t9 p    Ottawa held its position as one of the country's most stable housing( }: O8 b# \0 {' V) O
markets in the third quarter, reinforced by a vibrant local economy and strong
  O2 ~* z+ f6 @$ x9 `! a  [. W" lconfidence, resulting in modest increases in average house prices. The city+ E6 i8 P0 D6 b5 Q
centre remained a bright spot in Ottawa, with homes in this area attracting
3 P* b8 q9 K3 U- W& S9 Y% L$ fattention due to their convenient location and proximity to downtown% H8 j8 A( d7 @7 B) h( L' T7 B
amenities.$ l' Z9 a6 z, J# O# A3 y
9 l& X* a/ f: Y, U. V, Q1 `
    The housing market in Toronto sustained healthy activity levels: t3 o, \4 p+ z; L+ w
throughout the third quarter, as a strong economy helped to maintain demand
# T) M& ^8 Z! x0 ^across the city, causing average house prices to rise moderately. Toronto has
  w! {% \' C" h7 l3 W% x: o2 Tcontinued to experience modest growth in average house prices, and has been
5 c; F  ^4 q( C# |driven primarily by purchasers who are buying homes as their principle0 q: s* k( q( {" x
residence, rather than for investment.
5 V1 t  R8 ]+ ^7 y! E+ o+ T) W
0 c$ x* H- P# b: U2 h4 c1 G2 `    The vibrant Winnipeg housing market continued to show its strength as
2 \2 o9 w( Z) jhouse prices rose during the third quarter. The booming local economy resulted
6 D" M1 b" N6 X. M. Qin a historically low unemployment rate, helping to bolster consumer
$ h$ h( Y8 `; Econfidence and Winnipeg's ranking as the city with the lowest capitalization
* B# V8 T1 i7 [+ _rate among the country's larger cities - helped to encourage buyers to enter
4 Z3 c1 ^% N' b6 nthe market.
$ Z( O2 @" n( \) Q7 e
4 O6 Y4 K4 e) p3 l9 Z* W) c    In Regina, the market experienced a slight seasonal slowdown through4 j, v. ^' ]! [
July, as there were fewer purchasers in the market due to summer vacations. In
( n9 F: w9 H- Q0 h" w" _August, activity resumed to the busy pace previously seen in the spring
1 [/ h' g" v* E; Jmonths, as the influx of purchasers made it more difficult to find a home due+ g. z% o7 u/ o& V
to the shortage of available inventory.. W* j+ }6 H1 c8 E' v
* Y3 Y$ l" ^! d9 F
    Activity in Saskatoon remained brisk as the market maintained its
7 g2 e! Z0 W+ l1 X, @* xmomentum from the busy spring sales period. The economy in Saskatoon remains4 l3 s7 G$ r4 R+ ?9 C
vibrant, as employment opportunities are abundant with many businesses+ X1 [- f* \1 {0 Z
struggling to make hires and having to recruit outside the province.
! v* F  D6 U  r
  x& {5 J* \: k" I! b    Calgary's housing market recorded blazing average house price increases
- e! U* l. k& t' ?$ u# xin the third quarter, in all surveyed categories. The burgeoning economy, low! M6 j8 P+ H, D+ }% D6 |+ K: r
unemployment rates and low inventory levels remained the leading factors that0 |& c& |" u, z& Z) ]; j, i! B
pressured Calgary's house prices upwards. However, regardless of the soaring
; o" y% P  a2 c5 `1 f) ?. d6 Oprices that characterized the market - even during the typically slower summer: b7 Z$ a( }9 P0 _5 j6 m
season - it is expected that activity will become slightly more balanced, as
3 i3 t- D' y0 Xbuyers are becoming more reluctant to participate in the frenetic activity.
; {' V; P* ~$ s+ U* Q! E% l2 @
3 |/ u! O) d6 g  R0 a$ z: g* g
    Edmonton's booming local economy continued to thrive in the third quarter
6 L. l6 \! k: Tas activity in the oil sands north of the city continued to flourish. Edmonton
- @4 X! Y7 I, a# [) nremained the hub of activity for those coming to work in the oil industry,- k% ?0 n$ r; S, R6 w
maintaining tight inventory levels across the city, resulting in prices0 r0 ~3 e" X  r  B
increasing at record levels. However, as inventory levels continued to improve
$ {! c+ b6 w! W, ^in the third quarter the rate of price appreciation should moderate slightly% g- E* b; h6 M# R% `" X& i
towards the end of 2006.
   
- H7 g" O6 T* d, T0 N7 K1 d; G+ v, Y0 j9 K* l( x' d. ]5 c
While Vancouver has seen a slight reprieve from the severe shortage of% c0 t" e* W( j" x, O& e2 X3 a
inventory that had previously characterized the market, supply is still unable
0 f* n; y  G5 q: \  nto meet demand, driving house prices upwards. Vancouver has a very diverse
  ]) y- R* J' Xgroup of active buyers - from first-time home buyers to baby-boomers to
& U9 `+ ~7 V6 a* o" dforeign investors - all of whom fuel the demand for houses, placing added
5 z( e  k* w% X: [  _* rpressure on tight inventory levels.6 c  y2 p: U+ U- w  A

+ L" O5 A: l: B1 T- a    Victoria's market is vibrant and supported by strong economic/ `; C) J7 G& l1 Y' t
fundamentals, fuelled by a booming tech sector and a migration of young people5 u) j- N1 z# D3 l) |, D5 L* z! Y
into the city that has continued to support the area's house price increases;
+ S2 h* ^% y6 mwhile increased inventory levels have afforded buyers more time when searching, f" W# Z) Y2 {3 f( N) ~7 M
for a home, helping to normalize the market's pace.
6 B3 }8 o) _2 W. k2 d- j, R$ r! f7 ?2 G# b
    <<4 {3 w% o6 @8 `
      Survey of Canadian Average House Prices in the Third Quarter 2006
$ J, P: S; k8 c8 Y$ n) s1 d
! i' o: V9 J# M, m4 J1 {    -------------------------------------------------------------------------
3 k  c& d* x) g; ^8 g& m                 Detached Bungalows                Standard Two Storey
) N5 n7 B# w/ ]/ y* @    -------------------------------------------------------------------------# n5 \' V. Q1 l- O( r# l
                     2006 Q3     2005 Q3    Bungalow     2006 Q3     2005 Q3
# D; F# L8 ^3 y+ i8 n9 V    Market           Average     Average    % Change     Average     Average
& I* [+ d& l0 K# H2 Q    -------------------------------------------------------------------------
* T2 d0 E$ y2 `+ y2 D    Halifax          186,333     173,333        7.5%     198,667     199,0006 B" e& [" Q. L9 d- c  R9 w
    -------------------------------------------------------------------------
$ A2 w* \. f0 X    Charlottetown    145,000     141,000        2.8%     175,000     170,0002 E% A9 Q+ H. I7 a/ N1 X+ I
    -------------------------------------------------------------------------
4 F; ~7 |  c6 j0 d. M% [    Moncton          135,000     127,000        6.3%     129,000     123,000% Q0 _& Z4 Y* Y
    -------------------------------------------------------------------------5 A5 q! `% R4 Q7 E7 e8 M
    Saint John       141,200     142,900       -1.2%           -           -
& e5 l) g& t/ b6 k9 L4 o2 O9 R    -------------------------------------------------------------------------
4 q% u% @% Z# C0 D  c, G1 @    St. John's       143,667     142,667        0.7%     200,667     202,333
6 O' Z3 O, V9 P, o+ K    -------------------------------------------------------------------------
$ @  p9 f3 q/ V1 |$ i  [6 |7 q$ V    Atlantic         150,240     145,380        3.3%     175,833     173,583! L7 K  f4 B" u& L
    -------------------------------------------------------------------------
( ]8 B/ {$ s& _, D: |6 E3 l    Montreal         213,691     203,500        5.0%     321,141     316,185
/ |& {" ~8 c" I6 o; r) l4 ^+ g  z    -------------------------------------------------------------------------
9 Y9 _, n+ m; v( \( U' V    Ottawa           290,083     278,417        4.2%     285,667     273,250
2 R- j! M2 w- a( h, g. H    -------------------------------------------------------------------------
( B* Y  ~6 Z: n3 ~    Toronto          373,368     355,882        4.9%     481,523     474,766* u7 G* l' A+ v( z2 K" i' p/ x
    -------------------------------------------------------------------------0 k% K: Z2 o4 H( G2 v- ^
    Winnipeg         181,579     159,860       13.6%     202,337     180,707& l: L6 z/ G( F" `
    -------------------------------------------------------------------------. Y+ J2 J- R) T
    Saskatchewan     170,667     156,083        9.3%     182,600     166,500
3 |7 }5 |4 [' y# ^; I  _! g* a    -------------------------------------------------------------------------
- U' o3 J+ ?4 \6 e# l    Calgary          395,067     252,411       56.5%     405,778     264,389
' g0 I- |/ u: X3 V) ?! f( t+ ?" g. E    -------------------------------------------------------------------------
( v, ^( K5 D9 d    Edmonton         286,857     194,857       47.2%     316,429     206,714% J4 A) `) M! ^: E& G' R4 L! k
    -------------------------------------------------------------------------1 \, N  e6 {1 V# x) l9 }
    Vancouver        704,250     601,000       17.2%     794,000     697,500
4 {6 A( `: u% w* `    -------------------------------------------------------------------------0 ~$ B9 \) v# [* ^$ j" x* L5 l
    Victoria         375,000     348,000        7.8%     403,000     391,0009 F% x6 e5 G- u1 N9 {
    -------------------------------------------------------------------------
3 E% w& s4 ?* Q8 q6 q    National         300,365     258,202       16.3%     365,380     322,860
9 `9 C6 u' l6 B! _3 F5 ^    -------------------------------------------------------------------------
' W/ }% N. A' U+ |
+ i" y+ H. R" q6 s    -------------------------------------------------------------- H  B0 Z8 X' X+ m, M+ o" r
                               Standard Condominium
3 r# f: ^9 i; z7 D' v7 l2 X    -------------------------------------------------------------
( r/ ?  ]+ g& k, k6 O7 \: V5 ^                    2-Storey     2006 Q3     2005 Q3       Condo; }+ K5 z, r8 b& D* d8 A$ g
    Market          % Change     Average     Average    % Change+ M8 _& _. \  K5 X+ \5 {( b
    -------------------------------------------------------------/ e5 F3 D, V" o( o, ^9 U
    Halifax            -0.2%     142,000     103,000       37.9%
' d4 T$ s( Z( Z8 X* X! O4 {    -------------------------------------------------------------
, l5 Z$ {# f: V; n/ k, e0 y    Charlottetown       2.9%      98,000      98,000        0.0%
# j" x1 H  ?& B1 k# i7 x. ]    -------------------------------------------------------------7 {; P) ]/ p1 s/ a- B0 u: K+ i' k+ I
    Moncton             4.9%           -           -         N/A
0 }# O! S+ J3 A( {" h6 P    -------------------------------------------------------------
( V! K: B! z' K( {# J: S0 U    Saint John           N/A           -           -         N/A# a. J/ X' b" z2 \# q' l
    -------------------------------------------------------------; d; Q; S+ h$ {' a: b3 ]7 x; }; l
    St. John's         -0.8%     146,333     145,667        0.5%, _# |- ~& j; ~* o
    -------------------------------------------------------------1 q/ k6 c6 g) E7 y: {8 y$ o- v
    Atlantic            1.3%     128,778     115,556       11.4%
; z' O2 C5 d: M) I    -------------------------------------------------------------: y. e7 @7 J8 x& A
    Montreal            1.6%     193,190     188,016        2.8%* c9 K$ n$ K2 g; X
    -------------------------------------------------------------# E9 N9 n) \' R+ @7 k8 }5 X4 H# D. M
    Ottawa              4.5%     181,083     172,250        5.1%+ j; [" f3 R% d& P* |
    -------------------------------------------------------------
& M& M8 S* d: c5 H" z    Toronto             1.4%     252,088     242,918        3.8%" Z0 t! f- z3 m& U# Z; v
    -------------------------------------------------------------! \9 {" b/ R  m( b
    Winnipeg           12.0%     105,648      96,008       10.0%2 J4 b5 R! B4 a8 `6 B
    -------------------------------------------------------------
5 W8 ~- ~" d% e" H- T- r" u! h    Saskatchewan        9.7%     106,250     101,000        5.2%
- x" H0 j6 l7 r    -------------------------------------------------------------* g- A4 S  \6 l0 Y. L' }" a  h
    Calgary            53.5%     245,844     153,867       59.8%
  M5 F7 D4 F# Z) ?    -------------------------------------------------------------- k' ^! _0 H8 K! S
    Edmonton           53.1%     200,433     131,500       52.4%
/ `$ I4 w1 A( y" h! o* v    -------------------------------------------------------------- {3 {, u. J' N. z! H. W
    Vancouver          13.8%     366,250     323,250       13.3%
- F, ^$ U6 }# A! r* v3 b# d    -------------------------------------------------------------5 g. L9 i. _0 K  w  X" U
    Victoria            3.1%     229,000     220,000        4.1%
1 F+ X# d4 \# }, d2 K. }4 `    -------------------------------------------------------------
! F* _+ z& }# k( B% `, s0 e    National           13.2%     211,562     185,296       14.2%
$ i; Q; I/ P! x! C    -------------------------------------------------------------
0 H8 G- D) F  v& B4 n! C4 U    >>
% K: \' o2 P( |3 R+ G
6 M9 Y4 c0 J9 ~% |7 \* f1 ^& n# c    Average house prices are based on an average of all sub-markets examined" K; t; a9 Q% H
in the area, except for the smaller markets of Charlottetown, Moncton, Saint
* \- ]( m+ a( }9 XJohn and Victoria.
. [/ a" Y9 i1 J* M/ A
: g8 C8 m" ]  ?    The Royal LePage Survey of Canadian House Prices is the largest, most; o2 `- ?! \; o3 L
comprehensive study of its kind in Canada, with information on seven types of6 G/ P3 X  R) {! t: k6 V  _; v& \
housing in over 250 neighbourhoods from coast to coast. This release
4 l/ `4 J8 M( s0 Z+ Treferences an abbreviated version of the survey, which highlights house price* L8 Y; V$ [0 ^: _
trends for the three most common types of housing in Canada in 80 communities
7 e5 s; X, C+ G3 i7 uacross the country. A complete database of past and present surveys is
0 K0 L% Y+ p& `& Cavailable on the Royal LePage Web site at www.royallepage.ca, and current
( x- ]- F* R3 Q) kfigures will be updated following the end of the third quarter. A printable2 b7 y' I7 ~# Q% r9 C, K; i2 \" i
version of the third quarter 2006 survey will be available online on: F, U% a2 k+ {5 s7 ]
November 15, 2006.$ |8 d% V2 e" v* q; T2 C' ~; ]
    Housing values in the Royal LePage Survey are Royal LePage opinions of, b2 |6 K! D% ^/ h6 Y+ J$ q
fair market value in each location, based on local data and market knowledge0 C+ M9 L. {- M2 S/ U& h
provided by Royal LePage residential real estate experts. Historical data is
; G* [; ~- V) I- k# Wavailable for some areas back to the early 1970s.
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