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Canada's housing market both vigorous and stable
9 a, s, `4 c0 G" H1 Q4 l: Y3 ~
$ L1 D* j2 J1 U0 W4 ?- Country's market poised to show growth throughout 2006 -) C, w) E1 q& }
* Z( ]0 D/ s( {' e
TORONTO, Sept. 28 /CNW/ - For most of Canada, the housing market P0 m y# E* ]% m" I4 B4 ^
exhibited moderate price increases and stable unit sales during the third
# |" G8 S2 ^. a" Mquarter. Wide regional variances continued to be the dominant characteristic
# x/ Y6 K7 g$ uin the market, exemplified by frenzied levels of activity and double digit, x$ I) F( Q! M. V* @
price gains observed in the energy and commodity rich Western provinces, and) k* Z% {, ?) y- @& F5 L, v+ V- B
more reasonable sales volumes and moderate price appreciation in Ontario,
# i `, i' H) l# g: h1 gQuebec and Atlantic Canada, according to a report released today by Royal
1 l( C. U; A7 H/ c9 [& c& D) iLePage Real Estate Services.
2 w2 O# A2 q5 f$ ?
" @) ?( e1 I0 Z1 ?3 a/ K$ h Nationally, market trends established through the first three quarters
+ s2 ~) j) D: f. _. u& B% O/ qare forecast to continue for the remainder of the year. Robust economic( ~* M, _% [2 I/ M) k: a
conditions, low unemployment rates, modestly growing salaries and wages, and5 o1 y. v4 o. _
sound consumer confidence contributed to the overall strength of the
' J& g4 x4 n/ Y. `+ bresidential real estate sector.4 |' H7 f r$ y. f8 o
; p) a4 f+ l& r
Of the housing types surveyed, the highest average price appreciation
5 d. V4 H- ?4 ^5 q9 P- v: `occurred in detached bungalows, which rose to $300,365 (+16.3%)) r/ p. o' U x* Y" z+ ?& e1 p$ O# v
year-over-year, followed by standard condominiums, which rose to $211,5620 l4 k& G+ c* L' p8 R
(+14.2%), and standard two-storey properties, which increased to $365,380
; U4 M9 ^7 A; H. A' _(+13.2%).
1 `, @* Y! f# i+ I
5 L7 i; G9 u3 d; {. ]6 c% k0 H "Canada's sturdy housing market continued to demonstrate steady growth
1 P* U/ ?8 E1 Z* n {during the third quarter. For all but the west, we have moved on from the
. L' q7 Q) p! |; Dfrenzied expansion that characterized the first half of this decade, and are
6 k% h+ O5 y( V) S' \poised to show continued growth at a more moderate pace," said Phil Soper,( P+ R1 f& t o8 J, X
president and chief executive officer, Royal LePage Real Estate Services.6 ]) C8 Y6 y5 D* M N
"Gone is the sellers' market that we have lived with for some years. We
! k8 C9 {, ^9 Q3 awelcome the more reliable conditions that are characteristic of a healthy
- T7 H3 ^! B" y# ibalanced market."
5 G- C* {# K1 r2 _, k( P. _+ j0 l6 o- |: ^9 q- }6 [3 D* e7 c' Q V
Despite the double-digit rise in average national house prices,6 C- Z( |; Q' U6 k) J& Q% O
considerable regional variances were exhibited again this quarter. The shift
$ l+ d/ c4 |5 }to balanced market conditions, which began in late 2005, has continued. r# N! ?, G0 T0 N3 Q
throughout most of the Central and Eastern regions of the country. In the core+ S- u ~9 @5 Z+ H0 f' f; V" ~
energy producing western provinces, the combination of very high in-migration,
/ T, F$ @7 Y' ~" Bmanageable affordability, and a shortage of inventory has driven record9 S0 }+ E- h1 ` v% c+ E: k* L
breaking price appreciations.
: S( W0 o6 z7 p4 P2 N. b3 K7 R- I( R0 y
Echoing the second quarter and supported by Alberta's rapidly expanding" Q0 ^ o- H6 d- O% F
economy, Calgary and Edmonton led the charge of Canadian cities with the
7 _% D5 \% o; D, t1 Rlargest house price appreciation in all housing types surveyed.
. b* ]- Z" A, c" {2 q+ ?3 B4 o& b
6 e9 R' ?: B$ }5 d$ K In Ottawa and Toronto, growth remained steady, supported by solid2 c' ~8 u1 v; O# L; Y
economic fundamentals, an increase in available inventory and strong consumer
* z K& ^. V4 P0 y& i$ |confidence. While the pace of price appreciation in Ontario leveled off6 X5 K" p1 j- Q8 O. @
slightly, the province's real estate market remains poised for modest growth.' X: ^% E1 V) H4 r* b' D
In Atlantic Canada, new housing and condominium construction offered buyers
9 J6 [# N3 ?8 k" Qgreater selection at more competitive prices, resulting in a slower rate of
- Q9 I+ d& B: M5 }7 G" D ]" Bprice appreciation when compared with 2005.
5 l& o) ~ f" T* [ w0 e
6 ?+ o3 Z. `. G% I4 n" W While the pace of growth in Canada has slowed, the domestic housing
9 B& [7 `/ `5 v3 T8 ~6 C3 }$ @# lmarket is expected to outperform the American market. The economic and
) C) v4 L- {' a* ofinancial fundamentals driving the residential real estate sector in Canada
, K% E1 }6 ~. n9 [1 x! r9 Iare markedly different than those found in the United States.5 h" `8 ~- ]2 |7 ?# \
t, o. j/ _) o6 v0 M' a
Added Soper: "Canada's housing market is likely to outperform the
0 s+ T3 C) a1 F$ FAmerican market through 2007. A number of factors are working in Canada's
/ U7 R6 C) g+ s: Bfavour, including healthy personal and governmental debt levels, the4 e# J x; B( ]! D
relatively modest rise in interest rates in our country, and general
! b; e# j: m' t7 K' ~affordability in our major cities. In addition, Americans are now seeing the
: t: [5 o( U b1 Y# A7 B. \downside of a tax system that encourages maximum homeowner leverage, and
; C1 U. \% O8 v9 @5 `" Maggressive financial products such as zero- and negative-amortization
. _: P( ~, E- _+ C0 N% kmortgages that work only in a high price growth environment."4 i& k6 Y5 P8 B# u# M! D( ^
! {. ^4 k# y1 ~. T/ s$ _ <<8 ?2 p2 B9 `$ m" z
REGIONAL SUMMARIES9 [8 i7 k% Y3 L" l3 G
>>. k9 p4 D; ^; U1 e# d7 |& W5 ^* \& W
3 `$ q9 X* [. q5 ]0 G$ A; l' M
Balanced conditions continued to characterize the housing market in
7 h" Y/ Z, d7 |4 GHalifax, as significantly higher inventory levels helped to moderate the rate
5 g' ]8 h; q4 ~( a8 n# s" sof price appreciation. Buyers were increasingly choosy, taking more time
: k% q5 F6 w$ C) J( [3 u" Mlooking for newer, low-maintenance properties that were not in need of+ P% S5 f) \( @3 [$ Y) @
renovations.& d3 `- q2 W6 e5 j6 x$ F9 p
u Z" p$ p3 t
The housing market in Moncton remained healthy and strong as a slight C1 u6 y6 q* B; J; a' H' H
increase in inventory helped to moderate the rate of price appreciation( e. a2 I9 F8 v2 I B
compared to the same period in 2005. Activity was brisk throughout August and
2 D0 ]2 p8 q) kSeptember and is expected to remain this way through the fourth quarter.4 A3 W& M! T% A, P) z" T* s
# H9 r, _- L4 C7 g$ k
The housing market in Saint John underwent its traditional summer
5 U3 K8 L0 R5 V# `slowdown in the third quarter, with activity picking up towards the end of the5 g2 }5 c7 F/ Q: c; A
quarter. The local economy continued to thrive, as construction on a new
: k+ _- Z/ h- U+ I( o* }2 o1 o$ y600,000 square-foot shopping area has begun, bringing several new box stores: S8 z B& U3 N# f
to the area. Buyers have begun seeking less expensive fixtures for their homes/ S s7 E7 R* |+ J8 V# W1 t5 e
and are instead opting for more affordable housing options.: ~4 n9 d/ }( x; f0 g7 U/ \! f
5 v. ~- u4 B f
In Charlottetown, the housing market started to move towards balanced7 ^9 J+ g6 Z9 s- l1 E8 X3 l
conditions, as some sellers had to begin to lower the asking prices on their
8 G2 w$ U) W5 q! P3 thomes to make them more competitive. Activity from out-of-town and US buyers( U3 B) B0 _' L! d
was down slightly compared to 2005, likely attributable to the strong Canadian& d9 X$ c( o$ b/ m- {! H
dollar. Inventory levels began to creep up in the third quarter, providing3 C# r1 u$ T% I$ Y3 f6 S
buyers with more options when looking for a home.
7 E% F3 z5 R* ~# ~; g( Y
4 Y; Z, {% Q" L$ A& ~: O- s% p Activity in St. John's slowed slightly in the third quarter, particularly
9 B. H7 H/ Y/ J( ?among higher-priced properties, where there was a slight over-supply of homes
9 o* V5 ]6 |% i9 a5 _3 }! Ipriced over $200,000. Listing periods have increased when compared with 2005," |; y* s% m+ T% z/ q: A" m/ |( K
as some of the pent-up demand that had characterized the market over the last; p- b, T: F3 v1 T9 n
few years has been satisfied, resulting in more normal, balanced conditions.
$ P* a6 N0 A( A
6 L' ]: N2 U' [. G. |1 z/ Q1 o) a Montreal's housing market recorded modest increases in average house
! e+ b$ g- A# c, Q. w6 _% `; q5 zprices, due to a slight seasonal slowdown in the third quarter as inventory
6 J; l% P6 y. W# V5 _levels rose. Part of this can be attributed to the fact that many renting' i! G6 m; c1 l0 U* y
first-time buyers were motivated to close on the purchase of a home by July 1,
/ N) |8 l/ S+ W2 ~$ ]" x [1 B/ Lwhen rental leases expire in Quebec. Once this date has passed some of the: a8 d. M4 a) q7 Q _
pressure is taken off the market, allowing buyers to visit more homes before
9 ]( f) Y7 K# ?/ Hmaking a purchase./ A$ N- a6 W- ~, B/ c
7 L% y @+ H: ~
Ottawa held its position as one of the country's most stable housing
! C$ m6 V) n4 H: C6 \# _) @' Amarkets in the third quarter, reinforced by a vibrant local economy and strong D( N( @4 O+ u/ ?! |9 `/ S
confidence, resulting in modest increases in average house prices. The city4 a; ~( o7 s6 l# o" E* }
centre remained a bright spot in Ottawa, with homes in this area attracting& F& Q1 Z8 @. C# T/ i1 M2 E/ K0 ?
attention due to their convenient location and proximity to downtown, x6 c5 b7 }2 A1 F# b& m( ?4 L3 K
amenities.
( Q: ^! ~2 Y9 b8 H S# y; ]) y4 o7 X% N0 X! i7 b1 h# i0 i K6 N
The housing market in Toronto sustained healthy activity levels& R8 Z* r) w8 p
throughout the third quarter, as a strong economy helped to maintain demand
) R& Z" E" n( x' }across the city, causing average house prices to rise moderately. Toronto has
3 m3 u. B. |4 B: ^ g3 Icontinued to experience modest growth in average house prices, and has been7 ^6 R! _. _; u, D# a/ m4 I, S
driven primarily by purchasers who are buying homes as their principle. V7 W' u+ @& W' C0 H
residence, rather than for investment. J, P4 \9 g" l6 V4 E5 ^$ F2 Y
, |3 H/ R& p- x3 x" k1 P The vibrant Winnipeg housing market continued to show its strength as) a/ H8 f5 f) V; [) A
house prices rose during the third quarter. The booming local economy resulted8 T. W2 x5 ^! Y/ m% K" `" z
in a historically low unemployment rate, helping to bolster consumer: ]2 l3 Z+ s- K: u8 X
confidence and Winnipeg's ranking as the city with the lowest capitalization" [' z% o$ V- Q: V7 L" z5 r
rate among the country's larger cities - helped to encourage buyers to enter
! D, B0 \' p1 y$ ythe market./ O5 r3 v4 W9 |+ L; s, U% S( l
+ l5 V( k5 s, f. ^ In Regina, the market experienced a slight seasonal slowdown through
; v6 {+ p5 q2 j! V- |& gJuly, as there were fewer purchasers in the market due to summer vacations. In, m( ?* Y# B, u8 t
August, activity resumed to the busy pace previously seen in the spring& N( j% A4 C, ^1 H3 z5 T( m
months, as the influx of purchasers made it more difficult to find a home due+ G: m5 s( ?4 h# ?5 A; C1 F# R
to the shortage of available inventory.
0 r B* G; j- \' @# I% R) y H8 [; W6 j3 p/ H0 x1 s% ]& ]
Activity in Saskatoon remained brisk as the market maintained its9 P8 ~2 d" Q3 T3 j
momentum from the busy spring sales period. The economy in Saskatoon remains- Y" U2 {7 U% ]
vibrant, as employment opportunities are abundant with many businesses
0 o5 _4 p- O+ I8 q" Lstruggling to make hires and having to recruit outside the province.
* e$ x% C7 h6 \* d( w
) T4 f, m) R' ^5 \2 C( `. c Calgary's housing market recorded blazing average house price increases
; _7 S- P8 X% |0 E+ ]3 n8 Win the third quarter, in all surveyed categories. The burgeoning economy, low6 N, _1 D. L. `6 j5 ~
unemployment rates and low inventory levels remained the leading factors that
- E: L% i4 ?: r# j8 X' dpressured Calgary's house prices upwards. However, regardless of the soaring2 g0 \+ k# [+ N3 U6 i0 C1 Z
prices that characterized the market - even during the typically slower summer
# ?7 ^. N" X' u) A; P8 ^season - it is expected that activity will become slightly more balanced, as
1 F( e1 u6 a/ w( u: ~6 O; J( Dbuyers are becoming more reluctant to participate in the frenetic activity.* y+ R9 b7 ?* Z* w- d6 O$ a
0 |6 L! L0 ^$ @" m. w9 F1 ^' C
Edmonton's booming local economy continued to thrive in the third quarter- [" l& g; g+ E3 ~
as activity in the oil sands north of the city continued to flourish. Edmonton
6 L+ q7 Z, U; \: G l& kremained the hub of activity for those coming to work in the oil industry,. H/ v2 \7 J9 D$ s' K7 z3 r% L
maintaining tight inventory levels across the city, resulting in prices/ L8 \/ }- b$ Z8 o4 M+ l6 S
increasing at record levels. However, as inventory levels continued to improve+ |$ C9 S8 L/ u9 ]( a2 [6 W, W+ e, _
in the third quarter the rate of price appreciation should moderate slightly, Y! k; q$ H: W0 |" h5 O
towards the end of 2006. 6 [; {' k% ?& M# T
6 b+ F6 e* ?: f' ^! i3 i: KWhile Vancouver has seen a slight reprieve from the severe shortage of0 F$ O v. J' |" e4 W/ v
inventory that had previously characterized the market, supply is still unable8 \. a: r% K) h2 |4 Q4 ^
to meet demand, driving house prices upwards. Vancouver has a very diverse
_9 _0 z1 K5 b( M* A# Igroup of active buyers - from first-time home buyers to baby-boomers to
+ N! h! e/ h4 Eforeign investors - all of whom fuel the demand for houses, placing added0 p% ]7 n; K- `) \1 @
pressure on tight inventory levels.0 a( r$ Y4 v5 Z; I$ a
8 H* Q2 |- ]) @, b0 _% ?
Victoria's market is vibrant and supported by strong economic/ T: `4 i) ~% U+ R: ^
fundamentals, fuelled by a booming tech sector and a migration of young people
* |* D. c x. t6 k6 hinto the city that has continued to support the area's house price increases;& Q3 K) I( `' q ^
while increased inventory levels have afforded buyers more time when searching
+ N0 R% N' }. K8 R9 Q. sfor a home, helping to normalize the market's pace.. B! B( [" X H8 P
5 U i9 u1 U/ |- s5 N
<<
( g F$ u* q$ W8 Q' E3 E X Survey of Canadian Average House Prices in the Third Quarter 20066 Q! Y& h8 f9 |8 a, d+ \- A
) V3 S2 x' M' N5 E% r/ W) e) E -------------------------------------------------------------------------
2 _: N& M$ L0 X' {' g ]) K Detached Bungalows Standard Two Storey
9 o! z: N# @# X% A! h -------------------------------------------------------------------------1 ?4 x+ G) v2 j- Y* y; g5 c/ [, u
2006 Q3 2005 Q3 Bungalow 2006 Q3 2005 Q39 d* e/ Z, p! F$ f
Market Average Average % Change Average Average
/ M0 F7 y& M1 }; F+ d6 B: c -------------------------------------------------------------------------5 m7 t9 ?; [9 x7 K# v/ b( H2 ^
Halifax 186,333 173,333 7.5% 198,667 199,0007 ~4 ]6 A0 Z L6 F* h' V* \
-------------------------------------------------------------------------
* n5 q7 e; i& y; H- U Charlottetown 145,000 141,000 2.8% 175,000 170,000% y9 G, R* z& g
-------------------------------------------------------------------------
. u/ E8 t# `' b c3 @ Moncton 135,000 127,000 6.3% 129,000 123,000
; N4 C# O2 L- S! o+ _' r' x2 v7 a" e -------------------------------------------------------------------------
: J1 w( O# H1 }; Y/ e% Y Saint John 141,200 142,900 -1.2% - -
( i8 B1 |+ Y$ W* A- ~9 Q: r: } -------------------------------------------------------------------------: T" {; x2 V0 n/ B8 r3 U) [
St. John's 143,667 142,667 0.7% 200,667 202,333
8 h6 x) o! x/ J. A6 o; P2 W -------------------------------------------------------------------------2 n& Z6 I- m* i8 Q3 s7 x
Atlantic 150,240 145,380 3.3% 175,833 173,583% F7 ]) \3 Y( d. b$ V. L$ A/ }
-------------------------------------------------------------------------
5 s/ A9 L' C' F( P+ h: T9 Y Montreal 213,691 203,500 5.0% 321,141 316,185
0 l9 p$ [* g1 `& T! m+ N, B -------------------------------------------------------------------------( D- h; N& \" @% J2 w6 u- @
Ottawa 290,083 278,417 4.2% 285,667 273,250
! _( c0 Z+ q* R7 ^- Z' H9 D -------------------------------------------------------------------------
* ^) d0 B, w! |" P3 d1 B( ` Toronto 373,368 355,882 4.9% 481,523 474,766
' d0 a4 {) i7 ^% x- x+ m -------------------------------------------------------------------------
% a- q3 r2 M: m& K3 h Winnipeg 181,579 159,860 13.6% 202,337 180,707
/ h1 u0 d, l" ~! e$ U& Q* }, w+ l -------------------------------------------------------------------------4 E: [( [. |% ^0 N9 x. p: l1 {
Saskatchewan 170,667 156,083 9.3% 182,600 166,500
3 W4 j* G9 l3 y) ~ -------------------------------------------------------------------------
* r0 N, B. s E2 d* C u5 \ Calgary 395,067 252,411 56.5% 405,778 264,389# P2 ?( q' H( \( G8 \! b0 h# ~
-------------------------------------------------------------------------& O; }7 ?6 f. [5 [* q
Edmonton 286,857 194,857 47.2% 316,429 206,714
; |/ d5 G; Q& \ -------------------------------------------------------------------------
3 _5 n/ f+ B0 l4 w# l Vancouver 704,250 601,000 17.2% 794,000 697,500
8 q" @: f' E! q- `6 a$ w -------------------------------------------------------------------------0 I$ H4 o8 y5 Q0 C# k
Victoria 375,000 348,000 7.8% 403,000 391,000+ \9 T( J- h5 U1 c
-------------------------------------------------------------------------
# ]. v. C9 W/ c, G* A! r1 W National 300,365 258,202 16.3% 365,380 322,860' U9 L* Q' R; Z/ D, y3 [! f
-------------------------------------------------------------------------
" x; i7 ^' A3 o- ^9 K4 c3 m
j& m* x& V! `- c -------------------------------------------------------------1 D- s: t# x# p& @3 w
Standard Condominium* |/ a1 e/ M% b5 Y
-------------------------------------------------------------0 u; V8 F- F7 ?8 l9 E
2-Storey 2006 Q3 2005 Q3 Condo
, V0 L* J; b. C1 c, j0 C Market % Change Average Average % Change5 j& M8 d. \- }2 D3 P
-------------------------------------------------------------! }& x& N/ M8 R5 Z" v, v
Halifax -0.2% 142,000 103,000 37.9%
6 p1 t* i$ L& Y9 ?7 Z9 `& L -------------------------------------------------------------. Y) ]6 D+ {$ Y9 J( c
Charlottetown 2.9% 98,000 98,000 0.0%0 [; Y+ y% ?9 m7 ~( f7 d6 A* R
-------------------------------------------------------------
1 c. G* N/ _; ?: C5 I Moncton 4.9% - - N/A
0 a/ E0 V9 U1 z -------------------------------------------------------------5 X( `# o, J$ B: V
Saint John N/A - - N/A
7 ?0 M( o: W, z& h! M5 l -------------------------------------------------------------; ]$ I; D3 n$ J# |7 ^
St. John's -0.8% 146,333 145,667 0.5%2 I, D, _1 q; G" R# ?9 O* O
-------------------------------------------------------------" f# q+ B* C. s d+ \. N3 Q
Atlantic 1.3% 128,778 115,556 11.4%
) P1 i7 x- R; H, x5 ^3 t4 { -------------------------------------------------------------- i. x8 A, L$ }
Montreal 1.6% 193,190 188,016 2.8%2 A Z1 E! w; p: E5 M8 L) i0 e8 v
-------------------------------------------------------------
% _7 O# A+ B1 C/ h$ e Ottawa 4.5% 181,083 172,250 5.1%9 t( h, k: d6 p
-------------------------------------------------------------- F/ v `% A0 q
Toronto 1.4% 252,088 242,918 3.8%" n/ @$ v8 M H* }% g' ], `
-------------------------------------------------------------5 W1 R; Y: G" Z( B1 I/ i/ q
Winnipeg 12.0% 105,648 96,008 10.0%! g, C. ?* p0 ~5 `3 V' o& E
-------------------------------------------------------------
% ?, z) x$ h7 ~! B& p! Y Saskatchewan 9.7% 106,250 101,000 5.2%; I- r6 |( G) |8 T2 q" {
-------------------------------------------------------------
* i4 R( M! f( s8 l1 R/ s Calgary 53.5% 245,844 153,867 59.8%
0 B1 {& f, Q& [$ { -------------------------------------------------------------
. W* o6 J8 |& B+ V. n6 S Edmonton 53.1% 200,433 131,500 52.4%' k+ o& [5 a# i3 A
-------------------------------------------------------------
( r. c, q& v! u- h3 o Vancouver 13.8% 366,250 323,250 13.3%* y1 b4 C; k6 v; p/ |
-------------------------------------------------------------
. H/ `/ b+ k1 B8 P9 X' D& F Victoria 3.1% 229,000 220,000 4.1%
; y4 ?* C9 @ @" s' U/ z4 C -------------------------------------------------------------$ i1 D% [4 A0 T) a j0 j+ f
National 13.2% 211,562 185,296 14.2%7 V H! N$ X; M# S
-------------------------------------------------------------1 t0 h+ _' ]( |# m" n
>>0 T* f) M0 F9 _* T3 k, h' }
' ]) Z2 r3 t, \7 T
Average house prices are based on an average of all sub-markets examined! s P) q; e$ W. \4 ]) e7 H& g
in the area, except for the smaller markets of Charlottetown, Moncton, Saint
, b, e# B0 U+ [, A. ^" aJohn and Victoria., D+ q, v* l& \6 T# u z
, `8 B5 g! K G* l, k# e' M The Royal LePage Survey of Canadian House Prices is the largest, most" [1 w% C" q d# ]
comprehensive study of its kind in Canada, with information on seven types of1 A9 Q$ W* c% g8 N3 l
housing in over 250 neighbourhoods from coast to coast. This release4 h. _5 y2 `9 Y0 C
references an abbreviated version of the survey, which highlights house price6 q, g8 y( m$ W$ Q+ d
trends for the three most common types of housing in Canada in 80 communities
6 K: D' G: G. F2 e1 lacross the country. A complete database of past and present surveys is7 @( W2 f' {' l$ o3 l& {+ l, i* V) ?. ?- \
available on the Royal LePage Web site at www.royallepage.ca, and current- } G! H" U, Y0 q
figures will be updated following the end of the third quarter. A printable
' ^5 [0 t: O' V% ^version of the third quarter 2006 survey will be available online on
9 e2 r6 y' l4 V* t1 l; \# LNovember 15, 2006.
" H( A( ], W) K1 Q: i8 a Housing values in the Royal LePage Survey are Royal LePage opinions of4 `3 _: i4 z) i% A( s
fair market value in each location, based on local data and market knowledge
, R& V3 t" W9 j* t4 eprovided by Royal LePage residential real estate experts. Historical data is% x2 K( \/ x, ^+ A" t
available for some areas back to the early 1970s. |
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