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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 3 ]2 Q9 P" {& y' i5 O

9 P7 @3 ~5 Z. _$ j- `. A/ g" f! _- Country's market poised to show growth throughout 2006 -7 E6 o. Q/ V5 ]$ F" Z# T$ N9 F
! Y) ~+ T, M  r) W
    TORONTO, Sept. 28 /CNW/ - For most of Canada, the housing market* d( l0 F+ k5 ^8 P* p. o4 J
exhibited moderate price increases and stable unit sales during the third
) p! a  @) P+ Fquarter. Wide regional variances continued to be the dominant characteristic  e' x* P2 E% N0 C
in the market, exemplified by frenzied levels of activity and double digit$ z5 w+ c$ p2 Y9 Y
price gains observed in the energy and commodity rich Western provinces, and
  K: y6 j& w9 F2 t$ G! Xmore reasonable sales volumes and moderate price appreciation in Ontario,
2 z* R- m. v: T! E" FQuebec and Atlantic Canada, according to a report released today by Royal
- d% R  E2 @$ U/ U( pLePage Real Estate Services.' h8 O9 |3 w* o; o

- d: `8 ]) m/ B  B% k    Nationally, market trends established through the first three quarters9 T4 m4 f- f# U4 p) o3 g
are forecast to continue for the remainder of the year. Robust economic
& Y4 T$ F: W0 w4 t/ c- Lconditions, low unemployment rates, modestly growing salaries and wages, and
2 V) B; n+ g2 g3 |" m+ z' e. B# e' Nsound consumer confidence contributed to the overall strength of the
0 U+ `, l4 c' ^residential real estate sector.
0 Y/ w# g, Q( B3 |$ [) {+ Q4 ~/ k
! H! U2 }( V5 u6 `    Of the housing types surveyed, the highest average price appreciation2 p+ u# e5 N; d( n3 z
occurred in detached bungalows, which rose to $300,365 (+16.3%)
- k8 r% w+ Q0 qyear-over-year, followed by standard condominiums, which rose to $211,562
$ Q7 h" w8 K% p+ [$ ~(+14.2%), and standard two-storey properties, which increased to $365,3801 y% {0 C. Y* v0 d
(+13.2%).
2 W1 A% h: g7 R
% s: F* b' y) ?5 U! a    "Canada's sturdy housing market continued to demonstrate steady growth
5 g" a7 R1 r1 g7 Cduring the third quarter. For all but the west, we have moved on from the
# V% r- }* o! k& I9 ?. I5 jfrenzied expansion that characterized the first half of this decade, and are
% N& H. D% s' T7 e- q0 `' f; Hpoised to show continued growth at a more moderate pace," said Phil Soper,8 `) }2 A/ ?" V
president and chief executive officer, Royal LePage Real Estate Services., U3 ^: n- r/ V7 ~# B% F  v% Q, C; y
"Gone is the sellers' market that we have lived with for some years. We7 T4 o* c2 ]3 l7 }. L; H1 f) f
welcome the more reliable conditions that are characteristic of a healthy( F5 Q/ \: |5 J! G7 n' b
balanced market."9 A8 {" k2 j' `/ [8 X
) M% l' }/ t/ h# j
    Despite the double-digit rise in average national house prices,+ \4 F2 `+ r$ X" S* W
considerable regional variances were exhibited again this quarter. The shift, h8 ~) h5 |, f2 \( |) f
to balanced market conditions, which began in late 2005, has continued
8 Y+ L" E5 C" R6 o- @+ |throughout most of the Central and Eastern regions of the country. In the core
7 o* }  S3 k5 g1 ]% kenergy producing western provinces, the combination of very high in-migration,
+ V) h: J( H, ]) O- ]% Gmanageable affordability, and a shortage of inventory has driven record" J& Z0 R" d+ O: y
breaking price appreciations.
5 c$ E) P: K: i- O" d
7 x2 i( u1 d2 V: F3 F) ]4 H5 m    Echoing the second quarter and supported by Alberta's rapidly expanding
! ^, D1 A& a1 Aeconomy, Calgary and Edmonton led the charge of Canadian cities with the$ s2 b7 A+ g$ n3 E1 [) L. w2 h
largest house price appreciation in all housing types surveyed.' O1 R/ a. E1 v" L- G
: V- q' C' ]; @" o
    In Ottawa and Toronto, growth remained steady, supported by solid
: L* W- N) O6 l  ?/ U; Jeconomic fundamentals, an increase in available inventory and strong consumer
% ?0 b; y- G  L2 k0 W$ }  E# xconfidence. While the pace of price appreciation in Ontario leveled off
: g! P: {: u, y# I: _* G; u7 o9 hslightly, the province's real estate market remains poised for modest growth.
5 ~+ c# F+ O0 x2 I, ~2 G- GIn Atlantic Canada, new housing and condominium construction offered buyers
3 i3 M. k$ f+ bgreater selection at more competitive prices, resulting in a slower rate of  L# k) r. ~& ]8 K) A  Z
price appreciation when compared with 2005.
) _& l: \, c. T( C2 L# P7 w: m
! o" N# D! j0 S: U5 _    While the pace of growth in Canada has slowed, the domestic housing% T+ e- J% W/ r# w' [+ d
market is expected to outperform the American market. The economic and' ?) Y+ X' y* ~6 u, @; D
financial fundamentals driving the residential real estate sector in Canada0 s7 ^8 M% p6 Q- T8 }, c
are markedly different than those found in the United States.  X2 h6 P" i2 x' h! N0 |
3 }9 T6 l( {$ i" j
    Added Soper: "Canada's housing market is likely to outperform the- t7 v! `# _: o* k
American market through 2007. A number of factors are working in Canada's( m6 A0 B* d+ G
favour, including healthy personal and governmental debt levels, the1 g6 L3 Z! c5 m' v* Z' B
relatively modest rise in interest rates in our country, and general
: i( V/ i$ h& T  zaffordability in our major cities. In addition, Americans are now seeing the
$ C# O$ z! K% I# i. X1 E; g1 ddownside of a tax system that encourages maximum homeowner leverage, and
3 |$ J: t1 d" Aaggressive financial products such as zero- and negative-amortization$ Z8 Z8 t* ]/ r! |5 b
mortgages that work only in a high price growth environment."
# S% s3 G* h0 k5 e- u
# D- q; X! M3 S, \9 a) M. J% p# S( u    <<
# Q1 O$ k- k! A% F8 u" h! f                             REGIONAL SUMMARIES
# N5 S' `0 m; T; [# \$ i3 H    >>' w$ o; l8 t: O# D+ M

3 r7 A6 o% z# g: k  L0 w3 f, F& L    Balanced conditions continued to characterize the housing market in) B, R6 o& c9 P9 |# q) C
Halifax, as significantly higher inventory levels helped to moderate the rate! o8 }* v7 |' H2 I. _3 _
of price appreciation. Buyers were increasingly choosy, taking more time
" }" s7 f. |( C4 H  Klooking for newer, low-maintenance properties that were not in need of1 u  s) j2 R/ T' b
renovations.
; F/ R$ Q' I8 Z2 U  l% {& W2 Z
4 p* S$ u+ C7 d' `: C  S# C) T    The housing market in Moncton remained healthy and strong as a slight
& a8 s4 a% A/ P, s& mincrease in inventory helped to moderate the rate of price appreciation
6 @  F; r; }& qcompared to the same period in 2005. Activity was brisk throughout August and0 `+ V# a1 d; X% a* [
September and is expected to remain this way through the fourth quarter.' _" X9 m3 K, J2 x1 \

' K$ @9 J. Y8 X9 g6 L3 h3 y5 @9 B    The housing market in Saint John underwent its traditional summer
: j4 r  [" [9 i. Oslowdown in the third quarter, with activity picking up towards the end of the
* l% `7 P7 Z% T; h8 A* Wquarter. The local economy continued to thrive, as construction on a new6 U# j2 S6 y" |$ U1 W
600,000 square-foot shopping area has begun, bringing several new box stores
8 q# B' {; l' g& i  G+ b  `9 cto the area. Buyers have begun seeking less expensive fixtures for their homes; Q, E  l% g# {3 c2 @
and are instead opting for more affordable housing options.3 B7 f8 w* O- t, A8 V
9 I- Q1 c- J1 @
    In Charlottetown, the housing market started to move towards balanced
# ?& {8 z2 f+ `/ a8 T/ Aconditions, as some sellers had to begin to lower the asking prices on their3 g/ b3 j4 z" s8 B% J% k: Z! T
homes to make them more competitive. Activity from out-of-town and US buyers
$ G& X7 b9 G& Z" o& G/ dwas down slightly compared to 2005, likely attributable to the strong Canadian
8 u) `2 T8 D7 d, j2 Y, Xdollar. Inventory levels began to creep up in the third quarter, providing
' f! ]4 `4 {1 }# M' c' obuyers with more options when looking for a home.+ S. F0 h) h2 g  Z7 \

  P0 v8 N; r5 P4 k7 U2 a, v5 y    Activity in St. John's slowed slightly in the third quarter, particularly
& ~" n6 [, J! ]& L# Wamong higher-priced properties, where there was a slight over-supply of homes3 E* Z' J, J4 T4 i- |- H
priced over $200,000. Listing periods have increased when compared with 2005,
! H: ]+ u1 F- }# G; C* Cas some of the pent-up demand that had characterized the market over the last
( c# {8 A5 F; J; k4 c& e5 y, jfew years has been satisfied, resulting in more normal, balanced conditions.! Q( J+ X+ \0 T; ~& r( c

- ^" c' p% @8 p( x    Montreal's housing market recorded modest increases in average house
% [/ l: J" n" `! P$ _6 Xprices, due to a slight seasonal slowdown in the third quarter as inventory
3 w+ Y. S* p; @4 {" d3 }1 [5 v, plevels rose. Part of this can be attributed to the fact that many renting6 _0 O1 C; [9 ^1 A) z$ s/ E" {; h
first-time buyers were motivated to close on the purchase of a home by July 1,2 o8 r' M5 s' `/ G9 U1 W" Y
when rental leases expire in Quebec. Once this date has passed some of the6 z' _$ a6 ^* O
pressure is taken off the market, allowing buyers to visit more homes before
2 k- B8 P, Z# h# B/ `. F) `making a purchase.
. ~+ G8 J( g  ^" W6 k- X2 e* t  V
    Ottawa held its position as one of the country's most stable housing3 E$ ?) t7 ]9 X
markets in the third quarter, reinforced by a vibrant local economy and strong4 F3 G6 X' [% J/ a
confidence, resulting in modest increases in average house prices. The city
- Z. n# \- J2 V' u+ Jcentre remained a bright spot in Ottawa, with homes in this area attracting) r2 H3 U+ b6 T! H/ w- v  L: b
attention due to their convenient location and proximity to downtown; z4 M+ L6 f$ l. e, r
amenities.
: A  e) _* H% J: E0 ~* q
8 K: A3 I5 G+ J    The housing market in Toronto sustained healthy activity levels
" z& o+ b# _+ E4 H$ L! Othroughout the third quarter, as a strong economy helped to maintain demand
3 k" Z( [% _+ n* u5 h) Facross the city, causing average house prices to rise moderately. Toronto has
8 ~  H7 Z1 c5 a- C. tcontinued to experience modest growth in average house prices, and has been% _! X, _: i, {' _
driven primarily by purchasers who are buying homes as their principle2 Z0 Y/ e! {  M* e+ O
residence, rather than for investment.& T/ k# L1 N! L+ {' F2 `- n
- B0 t9 p( E6 f3 B/ K1 r/ A# _
    The vibrant Winnipeg housing market continued to show its strength as4 h  J5 y' w2 s4 ^# e4 S6 w( y
house prices rose during the third quarter. The booming local economy resulted
9 R, q& T2 r' W% u7 X' Tin a historically low unemployment rate, helping to bolster consumer3 D+ }) e. b% |4 C8 Z  U- o. u" D- {
confidence and Winnipeg's ranking as the city with the lowest capitalization
( k1 a" d+ ?8 Brate among the country's larger cities - helped to encourage buyers to enter
5 j) p: M9 R: J" d* A' Nthe market.
2 S9 H1 K& r% L9 c: F
5 [+ @' A  U' t6 B    In Regina, the market experienced a slight seasonal slowdown through
* b% u4 b' ]* @July, as there were fewer purchasers in the market due to summer vacations. In- Q* k6 i2 z' J! a& f: i$ f1 h
August, activity resumed to the busy pace previously seen in the spring
4 B) ^. V) `) l% E8 p. N  t6 l  n: ]+ bmonths, as the influx of purchasers made it more difficult to find a home due2 _' N8 ~4 K; R1 q1 i% w
to the shortage of available inventory.
5 N9 l7 Y! q* X& T8 {& q8 D( d: E. [8 S7 _4 N' c$ o
    Activity in Saskatoon remained brisk as the market maintained its2 c0 s8 U8 d2 M
momentum from the busy spring sales period. The economy in Saskatoon remains) ?8 n# G" Z8 W. a' l  i
vibrant, as employment opportunities are abundant with many businesses  G/ Q  x3 t- N0 D+ g9 e) V8 K1 f
struggling to make hires and having to recruit outside the province.' A3 }7 I# L1 y" c& j0 x
8 _' [# S- \) F# O
    Calgary's housing market recorded blazing average house price increases
% a: O) j2 t- [8 Sin the third quarter, in all surveyed categories. The burgeoning economy, low
4 K% H. J# l2 O7 |9 W/ junemployment rates and low inventory levels remained the leading factors that( {3 m8 y; z2 a- q. [7 h* P
pressured Calgary's house prices upwards. However, regardless of the soaring* D- y! X, T( a) r' l- ^
prices that characterized the market - even during the typically slower summer
. E, l! S* H# t/ V* Hseason - it is expected that activity will become slightly more balanced, as. [' k* ?. E7 S$ L6 g2 q1 [# q& P
buyers are becoming more reluctant to participate in the frenetic activity.
) J& f! x" d/ M3 W/ V; Z8 i1 b
0 y6 ]5 N9 E* y  D' y* n5 w9 H$ F
    Edmonton's booming local economy continued to thrive in the third quarter
, f) d% @6 x8 F* `; `2 d) N6 O& ^as activity in the oil sands north of the city continued to flourish. Edmonton
0 F8 |: O) ?9 ]( h8 Y8 W: o$ s+ gremained the hub of activity for those coming to work in the oil industry,
  ^1 G6 A( w0 \4 F( R" d3 |maintaining tight inventory levels across the city, resulting in prices- W  a$ M6 t. o
increasing at record levels. However, as inventory levels continued to improve
5 i8 b, `2 X4 q5 g2 I' D0 zin the third quarter the rate of price appreciation should moderate slightly( A6 w6 Z; O& T6 D
towards the end of 2006.
   
, i% s9 \& [0 o, p5 A- s" x) p0 K; }7 Y/ s% {7 ^, i; I9 ?& a
While Vancouver has seen a slight reprieve from the severe shortage of
. }# E$ H: _: _! e' |  r& ]inventory that had previously characterized the market, supply is still unable6 z7 x% V4 R5 L5 t
to meet demand, driving house prices upwards. Vancouver has a very diverse; H. P1 o. W! @2 L
group of active buyers - from first-time home buyers to baby-boomers to1 o7 T  v& q( \3 h! m
foreign investors - all of whom fuel the demand for houses, placing added* [) h5 ~) A# v1 k
pressure on tight inventory levels.! Q. ]" d; N# h
' s( ~+ `$ W! J: ?2 P  k( L% w" z/ J
    Victoria's market is vibrant and supported by strong economic+ b" X; I4 \8 u) s
fundamentals, fuelled by a booming tech sector and a migration of young people9 [9 V5 W  m- Z& s2 k
into the city that has continued to support the area's house price increases;
: F1 }5 C& q% B3 S# `while increased inventory levels have afforded buyers more time when searching' u+ X$ D& d! R9 h' V% Y' K
for a home, helping to normalize the market's pace./ {. l* H5 q5 V# y3 N% N
  l6 N* _( j6 f2 Z! A7 y% L: O
    <<
4 c% p+ I, [+ N: H      Survey of Canadian Average House Prices in the Third Quarter 2006
7 Q# x9 e* s* c' }
. Q5 n3 B2 W, X% p0 X    -------------------------------------------------------------------------
4 h0 ^) M, X  N/ Y) V) n, {                 Detached Bungalows                Standard Two Storey
% w) z( l* `  G( J1 v1 H$ y$ D/ d    -------------------------------------------------------------------------
  z* M  a0 y+ s% J                     2006 Q3     2005 Q3    Bungalow     2006 Q3     2005 Q3
& O: W7 l4 F! o( m2 U8 Y    Market           Average     Average    % Change     Average     Average
  _8 E' t. X! J6 x* t( ^' C    -------------------------------------------------------------------------
2 H0 d' U) z/ M    Halifax          186,333     173,333        7.5%     198,667     199,000( i' r" d  Q) t* c0 L+ g6 K
    -------------------------------------------------------------------------+ Y6 \# n% r. v0 N2 O( t
    Charlottetown    145,000     141,000        2.8%     175,000     170,000, C& B! I3 E" \. H% C+ i8 D* _; Z# P
    -------------------------------------------------------------------------
+ }& X8 u! S- }6 w& a- X$ k    Moncton          135,000     127,000        6.3%     129,000     123,000
4 k6 T1 R/ ^$ Q2 N# @8 D  [    -------------------------------------------------------------------------
1 w. N; R9 j6 j* B$ t    Saint John       141,200     142,900       -1.2%           -           -
- E2 E1 p* q9 m* }: I    -------------------------------------------------------------------------4 ]& s3 l& K' Q" k% u
    St. John's       143,667     142,667        0.7%     200,667     202,333
& p: d% w8 ~# I7 V" P) _# H    -------------------------------------------------------------------------/ T' P5 F% {" X' T/ \
    Atlantic         150,240     145,380        3.3%     175,833     173,5835 P2 u! r# P- l2 J0 l$ h1 I/ N3 v
    -------------------------------------------------------------------------
5 U! ^3 i3 S3 M0 T. x    Montreal         213,691     203,500        5.0%     321,141     316,185
8 F0 @2 D. h8 L" c6 ?! h% b    -------------------------------------------------------------------------4 d+ c5 q. f4 @1 {: c
    Ottawa           290,083     278,417        4.2%     285,667     273,2504 r+ @' l- d/ M# Z7 @% @
    -------------------------------------------------------------------------
, E" P( Y& u" |* X1 h    Toronto          373,368     355,882        4.9%     481,523     474,766, u% M1 x! P4 F; P/ c. T
    -------------------------------------------------------------------------
7 K* p4 y7 h3 S8 h. T" X2 z    Winnipeg         181,579     159,860       13.6%     202,337     180,707) _. ]& r- t' a1 E6 E9 J
    -------------------------------------------------------------------------
. e" p. ], i0 Y    Saskatchewan     170,667     156,083        9.3%     182,600     166,500
! @) |( M& y6 x/ K  D7 B* n' ~6 h    -------------------------------------------------------------------------
, Y/ D; A* {* x- t7 L    Calgary          395,067     252,411       56.5%     405,778     264,389
7 j/ h0 q% q7 H3 X  h    -------------------------------------------------------------------------% X& f% k( m( }8 [
    Edmonton         286,857     194,857       47.2%     316,429     206,7147 h( t$ Q: p( H0 `1 ~6 p4 j" D3 o
    -------------------------------------------------------------------------3 ?; v& j' I5 r( D* {$ i3 s. G
    Vancouver        704,250     601,000       17.2%     794,000     697,500! q) r" S' d5 _" {0 R
    -------------------------------------------------------------------------4 _0 ?7 ?* ?. e2 |; l: h
    Victoria         375,000     348,000        7.8%     403,000     391,000! x) @' p$ M" q7 |, p% l7 E
    -------------------------------------------------------------------------$ y1 h. a/ }5 X8 V! p4 a
    National         300,365     258,202       16.3%     365,380     322,860. Z3 U3 H0 A1 T& q6 x9 ?) o+ r
    -------------------------------------------------------------------------
! ]! [, `1 h/ J+ t- }7 h0 ~
) x* N5 f; Y1 T5 R" Q8 R; ?5 D    -------------------------------------------------------------
% W; a5 h. a+ e+ m9 N7 r# i5 y                               Standard Condominium5 s# n9 h9 k. b* {( [9 n& u1 m, `
    -------------------------------------------------------------
# C' W; A5 T4 S. @/ t& T                    2-Storey     2006 Q3     2005 Q3       Condo7 y3 W4 L7 p# P3 N7 X, J' s+ S
    Market          % Change     Average     Average    % Change$ ?& Q7 e  @- P6 d/ x
    -------------------------------------------------------------
- G+ O$ D/ N. q. l4 n6 w6 k    Halifax            -0.2%     142,000     103,000       37.9%! S* n" S) P4 \% H* r. Z* \
    -------------------------------------------------------------- z. K( m1 C+ \! T
    Charlottetown       2.9%      98,000      98,000        0.0%5 E9 ~% J% U2 [# M& _1 C
    -------------------------------------------------------------
& z! L; u3 X, c4 f8 h9 M# r    Moncton             4.9%           -           -         N/A
9 j- K0 I+ D/ R% o5 T    -------------------------------------------------------------
( L* u/ l3 {% n5 Z. L1 a- T) O7 m    Saint John           N/A           -           -         N/A
7 J9 Q7 w* y0 z' ]# Z! Z3 ]    -------------------------------------------------------------5 k& \. g0 E" L# `+ P) M
    St. John's         -0.8%     146,333     145,667        0.5%8 T3 c6 w8 Z1 L4 |/ s" ^2 |* h
    -------------------------------------------------------------
) o0 S& S5 Z- e5 H+ c    Atlantic            1.3%     128,778     115,556       11.4%6 w0 J, h/ X! C; r
    -------------------------------------------------------------
! ]' f8 w$ ~: M    Montreal            1.6%     193,190     188,016        2.8%
( o$ y7 T4 V2 p& ?    -------------------------------------------------------------( z- R( I, Q4 [: h" q# W9 ^  Q
    Ottawa              4.5%     181,083     172,250        5.1%5 u% J; Z% \2 X. X
    -------------------------------------------------------------" g1 ~% I2 R; [9 ]. X' m* w( W
    Toronto             1.4%     252,088     242,918        3.8%
% }0 \8 Y+ q2 T# N1 M* q( _: }    -------------------------------------------------------------- O; k! M7 G; {4 p
    Winnipeg           12.0%     105,648      96,008       10.0%' c% {7 v' D7 Y; O2 ]
    -------------------------------------------------------------0 a- g5 U# S8 \
    Saskatchewan        9.7%     106,250     101,000        5.2%
# U8 x, X& O' F) u% N! \    -------------------------------------------------------------# }4 n! E" F' q' Z8 j4 R* h
    Calgary            53.5%     245,844     153,867       59.8%( C+ \* K# S/ f- G
    -------------------------------------------------------------
7 F  F- c$ N/ \2 o  o' E    Edmonton           53.1%     200,433     131,500       52.4%" d* S# ]% t. \7 E
    -------------------------------------------------------------  p0 F4 r# T3 I4 ~- ~4 F
    Vancouver          13.8%     366,250     323,250       13.3%
* n7 A1 \! i  ]    -------------------------------------------------------------
: Y) f0 `9 P5 ?0 ^4 h    Victoria            3.1%     229,000     220,000        4.1%" [0 `9 q) z* T6 h! {
    -------------------------------------------------------------9 p! r: g6 F; i8 Y
    National           13.2%     211,562     185,296       14.2%
# Q9 |/ V* ?8 l% J9 f    -------------------------------------------------------------
. l( ]% P* X& ~6 [/ D    >>5 y6 t2 \" K0 ?2 ^7 @5 t, U* W6 o1 ?
5 b/ O" f% z. K! A5 [' k; J
    Average house prices are based on an average of all sub-markets examined- r6 A, e; L5 F) M6 J! q
in the area, except for the smaller markets of Charlottetown, Moncton, Saint
, C) M# o3 I. I& `- cJohn and Victoria.
5 P3 l' o7 |; S5 m* N, d$ ~$ n, x8 b# w' t( o8 ]* x
    The Royal LePage Survey of Canadian House Prices is the largest, most# f4 d+ _2 m2 n
comprehensive study of its kind in Canada, with information on seven types of' u+ D3 h: ^7 m; |
housing in over 250 neighbourhoods from coast to coast. This release
7 [( |& z1 X0 Y( Z8 m" n: t, `. C+ freferences an abbreviated version of the survey, which highlights house price- l1 V- a/ b/ E& U, @. W, k
trends for the three most common types of housing in Canada in 80 communities
  e& b; l' t/ xacross the country. A complete database of past and present surveys is4 Q" @/ f9 S: ]4 _# h9 V
available on the Royal LePage Web site at www.royallepage.ca, and current& W- M9 D- Z% M& I# n
figures will be updated following the end of the third quarter. A printable
1 P% l# n- s$ A7 N! O( ^version of the third quarter 2006 survey will be available online on; N) \/ n& h4 {( R
November 15, 2006.
; {+ `$ h% I: V    Housing values in the Royal LePage Survey are Royal LePage opinions of$ m1 g, @* z' P. j4 p
fair market value in each location, based on local data and market knowledge6 e" C* _3 S' e% q: y; Z# W$ ?
provided by Royal LePage residential real estate experts. Historical data is) J" A4 _( [$ R% x0 z
available for some areas back to the early 1970s.
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