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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
' D" c6 O# b3 T# ^/ t1 V! L/ I, L; t# ]% V
- Country's market poised to show growth throughout 2006 -
& P0 i* s7 {- `- c: ^% c1 N% [1 D" d6 E! u- J. w
    TORONTO, Sept. 28 /CNW/ - For most of Canada, the housing market
' C3 d# h8 o) m" Pexhibited moderate price increases and stable unit sales during the third
: W/ h5 B' F% b5 |5 w- Lquarter. Wide regional variances continued to be the dominant characteristic6 b/ ?0 b( r# o7 `
in the market, exemplified by frenzied levels of activity and double digit0 P: q0 H7 \9 S# a  t
price gains observed in the energy and commodity rich Western provinces, and  J$ [( I  d* Z  ]7 F; f' m* V- ]
more reasonable sales volumes and moderate price appreciation in Ontario,0 N; g. [8 {# b
Quebec and Atlantic Canada, according to a report released today by Royal0 O' O) Z6 L6 I% `) ]5 v* k" r
LePage Real Estate Services.
0 x  U% S: ?2 Y% R, [# s
  K" B* S' y- P* i    Nationally, market trends established through the first three quarters: P3 s7 [4 {+ \, `9 `! V3 j( J  V
are forecast to continue for the remainder of the year. Robust economic
" r  p2 p! I5 z  ?1 j  aconditions, low unemployment rates, modestly growing salaries and wages, and2 G  y: v( e/ }8 ?6 w
sound consumer confidence contributed to the overall strength of the
0 Q, a7 k8 U2 B% k3 Rresidential real estate sector.
! k; A" m( @0 V# _  A# o5 E" U/ f; h
0 m" j" t9 P4 h: ^( R/ F3 ^7 x0 ~    Of the housing types surveyed, the highest average price appreciation/ Z2 V' \7 W4 o0 f
occurred in detached bungalows, which rose to $300,365 (+16.3%)
4 ]5 C+ e( E: V( M3 z9 byear-over-year, followed by standard condominiums, which rose to $211,562
- ]1 ^% ]: {" W(+14.2%), and standard two-storey properties, which increased to $365,380) n; s, k2 q. X, H
(+13.2%).
+ g  H1 l) B9 p9 Y/ o' L
2 ]! Q) x* e, W* N2 z* N: j  E    "Canada's sturdy housing market continued to demonstrate steady growth
6 g0 R$ |3 B! G# T  ?' R! [6 y% lduring the third quarter. For all but the west, we have moved on from the
/ }1 l% w6 R% K0 H! Q# X# qfrenzied expansion that characterized the first half of this decade, and are/ `, w9 |- a# C/ a4 ~7 X/ h1 T
poised to show continued growth at a more moderate pace," said Phil Soper,! Y! S" h' y* R7 s
president and chief executive officer, Royal LePage Real Estate Services.1 m+ h) W7 \9 Q; _- W
"Gone is the sellers' market that we have lived with for some years. We
7 I% u9 A) k" o7 c1 M( a! z# ~welcome the more reliable conditions that are characteristic of a healthy8 f9 K3 c% r% {0 q! {0 c& h# f
balanced market."1 I' P0 q4 j3 M$ e; p, t

6 k7 T2 U: T* c$ O$ P    Despite the double-digit rise in average national house prices,) S2 I: s7 ?7 \8 l* }' x
considerable regional variances were exhibited again this quarter. The shift
5 Q- c. N/ \. E; oto balanced market conditions, which began in late 2005, has continued
( z8 D2 V; _. L- _. W- }, p8 xthroughout most of the Central and Eastern regions of the country. In the core
7 _. i, o! y2 f+ V; P6 _9 c( ~energy producing western provinces, the combination of very high in-migration,
6 N- J7 U( ?1 smanageable affordability, and a shortage of inventory has driven record
* @/ [; m. y1 U! Cbreaking price appreciations.$ d5 [) U6 K7 ^0 S

3 D  I1 @( v6 |    Echoing the second quarter and supported by Alberta's rapidly expanding
) V) g& v4 N& \/ I$ `/ M7 J- b9 Aeconomy, Calgary and Edmonton led the charge of Canadian cities with the/ Z% _6 _, ?  ?; V
largest house price appreciation in all housing types surveyed.
. N2 U/ @$ S) c( D/ O2 y% e3 C# ~  ^0 b  d
    In Ottawa and Toronto, growth remained steady, supported by solid
6 m) g5 i$ R8 zeconomic fundamentals, an increase in available inventory and strong consumer
4 Y. H8 K# ^/ {2 H$ w2 C6 I& jconfidence. While the pace of price appreciation in Ontario leveled off$ d. S+ d3 a/ S* ~: ?" S0 G
slightly, the province's real estate market remains poised for modest growth.
$ n/ f. p( q4 g/ B7 v& V$ W0 l/ @/ |2 `3 HIn Atlantic Canada, new housing and condominium construction offered buyers
6 f3 E- k, Y4 _# qgreater selection at more competitive prices, resulting in a slower rate of/ E: z7 u( H. i1 j. [
price appreciation when compared with 2005.
8 M6 k  h) k- [  H
* z% `9 |: Y! S( w9 i4 n    While the pace of growth in Canada has slowed, the domestic housing0 }: I* \% ?( D6 c6 r5 i) @: @8 V
market is expected to outperform the American market. The economic and
$ [; H6 U; Q* s- {3 c) g) ^% z5 Yfinancial fundamentals driving the residential real estate sector in Canada
  S# H. S6 a% i5 s1 ~are markedly different than those found in the United States.( b6 c) h2 {6 k

. M& v, \( i5 C7 G/ z4 {: j    Added Soper: "Canada's housing market is likely to outperform the1 A. e/ |' ~( ?0 Z
American market through 2007. A number of factors are working in Canada's* r. h7 x* w  P9 t
favour, including healthy personal and governmental debt levels, the, b" _5 \+ x; _
relatively modest rise in interest rates in our country, and general; S; K+ a7 m- h6 D& D- B
affordability in our major cities. In addition, Americans are now seeing the
5 e6 e0 d. a2 U% u$ L0 ]downside of a tax system that encourages maximum homeowner leverage, and, F. }$ M: l) o& |6 d
aggressive financial products such as zero- and negative-amortization% D$ p) C0 V. L. g- G; ^
mortgages that work only in a high price growth environment."
( Z- n$ v8 ]: T( D3 n3 L$ _
$ u! `$ X, J0 N2 X, j    <<
5 ~" i" x# r9 V( `. Y3 q$ p2 N                             REGIONAL SUMMARIES1 Z/ N, a4 |) O4 O
    >>
- v' F/ O+ L6 V- P- D7 D! \% ~1 i& ~* ~# u
    Balanced conditions continued to characterize the housing market in& [8 A% o% i' {  L: m6 a$ d0 d
Halifax, as significantly higher inventory levels helped to moderate the rate$ s9 W4 \6 m" i, [4 ^8 K
of price appreciation. Buyers were increasingly choosy, taking more time
0 R+ Q  g3 M# ^* [! ?looking for newer, low-maintenance properties that were not in need of
+ U2 L+ ^7 k' h- Hrenovations.
. J5 v% Q% Y1 P/ W/ I/ T+ v  k: \* J; m4 n6 P" V) H& g. Z. _
    The housing market in Moncton remained healthy and strong as a slight
: w( V$ r, f) U, ?increase in inventory helped to moderate the rate of price appreciation) x! _  `+ w7 K8 p
compared to the same period in 2005. Activity was brisk throughout August and; {7 W; Z( a& r3 H+ R3 {5 e0 V
September and is expected to remain this way through the fourth quarter.7 [4 r, T  `( s( j2 P  r$ Q
0 a( T8 F8 u, G8 n% }: n+ F) n- R
    The housing market in Saint John underwent its traditional summer! w" T( g$ r5 V  V- K/ _
slowdown in the third quarter, with activity picking up towards the end of the
: g* q2 m" ~% B! r  ~" ^5 U( I" pquarter. The local economy continued to thrive, as construction on a new  m6 _" [  I) V/ g
600,000 square-foot shopping area has begun, bringing several new box stores
% i" i% B( s) `$ r- b  Ato the area. Buyers have begun seeking less expensive fixtures for their homes
/ `$ d( }! M# U; o+ uand are instead opting for more affordable housing options.
  t1 W* l$ q8 y! r; i8 U7 k. ]+ L& v. d0 ^, t; o& \" g/ X
    In Charlottetown, the housing market started to move towards balanced7 m* t. r7 C  ~- q- H& h
conditions, as some sellers had to begin to lower the asking prices on their
1 j. N2 G: T9 @+ Y1 W- p9 F( Rhomes to make them more competitive. Activity from out-of-town and US buyers
$ w6 B- u1 ]9 v( ?was down slightly compared to 2005, likely attributable to the strong Canadian
8 @- u) F9 I% @& @dollar. Inventory levels began to creep up in the third quarter, providing
3 F/ k( s7 z6 S" T5 F7 q/ m3 Lbuyers with more options when looking for a home.
" @$ H, M0 H. i* d' u0 c% t* e& z! a/ L7 Q( ~8 l# H
    Activity in St. John's slowed slightly in the third quarter, particularly/ [5 }$ G. r+ b2 H
among higher-priced properties, where there was a slight over-supply of homes
3 B$ [9 i$ Z% E& S) ]+ R8 w( npriced over $200,000. Listing periods have increased when compared with 2005,8 ?2 s+ l" P! Q
as some of the pent-up demand that had characterized the market over the last
- Z( t7 b5 O; h+ h0 P# gfew years has been satisfied, resulting in more normal, balanced conditions.; c2 z- e* u9 P: U/ u
- H. Q( J" a* F9 k
    Montreal's housing market recorded modest increases in average house4 M9 e3 J& }$ H. z- ?
prices, due to a slight seasonal slowdown in the third quarter as inventory
2 C. G' a7 ?! ulevels rose. Part of this can be attributed to the fact that many renting
% ~. c. `. o& J+ @8 \2 Xfirst-time buyers were motivated to close on the purchase of a home by July 1,
2 O& \8 Z: s3 G  ~( k/ Fwhen rental leases expire in Quebec. Once this date has passed some of the
, k7 \8 h* T# q% c. E3 a7 \4 Tpressure is taken off the market, allowing buyers to visit more homes before9 i8 G" B$ P% d) f; X1 B4 \+ \. V
making a purchase./ {  [) b$ x+ }
( W8 w% B' b& r. O9 T7 d" S. a
    Ottawa held its position as one of the country's most stable housing9 h% b( W  J. y6 E
markets in the third quarter, reinforced by a vibrant local economy and strong) l. S# c5 j/ S  U" I: \; Z
confidence, resulting in modest increases in average house prices. The city9 ^, p# w) M1 e" f' A: b
centre remained a bright spot in Ottawa, with homes in this area attracting
! n7 u- n7 L( x& E( J0 C4 G$ Vattention due to their convenient location and proximity to downtown/ O% }2 ^8 C. _0 Z+ }
amenities.
6 Z( ^$ ]6 l( Z6 `6 M/ _
% `. T) K$ ^) b9 P+ K. N    The housing market in Toronto sustained healthy activity levels
8 T/ J  @( I8 J" _# Zthroughout the third quarter, as a strong economy helped to maintain demand
" r/ ?  C+ f) [! U" f9 Facross the city, causing average house prices to rise moderately. Toronto has
. x$ ?# Z& ^/ c4 X0 W) xcontinued to experience modest growth in average house prices, and has been
+ S' b3 ?+ x+ _5 @' ?driven primarily by purchasers who are buying homes as their principle: R( ~# m& s3 h; O
residence, rather than for investment.
  P7 u: O( C: s9 k. f0 y
5 @  j# B4 b* y  O) H    The vibrant Winnipeg housing market continued to show its strength as
  _& ^/ z9 V) E. [house prices rose during the third quarter. The booming local economy resulted/ B9 N4 s9 Z* D+ N) P/ `
in a historically low unemployment rate, helping to bolster consumer' X/ y( _& @' y* W
confidence and Winnipeg's ranking as the city with the lowest capitalization
6 u$ Z2 p: h5 Hrate among the country's larger cities - helped to encourage buyers to enter
9 u7 O9 W# X9 k. k2 cthe market.3 y( d& A4 ^- j
# v+ r8 Q; S, I$ l% W/ `
    In Regina, the market experienced a slight seasonal slowdown through
8 X8 J1 |/ z" R5 }0 jJuly, as there were fewer purchasers in the market due to summer vacations. In5 W6 ]% t; p2 A, z/ c
August, activity resumed to the busy pace previously seen in the spring
% {% `* d) X& |9 Y2 xmonths, as the influx of purchasers made it more difficult to find a home due
/ a, p! s, T: `/ E1 {) k* P7 J5 Fto the shortage of available inventory.
8 x, e! c4 c9 Y, ~! _' T3 c; V
6 ^1 B  c2 O/ I. h3 X( ^1 @! x    Activity in Saskatoon remained brisk as the market maintained its
. F) v' h( R/ vmomentum from the busy spring sales period. The economy in Saskatoon remains2 X+ q: a) {- `5 m" P4 h7 K  c
vibrant, as employment opportunities are abundant with many businesses* u' f/ ^0 p9 e! @" V5 q4 P( J
struggling to make hires and having to recruit outside the province.
! N# r, I7 R) z/ j: u
2 R) p* X" h8 {9 n" K9 f  ]* B    Calgary's housing market recorded blazing average house price increases
+ ?' a' x8 ]( U4 J- Ain the third quarter, in all surveyed categories. The burgeoning economy, low& B+ v" L! P, s) x% o1 r
unemployment rates and low inventory levels remained the leading factors that
) ]4 c$ p) P; [0 ^& Bpressured Calgary's house prices upwards. However, regardless of the soaring+ g9 X* G& h+ L4 T/ ?' k* {  l& M
prices that characterized the market - even during the typically slower summer& F* @. C$ _; ^, |+ g
season - it is expected that activity will become slightly more balanced, as
, G' e$ z$ V& y7 kbuyers are becoming more reluctant to participate in the frenetic activity.
; o+ Q; b% N1 c% J6 j
+ m4 r* C) ^; W
    Edmonton's booming local economy continued to thrive in the third quarter
" E0 N3 B8 w: n0 i3 Y/ L1 Y% [as activity in the oil sands north of the city continued to flourish. Edmonton; G+ u2 ~4 q% n7 `  u7 x
remained the hub of activity for those coming to work in the oil industry,
5 z2 [" o, P3 x9 ]9 lmaintaining tight inventory levels across the city, resulting in prices* @4 S  W1 v; O/ e. H' U
increasing at record levels. However, as inventory levels continued to improve
: m; y' ]8 I; `6 `1 fin the third quarter the rate of price appreciation should moderate slightly
/ C& ?& `% D$ S9 x* L. w( K6 ptowards the end of 2006.
   
) G' |7 q- W( I, J  i- N' D
: g  ]5 s% z, {! d1 UWhile Vancouver has seen a slight reprieve from the severe shortage of% x( g$ X0 R1 ~7 B0 V' l1 \
inventory that had previously characterized the market, supply is still unable
2 ~$ U0 J9 E- Vto meet demand, driving house prices upwards. Vancouver has a very diverse
! j' A' ^- o/ j* ^9 M3 q7 Pgroup of active buyers - from first-time home buyers to baby-boomers to
& Z& ]* k7 S9 i' P: b2 c, Eforeign investors - all of whom fuel the demand for houses, placing added
' n% q* Q5 U' x# h0 u. a) n: s& Spressure on tight inventory levels.
1 m1 f+ z8 e: n( q9 c% j1 R% Z* C  R, A
    Victoria's market is vibrant and supported by strong economic
0 x. m# b$ g3 g% Kfundamentals, fuelled by a booming tech sector and a migration of young people- D! H2 [' K" }
into the city that has continued to support the area's house price increases;
$ c' I8 _* Q7 \7 m- l8 ~4 ^' Nwhile increased inventory levels have afforded buyers more time when searching* O- y& ~8 J$ E) x- |- j
for a home, helping to normalize the market's pace.- L; j, O: n& w# U' X6 D( O

8 F& K! H: ~2 t4 t! N& _3 W/ @    <<1 X9 z6 ~- d$ ]0 ?
      Survey of Canadian Average House Prices in the Third Quarter 2006
% R) ~; |. b7 O: J
& H9 j9 V2 E) @! Y( K$ o% P    -------------------------------------------------------------------------9 m4 f  x& D. [  `
                 Detached Bungalows                Standard Two Storey5 f& y4 M! n& e/ e  L2 u
    -------------------------------------------------------------------------
) Q2 j- u- h" X4 @. U                     2006 Q3     2005 Q3    Bungalow     2006 Q3     2005 Q30 J( T9 j! J/ o* b! @! R
    Market           Average     Average    % Change     Average     Average
/ H; C' @# p; j9 J0 B/ P0 Z) v    -------------------------------------------------------------------------
* y0 r9 [  L3 y    Halifax          186,333     173,333        7.5%     198,667     199,000
6 b; v- S- H3 _0 @7 s: ^7 ?    -------------------------------------------------------------------------
4 j% H1 J% M2 h2 h5 m8 p6 J    Charlottetown    145,000     141,000        2.8%     175,000     170,000
  ?8 Z  q9 V) U- N    -------------------------------------------------------------------------; B9 b; @+ R! @+ `, ~
    Moncton          135,000     127,000        6.3%     129,000     123,000' q  F& n2 ^/ F
    -------------------------------------------------------------------------; M. q) p7 g: o' l$ H2 f5 A* x
    Saint John       141,200     142,900       -1.2%           -           -3 F9 w' d) r* ^" s% f: w
    -------------------------------------------------------------------------% A) E) q  s" T" K7 a9 [+ P
    St. John's       143,667     142,667        0.7%     200,667     202,333; R9 ?" h( s+ U2 f
    -------------------------------------------------------------------------
! N. u) g4 C3 ]) o$ {9 G    Atlantic         150,240     145,380        3.3%     175,833     173,583
9 q: {/ d4 A- [7 R  _/ f$ I    -------------------------------------------------------------------------3 R, D* ~2 B& I# t
    Montreal         213,691     203,500        5.0%     321,141     316,185) b7 v  l+ r: X0 e# h: z
    -------------------------------------------------------------------------0 v6 L) D% F  y) h& }  y+ ^
    Ottawa           290,083     278,417        4.2%     285,667     273,250+ z; c# [% t9 N7 r
    -------------------------------------------------------------------------
1 ^# h+ l- x) ?: U- h    Toronto          373,368     355,882        4.9%     481,523     474,7668 X# _: t8 e# w- i
    -------------------------------------------------------------------------  h: F8 V- O4 I1 {% s/ z
    Winnipeg         181,579     159,860       13.6%     202,337     180,707$ x7 ^  U+ L1 _* \& b6 o
    -------------------------------------------------------------------------2 l1 Z" Z. E* j1 A
    Saskatchewan     170,667     156,083        9.3%     182,600     166,5001 J# t$ W- \( Z7 m# x
    -------------------------------------------------------------------------8 {  ?1 T5 D9 z
    Calgary          395,067     252,411       56.5%     405,778     264,389, D' N. I* X( m8 s  R- j
    -------------------------------------------------------------------------" {% @$ R( Y% H6 }6 N+ v
    Edmonton         286,857     194,857       47.2%     316,429     206,714
3 K$ H7 y* [# g8 B+ P1 I    -------------------------------------------------------------------------8 ~2 ]+ J6 B" P3 F" Q
    Vancouver        704,250     601,000       17.2%     794,000     697,500% r' ~5 V; b3 \" m8 o
    -------------------------------------------------------------------------
: H# R& |; c) U1 w    Victoria         375,000     348,000        7.8%     403,000     391,000+ N  \* I; y' n& H
    -------------------------------------------------------------------------4 H2 ?& W' o: X' B/ ~
    National         300,365     258,202       16.3%     365,380     322,860, T  C4 J1 S$ E' c$ D- \/ G2 E- c
    -------------------------------------------------------------------------: N& e: h* y1 R5 [- F

' u$ L- C2 D0 T% n5 p3 x6 S    -------------------------------------------------------------- I* K! [" A0 K  ^4 U+ y( ~
                               Standard Condominium
/ p7 G5 Q7 K: O1 Q7 v; R9 @    -------------------------------------------------------------7 H5 Q/ q) a1 J" d7 m4 t5 g
                    2-Storey     2006 Q3     2005 Q3       Condo
* H9 X' x# D$ t2 W& E/ u    Market          % Change     Average     Average    % Change0 ?' ^+ E! G4 n! c0 l! b! y
    -------------------------------------------------------------
3 u; R$ J( x6 M7 F) c1 D2 ]    Halifax            -0.2%     142,000     103,000       37.9%  u+ Y4 R: p8 u! T
    -------------------------------------------------------------
) C/ D$ p! S7 Y/ t/ p0 k* f# \    Charlottetown       2.9%      98,000      98,000        0.0%
, N+ W' C/ k/ b/ q  q  w8 r    -------------------------------------------------------------6 K9 o- J- }2 q  O7 N- t
    Moncton             4.9%           -           -         N/A
' o3 `4 U8 \( c9 S% }: J) M( m    -------------------------------------------------------------0 `9 Z: ~4 ?! [# y
    Saint John           N/A           -           -         N/A
4 \4 [# X" g$ j8 D    -------------------------------------------------------------
0 u  D/ N; B+ m2 @    St. John's         -0.8%     146,333     145,667        0.5%
/ Q" f/ I3 m( F* b0 x+ V' B    -------------------------------------------------------------
! E; q6 G5 p  K* j9 U' ?    Atlantic            1.3%     128,778     115,556       11.4%
1 x/ Z- v4 T2 d* [% i3 {    -------------------------------------------------------------
# [! r" o) L* J    Montreal            1.6%     193,190     188,016        2.8%
/ p6 y8 h) q# {$ n( a' u% N1 ~    -------------------------------------------------------------: e6 v3 ]- A8 p) v
    Ottawa              4.5%     181,083     172,250        5.1%) ^+ z1 l7 S# h: b4 T9 o: W
    -------------------------------------------------------------
/ P1 D+ I2 w8 s  `& b0 m    Toronto             1.4%     252,088     242,918        3.8%0 _" `; v# E; i& \  H$ z$ q
    -------------------------------------------------------------
7 e; v) a) ^: n    Winnipeg           12.0%     105,648      96,008       10.0%
% G+ s) N! h/ E+ b9 V    -------------------------------------------------------------
; G+ o% U" [' V. u+ y( I! Y- X    Saskatchewan        9.7%     106,250     101,000        5.2%
( q2 u6 `  `7 q9 d4 z( {4 r    -------------------------------------------------------------& v# [7 p6 a; t# ^2 |( ]5 g5 n
    Calgary            53.5%     245,844     153,867       59.8%. H; J5 C4 \2 Q: T
    -------------------------------------------------------------
2 {/ a: i, w5 z" E9 F( z2 g4 G    Edmonton           53.1%     200,433     131,500       52.4%! r* O. `( @+ i- ?! ^' Y7 v- @
    -------------------------------------------------------------
- I; H5 D1 B: ~7 c' d! _4 H0 k    Vancouver          13.8%     366,250     323,250       13.3%7 [3 _% W* K4 n! X
    -------------------------------------------------------------
0 b, H% @5 V' q9 n1 j" O    Victoria            3.1%     229,000     220,000        4.1%
: O+ H; k# Q/ T0 B- n    -------------------------------------------------------------$ f* z( |, O8 x- y4 T% W' o3 U- O
    National           13.2%     211,562     185,296       14.2%5 }2 |& e9 H6 k8 j6 w
    -------------------------------------------------------------
9 Y6 F7 v, ^( y, J: K0 e% _    >>
" D9 L  n4 Z1 V1 v& ~4 _3 x, u9 z$ l) ]- `
    Average house prices are based on an average of all sub-markets examined& v  {, }; e0 j9 u
in the area, except for the smaller markets of Charlottetown, Moncton, Saint  W5 l$ c( Q! a% I9 t& r0 U
John and Victoria.
! @. ~1 j( }8 M0 g
" ~8 E0 {7 B; y2 c' J, {( t' S6 s1 X    The Royal LePage Survey of Canadian House Prices is the largest, most
4 k' A& y; S/ e' Tcomprehensive study of its kind in Canada, with information on seven types of
4 b* _* r6 D' |9 khousing in over 250 neighbourhoods from coast to coast. This release
8 K. H0 ^9 s" x$ F" H2 G, creferences an abbreviated version of the survey, which highlights house price
2 d& Y- |8 a: p1 G3 K2 E9 Ntrends for the three most common types of housing in Canada in 80 communities7 J$ T$ v# _, Z, h
across the country. A complete database of past and present surveys is$ u; G% F. y: P( B. y
available on the Royal LePage Web site at www.royallepage.ca, and current" u0 ]* Y# H4 E5 H  k! L. I3 _* e0 {
figures will be updated following the end of the third quarter. A printable+ D7 p8 U) p$ l0 z# ^1 r, q( q
version of the third quarter 2006 survey will be available online on6 b( o: M5 c/ j* `7 P+ V( D  x
November 15, 2006.4 O% N6 }) n1 b3 {2 w. a
    Housing values in the Royal LePage Survey are Royal LePage opinions of
% q5 l" w  M  a. P7 Mfair market value in each location, based on local data and market knowledge
1 X; Y. j) C: O4 x/ R: Qprovided by Royal LePage residential real estate experts. Historical data is
0 f1 u  \7 e9 Iavailable for some areas back to the early 1970s.
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