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Canada's housing market both vigorous and stable & o; Y& Z s0 S! ^3 k$ Z; F
( M4 n% y' w: B% U- Country's market poised to show growth throughout 2006 -3 n O/ n6 E5 I. v# @
# m7 m; }+ M0 U4 K/ u% _' R
TORONTO, Sept. 28 /CNW/ - For most of Canada, the housing market
2 _, a9 e3 L* K% T- p1 _exhibited moderate price increases and stable unit sales during the third# H4 _& ?, |2 H2 v8 C- W- B: x- ^
quarter. Wide regional variances continued to be the dominant characteristic
# ~+ m0 r+ p- J: @! }in the market, exemplified by frenzied levels of activity and double digit
, e1 E& V, M9 ~& v/ D& ~8 Sprice gains observed in the energy and commodity rich Western provinces, and7 L* g8 H2 P$ y h# S$ ~
more reasonable sales volumes and moderate price appreciation in Ontario,
( z5 r# i- ]7 ~/ E4 MQuebec and Atlantic Canada, according to a report released today by Royal
0 s/ p# {6 S# {: RLePage Real Estate Services.
: j& `1 U7 h2 S2 {4 ]: h; I8 H7 e/ k, h% ?. [1 C$ H+ @
Nationally, market trends established through the first three quarters
; E0 F: L; I, Z- s9 lare forecast to continue for the remainder of the year. Robust economic! _6 J$ k& ~! X+ M
conditions, low unemployment rates, modestly growing salaries and wages, and! e# P% n4 _2 J; i, a( K
sound consumer confidence contributed to the overall strength of the8 y8 ~5 [7 k* Z- d
residential real estate sector.
: b; |/ D, `: J- G/ c0 B! k" z$ o8 g5 Z! H
Of the housing types surveyed, the highest average price appreciation8 K, T/ Q3 X& M9 |$ K
occurred in detached bungalows, which rose to $300,365 (+16.3%)1 [4 `% F$ ?+ {. z* w
year-over-year, followed by standard condominiums, which rose to $211,562
, J; V- \6 b: n* j$ O0 D(+14.2%), and standard two-storey properties, which increased to $365,380
8 c% |8 {. T: q' ?5 ](+13.2%).
; k6 O. f' F: _0 n! S
0 {$ m, Y6 p/ H1 U: b& o8 V "Canada's sturdy housing market continued to demonstrate steady growth7 [, @9 j* S* p2 E# i8 {3 S. @
during the third quarter. For all but the west, we have moved on from the
9 X) O( w) p& A2 pfrenzied expansion that characterized the first half of this decade, and are
5 k/ ?& W9 y- Y8 m& H0 Hpoised to show continued growth at a more moderate pace," said Phil Soper,
0 T3 i' Q% p& B$ A4 D: A0 ]/ vpresident and chief executive officer, Royal LePage Real Estate Services.& b6 I6 t2 ], e/ |
"Gone is the sellers' market that we have lived with for some years. We
, L* O) H n% ~0 k# a! O" }. U/ dwelcome the more reliable conditions that are characteristic of a healthy+ D6 ^0 i9 s" A' N3 f
balanced market."
% s$ U& F$ C* ?" @, h( z
5 h. O+ r) r& c5 F Despite the double-digit rise in average national house prices,8 X1 g7 w$ p* S) W' A* `
considerable regional variances were exhibited again this quarter. The shift; w# k& x5 D8 \# U }# m5 e: e
to balanced market conditions, which began in late 2005, has continued
8 \" Y" J& T- T4 }+ Ythroughout most of the Central and Eastern regions of the country. In the core+ N5 D6 @' M/ O' }+ ^
energy producing western provinces, the combination of very high in-migration,; K$ O0 O% ^! a6 S6 o
manageable affordability, and a shortage of inventory has driven record: b# ]' N/ w+ A# H8 G
breaking price appreciations.
% e) x$ r% T @0 b$ P# C' s! |
- T! [* O! a% F; \ Echoing the second quarter and supported by Alberta's rapidly expanding
2 ]' y7 a: A' _" f- t- t q3 w- Teconomy, Calgary and Edmonton led the charge of Canadian cities with the$ N4 R) `/ v! N/ z0 U {5 o) H
largest house price appreciation in all housing types surveyed.
% O. T. T, S2 T+ B4 E, U! i7 F, E% S
In Ottawa and Toronto, growth remained steady, supported by solid
9 i8 `0 |1 @, ]3 k5 Ceconomic fundamentals, an increase in available inventory and strong consumer
; { V$ \3 c, G& t& Q2 I6 Qconfidence. While the pace of price appreciation in Ontario leveled off% Z. X% M$ Z* u, |
slightly, the province's real estate market remains poised for modest growth.
" z8 w2 u$ ^- A6 c( I8 yIn Atlantic Canada, new housing and condominium construction offered buyers! @! ^# O$ V D
greater selection at more competitive prices, resulting in a slower rate of- g) X2 w7 k; B7 t! E
price appreciation when compared with 2005./ ^0 [8 s/ q7 ~# h9 [
6 N- z u* }% f/ |) K3 S+ l) j+ a While the pace of growth in Canada has slowed, the domestic housing. x, m1 \' g5 c
market is expected to outperform the American market. The economic and& S3 J. O4 ]1 r1 Q( }
financial fundamentals driving the residential real estate sector in Canada
9 Z. M$ r' Q# A( {, R. [are markedly different than those found in the United States.
; S/ L# v4 C& P7 C/ D* P X8 ]4 {) w: Y: W) \. f! X( E# N2 T
Added Soper: "Canada's housing market is likely to outperform the
7 P3 X/ r$ Z- s9 Q7 @American market through 2007. A number of factors are working in Canada's
/ C, H. d" M/ J4 Y+ S0 g3 i7 Ufavour, including healthy personal and governmental debt levels, the
. e; r, B z/ p+ }3 B" grelatively modest rise in interest rates in our country, and general
' x$ T7 }2 i D3 R2 C& n; [7 ?affordability in our major cities. In addition, Americans are now seeing the
# I. |4 H! Z( f Adownside of a tax system that encourages maximum homeowner leverage, and
+ F+ Y8 `3 W* S# k$ Naggressive financial products such as zero- and negative-amortization, Y; K0 s7 x0 |9 v/ o( r, r
mortgages that work only in a high price growth environment."6 S, d3 U: N9 a. D7 m
2 e4 F$ ~* y( `( O' [% f$ d' j" A4 @
<<+ J2 n; l: [# F
REGIONAL SUMMARIES% } C& c) W7 A6 m% R" J
>>. `6 N* H5 ~0 l, t* o/ C2 i/ O% ]
5 T; D; c! k; j; ?' K( `4 g Balanced conditions continued to characterize the housing market in
9 E9 Q& ~9 n. o* t- tHalifax, as significantly higher inventory levels helped to moderate the rate
1 W5 Z4 N8 I1 b% R6 ]of price appreciation. Buyers were increasingly choosy, taking more time
& i$ b& x% ~! }+ `6 {) M e( C2 _looking for newer, low-maintenance properties that were not in need of
5 e! l& S( O- }: G, x" Trenovations.4 z9 W% {5 e& X" a- E0 u f3 M$ j! V
# ^" k& X$ f& \' @" P The housing market in Moncton remained healthy and strong as a slight
- }- x Y& m. k' P$ G: Gincrease in inventory helped to moderate the rate of price appreciation# n' r; u- J1 Q" y0 s( C0 ~) R6 e
compared to the same period in 2005. Activity was brisk throughout August and7 A3 E& O6 [) A, [3 |0 N
September and is expected to remain this way through the fourth quarter.
3 A6 F; b/ W+ p; z3 i) }+ F, b9 ^" R6 w3 m8 `0 W8 G. ?
The housing market in Saint John underwent its traditional summer/ \% Z8 i2 S9 f+ ~. @
slowdown in the third quarter, with activity picking up towards the end of the1 ?1 h. u/ F8 u; |
quarter. The local economy continued to thrive, as construction on a new5 N* G- G, b }
600,000 square-foot shopping area has begun, bringing several new box stores" r- `" W, ~* M2 ]7 @
to the area. Buyers have begun seeking less expensive fixtures for their homes
, b C2 R \3 T% O* l, r8 S1 ~8 H6 Yand are instead opting for more affordable housing options./ i4 E: ~1 K' e! X
2 q/ H' J8 @) L: l( H0 [1 e5 a
In Charlottetown, the housing market started to move towards balanced
$ M0 j* w9 L4 z' A0 ?0 @; d% P* ^conditions, as some sellers had to begin to lower the asking prices on their
: w) k" w) E$ P+ w# c8 `+ ehomes to make them more competitive. Activity from out-of-town and US buyers
5 V9 I0 q' N) ~4 Q( rwas down slightly compared to 2005, likely attributable to the strong Canadian% ~) A$ _5 S5 c0 B! s
dollar. Inventory levels began to creep up in the third quarter, providing
1 j6 f- `# b/ |6 Q+ |* t3 sbuyers with more options when looking for a home.& \4 Q' G# Q) B8 u3 X6 F* q
1 C( k! [; r6 E2 a. I& c# R; d9 |6 f' b Activity in St. John's slowed slightly in the third quarter, particularly
( ?4 m3 p9 c1 q8 r9 Aamong higher-priced properties, where there was a slight over-supply of homes
' r" I1 m s: i5 M$ Tpriced over $200,000. Listing periods have increased when compared with 2005,4 c" L; x( }# G: G7 D
as some of the pent-up demand that had characterized the market over the last
3 w4 g+ D6 G8 N6 m- R9 u, g/ Tfew years has been satisfied, resulting in more normal, balanced conditions.
, Q0 _$ w; o% E! W3 g/ u
- `4 |. E3 o8 I. V3 ^* T0 N Montreal's housing market recorded modest increases in average house
9 y) k; A3 l# ~ W% Pprices, due to a slight seasonal slowdown in the third quarter as inventory2 ~1 m1 V) Z! X, J, S) _
levels rose. Part of this can be attributed to the fact that many renting* I n# [% u; k
first-time buyers were motivated to close on the purchase of a home by July 1, b5 b" V) m' \
when rental leases expire in Quebec. Once this date has passed some of the1 I! H) _. E9 C7 W
pressure is taken off the market, allowing buyers to visit more homes before* h* v) }5 r+ [- k. v, P
making a purchase.. l& L3 d) @0 y% D9 [
& Y2 B e( c J1 o Ottawa held its position as one of the country's most stable housing
3 {/ O* }. I. B) {markets in the third quarter, reinforced by a vibrant local economy and strong
+ ?, S; |$ M; I" F6 E5 g( F- ]confidence, resulting in modest increases in average house prices. The city% ?: d7 b% |2 v* i# @, p
centre remained a bright spot in Ottawa, with homes in this area attracting
8 W, h [& W6 y4 `8 P* }1 {( l1 iattention due to their convenient location and proximity to downtown x. t9 T2 I k4 h& i3 z
amenities.
$ o, o, w1 _8 _% {+ m8 W5 t
# D) V6 b8 q& n8 T The housing market in Toronto sustained healthy activity levels/ m2 |; v6 ~* u- w
throughout the third quarter, as a strong economy helped to maintain demand+ q5 \# [' y/ j
across the city, causing average house prices to rise moderately. Toronto has) L4 X' v# S( m7 Z; ?
continued to experience modest growth in average house prices, and has been
7 Q. \+ p6 o4 `7 r5 T/ d. ydriven primarily by purchasers who are buying homes as their principle
! ^0 U$ {2 u7 [" {) _residence, rather than for investment.' j: s; K7 D2 N5 f0 o A
! d7 t+ r# ^9 p2 F8 W1 W The vibrant Winnipeg housing market continued to show its strength as
+ C) ~$ u* ^! y; @' Whouse prices rose during the third quarter. The booming local economy resulted% C U- n% _2 g3 v7 z. d
in a historically low unemployment rate, helping to bolster consumer% O* a. ?8 x* V
confidence and Winnipeg's ranking as the city with the lowest capitalization
8 h5 \, g/ c1 G9 ~8 O+ }rate among the country's larger cities - helped to encourage buyers to enter1 H* z1 }; @* ]& H) z( Y/ ^
the market.6 X& d( S9 E- X4 x+ S- N
; M8 t( t( n6 C3 a In Regina, the market experienced a slight seasonal slowdown through
6 \. f5 f9 ~3 |+ I) BJuly, as there were fewer purchasers in the market due to summer vacations. In
+ w; o/ g1 C( u, ?9 s- gAugust, activity resumed to the busy pace previously seen in the spring
8 @6 t, @6 p% _ w6 o: [& N& nmonths, as the influx of purchasers made it more difficult to find a home due
$ t; L" \. Q! pto the shortage of available inventory.
7 K3 R5 x# Z7 r/ s3 Z/ g1 s7 r4 `" X* F
Activity in Saskatoon remained brisk as the market maintained its2 s$ Z5 b5 M; p+ j
momentum from the busy spring sales period. The economy in Saskatoon remains; x1 M4 G, T6 e
vibrant, as employment opportunities are abundant with many businesses
1 ]7 L: Z/ {& w6 z5 h$ O9 B+ I' f- ?struggling to make hires and having to recruit outside the province.
% e8 X- o8 w$ k) i( E, Y2 C) f0 p6 g; x5 }! f. r
Calgary's housing market recorded blazing average house price increases2 y/ o$ t( }2 `/ C6 l1 Z9 {
in the third quarter, in all surveyed categories. The burgeoning economy, low: g" {: k2 g) q, b$ H/ F T
unemployment rates and low inventory levels remained the leading factors that
3 {5 X- r; {4 Epressured Calgary's house prices upwards. However, regardless of the soaring; z, |/ R7 B% t5 G O
prices that characterized the market - even during the typically slower summer
0 K, Y7 N4 H# Z" w3 [season - it is expected that activity will become slightly more balanced, as
2 |, E0 x0 Y- `: `5 v3 ^# bbuyers are becoming more reluctant to participate in the frenetic activity.
f" ~9 }$ j. I: t% d9 F2 {' K4 A3 N% l3 }3 ]2 q$ g
Edmonton's booming local economy continued to thrive in the third quarter
8 F) K4 P* {# R0 |8 k; ?* Ias activity in the oil sands north of the city continued to flourish. Edmonton
! r. t- ^ a b+ X! O- Aremained the hub of activity for those coming to work in the oil industry,2 |1 A" M: u- W$ W( [
maintaining tight inventory levels across the city, resulting in prices" B$ T: s8 h4 I/ } Z7 y0 u ?. W
increasing at record levels. However, as inventory levels continued to improve
, T" f2 p9 A$ f+ C/ h3 X# W8 Uin the third quarter the rate of price appreciation should moderate slightly
- M7 U9 d- }$ B( a9 N# x" Stowards the end of 2006. 4 ]- R" s7 A0 h+ Y% M
) D' e) M, @, eWhile Vancouver has seen a slight reprieve from the severe shortage of
9 l \! j7 O/ W9 K3 yinventory that had previously characterized the market, supply is still unable
# w$ H+ l" I( p% h' E: sto meet demand, driving house prices upwards. Vancouver has a very diverse, j! i+ J9 }; g7 C
group of active buyers - from first-time home buyers to baby-boomers to
5 l7 B. X' C& i+ B, Z- B" v' Hforeign investors - all of whom fuel the demand for houses, placing added. x+ W$ I) o" W5 u6 ^% a
pressure on tight inventory levels.) V2 c$ b9 R3 i7 I* s
. ^& _. T, C a3 Z2 [% l Victoria's market is vibrant and supported by strong economic
: ]1 V. y" ]5 ?5 Q* n) n- Tfundamentals, fuelled by a booming tech sector and a migration of young people
% L7 V% M+ ]" ~2 r2 ?* c* cinto the city that has continued to support the area's house price increases;
6 C0 H# w8 f1 @6 D: lwhile increased inventory levels have afforded buyers more time when searching
9 \6 v% R2 B" z! T, E c0 b: xfor a home, helping to normalize the market's pace.$ R2 }) f% ?- l; |
) W3 r# h9 u" P+ {% n5 n
<<
% {: ?: R. k) G. Y* y k Survey of Canadian Average House Prices in the Third Quarter 20060 O) D! A7 v; N4 x# w
" I5 N# l# c: Z( e
-------------------------------------------------------------------------
: P% O- e% X9 \9 T4 n# z Detached Bungalows Standard Two Storey% d7 w; m' P3 f; E! z4 C
-------------------------------------------------------------------------
" X6 c3 ]* i% | 2006 Q3 2005 Q3 Bungalow 2006 Q3 2005 Q3
* y; t2 U9 ~' P. O5 l+ x Market Average Average % Change Average Average" ]" c4 c. q4 `$ ]
-------------------------------------------------------------------------
! u2 Z' ?6 S; X* [; K7 ^* D+ W Halifax 186,333 173,333 7.5% 198,667 199,0004 J z# G: Q5 Y6 E" N; ^
-------------------------------------------------------------------------
8 k/ [3 ~/ d/ Q& p Charlottetown 145,000 141,000 2.8% 175,000 170,000
: H: Q( W4 q8 s- ^. G -------------------------------------------------------------------------+ M6 b, h* f) m* s
Moncton 135,000 127,000 6.3% 129,000 123,000
2 o0 Z, I$ H4 S -------------------------------------------------------------------------& r5 I: e: V. u) x0 f7 r& E
Saint John 141,200 142,900 -1.2% - -5 H3 y, f( P& K0 |
-------------------------------------------------------------------------9 D' s$ s) r: x1 j$ c0 V+ u
St. John's 143,667 142,667 0.7% 200,667 202,333
1 t8 ]# F# Q8 E% K: K, D" l -------------------------------------------------------------------------
* m, l5 O( V& U Atlantic 150,240 145,380 3.3% 175,833 173,583# D! f: M! _* _0 ^; ]* J
-------------------------------------------------------------------------% x' c( {4 L- Q: t+ f
Montreal 213,691 203,500 5.0% 321,141 316,185
4 c) \0 y! s, O# P1 g& l -------------------------------------------------------------------------
+ X+ Q+ A$ u8 p! j( ? Ottawa 290,083 278,417 4.2% 285,667 273,2500 j2 Z4 A% L% \4 \8 O% U1 i5 J
-------------------------------------------------------------------------
5 w) C' R, {2 D+ g Toronto 373,368 355,882 4.9% 481,523 474,7663 t8 ^; c Q; K) P1 |# k
-------------------------------------------------------------------------
! a7 H% _7 m E9 \& N Winnipeg 181,579 159,860 13.6% 202,337 180,707
: R. Y8 p8 D4 C6 [+ j, h2 V7 b3 S" b -------------------------------------------------------------------------4 D$ N$ r ~# j$ E& u# t6 i
Saskatchewan 170,667 156,083 9.3% 182,600 166,5007 u0 Q+ n8 k6 u3 `% x; R% a( V
-------------------------------------------------------------------------
& P! J* T" d3 {1 I4 S& S4 j Calgary 395,067 252,411 56.5% 405,778 264,3896 _9 t) ?$ S% D
-------------------------------------------------------------------------
* w/ k+ A _! t" r& p1 A u' ^ Edmonton 286,857 194,857 47.2% 316,429 206,714
1 B7 E; A' ?( J0 `" w3 a -------------------------------------------------------------------------
$ s4 l7 n; j3 a8 J3 v3 F Vancouver 704,250 601,000 17.2% 794,000 697,5001 i; l# i) o$ L7 y
-------------------------------------------------------------------------
v6 ^* L0 ^$ F" h2 ? Victoria 375,000 348,000 7.8% 403,000 391,0009 l0 ~% {; R1 T3 `8 J# i( b
-------------------------------------------------------------------------* ?( u x [* S" D
National 300,365 258,202 16.3% 365,380 322,8602 e' c7 C# Z3 S9 h
-------------------------------------------------------------------------
: N: E3 }$ S+ H" S+ E/ `4 L( N) U
" A Y! v& _+ ], o9 X8 g -------------------------------------------------------------
; ~4 C. ]/ o' ]7 @1 m. t9 `3 ` Standard Condominium
* B6 ^' |; f; l% x. I4 j -------------------------------------------------------------
& M. q5 e) Z. y8 R5 y- K6 H 2-Storey 2006 Q3 2005 Q3 Condo
L0 {" p; {% i5 A z Market % Change Average Average % Change
9 Y3 p; w, _4 Q( \8 U -------------------------------------------------------------' W A% U3 G' p. |+ z# }
Halifax -0.2% 142,000 103,000 37.9%
) e2 i* y; K; F6 e" ]+ i -------------------------------------------------------------" V, `( p: o" E. z/ i) u
Charlottetown 2.9% 98,000 98,000 0.0%: |, c; J0 r# x1 l; g
-------------------------------------------------------------
$ X6 u+ I2 T9 t# ]- g, R( e Moncton 4.9% - - N/A% W( R) ? K# c5 B& S; H0 [
-------------------------------------------------------------+ T/ H8 N+ U6 T( n* o
Saint John N/A - - N/A
* O7 k! }- S& d2 c/ f% P -------------------------------------------------------------, o/ N! V, i/ L
St. John's -0.8% 146,333 145,667 0.5%
, k8 C3 d7 D" v- r% F) C% v" z -------------------------------------------------------------
0 b2 X6 z6 w8 ` Atlantic 1.3% 128,778 115,556 11.4%
- @3 Z {. U+ ^3 w- o J( v# d0 ? -------------------------------------------------------------* z+ I* s4 v: G' q; o9 r H
Montreal 1.6% 193,190 188,016 2.8%
* D& S1 i& K0 _8 e. {; r0 T# A: W( ` -------------------------------------------------------------
+ X& D, T6 o3 a! j4 [& t, I2 b Ottawa 4.5% 181,083 172,250 5.1%
5 x5 [4 @: R4 U, l3 s -------------------------------------------------------------% L+ G! g, B+ a" r
Toronto 1.4% 252,088 242,918 3.8%
# ~7 P4 k# _' r0 x# ^" g. t+ {" P -------------------------------------------------------------
) Y8 d- B4 ^9 [8 C Winnipeg 12.0% 105,648 96,008 10.0%
. w6 o4 L5 N3 l d. | -------------------------------------------------------------
% }; q, h, Q+ `+ I7 [; t$ X$ L" p Saskatchewan 9.7% 106,250 101,000 5.2%1 m% S8 L( O0 {. T8 T2 u+ U
-------------------------------------------------------------, s- ]/ t t0 E9 b* T3 w) m& P1 A7 S
Calgary 53.5% 245,844 153,867 59.8%7 K, U( K" @+ G' y S
-------------------------------------------------------------
4 X( U6 j8 [- E4 k/ D. Z6 T Edmonton 53.1% 200,433 131,500 52.4%. i/ X8 ?* q# U1 A3 E4 s/ a4 Z
-------------------------------------------------------------3 `, k7 z2 ^8 h! ?" {3 ~
Vancouver 13.8% 366,250 323,250 13.3%
/ P- X7 F0 A% m5 n -------------------------------------------------------------7 m8 e* R3 a8 y q' i9 q
Victoria 3.1% 229,000 220,000 4.1%8 u8 _8 [5 _1 k" l! Z
-------------------------------------------------------------# C2 R. F! [( V- L/ x$ U
National 13.2% 211,562 185,296 14.2%
( r; f# c. ?) l: N. M9 ~ -------------------------------------------------------------0 f$ F) f; O- m9 Z/ D; \+ q V
>>
7 M: T3 x- q0 h/ F. H1 H! W8 b) g. ~) `# [
Average house prices are based on an average of all sub-markets examined
3 ? m. O) M: y6 p9 [$ xin the area, except for the smaller markets of Charlottetown, Moncton, Saint6 a" K$ |+ Z; Q7 N) q0 @7 q: A: M9 C% x
John and Victoria.
3 W0 `+ ^. O! _9 U# |( B# `, m) i+ I& z
The Royal LePage Survey of Canadian House Prices is the largest, most
) n* o+ R% I- J: @5 u( r! Ocomprehensive study of its kind in Canada, with information on seven types of0 b6 t' x. J0 j% K' @; V$ s M8 U$ Z
housing in over 250 neighbourhoods from coast to coast. This release
& p7 E" ^% }8 A& hreferences an abbreviated version of the survey, which highlights house price( d2 I- i( w# T7 s5 l
trends for the three most common types of housing in Canada in 80 communities& q; f/ A4 v u' S6 |$ p
across the country. A complete database of past and present surveys is9 y0 [' H: F' t( l
available on the Royal LePage Web site at www.royallepage.ca, and current
, C3 Q- x- c, h' n- ]1 V& [/ cfigures will be updated following the end of the third quarter. A printable: G3 X0 P: s/ i9 O0 I, ^" C' Y3 v
version of the third quarter 2006 survey will be available online on" V) c. q) L/ N; `0 B! D
November 15, 2006.1 ?- @' {5 R) y( k* ^( ?. P& [
Housing values in the Royal LePage Survey are Royal LePage opinions of
9 K+ J+ K0 w. E ?( Kfair market value in each location, based on local data and market knowledge
: O$ l/ a/ [' Zprovided by Royal LePage residential real estate experts. Historical data is
1 j, o! k: b3 o- {& |& u" Oavailable for some areas back to the early 1970s. |
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