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Canada's housing market both vigorous and stable
- L8 b" g, v7 \0 J* O+ s* }& a8 T. W( H' M
- Country's market poised to show growth throughout 2006 -2 G( H! P# E5 Y9 m0 t) C; m
& }2 k# y% o6 H0 [) {
TORONTO, Sept. 28 /CNW/ - For most of Canada, the housing market
8 N$ }5 j; |) X2 _# }* I% \exhibited moderate price increases and stable unit sales during the third
9 B$ J3 F. r. |$ Qquarter. Wide regional variances continued to be the dominant characteristic
) z1 @+ r- P+ d' m7 d: u" A) |in the market, exemplified by frenzied levels of activity and double digit, g3 p8 @$ b. i+ j
price gains observed in the energy and commodity rich Western provinces, and/ C9 z L# o. d% W/ Z; {! R
more reasonable sales volumes and moderate price appreciation in Ontario,7 S7 n0 @4 Q, n& Q8 K2 V* Q" k1 {
Quebec and Atlantic Canada, according to a report released today by Royal, E8 a. F( |; M( j! Z/ s
LePage Real Estate Services.
4 s$ }7 A# l; y
& g2 e+ B! j1 E/ M3 F1 K Nationally, market trends established through the first three quarters) q9 k$ G s5 h# N
are forecast to continue for the remainder of the year. Robust economic9 u. D& g! f6 t5 z8 @* e
conditions, low unemployment rates, modestly growing salaries and wages, and
# s2 |+ T% _2 |* asound consumer confidence contributed to the overall strength of the
+ Q, s& x! l/ I2 O( t% M5 n4 fresidential real estate sector.8 A# N {" @) v: B6 }& U! Q9 z
! ]: Y# q5 M# @2 @ Of the housing types surveyed, the highest average price appreciation
5 U |* r& W3 s5 j. W* x3 g2 K6 Soccurred in detached bungalows, which rose to $300,365 (+16.3%); u! Q4 X; P# j
year-over-year, followed by standard condominiums, which rose to $211,562
( B) C, V5 S/ Z" ], M(+14.2%), and standard two-storey properties, which increased to $365,380
& x9 y; S; W% f3 I. d(+13.2%).; U) M o+ [3 w
& \0 p8 q U! g2 ^# `( I" l
"Canada's sturdy housing market continued to demonstrate steady growth
4 T8 L" j- b; M! T# i+ P) m Dduring the third quarter. For all but the west, we have moved on from the
' _- j. Q- `3 G' w9 a {/ A& m1 _frenzied expansion that characterized the first half of this decade, and are2 z# H$ c: I: h( B
poised to show continued growth at a more moderate pace," said Phil Soper,
+ W1 c( b r" V% e) Fpresident and chief executive officer, Royal LePage Real Estate Services.# }, I: I& l6 \; g- V6 P
"Gone is the sellers' market that we have lived with for some years. We
0 I" ~) o8 \# K4 J% u. twelcome the more reliable conditions that are characteristic of a healthy ~4 k3 n) ?8 d/ K% B5 D) |7 x) _
balanced market."9 B( l& R: |6 R8 Z; x- l
3 e. @; B8 ^; t) R! G- V; b- \ Despite the double-digit rise in average national house prices,
6 _) {* h' }( c# econsiderable regional variances were exhibited again this quarter. The shift/ Z m! l+ [8 |* `4 @1 N6 x6 [
to balanced market conditions, which began in late 2005, has continued
3 \+ V& i- ^$ K( P) x7 o% rthroughout most of the Central and Eastern regions of the country. In the core
6 }7 w/ D$ w/ a9 [energy producing western provinces, the combination of very high in-migration,5 K5 `# n8 n% s- v6 ]
manageable affordability, and a shortage of inventory has driven record; x9 N% {, K" I
breaking price appreciations.1 n* |7 R" I/ ^" n& h* m3 \
7 f1 |; ~/ \, w* [1 L$ m- ^$ a
Echoing the second quarter and supported by Alberta's rapidly expanding* ?+ y0 c) ~2 J6 _5 I
economy, Calgary and Edmonton led the charge of Canadian cities with the
1 J2 O% G I" C) s# l- llargest house price appreciation in all housing types surveyed.
/ J# Z) i1 L7 T; r7 a, Y6 f
$ J$ l, ]- ^. i In Ottawa and Toronto, growth remained steady, supported by solid
J: y z7 S% a+ v/ Reconomic fundamentals, an increase in available inventory and strong consumer3 [3 S' d* S* P& I
confidence. While the pace of price appreciation in Ontario leveled off4 @5 o6 [& d( V$ d: [
slightly, the province's real estate market remains poised for modest growth.
4 f; A1 e; f, sIn Atlantic Canada, new housing and condominium construction offered buyers
; t$ s! h; D6 q5 G! h1 dgreater selection at more competitive prices, resulting in a slower rate of, e- g6 ^1 c7 k3 \" ?# m& ]
price appreciation when compared with 2005.* v, O3 Z M) K2 K
* x H7 c% }4 l8 a/ c. N; O+ \ While the pace of growth in Canada has slowed, the domestic housing
/ s' N7 U% D! x/ J3 g3 ~4 E* D( imarket is expected to outperform the American market. The economic and
. F/ e D! V l& V R# Dfinancial fundamentals driving the residential real estate sector in Canada, O4 T3 h/ T7 E1 u8 t9 `6 _
are markedly different than those found in the United States., w( k$ u. F' A ~$ j1 v
8 f/ u' H# c. H8 c1 J+ v Added Soper: "Canada's housing market is likely to outperform the
' H4 P' s; r O4 BAmerican market through 2007. A number of factors are working in Canada's1 L7 V9 \3 g3 C" h
favour, including healthy personal and governmental debt levels, the3 [, [$ B# H, h9 g& x
relatively modest rise in interest rates in our country, and general* I* J$ U4 q* v8 J+ D, S
affordability in our major cities. In addition, Americans are now seeing the
* v2 ^6 e' g5 I; |* y5 edownside of a tax system that encourages maximum homeowner leverage, and! d' F3 F/ B/ h4 O, U
aggressive financial products such as zero- and negative-amortization# [0 W5 `9 y2 w
mortgages that work only in a high price growth environment."- q* V# `1 X- h& w" K* C6 O
$ n* F" [, w. Z9 r; R
<<) C' a1 @" {4 k6 v' \4 s
REGIONAL SUMMARIES& K- O. z2 g) v, L1 d. W3 k
>>
?4 ^7 k1 @7 Y5 d$ m" Q: \8 B. W- I
Balanced conditions continued to characterize the housing market in
# [# Q- i0 [7 D$ oHalifax, as significantly higher inventory levels helped to moderate the rate
+ O8 N* O4 \3 @* k6 yof price appreciation. Buyers were increasingly choosy, taking more time# C# u0 _ z0 ~1 T
looking for newer, low-maintenance properties that were not in need of
' d( G" Z) A9 r6 J; Orenovations.; c" v6 N- T- L, G8 V8 h
3 s+ w! _ e% Q7 ~7 c9 p The housing market in Moncton remained healthy and strong as a slight
/ h6 O! y' T% V, {increase in inventory helped to moderate the rate of price appreciation
6 A6 D6 A+ k* ~- tcompared to the same period in 2005. Activity was brisk throughout August and
4 L2 `( T" x l; O" h+ Q" T2 y) Z3 g3 bSeptember and is expected to remain this way through the fourth quarter.
% E( Z, N# w* l( y+ n" s4 a' u* T; p Q! \2 A
The housing market in Saint John underwent its traditional summer: X1 v( }; g1 l
slowdown in the third quarter, with activity picking up towards the end of the
0 `7 F: c- v7 S8 \0 mquarter. The local economy continued to thrive, as construction on a new4 t- a4 |% Q1 O; q5 ?* ~, A
600,000 square-foot shopping area has begun, bringing several new box stores
# L' P/ r" n1 {: u) s7 t# ^' r% Vto the area. Buyers have begun seeking less expensive fixtures for their homes V4 C% Y, B" @9 r2 L
and are instead opting for more affordable housing options.8 P8 \3 S9 ^2 J+ i6 y) Z
& V P4 v% T6 O! E. @% ]% Z% B In Charlottetown, the housing market started to move towards balanced: e, J3 ^. E3 T
conditions, as some sellers had to begin to lower the asking prices on their0 ~, v. w9 s" t. w {+ Z
homes to make them more competitive. Activity from out-of-town and US buyers8 f% z O0 @6 x# f1 R7 f5 V
was down slightly compared to 2005, likely attributable to the strong Canadian
' V7 Y4 s- q. T' a% mdollar. Inventory levels began to creep up in the third quarter, providing
5 M: t. `' a; ~9 S8 Fbuyers with more options when looking for a home.: F! F' _% g7 D. l( ~* _! c, e
/ Y1 @6 B% S8 c6 {! b
Activity in St. John's slowed slightly in the third quarter, particularly
& |/ J" A( I! F- {among higher-priced properties, where there was a slight over-supply of homes
" r! v U1 m$ n6 u# W7 t7 a/ ^- tpriced over $200,000. Listing periods have increased when compared with 2005,
+ U. M* j) @0 c- ]9 ^+ E/ tas some of the pent-up demand that had characterized the market over the last
0 K- w J) ~4 y& v2 F. a+ f0 afew years has been satisfied, resulting in more normal, balanced conditions.8 i, _& O- W; L+ |
& @6 S2 I4 X9 ]; Q- g# K" K Montreal's housing market recorded modest increases in average house# X1 f' G7 E- c2 H: x2 ?; |
prices, due to a slight seasonal slowdown in the third quarter as inventory
) S- @* c) {/ o4 s" E! F0 O9 ~levels rose. Part of this can be attributed to the fact that many renting
) \5 [3 m4 b' u: N8 ~first-time buyers were motivated to close on the purchase of a home by July 1,( m* e) F2 N" Y7 z5 }6 I
when rental leases expire in Quebec. Once this date has passed some of the
% L/ h1 p* c) k7 B' g4 x, `pressure is taken off the market, allowing buyers to visit more homes before
( Z/ j C, @, J1 o# Imaking a purchase.) a; M _5 v3 @9 M' f6 p
+ {" Q! K& q. k: a- X% @ Ottawa held its position as one of the country's most stable housing
( q# _* ~ W8 C" E1 Ymarkets in the third quarter, reinforced by a vibrant local economy and strong
; @! W# x( ?3 ^. Y0 h" R7 ~confidence, resulting in modest increases in average house prices. The city
: G; i0 v) F0 E5 }centre remained a bright spot in Ottawa, with homes in this area attracting2 z$ H5 J% C# x
attention due to their convenient location and proximity to downtown
" G& Z1 V9 B6 ^9 |/ b: e; ? s/ ]amenities.
# P3 q/ k. J G9 o. z {2 `8 C1 `1 V
The housing market in Toronto sustained healthy activity levels- R: p8 B& V$ S
throughout the third quarter, as a strong economy helped to maintain demand
4 B3 Y, K6 S0 s* Sacross the city, causing average house prices to rise moderately. Toronto has
$ J O2 o! P; x0 \, z: A/ ?continued to experience modest growth in average house prices, and has been' X! @' x# e, L# F9 `$ J
driven primarily by purchasers who are buying homes as their principle7 H z: ^! g( c4 N1 @
residence, rather than for investment.
8 p. x2 l" F& x) _, A/ L) y+ S# n5 ?1 D6 m5 D! G v) `
The vibrant Winnipeg housing market continued to show its strength as6 g# Z7 j8 o" X! Q! h
house prices rose during the third quarter. The booming local economy resulted
4 \+ Q1 S+ K7 F7 Pin a historically low unemployment rate, helping to bolster consumer. e; Y+ u& K% _% d; V
confidence and Winnipeg's ranking as the city with the lowest capitalization, u( N$ w+ Y+ E9 n# Y
rate among the country's larger cities - helped to encourage buyers to enter
# S2 T4 P, L' x+ y$ y" k( e2 W! fthe market.
4 s; @& D# o) R2 H, W u) n8 H. D B4 y: V- c1 P+ s
In Regina, the market experienced a slight seasonal slowdown through; I; E% f/ {( z9 \' ^; E
July, as there were fewer purchasers in the market due to summer vacations. In
5 O: e. G0 f& m# a! ~/ VAugust, activity resumed to the busy pace previously seen in the spring
9 D/ C4 L" A' l% K/ k# U' v3 E# ~months, as the influx of purchasers made it more difficult to find a home due
6 g, N* v; I0 X: n @to the shortage of available inventory.# M+ P( k5 Z# b) b/ X
- j" w% q0 s" o+ c0 e+ b/ F& Q Activity in Saskatoon remained brisk as the market maintained its9 C k- D, R7 A
momentum from the busy spring sales period. The economy in Saskatoon remains
7 R* t7 o; K/ j0 y0 `7 bvibrant, as employment opportunities are abundant with many businesses3 T% f. {) ? n0 G9 W5 G
struggling to make hires and having to recruit outside the province.
5 q( {/ b) x2 `! n# n U4 E* _ `, ?
+ H8 {% D# h! z5 F; c2 X Calgary's housing market recorded blazing average house price increases% f F4 W5 n' h2 Q A1 w% [# N) q
in the third quarter, in all surveyed categories. The burgeoning economy, low5 [2 e E$ _. V; t/ O+ G
unemployment rates and low inventory levels remained the leading factors that. a" H( M# h0 F7 R" r& V( k
pressured Calgary's house prices upwards. However, regardless of the soaring
4 n% f. \2 o4 `+ W- f0 B! Nprices that characterized the market - even during the typically slower summer% f; z$ ?- o) v; F
season - it is expected that activity will become slightly more balanced, as
0 x! y5 H5 r, ]2 O) ?; zbuyers are becoming more reluctant to participate in the frenetic activity.& L# @7 ^2 \+ H N F9 W
+ ^8 C' Z8 U) S$ a3 j Edmonton's booming local economy continued to thrive in the third quarter. q+ i! A' }( H0 R+ ]8 x& X' y
as activity in the oil sands north of the city continued to flourish. Edmonton
, ^% c M7 B' t4 ^1 L8 bremained the hub of activity for those coming to work in the oil industry,! ~4 h$ p( ?) ?; i$ `
maintaining tight inventory levels across the city, resulting in prices
2 L6 M* a p3 C! i: E2 w3 lincreasing at record levels. However, as inventory levels continued to improve
& J* i. E/ H& D3 N! pin the third quarter the rate of price appreciation should moderate slightly
# g! d' j2 i! B: q+ D1 B. \4 r- ^towards the end of 2006.
8 ]! ?9 a4 g$ h6 s& C
3 x: L8 m* m6 \6 v6 }9 eWhile Vancouver has seen a slight reprieve from the severe shortage of/ x E# {* H/ i! O. u/ S
inventory that had previously characterized the market, supply is still unable
! L* U5 [) G. j, A- Z7 jto meet demand, driving house prices upwards. Vancouver has a very diverse( K" P- N: f, t4 X+ D
group of active buyers - from first-time home buyers to baby-boomers to
1 C* }8 l; X5 U4 u# G) ~foreign investors - all of whom fuel the demand for houses, placing added
: L& a( ~7 b8 d* Cpressure on tight inventory levels.# _3 }, g# ^. i. T" j. `
( @! l6 \5 B1 k
Victoria's market is vibrant and supported by strong economic
$ u8 @1 S8 r# p4 n0 |* |' w- t i4 rfundamentals, fuelled by a booming tech sector and a migration of young people% \1 x, G# H. Z8 Y1 Z- {, X
into the city that has continued to support the area's house price increases;
J- ?+ o( q" |3 Z6 a# T: V5 ~1 mwhile increased inventory levels have afforded buyers more time when searching+ c% F1 |+ t& `& f8 N) [0 H
for a home, helping to normalize the market's pace.
; e1 B, ~( p; B) h8 t+ R' M8 A$ _7 `1 E
<<
/ e8 y) k# v) p* `* _+ p* m5 S$ y* c1 } Survey of Canadian Average House Prices in the Third Quarter 2006
& h! K& r! {7 W" i! l1 Z, j5 p7 H9 Y, l' b+ E9 h
-------------------------------------------------------------------------- {( b$ q9 [7 P; f
Detached Bungalows Standard Two Storey
G) X& _6 w( I# M2 Q- i2 ~$ ]4 E -------------------------------------------------------------------------# N' {9 D$ w2 [! |" v1 o, L
2006 Q3 2005 Q3 Bungalow 2006 Q3 2005 Q3" E2 x2 d6 e7 A8 }! E O8 P
Market Average Average % Change Average Average
" g$ E/ T3 i) Y8 f- U7 L5 X8 M -------------------------------------------------------------------------
5 L, f9 h9 p; n' h* d' \" V Halifax 186,333 173,333 7.5% 198,667 199,000" N$ w g" U0 V! {5 b3 h+ ?% f' ] O
-------------------------------------------------------------------------! R& d, |8 w8 {+ C+ F1 z, Z) X
Charlottetown 145,000 141,000 2.8% 175,000 170,000; `4 J0 i+ {. u6 U( u& u4 R) d# E
-------------------------------------------------------------------------5 N4 \' a5 e, H& r2 F9 N7 x
Moncton 135,000 127,000 6.3% 129,000 123,0005 _! n+ C9 X: G1 l- L
-------------------------------------------------------------------------
* c/ f6 f& |7 R" W; t$ [ Saint John 141,200 142,900 -1.2% - -
; o+ y7 f# f5 m4 D -------------------------------------------------------------------------
+ a3 c6 C' d5 H2 D St. John's 143,667 142,667 0.7% 200,667 202,333
4 A3 t' d8 L4 \- ]9 f. r5 u: { -------------------------------------------------------------------------2 ]4 ^2 i4 v: D1 N1 o( D$ S
Atlantic 150,240 145,380 3.3% 175,833 173,583
' v* d- I( c( n% w -------------------------------------------------------------------------( f+ d4 w9 O) t
Montreal 213,691 203,500 5.0% 321,141 316,185$ ~; U$ R# N! |& i! K! f9 ]6 u
-------------------------------------------------------------------------
+ ?6 d- u& D! o+ Z4 k Ottawa 290,083 278,417 4.2% 285,667 273,250# J5 d* m+ R+ f0 a
-------------------------------------------------------------------------7 a9 B3 A' \# u2 e* e2 a" W# G8 Z, A
Toronto 373,368 355,882 4.9% 481,523 474,766
; ?6 u' l- T" a/ K, ], U; z5 r' N -------------------------------------------------------------------------+ ~9 r2 E) ] ]
Winnipeg 181,579 159,860 13.6% 202,337 180,707/ J! `, ?$ r1 @5 @3 O. _
-------------------------------------------------------------------------+ x7 ^% c0 Z# s" G
Saskatchewan 170,667 156,083 9.3% 182,600 166,5001 b7 o& \6 k: b% ~
-------------------------------------------------------------------------
( ^5 L- m' K& e* o6 L) p5 {0 \6 b Calgary 395,067 252,411 56.5% 405,778 264,389
( ^* f: n$ ~( F7 P3 a! f -------------------------------------------------------------------------* z4 S2 w5 `7 F' P
Edmonton 286,857 194,857 47.2% 316,429 206,714
, n4 S; ~$ A: \& p: Z, t -------------------------------------------------------------------------
% ] W5 A5 ]; n. B% A Vancouver 704,250 601,000 17.2% 794,000 697,500
6 `3 V; z( J; p -------------------------------------------------------------------------% I5 Y+ e: P$ h2 F8 @8 K
Victoria 375,000 348,000 7.8% 403,000 391,000
8 E' s# ^( `5 E3 k! f0 l" j: b4 y, c -------------------------------------------------------------------------
5 g: i. a% z1 e& T9 H National 300,365 258,202 16.3% 365,380 322,860
, F1 J: {; [( ~" C -------------------------------------------------------------------------4 i. B9 w9 X* T
1 ]0 P4 E& y1 ]( q5 a) x
-------------------------------------------------------------% S1 f Y N4 z/ w1 X7 G b
Standard Condominium* v) z' a2 T2 w! o0 l8 x
-------------------------------------------------------------
- A( i# K0 d5 V2 V9 o 2-Storey 2006 Q3 2005 Q3 Condo. Z6 N- J% S2 [+ e
Market % Change Average Average % Change# |' ], `' Z# Z# u! Q0 p
-------------------------------------------------------------0 H, T5 t% H* E
Halifax -0.2% 142,000 103,000 37.9%5 i3 i% l# O' t% j
-------------------------------------------------------------6 {, C% i+ Z- f# H* q
Charlottetown 2.9% 98,000 98,000 0.0%
" J" e1 c, F/ h9 m; d9 M" F/ j -------------------------------------------------------------& S6 h1 G3 q2 u7 I# `4 \5 r3 t
Moncton 4.9% - - N/A
; U5 |% R8 l+ q, _% o -------------------------------------------------------------
4 [4 E* k/ K7 I+ | Saint John N/A - - N/A
7 a' V2 o5 N5 H -------------------------------------------------------------
$ ]' d' R, m! c6 e& Y/ o St. John's -0.8% 146,333 145,667 0.5%# Z" I7 N- n4 _. j8 R
-------------------------------------------------------------
6 v) m: I* d8 i- p: V. w% C1 s Atlantic 1.3% 128,778 115,556 11.4%/ P( T% |6 e; p0 x; T
-------------------------------------------------------------
8 F x% X' X7 D9 C. U Montreal 1.6% 193,190 188,016 2.8%
9 J$ Z* a, ~8 _7 H( J4 b! T -------------------------------------------------------------/ W3 i2 l5 @% {2 O
Ottawa 4.5% 181,083 172,250 5.1%
5 B3 J* o: ^+ _, y- Y) O -------------------------------------------------------------
1 p/ A( N( _) I& s; ]; i Toronto 1.4% 252,088 242,918 3.8%
' V1 e4 B' a1 {: ` -------------------------------------------------------------4 y9 I- Q6 Z C# q# I
Winnipeg 12.0% 105,648 96,008 10.0%9 J* x- x, E6 m; S2 b
-------------------------------------------------------------' j6 \) C r' Y" {
Saskatchewan 9.7% 106,250 101,000 5.2%) j- X4 ^4 ?6 I) _- p
-------------------------------------------------------------
8 n- C! o/ ~ a6 A; W/ ^ Calgary 53.5% 245,844 153,867 59.8%
! c* r) ]6 M1 m1 J, k- d -------------------------------------------------------------
- `& Q7 y) m. A- Q5 p; W Edmonton 53.1% 200,433 131,500 52.4%
O) r2 q* r* b: N' B' W N/ S -------------------------------------------------------------
}9 R+ K. s* C9 {9 j Vancouver 13.8% 366,250 323,250 13.3%
: M1 V9 i; W+ Q1 _1 M -------------------------------------------------------------
4 L/ Q% G8 N) m9 s. D& R/ J Victoria 3.1% 229,000 220,000 4.1%3 W* c5 B5 o6 @! u
-------------------------------------------------------------
6 E$ ~ e* g3 ? National 13.2% 211,562 185,296 14.2%+ q9 ^7 x2 e# S4 C5 f. q
-------------------------------------------------------------
0 X% @* {3 z+ S >>
% c2 i& C4 [: h6 r* P& r% F& Q' v3 K- G
Average house prices are based on an average of all sub-markets examined
! D0 x- b9 E0 D* J: Iin the area, except for the smaller markets of Charlottetown, Moncton, Saint
: P o$ b, S# s7 q( @# X: k$ zJohn and Victoria.
/ [' W3 `. a3 n8 ]. S7 k
5 ^$ V7 ?( u$ P6 H$ s The Royal LePage Survey of Canadian House Prices is the largest, most
5 Z4 ?& `5 J' w5 S0 i0 E4 ^- acomprehensive study of its kind in Canada, with information on seven types of4 r! U! _8 d9 o" h" V% R
housing in over 250 neighbourhoods from coast to coast. This release
' U9 C9 c( h6 d6 r$ R5 Preferences an abbreviated version of the survey, which highlights house price
4 v& I7 d& i! Mtrends for the three most common types of housing in Canada in 80 communities
0 M* r# \ x' ?' ^, Uacross the country. A complete database of past and present surveys is. m; t. K0 ~7 ] M& I
available on the Royal LePage Web site at www.royallepage.ca, and current
9 G) Q0 k8 e; m! O2 tfigures will be updated following the end of the third quarter. A printable' c; Z S' B5 Q( S' b' B3 J( c5 f
version of the third quarter 2006 survey will be available online on
, G3 ^0 e0 j5 b J8 X( }, _November 15, 2006.
, P0 F" m' w5 k/ t; I! J Housing values in the Royal LePage Survey are Royal LePage opinions of1 P5 L: A2 S/ i6 ~7 d1 z: G
fair market value in each location, based on local data and market knowledge
8 L; ?3 W7 H4 t" m; T k* \ Wprovided by Royal LePage residential real estate experts. Historical data is
! S$ J3 p4 R) E0 F1 v% b0 k( ^: _available for some areas back to the early 1970s. |
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