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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
6 _7 R$ Y2 @7 v% `/ @5 u7 s* T% o! q* L' W8 |$ V0 O1 j0 W
- Country's market poised to show growth throughout 2006 -# ^1 p* c# D, ?
4 L# X2 y. m- ?7 _1 _& A
    TORONTO, Sept. 28 /CNW/ - For most of Canada, the housing market
9 y  ~/ k% C& d" C5 xexhibited moderate price increases and stable unit sales during the third
0 s' A8 P( o. O1 Y$ \quarter. Wide regional variances continued to be the dominant characteristic
; m* x  L; f7 cin the market, exemplified by frenzied levels of activity and double digit
# Y- t8 A4 Q' `4 D  M' Hprice gains observed in the energy and commodity rich Western provinces, and
9 {; i- ?' U5 e* X% J4 e/ Pmore reasonable sales volumes and moderate price appreciation in Ontario,
! I, L' S2 F+ g% CQuebec and Atlantic Canada, according to a report released today by Royal4 g- j3 n! ]/ g/ O! M5 w
LePage Real Estate Services.6 v0 ^& E& _! n2 ]! J1 U! ?

! E& x% e0 ]( L( Z9 a5 O    Nationally, market trends established through the first three quarters
8 Z  ^! u' J+ Rare forecast to continue for the remainder of the year. Robust economic
. ?6 O  T0 b9 a$ g, w# t* _4 S/ Wconditions, low unemployment rates, modestly growing salaries and wages, and8 j) d. {! s" ]9 }' V: @# L6 }
sound consumer confidence contributed to the overall strength of the8 r3 H; k6 ~4 ?  o+ n8 \! |
residential real estate sector., ^+ ~: d1 w* w2 X; |
6 k& l9 z& J2 s( _) H" a& n
    Of the housing types surveyed, the highest average price appreciation/ u% C: h( `1 H9 J2 Z4 `) v0 P! k
occurred in detached bungalows, which rose to $300,365 (+16.3%)* j# g% x0 s8 q$ h
year-over-year, followed by standard condominiums, which rose to $211,562
! h* M! a; B  X2 _) a0 F4 e6 Z' v(+14.2%), and standard two-storey properties, which increased to $365,380+ C2 C4 o. q" |, H5 ?& }1 `5 x5 `3 g
(+13.2%).
# S' a' o+ n2 c- d8 s& z
; q$ A% A  {& h( x    "Canada's sturdy housing market continued to demonstrate steady growth, B8 \( N9 z4 p+ H" l8 ], i
during the third quarter. For all but the west, we have moved on from the% {: \0 x# j4 u, ]6 D: T
frenzied expansion that characterized the first half of this decade, and are
1 F7 Y- H+ s  N/ ?* Q' H5 v  s) x+ ^poised to show continued growth at a more moderate pace," said Phil Soper,
2 V1 j0 v7 Y1 [# @3 lpresident and chief executive officer, Royal LePage Real Estate Services.) K' w( W, Y5 ]5 u
"Gone is the sellers' market that we have lived with for some years. We- z+ R' `9 f* d+ e
welcome the more reliable conditions that are characteristic of a healthy9 r$ i7 ]1 `/ J2 z
balanced market."4 ?* m5 u6 R- V
1 z7 A/ i: `( h( }
    Despite the double-digit rise in average national house prices,- U. h$ O; l& A; k% |
considerable regional variances were exhibited again this quarter. The shift
" i5 ?2 }4 P1 l# d: [/ a+ Yto balanced market conditions, which began in late 2005, has continued
2 d- X) r5 m, W, P2 e* N5 k5 n4 Ethroughout most of the Central and Eastern regions of the country. In the core
7 N; R3 b9 h) m1 a! |: z) Penergy producing western provinces, the combination of very high in-migration,
7 t8 i9 ^+ q- d# G, R3 f: Bmanageable affordability, and a shortage of inventory has driven record+ a6 a; F( y# B4 H! ]
breaking price appreciations.1 Z! x5 C% h$ n$ G/ B6 r
9 }& C( L8 s( Z; J. V6 P  B& C5 ^
    Echoing the second quarter and supported by Alberta's rapidly expanding2 L7 P+ E. M& A6 {! \1 @
economy, Calgary and Edmonton led the charge of Canadian cities with the( `2 S6 E1 ]* U. U3 `
largest house price appreciation in all housing types surveyed.
; e. K% R0 W2 o$ _
4 z, J" Q6 j- G    In Ottawa and Toronto, growth remained steady, supported by solid$ w7 T6 d) L7 V
economic fundamentals, an increase in available inventory and strong consumer
- c% W8 H2 m. f5 W& {4 c! F( Vconfidence. While the pace of price appreciation in Ontario leveled off
3 ^7 L) s- s- Q2 @9 O& sslightly, the province's real estate market remains poised for modest growth.
: k% |2 Z/ s6 X9 [; u# J$ j  JIn Atlantic Canada, new housing and condominium construction offered buyers
, Q( Z8 W4 t( U: O- h4 egreater selection at more competitive prices, resulting in a slower rate of7 K0 N6 @, O; L9 N
price appreciation when compared with 2005.: q0 U' ]. d3 _& {2 U
5 \3 j( Q+ V% H  x. H
    While the pace of growth in Canada has slowed, the domestic housing9 B9 R: x- v& d0 Y- U7 O% i+ \
market is expected to outperform the American market. The economic and$ c7 F2 c0 ~7 L0 ?
financial fundamentals driving the residential real estate sector in Canada
6 n# U7 g$ k5 kare markedly different than those found in the United States.
9 S6 n* l2 N- o: l& _# f% v5 l5 ^0 C: D" X' k! p
    Added Soper: "Canada's housing market is likely to outperform the0 Z) f5 N* Z! \& t6 ]  C
American market through 2007. A number of factors are working in Canada's
% ^3 M) Q# U. L8 lfavour, including healthy personal and governmental debt levels, the) u$ C9 N. B" R8 j
relatively modest rise in interest rates in our country, and general
, b9 j% p" `0 e; ]/ oaffordability in our major cities. In addition, Americans are now seeing the  L1 T4 I# ~. G# @) S' d" W
downside of a tax system that encourages maximum homeowner leverage, and0 n' s. R4 k: H/ K4 `1 q6 {
aggressive financial products such as zero- and negative-amortization
- }: T' l# u" qmortgages that work only in a high price growth environment."
  }. [3 y" g1 ^: V4 ]. B$ S5 \7 B8 o! C) G1 f
    <<4 z2 s' i- k' n1 v" s0 D) U: [; V1 E
                             REGIONAL SUMMARIES/ G* f7 M2 d0 L. m( v9 r7 T
    >>
5 u; f  D5 B  e" n( o# O  D8 j
) [* x0 A  A; K# c+ `    Balanced conditions continued to characterize the housing market in- F) @! ~7 `, R. A
Halifax, as significantly higher inventory levels helped to moderate the rate( `+ u4 N7 j- X. l  U! O: n
of price appreciation. Buyers were increasingly choosy, taking more time
/ h% Q1 P5 I: q* K6 v- ~) ?looking for newer, low-maintenance properties that were not in need of
$ {6 k4 p) D$ n0 Q- y3 ^/ Crenovations.
( y/ I2 ~( C; \' v" m2 [  W! o" E) \- U
    The housing market in Moncton remained healthy and strong as a slight( W# M, D# k$ y9 n9 J8 j; Z4 C- X
increase in inventory helped to moderate the rate of price appreciation
& z+ k2 a: a4 q; ]6 V, {; i! T! }; }2 lcompared to the same period in 2005. Activity was brisk throughout August and6 d# H6 F5 K! W8 }$ A, [
September and is expected to remain this way through the fourth quarter.
1 @/ n0 A! _6 k4 T5 U& ~% v4 K
8 V+ d9 L8 o; i1 i* Q+ L0 @    The housing market in Saint John underwent its traditional summer
, G  n. y2 J. N0 A4 g; }slowdown in the third quarter, with activity picking up towards the end of the
7 s' Y& |1 c% \& _  Zquarter. The local economy continued to thrive, as construction on a new
& q% c0 i+ S; t+ G3 l3 v600,000 square-foot shopping area has begun, bringing several new box stores
8 f$ j" `0 B+ u( vto the area. Buyers have begun seeking less expensive fixtures for their homes: P# b( T- y* h& O* |7 M( y7 A1 ^
and are instead opting for more affordable housing options.
9 n9 B; k! d- _3 ?) w( M  G  m: V, N5 K3 U. M
    In Charlottetown, the housing market started to move towards balanced
1 l5 J' q; g! f3 [' pconditions, as some sellers had to begin to lower the asking prices on their
% j3 A3 }! Y& q+ s' X! ghomes to make them more competitive. Activity from out-of-town and US buyers! v. B9 O# b% r# X3 L
was down slightly compared to 2005, likely attributable to the strong Canadian% p7 g- `$ q4 k* l# y
dollar. Inventory levels began to creep up in the third quarter, providing
6 I: P8 V3 M/ }* ubuyers with more options when looking for a home.
5 l0 f6 l# J) ~, |' E9 L
* Z5 i9 `, k! |! [% }1 W3 K4 R    Activity in St. John's slowed slightly in the third quarter, particularly+ y* x2 l, j* D7 P# H3 W) ]* ?& z
among higher-priced properties, where there was a slight over-supply of homes0 H, |7 _9 l% b, i$ b: ^
priced over $200,000. Listing periods have increased when compared with 2005,6 Y) u* ~' x+ h# ?! u9 H8 p
as some of the pent-up demand that had characterized the market over the last# j/ o  P1 s8 \0 ~$ F
few years has been satisfied, resulting in more normal, balanced conditions.
- t# N: r8 X) i+ s& C! c
0 R& Q/ I/ @2 [1 W4 p    Montreal's housing market recorded modest increases in average house# Q6 ^" P- U' c- r
prices, due to a slight seasonal slowdown in the third quarter as inventory! ^: D0 f. X1 X& |+ i2 P2 P; K5 R# t
levels rose. Part of this can be attributed to the fact that many renting
0 Z6 p5 ^9 D. g2 rfirst-time buyers were motivated to close on the purchase of a home by July 1,
+ u. g  L0 D9 {0 w6 Twhen rental leases expire in Quebec. Once this date has passed some of the
/ k4 c) ?5 ?6 R, I, Kpressure is taken off the market, allowing buyers to visit more homes before
1 c3 {: [# i/ `; ~  S+ hmaking a purchase.- \4 j  K+ P& W+ W- f) ?
, y. ^. P& U/ i4 y( l
    Ottawa held its position as one of the country's most stable housing
8 u! E, w4 k1 R$ v* o, Amarkets in the third quarter, reinforced by a vibrant local economy and strong+ C5 S7 y! Z4 p1 g
confidence, resulting in modest increases in average house prices. The city
9 U6 v5 m* H6 ?6 ~+ Ccentre remained a bright spot in Ottawa, with homes in this area attracting
- W# G3 W9 ^2 G, _" uattention due to their convenient location and proximity to downtown. S7 C( W5 }; c; j6 v( X$ _
amenities.% A1 E2 j: b0 K9 C- v0 E8 l+ V

' X" t& v& e, U5 F- h8 r& |    The housing market in Toronto sustained healthy activity levels
  M8 }0 x( v# o0 J+ Nthroughout the third quarter, as a strong economy helped to maintain demand0 E4 v/ h8 C/ d9 V8 A
across the city, causing average house prices to rise moderately. Toronto has$ o5 O% r: E: J. x
continued to experience modest growth in average house prices, and has been/ _( _, s0 c( [" R. i! B$ }0 L& o
driven primarily by purchasers who are buying homes as their principle
. z) ~; }' L$ b3 x$ l/ cresidence, rather than for investment.
$ N* ]* h  d% c) t6 ], M' x) ~& B# A% o; \& ]
    The vibrant Winnipeg housing market continued to show its strength as
! I, p; ^3 s) {& ohouse prices rose during the third quarter. The booming local economy resulted  z. m0 O9 m/ m
in a historically low unemployment rate, helping to bolster consumer- v* J9 ~+ Q# w
confidence and Winnipeg's ranking as the city with the lowest capitalization% d8 E! C; w+ D& W' ^' e5 @
rate among the country's larger cities - helped to encourage buyers to enter
2 E- ~$ c7 b$ i: t: r; y" R9 y  Cthe market.
" E. ?3 d! G/ a: C
4 R3 e2 t- v' O! p# D$ Z    In Regina, the market experienced a slight seasonal slowdown through1 n0 @+ f5 T8 O4 S* A, e9 U1 f
July, as there were fewer purchasers in the market due to summer vacations. In
% _0 k# B5 i& c) G7 |) d& iAugust, activity resumed to the busy pace previously seen in the spring: X$ I# m1 g9 B
months, as the influx of purchasers made it more difficult to find a home due
/ @% Q4 |3 ]/ I) Z8 p1 ~% ~+ Nto the shortage of available inventory.
' `1 E+ a$ i3 L$ V  d& I( @" C, W$ a# F: G$ y! A
    Activity in Saskatoon remained brisk as the market maintained its; \9 G8 S8 u* e  q+ B
momentum from the busy spring sales period. The economy in Saskatoon remains" U+ I1 C4 _" R* X9 X
vibrant, as employment opportunities are abundant with many businesses
( h2 ~8 Z+ L; w* T5 P; Estruggling to make hires and having to recruit outside the province.+ k8 x7 g4 t; V4 W" L  k

7 d5 ^! K3 ^5 M* @7 u8 M# D6 s    Calgary's housing market recorded blazing average house price increases
: J" S& H, c5 U4 {  @in the third quarter, in all surveyed categories. The burgeoning economy, low! n5 t3 X# V' G4 ]+ F' F  D& ~- Q* k
unemployment rates and low inventory levels remained the leading factors that
- d8 U* V; m3 C6 x  B$ P8 Cpressured Calgary's house prices upwards. However, regardless of the soaring8 ]& O. n- Q( _$ F3 S% D
prices that characterized the market - even during the typically slower summer6 c! l8 `/ ~+ `- ]) D1 X
season - it is expected that activity will become slightly more balanced, as
# S) w3 D8 [- E4 N& c% |buyers are becoming more reluctant to participate in the frenetic activity.
) r: _6 S7 g' t% d% o; V

% m4 \- O8 F- f, {! K5 _    Edmonton's booming local economy continued to thrive in the third quarter
( f' k  U5 k6 Uas activity in the oil sands north of the city continued to flourish. Edmonton
) M  @3 U& @% r! ^3 Xremained the hub of activity for those coming to work in the oil industry,) U2 _5 i8 P) G8 w
maintaining tight inventory levels across the city, resulting in prices# z" P8 Q4 l+ @: A$ C8 d
increasing at record levels. However, as inventory levels continued to improve& C2 D5 U' Y" M% [3 ^& L
in the third quarter the rate of price appreciation should moderate slightly. D+ H) j. Y5 z6 b8 i& o- y( i8 K( G
towards the end of 2006.
    ) Y+ ~2 m1 x# Y! r$ f, ?* j
! K, [6 R: H0 W2 v1 C
While Vancouver has seen a slight reprieve from the severe shortage of8 B( ?) J0 C9 p1 x' t: k
inventory that had previously characterized the market, supply is still unable
& a* K. [( G. `6 `8 @to meet demand, driving house prices upwards. Vancouver has a very diverse
* M" I# n: W+ ?: G. v' Fgroup of active buyers - from first-time home buyers to baby-boomers to
) m, H* i0 e* \$ \1 E# p/ ?foreign investors - all of whom fuel the demand for houses, placing added+ s9 h7 K  k) e
pressure on tight inventory levels.0 X: N6 O, j4 q# g) w" Q# U# ]
' F3 Q& {8 W0 ~. S, i
    Victoria's market is vibrant and supported by strong economic
9 H( ]2 r+ D) O+ v& [$ tfundamentals, fuelled by a booming tech sector and a migration of young people. U) d; A: y/ V; K$ S
into the city that has continued to support the area's house price increases;
& e2 q6 b8 r$ ?" R7 X- [8 U3 {while increased inventory levels have afforded buyers more time when searching
$ l+ _4 i, r" ]' Nfor a home, helping to normalize the market's pace." i3 J% P4 v5 j6 t5 @% t' S

$ w6 Z+ {* K' h& f+ _' F* {    <<
3 p+ v) @( o  a: b: r* [      Survey of Canadian Average House Prices in the Third Quarter 2006
; ~8 D! s) g) k8 _2 _" ]3 h
! u/ |+ N6 P; K0 i. o# j2 N- `    -------------------------------------------------------------------------
: `6 a$ t) o  L/ @                 Detached Bungalows                Standard Two Storey) x' j& D0 c  k8 R9 l3 O4 A. d
    -------------------------------------------------------------------------) Y2 v; N3 O  T  K' Z
                     2006 Q3     2005 Q3    Bungalow     2006 Q3     2005 Q3- B: p) S! [, |/ Z) Q
    Market           Average     Average    % Change     Average     Average
2 t& k: f4 b, v$ p    -------------------------------------------------------------------------
; a" Z. X, p3 U* v; V* ~8 m    Halifax          186,333     173,333        7.5%     198,667     199,000: F( s% x' ]' L; c' }( `) S
    -------------------------------------------------------------------------
0 O% J- Q* n- z6 }    Charlottetown    145,000     141,000        2.8%     175,000     170,000
  V  O- D2 N- J    -------------------------------------------------------------------------
/ e! q, b+ H4 w1 f. E! Q7 m+ |! R, E    Moncton          135,000     127,000        6.3%     129,000     123,000
' l& M9 E' g( ?" a8 q# \    -------------------------------------------------------------------------1 o! R4 p, j2 i, Y; |. o( X6 A! b/ m
    Saint John       141,200     142,900       -1.2%           -           -
3 c2 V1 N  s/ s6 [' X: X    -------------------------------------------------------------------------; i/ a- u, H! a" N9 ]  Y1 }9 V
    St. John's       143,667     142,667        0.7%     200,667     202,333
" b* G* n. P; b8 N% L! P( [    -------------------------------------------------------------------------0 ~. U9 O$ r* |( _
    Atlantic         150,240     145,380        3.3%     175,833     173,583' {* H0 I0 ~; M1 u4 y
    -------------------------------------------------------------------------
9 L" \7 J9 ~1 [; y2 M% M' t% J    Montreal         213,691     203,500        5.0%     321,141     316,185
* ?' r. }8 @: u+ u7 }2 Q    -------------------------------------------------------------------------5 r4 A* P. J9 f  o- a
    Ottawa           290,083     278,417        4.2%     285,667     273,2504 I3 T4 n& f& y8 V7 }
    -------------------------------------------------------------------------
' k8 {3 V6 k9 b    Toronto          373,368     355,882        4.9%     481,523     474,7664 ?7 l9 O, T  J- U3 P# [' @/ `' b7 O! v
    -------------------------------------------------------------------------! A$ {7 W1 @' A
    Winnipeg         181,579     159,860       13.6%     202,337     180,707
1 i$ I: B3 x0 C" N- q7 D" e    -------------------------------------------------------------------------
2 s  [8 r3 Q1 d3 _! ]- p    Saskatchewan     170,667     156,083        9.3%     182,600     166,5008 H- z/ o; j8 ?6 `
    -------------------------------------------------------------------------
$ |* X+ f& c0 x2 R; r; s3 k: {    Calgary          395,067     252,411       56.5%     405,778     264,389
' {. A, r8 W/ O; n8 B3 O9 b+ L    -------------------------------------------------------------------------6 M; a$ ]/ U- C; m' m
    Edmonton         286,857     194,857       47.2%     316,429     206,714) ]7 N- J6 f- L7 J5 U
    -------------------------------------------------------------------------
3 N! Q: F( ]3 w2 E" N1 N    Vancouver        704,250     601,000       17.2%     794,000     697,500: |- @) u( |  w0 z
    -------------------------------------------------------------------------
4 Q: u8 @0 z+ q/ d9 W    Victoria         375,000     348,000        7.8%     403,000     391,000, |( g2 [4 Q7 y
    -------------------------------------------------------------------------& _& H# N/ f2 {
    National         300,365     258,202       16.3%     365,380     322,860
" l2 b3 z8 [; k/ q) `; I+ k    -------------------------------------------------------------------------
6 ~1 u. v8 {7 H! }! ]5 F6 C4 g
  a* }+ E7 q  _2 P    -------------------------------------------------------------
; N/ G) P) m6 U. @7 e                               Standard Condominium
6 L+ }* T5 N4 S3 H, w" L2 \1 N    -------------------------------------------------------------
+ J9 E# V& `0 _2 M                    2-Storey     2006 Q3     2005 Q3       Condo: m1 Z& ~4 l- Q. G0 v& z
    Market          % Change     Average     Average    % Change
1 g  {8 [) Q$ [4 m( z% I- o    -------------------------------------------------------------
6 X8 g  J6 _0 ?$ m# \    Halifax            -0.2%     142,000     103,000       37.9%
; z, ]6 [3 l4 H4 T    -------------------------------------------------------------4 p! X: R1 o# _8 I- w
    Charlottetown       2.9%      98,000      98,000        0.0%$ G5 \6 F) c3 L; Z8 \' H/ O
    -------------------------------------------------------------
+ s3 A& V5 s+ J( O# W6 a    Moncton             4.9%           -           -         N/A
9 M* M5 I* j. v    -------------------------------------------------------------
7 j1 w: y8 I. m1 E% }$ g    Saint John           N/A           -           -         N/A
& a0 T) K  e  t& Q    -------------------------------------------------------------5 o. J2 e8 C# Y6 ~" X3 J4 F7 O
    St. John's         -0.8%     146,333     145,667        0.5%
0 g3 l, @  E7 T: K7 x- |    -------------------------------------------------------------4 j# y: D5 t" W% Q
    Atlantic            1.3%     128,778     115,556       11.4%  G& c6 }) w% J" F' i5 K4 m) [
    -------------------------------------------------------------% w. X' @% Q5 }  A  Y# E3 e' [
    Montreal            1.6%     193,190     188,016        2.8%
" L/ z2 u0 W/ y/ R- l    -------------------------------------------------------------
; e+ c& }, G( ?/ ], _/ V& e: h0 {9 F    Ottawa              4.5%     181,083     172,250        5.1%
5 l% m8 ^, e1 Z: y! m    -------------------------------------------------------------9 @$ i! W! s% q0 p
    Toronto             1.4%     252,088     242,918        3.8%$ P$ l+ y4 I; G) X* F- {
    -------------------------------------------------------------* V6 E+ G+ \' l8 }/ T  c5 f: f# E
    Winnipeg           12.0%     105,648      96,008       10.0%7 Z6 s8 n# y# O; i* Z7 P
    -------------------------------------------------------------
, q$ d4 E$ d! q5 C1 {$ M    Saskatchewan        9.7%     106,250     101,000        5.2%
7 u9 I" g  o; G& @( ~+ F6 t5 W9 Z    -------------------------------------------------------------) s7 P$ S; r0 ]* E! f; j2 z6 B4 F
    Calgary            53.5%     245,844     153,867       59.8%( d1 M$ i+ l4 [3 d
    -------------------------------------------------------------1 N) G  c+ e6 U  A+ R/ [
    Edmonton           53.1%     200,433     131,500       52.4%
' H/ V" [. ^0 \* L3 i8 A* Q% ^    -------------------------------------------------------------
6 H3 }6 t/ n! }& I! S6 C    Vancouver          13.8%     366,250     323,250       13.3%4 M0 P2 w6 ~4 ^7 }
    -------------------------------------------------------------
& t9 O4 X& W# k! x$ q$ i' O: u    Victoria            3.1%     229,000     220,000        4.1%
, H2 c) A6 x2 a: n    -------------------------------------------------------------1 ?4 b  ^2 e4 R# h; f- K, L
    National           13.2%     211,562     185,296       14.2%
- d5 Q' y1 ^& t# O5 ~% D" x    -------------------------------------------------------------! ~9 r4 D2 Z# s* g
    >>4 m6 Z3 H- R  c' N

9 m/ M1 k/ p* E6 ]' }    Average house prices are based on an average of all sub-markets examined9 [6 Q/ W6 o4 j2 y2 g
in the area, except for the smaller markets of Charlottetown, Moncton, Saint% J' \4 D' Z0 D& a8 Z0 |4 z
John and Victoria.9 H0 K6 Z7 i) `* S. s: k7 G

9 ^) u1 V+ ^# M6 O- F    The Royal LePage Survey of Canadian House Prices is the largest, most! v- O7 J. h2 H/ L5 ]; Q3 K, r
comprehensive study of its kind in Canada, with information on seven types of# U# Z; f- Q, g, |) V
housing in over 250 neighbourhoods from coast to coast. This release# H5 ^% v! g; f1 ]
references an abbreviated version of the survey, which highlights house price' A1 L: j: }8 W8 g
trends for the three most common types of housing in Canada in 80 communities6 K! `& |5 d8 u
across the country. A complete database of past and present surveys is' V) B7 }0 E" b% V' Z
available on the Royal LePage Web site at www.royallepage.ca, and current" x, A( Q* G- @, F" i+ y
figures will be updated following the end of the third quarter. A printable
9 O% Q/ }! g7 a) ^* rversion of the third quarter 2006 survey will be available online on
1 F1 n9 L7 X: m* N' Y! T' N* d2 xNovember 15, 2006.
; L6 X  Y* u2 K0 Y    Housing values in the Royal LePage Survey are Royal LePage opinions of; Q# S4 O$ b  [# u: Y5 V
fair market value in each location, based on local data and market knowledge4 \: v! Z9 `/ c7 d
provided by Royal LePage residential real estate experts. Historical data is7 j# [! h; T8 q- V- `
available for some areas back to the early 1970s.
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