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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
8 M$ e+ m. j3 g
" N1 D( K5 S( o- Country's market poised to show growth throughout 2006 -
  f, J) g0 _9 R# o4 i
# h) U- H6 x' S* ]    TORONTO, Sept. 28 /CNW/ - For most of Canada, the housing market
0 G8 H3 u' h4 t1 {exhibited moderate price increases and stable unit sales during the third! r4 n# a! \3 M, D0 K
quarter. Wide regional variances continued to be the dominant characteristic9 l: T$ e" R$ y/ @
in the market, exemplified by frenzied levels of activity and double digit7 n) C6 J7 A) ?. M
price gains observed in the energy and commodity rich Western provinces, and
! r! ^4 b+ E4 i8 P/ k6 y+ @% }more reasonable sales volumes and moderate price appreciation in Ontario,: W4 V8 d( c: k3 e9 h% ~  d0 X3 }& X
Quebec and Atlantic Canada, according to a report released today by Royal
* @! O& C' l4 e2 @( sLePage Real Estate Services.
3 t) C. l9 l6 {, H- B7 p0 b5 W( G- y5 u. K0 y
    Nationally, market trends established through the first three quarters( V% B$ f2 ]6 q! z0 I& l8 o3 a
are forecast to continue for the remainder of the year. Robust economic! F, ]- K( H4 i( |  l# {0 Z
conditions, low unemployment rates, modestly growing salaries and wages, and7 m3 ^6 a6 k3 V
sound consumer confidence contributed to the overall strength of the8 M6 g( q# P: @5 Z  `) p
residential real estate sector.
. F# }3 _# f( q5 b5 ~6 |% F6 r; N( f: K- L: e
    Of the housing types surveyed, the highest average price appreciation
; c: t0 d9 o: C. c8 _+ ~occurred in detached bungalows, which rose to $300,365 (+16.3%)" \2 ~0 a3 v3 q& N
year-over-year, followed by standard condominiums, which rose to $211,562+ g2 r6 }( [$ x3 p
(+14.2%), and standard two-storey properties, which increased to $365,380
: P9 i% f6 ?; A8 O(+13.2%).1 _1 m1 a) ^4 M) |9 E6 s2 `2 c

3 ?4 B' h$ l9 Z2 {    "Canada's sturdy housing market continued to demonstrate steady growth
% \/ D4 p9 e8 `# p- b5 v! q/ l2 W4 Tduring the third quarter. For all but the west, we have moved on from the
% x5 {! s( m" c) ~6 `frenzied expansion that characterized the first half of this decade, and are3 H! Z9 D8 z& T6 M; \" `* r" b
poised to show continued growth at a more moderate pace," said Phil Soper,& x# T9 F! Z- M7 E# F
president and chief executive officer, Royal LePage Real Estate Services.0 c5 Z. |  q  D' B% f2 D! Z
"Gone is the sellers' market that we have lived with for some years. We
! v' V# H/ |* @$ w8 ]7 Dwelcome the more reliable conditions that are characteristic of a healthy7 p7 d7 H# |0 Y4 y* B6 Q" v
balanced market."4 h; J4 Y& a- ^5 ?# x- F

" ^  E; d+ M2 z7 |0 R    Despite the double-digit rise in average national house prices,1 \, p; e; S% M$ Y
considerable regional variances were exhibited again this quarter. The shift8 K2 S6 ~2 W5 v/ l2 ]% Q
to balanced market conditions, which began in late 2005, has continued, I% |6 ]; C6 e& h% u/ F& H
throughout most of the Central and Eastern regions of the country. In the core  T) c: R0 l! r: x
energy producing western provinces, the combination of very high in-migration,; v# l  ^& U# E5 X) ]0 n
manageable affordability, and a shortage of inventory has driven record: H- n& w7 u3 D. }% u
breaking price appreciations.
& U; z! q7 z: V9 V) {) A. q2 K" p% P; k6 e! |! c
    Echoing the second quarter and supported by Alberta's rapidly expanding# l& }* ]! e8 B6 ?- n0 r/ |1 n
economy, Calgary and Edmonton led the charge of Canadian cities with the
5 P7 y' ?; |1 p* y+ X$ t0 @1 flargest house price appreciation in all housing types surveyed.
2 _9 j$ w: O- V8 D, Q
# E* V/ X) Q2 F: G: F( J; v    In Ottawa and Toronto, growth remained steady, supported by solid0 w8 X6 X+ M( ~; }( @% r3 L
economic fundamentals, an increase in available inventory and strong consumer! r7 m3 i# Z, ^" |
confidence. While the pace of price appreciation in Ontario leveled off( {4 ~+ t  E5 m& w" c) h% Z
slightly, the province's real estate market remains poised for modest growth.
& q8 B. A% G6 W. c9 v: a8 hIn Atlantic Canada, new housing and condominium construction offered buyers
" o1 f' d2 k5 g4 y4 Mgreater selection at more competitive prices, resulting in a slower rate of, f7 H" p* Y( m4 ^; o
price appreciation when compared with 2005., k1 [' _3 y6 g: N

! N" F) T4 }; J( T0 F    While the pace of growth in Canada has slowed, the domestic housing8 [, F) d8 j4 A6 O9 g/ n' b3 Y* p( B
market is expected to outperform the American market. The economic and
; N/ y& M! T$ |0 h) U- N) L# ofinancial fundamentals driving the residential real estate sector in Canada4 ]/ G4 @" z* D* Y7 a  n
are markedly different than those found in the United States.
7 [& M+ o& K' d5 q7 N2 k" p6 q: w
$ P$ {, @) b8 p# ?5 I$ {$ Y    Added Soper: "Canada's housing market is likely to outperform the
: W+ |& E7 T1 `: _' O/ p# wAmerican market through 2007. A number of factors are working in Canada's
; o7 g2 l( z8 ~9 yfavour, including healthy personal and governmental debt levels, the$ ^( m4 P) E) d$ O" O4 q8 O6 Z
relatively modest rise in interest rates in our country, and general
7 L7 E' U! l7 z- Z+ caffordability in our major cities. In addition, Americans are now seeing the$ b% f% t- U* b) K) S) a/ U( n
downside of a tax system that encourages maximum homeowner leverage, and
; @, v# o7 h3 f2 {1 y" Saggressive financial products such as zero- and negative-amortization1 T$ u% k# K, K) r1 ]7 Z9 y8 ]
mortgages that work only in a high price growth environment."8 W( o5 A6 o- A- z8 c6 g! P2 w% z% [
1 P+ ^! c  I3 a" m
    <<: F- }( K' H% [) Q+ k" X' X
                             REGIONAL SUMMARIES6 e  U' z- q  Z2 O
    >>
& U& E2 Y9 i( E6 ?* L/ d1 _& L/ X; h
    Balanced conditions continued to characterize the housing market in
/ C) p- e2 |# A% {) \1 zHalifax, as significantly higher inventory levels helped to moderate the rate& Q& k( L2 O+ P8 B8 u( h
of price appreciation. Buyers were increasingly choosy, taking more time
- x6 V7 ]9 A0 D1 llooking for newer, low-maintenance properties that were not in need of
: D( u) a. H; f- X" G0 e, Drenovations.
$ m3 ]7 R0 D9 ^- W' L6 U" }) s
) Q! e  j* [0 o- X    The housing market in Moncton remained healthy and strong as a slight
* d' s# _  F' H% _6 K, Oincrease in inventory helped to moderate the rate of price appreciation
" \2 W; V- E# Ocompared to the same period in 2005. Activity was brisk throughout August and9 Q1 o% X6 S# \3 V
September and is expected to remain this way through the fourth quarter.
0 M3 N2 W: N& w  |! s2 C; p3 |% o4 I+ E& D
    The housing market in Saint John underwent its traditional summer
5 [( Y, p, y9 R2 b3 Vslowdown in the third quarter, with activity picking up towards the end of the8 f! H& `* D' Z' v( R% [, R1 |
quarter. The local economy continued to thrive, as construction on a new7 s  Y( b& O0 P9 F- ?: I% V% [
600,000 square-foot shopping area has begun, bringing several new box stores
; t3 b$ E' C% M6 Hto the area. Buyers have begun seeking less expensive fixtures for their homes
5 \" }  L$ z, sand are instead opting for more affordable housing options.
; S- b/ f& F  u* a- j
3 Z" ~  J2 j3 |, E3 R    In Charlottetown, the housing market started to move towards balanced
% t4 Q' e4 F9 }2 e$ b) e; ~9 n1 P0 aconditions, as some sellers had to begin to lower the asking prices on their
: \+ x- M9 y, r( |9 Hhomes to make them more competitive. Activity from out-of-town and US buyers
6 H  p/ L. [9 \1 ewas down slightly compared to 2005, likely attributable to the strong Canadian
0 }% j! k# l/ C# u( jdollar. Inventory levels began to creep up in the third quarter, providing
$ |* O8 g4 A$ d7 ]) R% L0 abuyers with more options when looking for a home.
/ W" ]4 q( r- S% ^) x. I: _7 y% y0 Q7 A8 n
    Activity in St. John's slowed slightly in the third quarter, particularly, v: y! h7 ?( e8 o+ y
among higher-priced properties, where there was a slight over-supply of homes
( {6 f* }) i7 v! c/ f7 rpriced over $200,000. Listing periods have increased when compared with 2005,1 |' r& U* A$ F1 ^
as some of the pent-up demand that had characterized the market over the last3 v. |7 X  u+ P+ c5 @5 j( u' h
few years has been satisfied, resulting in more normal, balanced conditions.1 A% P: l: V9 p$ b, c3 C; g4 L$ }

& A1 D+ a" s( d' T    Montreal's housing market recorded modest increases in average house
" T; T  N& s$ n& I' ~: Mprices, due to a slight seasonal slowdown in the third quarter as inventory( W' v; o, s; @" g4 L" w. z  `- E
levels rose. Part of this can be attributed to the fact that many renting: L( H/ ?: o/ Z" I# y
first-time buyers were motivated to close on the purchase of a home by July 1,1 B3 X8 x3 o, Q9 C, l' [
when rental leases expire in Quebec. Once this date has passed some of the
0 h* ~  u& h7 u) M1 c4 @% Mpressure is taken off the market, allowing buyers to visit more homes before
2 \1 ?# k3 _. z- b8 }0 lmaking a purchase.
6 X5 r4 e% o/ H# Z! \1 o" L
2 Z0 }  a' I, e* `7 O    Ottawa held its position as one of the country's most stable housing9 O8 G9 ]' h3 S+ \* s
markets in the third quarter, reinforced by a vibrant local economy and strong
) M) r) }# @! A3 ^# R9 cconfidence, resulting in modest increases in average house prices. The city3 k- [( u& b4 z' n( W# t
centre remained a bright spot in Ottawa, with homes in this area attracting
9 |" A4 Y( G) e1 gattention due to their convenient location and proximity to downtown
( N2 h8 F: K" h7 mamenities.. {( ~  Z" z2 I6 @5 K
( A5 @1 g4 ]( Q# n
    The housing market in Toronto sustained healthy activity levels
7 q( w' g- d! _throughout the third quarter, as a strong economy helped to maintain demand
2 N& S* N) \7 ^) s  tacross the city, causing average house prices to rise moderately. Toronto has
! F9 p! E) Z$ U! L% N6 m8 ^continued to experience modest growth in average house prices, and has been9 R: q- L2 }0 v; }
driven primarily by purchasers who are buying homes as their principle8 N; p  F) {- v$ t$ f1 a
residence, rather than for investment.
. t0 I2 f; B8 n' h- z0 i: @" D! t- P; j2 d
    The vibrant Winnipeg housing market continued to show its strength as  I/ g8 Q- f9 \. M# d
house prices rose during the third quarter. The booming local economy resulted
; S5 z2 k5 C8 X; _* s: x* @in a historically low unemployment rate, helping to bolster consumer4 W. ?; e% S! a+ L, h
confidence and Winnipeg's ranking as the city with the lowest capitalization4 E# p+ {! T0 ^) ?2 w
rate among the country's larger cities - helped to encourage buyers to enter
, e7 g. \9 c. M8 L3 R8 I5 l  f) ~the market.
7 d* {% u  H% c& D3 a2 {, u- W, C2 H  c8 x
    In Regina, the market experienced a slight seasonal slowdown through
) g, w) j0 @/ C7 d8 fJuly, as there were fewer purchasers in the market due to summer vacations. In" N3 r6 _1 Z$ ]1 C0 u0 A% W: L
August, activity resumed to the busy pace previously seen in the spring
$ L; k2 S. F: N0 Mmonths, as the influx of purchasers made it more difficult to find a home due
+ i4 I- ~* x4 f0 y! Gto the shortage of available inventory.
! M4 ^# i& ?* k# H3 q1 N" K
9 o- [, E: f9 c5 |    Activity in Saskatoon remained brisk as the market maintained its$ Z1 b* o2 F3 o+ k# D  h1 G2 j
momentum from the busy spring sales period. The economy in Saskatoon remains
: j: r# r; l2 o4 A7 ivibrant, as employment opportunities are abundant with many businesses9 s; I1 W& n% L( q+ [
struggling to make hires and having to recruit outside the province.* x/ ?. y' j) v# ^& O+ T1 {
" w$ D: _. V; W7 b
    Calgary's housing market recorded blazing average house price increases. w6 C. F# L( I8 G9 Q  j; X+ I
in the third quarter, in all surveyed categories. The burgeoning economy, low& O, D9 `) |. B3 @7 o$ x% V
unemployment rates and low inventory levels remained the leading factors that
4 j% t0 b3 D5 l9 _: A. Y9 xpressured Calgary's house prices upwards. However, regardless of the soaring! z6 W$ e; p3 R5 [  k* [
prices that characterized the market - even during the typically slower summer/ O( B; p! t& s
season - it is expected that activity will become slightly more balanced, as+ @  x+ ]( C' Y4 r8 d
buyers are becoming more reluctant to participate in the frenetic activity.
0 [, Q% ?' q( Y) r" o4 c+ v
! z9 N# N0 L" a" O
    Edmonton's booming local economy continued to thrive in the third quarter) O$ H" V5 V# }- l" I
as activity in the oil sands north of the city continued to flourish. Edmonton
/ E$ S9 u6 w% m- mremained the hub of activity for those coming to work in the oil industry,
6 A) F9 b1 I. S% F" v+ r6 i+ qmaintaining tight inventory levels across the city, resulting in prices; S7 |6 ?- y: r1 a8 H
increasing at record levels. However, as inventory levels continued to improve: u. A# g6 ?) y* ^
in the third quarter the rate of price appreciation should moderate slightly
# D6 b  B: d7 G# `+ K4 ^3 ]' @towards the end of 2006.
    ( m+ c7 @7 O+ p0 }( a1 v: _
4 y2 s/ _+ @" U9 f
While Vancouver has seen a slight reprieve from the severe shortage of7 @9 f8 F4 H" X
inventory that had previously characterized the market, supply is still unable3 C. d$ D, l  z, o* \9 c1 [9 `
to meet demand, driving house prices upwards. Vancouver has a very diverse
+ u+ z  F  R  g1 a1 N7 H" lgroup of active buyers - from first-time home buyers to baby-boomers to  e$ c) g* B* z! z' T" V
foreign investors - all of whom fuel the demand for houses, placing added4 Z- c/ d  a. P: w. ?& Q
pressure on tight inventory levels.
  p$ Y8 l" X1 z/ s' V7 e; x$ z# y8 f8 ?
    Victoria's market is vibrant and supported by strong economic; D8 e6 G, A) P  Y/ S/ @: \5 S% M, r
fundamentals, fuelled by a booming tech sector and a migration of young people$ q; s- k  i7 {5 |* s
into the city that has continued to support the area's house price increases;
3 z8 h0 {# _! l" cwhile increased inventory levels have afforded buyers more time when searching
# `2 y2 ~) \  e: w" U$ C. vfor a home, helping to normalize the market's pace.$ ^0 n5 T' h- b% O
$ i: j1 z- C- A0 I7 j
    <<4 G% ^0 O, ^' S* O, |& e
      Survey of Canadian Average House Prices in the Third Quarter 20061 `& J& C! J; T0 o5 K
4 K- p  `7 a: r1 F1 j" E8 d4 `& _
    -------------------------------------------------------------------------! T/ A  Y9 k: z
                 Detached Bungalows                Standard Two Storey' l1 Y; B+ {  h" w& t7 T4 {6 ~
    -------------------------------------------------------------------------
4 s- v3 G& k2 B9 h& L                     2006 Q3     2005 Q3    Bungalow     2006 Q3     2005 Q3
: [& Y% u9 R& _( o    Market           Average     Average    % Change     Average     Average
4 k9 Y( ]' x8 Q( d! q6 F    -------------------------------------------------------------------------
' O" Z0 v; M1 |; H, l    Halifax          186,333     173,333        7.5%     198,667     199,000* ~: l3 j) l1 H& p3 }% H
    -------------------------------------------------------------------------5 e5 G, [' ~  D9 z% o; d5 j
    Charlottetown    145,000     141,000        2.8%     175,000     170,000* e/ U- [! J4 {: x9 k7 Q
    -------------------------------------------------------------------------+ V0 O( m! r; W# m" q& g# ~
    Moncton          135,000     127,000        6.3%     129,000     123,000
7 |6 v9 x  A$ G. K5 h    -------------------------------------------------------------------------$ ^( ^/ M: \- D9 K  C* L/ I: W. M
    Saint John       141,200     142,900       -1.2%           -           -
; K8 Z' P% H) }    -------------------------------------------------------------------------* t  k1 D: k" {! n; o
    St. John's       143,667     142,667        0.7%     200,667     202,333
6 B- ?/ j2 v- P. Q- q: {8 J    -------------------------------------------------------------------------
4 `: V7 B; B# l5 q" ]' }- \    Atlantic         150,240     145,380        3.3%     175,833     173,583
  I7 r0 r. Q7 H) `% n- ]% [8 F    -------------------------------------------------------------------------8 `% _" n" t$ y3 @" t. l3 J: h
    Montreal         213,691     203,500        5.0%     321,141     316,185) U. R3 ?4 X+ A1 ]* u8 h9 p. k' K/ E
    -------------------------------------------------------------------------1 @/ r  t% U6 o1 e! J( Z( A. E8 s1 v
    Ottawa           290,083     278,417        4.2%     285,667     273,2500 P% D8 _7 V$ f0 @
    -------------------------------------------------------------------------# W) |7 Z2 k, m
    Toronto          373,368     355,882        4.9%     481,523     474,766% ]% t2 ^# ~' h/ s1 C5 |& y5 m
    -------------------------------------------------------------------------
! m  W* z" y' X4 ^+ @4 B# s3 l    Winnipeg         181,579     159,860       13.6%     202,337     180,707
8 z) W% e  y6 A+ ^( I, `    -------------------------------------------------------------------------0 m4 T/ f! a! e' E8 P0 z0 }2 S) @
    Saskatchewan     170,667     156,083        9.3%     182,600     166,500# e4 }4 A" Q8 a% X
    -------------------------------------------------------------------------: ~+ u7 m) b; t3 u8 q! n/ _
    Calgary          395,067     252,411       56.5%     405,778     264,389. N& ?8 X: B5 v9 f7 P% P( @* p' I
    -------------------------------------------------------------------------6 U6 j# M# r, @  D
    Edmonton         286,857     194,857       47.2%     316,429     206,714
1 h) ^" f6 N$ R+ h. I5 ~% u( l    -------------------------------------------------------------------------
* t% P" t# i: \' f! w    Vancouver        704,250     601,000       17.2%     794,000     697,500. |( `; }- |7 P
    -------------------------------------------------------------------------( y: @+ e" }1 b( P7 H; O  A+ ~
    Victoria         375,000     348,000        7.8%     403,000     391,0002 c0 o7 @* |2 t" \' [! P7 x
    -------------------------------------------------------------------------
- W% Y3 i; j: q% g    National         300,365     258,202       16.3%     365,380     322,860
* ~3 ^! @2 H8 ?! h( c    -------------------------------------------------------------------------
! U9 |1 s/ J% M: n: ^/ @# d  p% T$ ]" C# M2 q. i* W3 c5 h
    -------------------------------------------------------------
# d: D6 ]: {5 X+ D" `                               Standard Condominium7 Y# i. N3 I. e% O" j
    -------------------------------------------------------------
, |7 ]1 K* ^! a3 O( a                    2-Storey     2006 Q3     2005 Q3       Condo
3 R& y# {+ h8 C# x: \/ U, ^9 n    Market          % Change     Average     Average    % Change
& h5 n* b- B% h) {9 ~    -------------------------------------------------------------
% H! R, h4 i' s8 m9 }, G3 g% w5 o    Halifax            -0.2%     142,000     103,000       37.9%( B; P, J/ i$ k  q6 {$ M+ |
    -------------------------------------------------------------7 \) @3 {/ z* {# K! }, H3 ~
    Charlottetown       2.9%      98,000      98,000        0.0%( c2 x* M$ W, h1 m  g
    -------------------------------------------------------------- v& I0 Z, \0 J2 z3 f+ N
    Moncton             4.9%           -           -         N/A6 z3 ?, q6 y$ n+ u
    -------------------------------------------------------------
  c( _3 t  O) n, o4 M/ I    Saint John           N/A           -           -         N/A
" ^, Z( E) ?6 ~5 Y    -------------------------------------------------------------7 t, @3 _+ v3 A) s8 G8 c% e
    St. John's         -0.8%     146,333     145,667        0.5%
* v6 a& U! q7 X1 T; r* `    -------------------------------------------------------------
" j; O; q, p4 Q+ J    Atlantic            1.3%     128,778     115,556       11.4%  p" o" j5 ~: u# t0 \
    -------------------------------------------------------------7 k" V6 s8 i: `
    Montreal            1.6%     193,190     188,016        2.8%$ d7 r' z+ o) Z' f% y
    -------------------------------------------------------------1 `) j+ j+ ^& m
    Ottawa              4.5%     181,083     172,250        5.1%* u9 B/ Y5 O5 w6 s/ ^
    -------------------------------------------------------------
1 G; b# u0 P6 d: j' c0 w0 M    Toronto             1.4%     252,088     242,918        3.8%0 G# r  z  o2 S) D1 J
    -------------------------------------------------------------
9 ?! l! G; n7 _. i) [4 y0 Q/ q    Winnipeg           12.0%     105,648      96,008       10.0%
+ b8 Z* N# A* e$ d3 K# x    -------------------------------------------------------------4 J1 H0 Y( W. D. S7 q3 |- d# w* l
    Saskatchewan        9.7%     106,250     101,000        5.2%! Y% G( x. |- u
    -------------------------------------------------------------
  q4 d5 t9 O& t3 F    Calgary            53.5%     245,844     153,867       59.8%% ?1 z. p( M. J/ s7 F+ b8 k
    -------------------------------------------------------------
/ o8 S* ~1 P6 r; s6 n2 o    Edmonton           53.1%     200,433     131,500       52.4%' K( E2 T! E0 t0 P, i
    -------------------------------------------------------------
$ E9 X' l1 f8 I) U2 `    Vancouver          13.8%     366,250     323,250       13.3%  G6 h4 z3 Y( f- X8 ?  `& Z
    -------------------------------------------------------------, I# W6 R! `# @4 ^+ N
    Victoria            3.1%     229,000     220,000        4.1%
7 R1 p  r0 K  Z3 v* z5 T6 ~4 B    -------------------------------------------------------------
% c9 \3 N6 l0 m    National           13.2%     211,562     185,296       14.2%
+ O" e% w: L+ ?" V& H1 W4 [    -------------------------------------------------------------1 M# V0 [; K! T/ F. B8 q
    >>4 L$ U8 Z2 f9 F! t% D2 N
2 \7 L7 ?5 N# o
    Average house prices are based on an average of all sub-markets examined5 j5 ~8 r" K: w( Q
in the area, except for the smaller markets of Charlottetown, Moncton, Saint
; {% N2 }! y5 P; a  C2 H& CJohn and Victoria.1 S3 i$ a4 s: j3 m9 ]

" V2 U$ ~0 [4 Z5 B, g: [    The Royal LePage Survey of Canadian House Prices is the largest, most
- I) V( F2 X( F9 C, B. F/ S* ycomprehensive study of its kind in Canada, with information on seven types of/ @  i+ I, r3 S: l
housing in over 250 neighbourhoods from coast to coast. This release
# `- F  ]% R9 sreferences an abbreviated version of the survey, which highlights house price2 Z3 G4 J/ J0 I$ W4 ]
trends for the three most common types of housing in Canada in 80 communities( k& T; s! i: R0 i  [0 K9 ~$ A. x
across the country. A complete database of past and present surveys is
3 K$ [* Y1 g0 b1 u/ g0 C. Aavailable on the Royal LePage Web site at www.royallepage.ca, and current
2 e  u5 H- |) ~" `( L0 B5 }7 Tfigures will be updated following the end of the third quarter. A printable
; {  e! i% S- ~version of the third quarter 2006 survey will be available online on
* S7 Z. [+ }0 ~" y3 |  H6 f  {November 15, 2006.) R# C& e8 |: {9 A# F
    Housing values in the Royal LePage Survey are Royal LePage opinions of- K9 D+ W$ I1 N( j! E$ N/ x$ A4 u( G
fair market value in each location, based on local data and market knowledge( M% _2 u4 @' @( z. Y1 G
provided by Royal LePage residential real estate experts. Historical data is
& V9 r8 {( z  q! N6 Tavailable for some areas back to the early 1970s.
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