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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 ( W8 x1 y. b; v* |' o4 F
& T* @; `( {# {* o: a, k& a
- Country's market poised to show growth throughout 2006 -! ^8 S& ?% N" }: c: c* |2 d

  t, K% y* V$ X/ o    TORONTO, Sept. 28 /CNW/ - For most of Canada, the housing market
0 Q! H+ X* }5 k2 K0 g% e! _1 N$ gexhibited moderate price increases and stable unit sales during the third
) v+ l# [0 P8 t4 X5 q! p" O; Bquarter. Wide regional variances continued to be the dominant characteristic
+ I1 C) f5 c8 @) F; Zin the market, exemplified by frenzied levels of activity and double digit" F  f$ Q$ X& w/ e* p* u: B. K. r
price gains observed in the energy and commodity rich Western provinces, and
0 ]5 |- H! y3 d' \8 Cmore reasonable sales volumes and moderate price appreciation in Ontario,2 h. Q1 o8 L5 y% w2 S& X
Quebec and Atlantic Canada, according to a report released today by Royal
' {. s0 ?! m5 a$ e" `: ALePage Real Estate Services.8 G2 Q: _! e& e. B2 [
* o- W( I6 v1 U- o8 P( {0 E
    Nationally, market trends established through the first three quarters
/ @, }9 u* P' `are forecast to continue for the remainder of the year. Robust economic
7 ]- T/ F7 [5 Zconditions, low unemployment rates, modestly growing salaries and wages, and
- _( q2 Y6 e0 M' o/ l, W3 o3 Jsound consumer confidence contributed to the overall strength of the2 w6 C3 `% K: W5 d% A1 k0 ]4 k
residential real estate sector.4 E9 B/ X/ u) N  ~  j7 f6 w/ B
$ A5 ?# s" F: W! Y$ }
    Of the housing types surveyed, the highest average price appreciation8 W7 b0 ~  N* P2 Z1 `
occurred in detached bungalows, which rose to $300,365 (+16.3%)- e. C* w( H6 c: t- s& ^8 G3 a+ F* ]
year-over-year, followed by standard condominiums, which rose to $211,562" i" x5 R* O' |6 b
(+14.2%), and standard two-storey properties, which increased to $365,380
& s1 O) C0 [" F  d- @(+13.2%).+ ^% Z+ ]( N9 M. h

% i( T1 u+ E* D' w  Z( H& @    "Canada's sturdy housing market continued to demonstrate steady growth8 z2 s; }+ ?$ T2 J
during the third quarter. For all but the west, we have moved on from the
& C* o: S: G9 T3 [frenzied expansion that characterized the first half of this decade, and are
  L  A1 ~: p: q  q  E( q3 I. lpoised to show continued growth at a more moderate pace," said Phil Soper,8 V' ]3 U; A8 l7 ?6 c, t
president and chief executive officer, Royal LePage Real Estate Services.2 [: l0 H5 S1 V+ b; [0 K& S
"Gone is the sellers' market that we have lived with for some years. We3 L/ G% N. I8 B4 }  P1 D
welcome the more reliable conditions that are characteristic of a healthy
2 W0 e+ J7 N) @. J% ebalanced market."% @: q6 u0 z8 Z$ {5 H

! F, J  N# \! H- Z    Despite the double-digit rise in average national house prices,
& S% f1 ?3 f+ r7 q7 jconsiderable regional variances were exhibited again this quarter. The shift( e9 L/ X5 V5 r% q+ \! x. |4 m# s
to balanced market conditions, which began in late 2005, has continued4 j0 k0 x& E" o! j3 e+ j. i
throughout most of the Central and Eastern regions of the country. In the core
: U( D! ?" I/ n. M. J- c$ ]energy producing western provinces, the combination of very high in-migration,
5 A8 O9 O2 j& C! H3 C. V3 E6 ymanageable affordability, and a shortage of inventory has driven record
2 w$ e. c3 W) L$ e1 M. O4 _breaking price appreciations.' G8 }% U- [% r" i( L+ H3 C

' ^* p3 R5 G) f( x. T, P9 ?, t! B    Echoing the second quarter and supported by Alberta's rapidly expanding
5 W( F. y% w- C, Ceconomy, Calgary and Edmonton led the charge of Canadian cities with the! |, D) R! v! ]' I0 b, `2 E
largest house price appreciation in all housing types surveyed.7 H) m" v0 `9 ~$ D* R) [& \& Y* o

8 H8 N# B: \2 \& j; D+ A2 D    In Ottawa and Toronto, growth remained steady, supported by solid
* k2 m: X& z& f7 ^( J. Geconomic fundamentals, an increase in available inventory and strong consumer4 ~& p( j, e- |. y# v
confidence. While the pace of price appreciation in Ontario leveled off& D% P  A; h& I$ u9 K% z
slightly, the province's real estate market remains poised for modest growth.. ]- Z' f# F. B+ [0 c' u
In Atlantic Canada, new housing and condominium construction offered buyers. V9 [; u1 ]8 b! ], R. y6 S( v
greater selection at more competitive prices, resulting in a slower rate of
: M8 m- G) P7 _price appreciation when compared with 2005.6 K& \9 A7 T0 @. q( k
% v- h4 O1 `, y- i+ u
    While the pace of growth in Canada has slowed, the domestic housing- |% z0 x  f1 _5 D, ?& f0 t
market is expected to outperform the American market. The economic and
2 H; A- h7 Z2 k% I7 k  [! ~- S$ ]5 `financial fundamentals driving the residential real estate sector in Canada% t( L. J! ~$ T% H+ N# A* B9 ^
are markedly different than those found in the United States.4 R. N5 G5 b& a# E4 {2 B7 q
! Z3 X. f8 D5 B. x; d! p, p
    Added Soper: "Canada's housing market is likely to outperform the
) ?  |' _+ X7 u& GAmerican market through 2007. A number of factors are working in Canada's0 ^1 u) j) f% M2 C8 k3 P2 w
favour, including healthy personal and governmental debt levels, the6 G5 P+ R" a+ a. `: \' Z" \
relatively modest rise in interest rates in our country, and general8 Z+ W4 s" G, E8 A  c- p" J
affordability in our major cities. In addition, Americans are now seeing the, U3 P+ I, r9 V/ c+ S/ t; W
downside of a tax system that encourages maximum homeowner leverage, and
! u1 u3 M. d* f% y: v1 h# P  q9 o! Gaggressive financial products such as zero- and negative-amortization
$ d( |! d7 Y0 t! Q8 Mmortgages that work only in a high price growth environment."# s! k8 P  B  m( z

- B5 ~  X* \# R) q* y3 v5 |% i    <<$ o4 t3 b% Y/ ^( m/ V( K1 j, `
                             REGIONAL SUMMARIES
. T; \% S+ F0 ^! W2 b8 R" Q6 o1 i    >>& Z, ~. Y* b. e; O# x& T; ^
' P: M& w( F9 H: a* D# d0 @5 b
    Balanced conditions continued to characterize the housing market in0 m4 B; K) }4 y) |5 f2 k" H
Halifax, as significantly higher inventory levels helped to moderate the rate
9 y7 P  E$ }1 R& P8 qof price appreciation. Buyers were increasingly choosy, taking more time1 x$ ?. q* W9 H' Z) i
looking for newer, low-maintenance properties that were not in need of
( l1 D7 d+ M/ X6 `& Y  |9 drenovations.! Y& Y- ]+ J5 f7 }5 q4 U
# U3 Z: P  _# D, Y& W; l5 N
    The housing market in Moncton remained healthy and strong as a slight9 P/ s/ I1 S/ H7 w, _% b
increase in inventory helped to moderate the rate of price appreciation. H# y  e# s# W3 |
compared to the same period in 2005. Activity was brisk throughout August and
* r' y$ d6 z, X0 gSeptember and is expected to remain this way through the fourth quarter.
% _5 F2 B6 r8 h7 m
! o* j5 F! A! m! X: ^! l; g3 U    The housing market in Saint John underwent its traditional summer
" H) X/ h) Q& q7 a) Yslowdown in the third quarter, with activity picking up towards the end of the
" e$ S& y, s/ H( F: X! I- uquarter. The local economy continued to thrive, as construction on a new
, ^5 k/ P4 U3 x/ \+ Y, I600,000 square-foot shopping area has begun, bringing several new box stores
: R  h" M5 r$ h9 }to the area. Buyers have begun seeking less expensive fixtures for their homes7 n$ M; B: G6 m/ ~( }
and are instead opting for more affordable housing options.
! A5 g0 l1 h3 E. t9 Z, J
. q: J% r1 W% l    In Charlottetown, the housing market started to move towards balanced  X2 n# f" Z; f' r
conditions, as some sellers had to begin to lower the asking prices on their
* K8 R3 D  q' G$ x: j/ a9 \; J  lhomes to make them more competitive. Activity from out-of-town and US buyers1 D* y, j+ g6 H/ h' t
was down slightly compared to 2005, likely attributable to the strong Canadian( o$ ]) X' t" B6 E
dollar. Inventory levels began to creep up in the third quarter, providing
: ?5 t" o. W8 D+ a3 }buyers with more options when looking for a home.$ @: F- U/ q, v) b' g

: L- ^$ n6 F; y    Activity in St. John's slowed slightly in the third quarter, particularly, Z$ p, J5 q% G1 \' u) Y. B2 F
among higher-priced properties, where there was a slight over-supply of homes9 }% X0 M- {: I5 [& t. b
priced over $200,000. Listing periods have increased when compared with 2005,
. v( |" Z7 L5 a. Uas some of the pent-up demand that had characterized the market over the last) z, q9 y1 i  E7 U1 g% n7 c( b5 Y
few years has been satisfied, resulting in more normal, balanced conditions.( j+ k1 f, g6 D: z, T
! _! a/ x* v- a7 \
    Montreal's housing market recorded modest increases in average house, _* [; y! g: N& k  `
prices, due to a slight seasonal slowdown in the third quarter as inventory
: O: D8 l; u1 \. [- r0 s( t. G5 plevels rose. Part of this can be attributed to the fact that many renting
" U9 [0 }0 ?) c/ [4 [# C9 Bfirst-time buyers were motivated to close on the purchase of a home by July 1,) h; s. A1 t* Q
when rental leases expire in Quebec. Once this date has passed some of the
" j. S) O1 \0 p' E! q# D8 f- hpressure is taken off the market, allowing buyers to visit more homes before
: B% A6 e1 ^. r5 v; i# _, ^2 @0 Pmaking a purchase.$ M1 t9 J. W& P

( x  ?& Y3 g$ m    Ottawa held its position as one of the country's most stable housing3 Z  `4 Q7 g; J% _# Q* E2 n
markets in the third quarter, reinforced by a vibrant local economy and strong
* F6 \5 O7 z$ V/ D; r) Sconfidence, resulting in modest increases in average house prices. The city
# }, }: y' }8 W! i) W' \! _0 Fcentre remained a bright spot in Ottawa, with homes in this area attracting. s, k  n+ e- h, Y* e
attention due to their convenient location and proximity to downtown* M& N+ T+ _" x* b( Q7 s8 B/ `
amenities.
% V' c& d; R6 U7 c0 L/ ^8 a: e" O# X! H0 p
    The housing market in Toronto sustained healthy activity levels0 U2 @& d& W/ K- B. O! w
throughout the third quarter, as a strong economy helped to maintain demand/ |# r: q) @: d) G/ r
across the city, causing average house prices to rise moderately. Toronto has
! g+ K' t* a4 `# o5 J% {continued to experience modest growth in average house prices, and has been
) Y8 U5 L7 ~$ G/ H- h. q, E: f( Ydriven primarily by purchasers who are buying homes as their principle' N+ h  d; @. r" y
residence, rather than for investment.; @* D, n: P: c! O7 R6 c. v

: ?, u  c0 Z+ |  C6 U' j, T    The vibrant Winnipeg housing market continued to show its strength as5 Q0 P) ], s8 E: O. U+ A
house prices rose during the third quarter. The booming local economy resulted
9 a$ B! h, F+ k. {7 O0 \: p6 d; \in a historically low unemployment rate, helping to bolster consumer
- g" F; J% I) H* b# u) K$ pconfidence and Winnipeg's ranking as the city with the lowest capitalization
* q; C8 e# i# L' C9 ?" Qrate among the country's larger cities - helped to encourage buyers to enter  \: t) |7 n- k+ d" y# r
the market.
4 O2 O, B: b! ]3 o8 v1 z+ t7 c/ ]* ]8 b; h5 [! Y# ^  N+ J/ J
    In Regina, the market experienced a slight seasonal slowdown through
9 y/ J) _! @, V# J$ U- A" L6 h  bJuly, as there were fewer purchasers in the market due to summer vacations. In
7 J, x4 E! Y( ?" s) ]6 J1 @- GAugust, activity resumed to the busy pace previously seen in the spring. F- f# Y8 ~! D, j! |( `" @" V; A
months, as the influx of purchasers made it more difficult to find a home due; a& o9 l, m7 m+ k! z
to the shortage of available inventory." H/ G$ y: |  J* w

* X0 ^# s+ u+ ]9 q0 v9 m9 D    Activity in Saskatoon remained brisk as the market maintained its
- ?. k2 @8 ~7 O" X! Qmomentum from the busy spring sales period. The economy in Saskatoon remains
3 o; d. {$ m% [vibrant, as employment opportunities are abundant with many businesses
' B  l2 g6 }8 E% n4 }4 J2 F# ystruggling to make hires and having to recruit outside the province.
3 e. M' g$ {- _5 E9 R4 R7 h0 U& \' K2 k0 `
    Calgary's housing market recorded blazing average house price increases5 C7 S' ~$ C4 U9 x& M! E
in the third quarter, in all surveyed categories. The burgeoning economy, low& J" _6 n; D: N, H8 `
unemployment rates and low inventory levels remained the leading factors that6 j8 `) h. x! M7 v
pressured Calgary's house prices upwards. However, regardless of the soaring
5 Q  P6 G$ P" S' _; ~/ Y5 vprices that characterized the market - even during the typically slower summer- C2 P$ a$ _* q! u8 Q
season - it is expected that activity will become slightly more balanced, as
# z/ `+ p1 M+ @( ^* qbuyers are becoming more reluctant to participate in the frenetic activity.

4 C; {: D' J5 w( \1 ?
; t, H! J5 d7 V2 s' P+ h    Edmonton's booming local economy continued to thrive in the third quarter9 d8 C8 d8 ^' h6 \3 p
as activity in the oil sands north of the city continued to flourish. Edmonton/ z4 u# v3 G8 }: P1 U
remained the hub of activity for those coming to work in the oil industry,
2 x3 \5 ~/ _: {- v. `maintaining tight inventory levels across the city, resulting in prices0 ^' x6 N- s! m. @6 e/ ^" z0 n
increasing at record levels. However, as inventory levels continued to improve1 c9 j3 n1 l! r: j. v
in the third quarter the rate of price appreciation should moderate slightly
2 ]2 N# v5 U8 c7 _; z. _towards the end of 2006.
    8 O0 Z6 A2 J* K
% p/ z9 C5 G6 w7 W
While Vancouver has seen a slight reprieve from the severe shortage of
$ F3 p9 V0 c- x6 pinventory that had previously characterized the market, supply is still unable
; g: q/ M) x) d2 i/ P0 m' lto meet demand, driving house prices upwards. Vancouver has a very diverse4 x. Y# [+ ]* N  ^4 d/ p
group of active buyers - from first-time home buyers to baby-boomers to
* p$ u6 A9 n/ a# W# r. U. `foreign investors - all of whom fuel the demand for houses, placing added! c" L- {, F5 _5 d  }& o6 O
pressure on tight inventory levels.
+ z+ c" ~9 j9 L! u- r' S  X! D+ P5 W6 p; f* c: ~
    Victoria's market is vibrant and supported by strong economic+ p# N9 x7 Z: J/ }2 `- @7 k
fundamentals, fuelled by a booming tech sector and a migration of young people  {$ W% J$ J! @1 a2 d
into the city that has continued to support the area's house price increases;; S, r) F  O$ L: k/ q2 T
while increased inventory levels have afforded buyers more time when searching
# E! o% F' j4 \+ X! Z- \for a home, helping to normalize the market's pace.
! J; M6 E- s1 ?/ _2 `4 E3 q  X- X& y9 o4 v& u+ E3 S
    <<  O. c* h* D4 x8 K
      Survey of Canadian Average House Prices in the Third Quarter 2006  R7 \8 W4 z8 y9 |5 v4 E9 Y5 s! T

2 C+ x! Q& N8 Z. V% C( M4 H    -------------------------------------------------------------------------6 N0 d% w+ x1 ?: ?
                 Detached Bungalows                Standard Two Storey) U& _# s3 J' k' a* `' s6 @; ^# X7 D
    -------------------------------------------------------------------------  e' W, h  [+ U0 S7 I- L, U& y
                     2006 Q3     2005 Q3    Bungalow     2006 Q3     2005 Q3
8 \" N$ o  q2 {. Y& D! _& N( B    Market           Average     Average    % Change     Average     Average
2 j: Z4 k3 }5 `# D    -------------------------------------------------------------------------- i* H) \6 `8 E* f4 F! V: E, `! r
    Halifax          186,333     173,333        7.5%     198,667     199,000
, g  z/ S* }# u5 c3 ^    -------------------------------------------------------------------------
6 y2 ~1 \* \' m1 [6 W5 j( k9 l    Charlottetown    145,000     141,000        2.8%     175,000     170,0004 M' z* ]: c# f. v. I8 |
    -------------------------------------------------------------------------" Y7 C0 l. k1 O, N
    Moncton          135,000     127,000        6.3%     129,000     123,000" ^3 c0 ]: Q- a; }' g% N5 ?& U
    -------------------------------------------------------------------------
* T1 X; e1 h' Q2 H5 N    Saint John       141,200     142,900       -1.2%           -           -+ b2 m# `1 c  K
    -------------------------------------------------------------------------* W- n8 Q0 p' M. Z0 s
    St. John's       143,667     142,667        0.7%     200,667     202,333: z$ [9 l1 q% I
    -------------------------------------------------------------------------
$ p* M; _: A, y; [    Atlantic         150,240     145,380        3.3%     175,833     173,583
4 Z! X8 _1 N+ W! _& a    -------------------------------------------------------------------------
& @0 d+ P5 @& J4 h  P    Montreal         213,691     203,500        5.0%     321,141     316,185
- n( O. A# `2 J    -------------------------------------------------------------------------
7 g0 u; A: D( @5 A- V0 S    Ottawa           290,083     278,417        4.2%     285,667     273,250
; ~) v# N5 u& x% [) r    -------------------------------------------------------------------------+ t/ i- |" p* ?, M: c+ w2 ?
    Toronto          373,368     355,882        4.9%     481,523     474,766. r; _' {0 J- G6 M8 e2 L6 d
    -------------------------------------------------------------------------0 n" `, O5 O8 @4 b6 f- A, O
    Winnipeg         181,579     159,860       13.6%     202,337     180,707
, ]( j2 J: t! L  H  F' y" m1 Z, Q' a$ Y    -------------------------------------------------------------------------+ z/ u# U# y+ y; M6 f' b
    Saskatchewan     170,667     156,083        9.3%     182,600     166,500
0 Y0 w4 `) j0 c5 Q; z+ y/ @    -------------------------------------------------------------------------
! D6 A4 Q' T6 N! }! q  Q- i: O    Calgary          395,067     252,411       56.5%     405,778     264,389  T3 {0 y$ R  O5 L! \6 t
    -------------------------------------------------------------------------
. A+ F2 _/ o; p, _4 u    Edmonton         286,857     194,857       47.2%     316,429     206,714" o( i1 W+ h# ]! B# S. Z, m
    -------------------------------------------------------------------------
1 C) c% P3 s) M8 r* w5 j2 l    Vancouver        704,250     601,000       17.2%     794,000     697,500" c' z" [# O2 x) o, @# y; {
    -------------------------------------------------------------------------
# {5 c& ~. F9 s9 }    Victoria         375,000     348,000        7.8%     403,000     391,0005 \3 l9 T+ _9 E8 S) M+ ~( ?5 U
    -------------------------------------------------------------------------
. d: ^* ?+ ^3 E( E& f* N    National         300,365     258,202       16.3%     365,380     322,860
. t7 o3 S4 M0 Z% Z1 y    -------------------------------------------------------------------------
! [. ~, A! C9 S7 [0 r0 ]( m& d" F8 ~% a1 a, r/ k/ P# h
    -------------------------------------------------------------+ k9 ^4 X- n3 ?3 f& x! l& h) S
                               Standard Condominium
3 d- o+ s& f; L0 z. j7 |- W! n    -------------------------------------------------------------
) G. P, H' k$ C' v/ H& P6 I6 _, @: {                    2-Storey     2006 Q3     2005 Q3       Condo  {8 Q3 S( _3 h$ v# d2 _( `  G
    Market          % Change     Average     Average    % Change
  m/ I* H4 j( }$ Q9 s# B- D    -------------------------------------------------------------) u: U/ C" @8 R8 w, I
    Halifax            -0.2%     142,000     103,000       37.9%8 f: l' u9 L! U1 R9 k: h
    -------------------------------------------------------------
1 i; u, {$ E6 t* Y$ n    Charlottetown       2.9%      98,000      98,000        0.0%* H3 }! L  S) s/ P
    -------------------------------------------------------------
; X0 a( v& D8 {1 c* a* e$ |# N8 Z    Moncton             4.9%           -           -         N/A' R1 P. y1 B6 P7 e! k7 j
    -------------------------------------------------------------6 K* ~  e* X+ H( _( q
    Saint John           N/A           -           -         N/A
3 C/ B! e" N" `: t    -------------------------------------------------------------
4 f& E1 I; f1 x  ?+ T' F9 R    St. John's         -0.8%     146,333     145,667        0.5%( |1 {* f7 J' ]+ }5 G( o% a$ @( s
    -------------------------------------------------------------
# O5 u5 U2 m4 C2 a8 w8 Y. f1 l    Atlantic            1.3%     128,778     115,556       11.4%
# U- b: `  i* H7 j; V4 r    -------------------------------------------------------------
* T2 b+ K. C6 @0 s- n$ [. K# z    Montreal            1.6%     193,190     188,016        2.8%7 ]/ [0 _7 n8 V+ l( k2 n
    -------------------------------------------------------------2 j% R# P3 R1 @- C
    Ottawa              4.5%     181,083     172,250        5.1%
" o# U" k# v; O& u/ O" {    -------------------------------------------------------------8 B7 C, Q  C/ M# D( T7 P9 }
    Toronto             1.4%     252,088     242,918        3.8%
+ `5 _, \" ?9 j    -------------------------------------------------------------: Y8 A5 ?# U7 V; c% {$ F
    Winnipeg           12.0%     105,648      96,008       10.0%3 M6 Y0 _% u0 _& a: Z1 M& c& Q
    -------------------------------------------------------------  |" \4 i8 b8 u6 x' r
    Saskatchewan        9.7%     106,250     101,000        5.2%
. ~0 b; K- V+ u# L  R# t$ l    -------------------------------------------------------------2 r) f6 a' }  b+ Y
    Calgary            53.5%     245,844     153,867       59.8%5 c% d# s/ K! c' y* A4 `
    -------------------------------------------------------------
; l  w2 |; y  f* @; o/ X    Edmonton           53.1%     200,433     131,500       52.4%  i: k* v6 S  y4 y7 Y5 I) R0 R
    -------------------------------------------------------------
8 c3 }3 q  }( o    Vancouver          13.8%     366,250     323,250       13.3%
  Q' ~) o6 O) Q$ y    -------------------------------------------------------------
& i* q6 p/ E$ @    Victoria            3.1%     229,000     220,000        4.1%& m' c7 k. L; K6 L" i4 e6 \
    -------------------------------------------------------------( x+ h( Y- o" p! d9 L4 M! J0 Y% H- u
    National           13.2%     211,562     185,296       14.2%
$ t& R5 J) W8 K5 u    -------------------------------------------------------------- Z) ]& B! U6 u$ ]* m4 |- G) x
    >>4 c6 {! B5 P2 k- s

  L' v4 h1 E* K5 K    Average house prices are based on an average of all sub-markets examined
% R9 h6 A* p8 K. jin the area, except for the smaller markets of Charlottetown, Moncton, Saint. k* J9 S" H) c2 I/ Q
John and Victoria.6 q' |- S! b' c/ n' J1 a' v( k  a
) Y, K( Y; a/ @; V7 M6 J
    The Royal LePage Survey of Canadian House Prices is the largest, most" I7 e" S' V# O  B# |' g
comprehensive study of its kind in Canada, with information on seven types of7 j! q0 R/ i. C- V( Z1 `
housing in over 250 neighbourhoods from coast to coast. This release
5 z, n3 c, }3 y- Mreferences an abbreviated version of the survey, which highlights house price3 p0 O, \3 n- ?. ~; G$ b
trends for the three most common types of housing in Canada in 80 communities$ u0 T6 Z. j! _- `
across the country. A complete database of past and present surveys is" J! n* q* v' y, P
available on the Royal LePage Web site at www.royallepage.ca, and current5 J: g$ R6 x; T  \
figures will be updated following the end of the third quarter. A printable
: l$ m, k8 _- l! M! Vversion of the third quarter 2006 survey will be available online on- I  c$ b& z' N. S- J' x- s0 ]
November 15, 2006.9 _( _+ {' w0 E1 ~
    Housing values in the Royal LePage Survey are Royal LePage opinions of
5 c9 }# |  E" o1 Q& rfair market value in each location, based on local data and market knowledge
" b* m% c) F1 ?! i3 W# J  Lprovided by Royal LePage residential real estate experts. Historical data is
0 S0 k% G- \% w3 U* T" favailable for some areas back to the early 1970s.
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