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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 % Q6 g8 P0 e2 L' p, u8 }

+ n; ^) g* T7 T# J- Country's market poised to show growth throughout 2006 -
2 D0 k: _! s) Y$ s" p" M: L" j& x; b" l) U4 h; l3 i. z. }0 f4 S9 N: Q3 d3 y
    TORONTO, Sept. 28 /CNW/ - For most of Canada, the housing market
  L2 {7 I. v0 b9 E4 k' u6 i+ Z+ lexhibited moderate price increases and stable unit sales during the third- p9 a1 G) y) Q1 C% F2 W
quarter. Wide regional variances continued to be the dominant characteristic
4 G  y9 z0 Q+ v+ [5 V+ Qin the market, exemplified by frenzied levels of activity and double digit6 o6 x) g7 l5 k& A# Y
price gains observed in the energy and commodity rich Western provinces, and
0 N, f" b0 F( L) C- Imore reasonable sales volumes and moderate price appreciation in Ontario,. E* d. T5 ?9 _1 C
Quebec and Atlantic Canada, according to a report released today by Royal# h( ]% e: g" |, G% Y% B7 V
LePage Real Estate Services.
0 R  U& ]4 D1 N1 d8 R3 E; r2 R, e
$ ?# F: E, ?: Q1 ~5 A    Nationally, market trends established through the first three quarters
! N0 m  s+ A( r0 j/ ]. Pare forecast to continue for the remainder of the year. Robust economic
5 y1 V. S# a7 O% [3 tconditions, low unemployment rates, modestly growing salaries and wages, and7 V7 T% q$ W6 a$ u4 s) g7 d& ~
sound consumer confidence contributed to the overall strength of the
+ f) v8 m' M" {: n6 J% Kresidential real estate sector.7 f3 x) [+ w4 C: S3 b9 x! Z

" R# @% Y0 I9 G    Of the housing types surveyed, the highest average price appreciation2 Q6 U# ]* I: Y/ ~! J8 W5 H- A! T4 H8 \
occurred in detached bungalows, which rose to $300,365 (+16.3%)7 {# h: E. Y: x) `) {1 Q
year-over-year, followed by standard condominiums, which rose to $211,562
% D1 n9 k* D/ t# p, F(+14.2%), and standard two-storey properties, which increased to $365,380; T; g; D+ P3 h3 X& Q& d6 O0 O
(+13.2%).
6 ]3 |4 C" x; y. J; q4 V' Y9 K5 |9 i. s5 a- o
    "Canada's sturdy housing market continued to demonstrate steady growth. i9 ?' i1 `0 ^* W
during the third quarter. For all but the west, we have moved on from the; g3 ?7 u5 `0 s, r1 x
frenzied expansion that characterized the first half of this decade, and are) s) h) V) y. t* w% p" s6 f
poised to show continued growth at a more moderate pace," said Phil Soper,, J/ B4 Z' {7 _9 K
president and chief executive officer, Royal LePage Real Estate Services.5 r! a1 q4 U7 i* ~9 S
"Gone is the sellers' market that we have lived with for some years. We
3 j7 {& B0 W6 |9 f9 J1 Z/ {welcome the more reliable conditions that are characteristic of a healthy* u. F1 O. H1 Q" o; R+ w8 v+ g! z
balanced market."
. p# u5 s" l# F2 A3 t" D7 D: G3 x9 p1 d; ]& C' [( s
    Despite the double-digit rise in average national house prices,
/ Z4 s: M. U* I0 |* t2 T# M! i. Qconsiderable regional variances were exhibited again this quarter. The shift: m* Y. S" Q( I% j+ k" M$ i
to balanced market conditions, which began in late 2005, has continued3 {+ Y, C. J3 {# y0 m- j# L5 S
throughout most of the Central and Eastern regions of the country. In the core
: B5 @2 w2 l" aenergy producing western provinces, the combination of very high in-migration,9 e" k+ U/ V1 T; k
manageable affordability, and a shortage of inventory has driven record6 Z9 a3 X8 K. P; m0 o) `
breaking price appreciations.2 u. ^; y- o/ @' s+ [% m+ w" H! o9 o% d% e
) K6 u& R% @# v( Q8 G; u: q1 k
    Echoing the second quarter and supported by Alberta's rapidly expanding: e" p! x$ }9 ~1 {  y8 V
economy, Calgary and Edmonton led the charge of Canadian cities with the
# Q; s& ^- q4 J* _' ~6 slargest house price appreciation in all housing types surveyed.
# i) \" e# q' Y; s$ ?7 I3 A- X
, m. g6 s' B. e; v  l1 {    In Ottawa and Toronto, growth remained steady, supported by solid3 A0 E! Z  q7 G8 h4 ~, z
economic fundamentals, an increase in available inventory and strong consumer
6 @/ M! O5 D4 `, Uconfidence. While the pace of price appreciation in Ontario leveled off
% a  l) p  o, H$ V! Kslightly, the province's real estate market remains poised for modest growth.
6 g" }4 t; G4 _' B' j# wIn Atlantic Canada, new housing and condominium construction offered buyers$ k1 }) r! c8 P$ m6 o$ W- w" t
greater selection at more competitive prices, resulting in a slower rate of
2 t& i% ~3 C: w8 l; a" ]price appreciation when compared with 2005.
8 h! R7 Y9 }- V/ S8 r) S
7 F4 [3 ^1 h0 w. o/ A6 j    While the pace of growth in Canada has slowed, the domestic housing. n3 G1 p, ?0 w9 b: k: b# L( t
market is expected to outperform the American market. The economic and
" R! z0 ?3 q& a2 a8 b- f* }5 B; ffinancial fundamentals driving the residential real estate sector in Canada% \) V- y0 a8 c$ ?) z
are markedly different than those found in the United States." G7 a  F% i6 A5 ]

& s, Q, S0 h  f6 |    Added Soper: "Canada's housing market is likely to outperform the
6 C1 Y6 q2 |2 a6 }American market through 2007. A number of factors are working in Canada's
  S! h9 w: y5 \7 U# G" Cfavour, including healthy personal and governmental debt levels, the# `/ L) S# |4 o  W. Z1 v
relatively modest rise in interest rates in our country, and general) a- I/ V' j$ r
affordability in our major cities. In addition, Americans are now seeing the: h4 R# o$ l7 h7 z3 R
downside of a tax system that encourages maximum homeowner leverage, and
3 z9 R- }/ X3 T3 Uaggressive financial products such as zero- and negative-amortization8 G$ w& |' v( P- A
mortgages that work only in a high price growth environment."
4 O) B3 E( }* r' W( M1 f. N: `  y, V9 i5 k/ N
    <<  y9 [6 ]# P4 ~) M4 Q4 j
                             REGIONAL SUMMARIES* `! L7 M% D& ]/ M' K# T; c
    >>
1 w  S: g; K- }  F- V
( c9 ]" q6 D; V    Balanced conditions continued to characterize the housing market in' ?% _5 I% H& N8 s6 X
Halifax, as significantly higher inventory levels helped to moderate the rate
, R( q& y0 w9 l5 \/ `2 Sof price appreciation. Buyers were increasingly choosy, taking more time+ h( f3 Z' t6 V' Y( O) a% E
looking for newer, low-maintenance properties that were not in need of
6 }9 N5 W8 {# e. Y# }4 l. Yrenovations.5 r& V3 s3 o1 M) o
5 m- y- F$ L" _1 e/ I" G( ~- K
    The housing market in Moncton remained healthy and strong as a slight& D+ A/ @& S& G7 _
increase in inventory helped to moderate the rate of price appreciation
; k( O1 o, q! M! R" jcompared to the same period in 2005. Activity was brisk throughout August and1 z: B1 \5 i% K3 j4 U$ `
September and is expected to remain this way through the fourth quarter.
! N5 B: m5 B9 p& Y
: C% v0 J+ Q5 s* h    The housing market in Saint John underwent its traditional summer
1 [- ?2 Z& D2 ?4 }5 Mslowdown in the third quarter, with activity picking up towards the end of the
5 w7 k8 ~1 g# i8 Gquarter. The local economy continued to thrive, as construction on a new( b, W' q1 ?' g" m1 \: N
600,000 square-foot shopping area has begun, bringing several new box stores. L. h/ f9 r) |
to the area. Buyers have begun seeking less expensive fixtures for their homes
* l. j5 }& u* ~1 ?/ p3 a$ ]and are instead opting for more affordable housing options.
) O* a- {- ~2 z2 D% H! D& s# R3 y3 C( T+ f
    In Charlottetown, the housing market started to move towards balanced
+ S1 E3 L* A* x; `conditions, as some sellers had to begin to lower the asking prices on their
1 {$ ?, H7 F$ @' X6 Hhomes to make them more competitive. Activity from out-of-town and US buyers- a7 p, X+ T# K. L4 k+ Y
was down slightly compared to 2005, likely attributable to the strong Canadian& }: z( F, S7 a5 E4 }$ i
dollar. Inventory levels began to creep up in the third quarter, providing) ~+ v9 c. C  ?# ?' t+ c
buyers with more options when looking for a home.! L: t' N2 j. f, Y

" n5 h9 Z+ _$ V    Activity in St. John's slowed slightly in the third quarter, particularly  a$ Z  \  M" T- o7 m  P/ y
among higher-priced properties, where there was a slight over-supply of homes4 O4 j4 N2 l9 t0 O1 k  O
priced over $200,000. Listing periods have increased when compared with 2005,0 l) r3 U; G. g( W
as some of the pent-up demand that had characterized the market over the last
) i) ]) N4 a0 {% I( \few years has been satisfied, resulting in more normal, balanced conditions." X" |' S+ G& W. s
# p9 O9 U& r& h. f+ F
    Montreal's housing market recorded modest increases in average house5 w) [/ G; p7 ?
prices, due to a slight seasonal slowdown in the third quarter as inventory; V; r, m  |0 P: B
levels rose. Part of this can be attributed to the fact that many renting* u7 X) t8 B1 a: j1 G9 r* D* p3 |
first-time buyers were motivated to close on the purchase of a home by July 1,
/ z% d- S9 W* S0 f4 jwhen rental leases expire in Quebec. Once this date has passed some of the  @* b) t9 F5 J5 d* [" e
pressure is taken off the market, allowing buyers to visit more homes before
- N5 U$ i: }& F' n" O5 m4 _8 ymaking a purchase.7 W) J0 \6 O2 ^
9 j6 {8 Z/ K/ J& q! L0 j9 f
    Ottawa held its position as one of the country's most stable housing
! }+ T6 p# I# Pmarkets in the third quarter, reinforced by a vibrant local economy and strong
& n2 b) a' ^& V+ Q$ z+ Tconfidence, resulting in modest increases in average house prices. The city) B/ {  N1 Q) V5 @8 |
centre remained a bright spot in Ottawa, with homes in this area attracting
$ e) _! M! B4 W: s! sattention due to their convenient location and proximity to downtown
/ Z. f' ?. D: `! N; }3 ?amenities.0 i' l5 `; o/ j, ~& l
1 N$ O' B. b  S- k
    The housing market in Toronto sustained healthy activity levels. U8 \! r- x, Y- j
throughout the third quarter, as a strong economy helped to maintain demand
7 h0 E: n4 |! R. M/ |across the city, causing average house prices to rise moderately. Toronto has" W' K, s5 _2 W+ _# p4 ~$ e9 B
continued to experience modest growth in average house prices, and has been5 k4 n# y+ R& ~5 e( _' D  n
driven primarily by purchasers who are buying homes as their principle% ]( E. u4 p9 h- ]
residence, rather than for investment.- }& T: v' L, Q/ X% k/ T, N5 r( D
/ Q3 X: i' m; B. C+ K; e
    The vibrant Winnipeg housing market continued to show its strength as
$ {% t, ?. o% O/ h9 S: Ihouse prices rose during the third quarter. The booming local economy resulted& o2 _; I1 j8 A* S/ p* U- r: Q
in a historically low unemployment rate, helping to bolster consumer
% b1 l7 O2 Y2 A3 h+ m: Uconfidence and Winnipeg's ranking as the city with the lowest capitalization' G) y# d- X' _. w0 f! U
rate among the country's larger cities - helped to encourage buyers to enter/ q0 e* J9 l- s- ?& ]" B% ^
the market.) A5 B9 i4 T+ _( |2 e

+ j! j5 }, w7 }. E( f( ]( p2 L    In Regina, the market experienced a slight seasonal slowdown through
$ C* u# {- Q8 t0 G& S5 k8 rJuly, as there were fewer purchasers in the market due to summer vacations. In  f+ `# O+ E$ c8 L# ]% z/ k
August, activity resumed to the busy pace previously seen in the spring
7 Y. g7 O4 I6 g7 ^7 T  m" vmonths, as the influx of purchasers made it more difficult to find a home due
: @8 l) g) @+ b% lto the shortage of available inventory.
; |2 h9 @' H! |! \, E& ]& r, F# x) E& c1 j! d/ ]5 i( f( d
    Activity in Saskatoon remained brisk as the market maintained its
# \5 e/ Q2 k# t7 J# Q/ zmomentum from the busy spring sales period. The economy in Saskatoon remains
/ n& V( J: K: T2 U2 a, ]2 _6 tvibrant, as employment opportunities are abundant with many businesses
% G" r, m# L" Q- ystruggling to make hires and having to recruit outside the province.4 H1 j7 x0 R2 X4 d5 }

6 D9 r  W1 |! h1 R% Y& R9 [    Calgary's housing market recorded blazing average house price increases
& A% g- H5 d3 A- c4 }7 l% c  a) }in the third quarter, in all surveyed categories. The burgeoning economy, low7 [# _* w  A  H, r4 c( s
unemployment rates and low inventory levels remained the leading factors that. m/ \) P# y! ?, U# G& a
pressured Calgary's house prices upwards. However, regardless of the soaring
4 J  |) n4 u, ^+ f) M# x  {prices that characterized the market - even during the typically slower summer
; ?' Z" @/ p3 }/ Nseason - it is expected that activity will become slightly more balanced, as- U& y& g+ y8 v0 ~2 O) C
buyers are becoming more reluctant to participate in the frenetic activity.
* j- Q6 s/ ?- p, l. Y' x9 e$ R

4 w0 @6 \# ~" o' G4 n    Edmonton's booming local economy continued to thrive in the third quarter% v$ q0 b& S. I& t8 t
as activity in the oil sands north of the city continued to flourish. Edmonton; ^; g% h7 ^; D& E2 f
remained the hub of activity for those coming to work in the oil industry,' d) |8 H* T0 x0 ]9 z
maintaining tight inventory levels across the city, resulting in prices
0 H6 _8 D) I$ ]- J5 Dincreasing at record levels. However, as inventory levels continued to improve
! N! ]+ J# B1 a* C6 \in the third quarter the rate of price appreciation should moderate slightly" C! d# [  \- c3 G' Z( f
towards the end of 2006.
   
! {1 i- g: D; @( a+ L& m. U0 O' f% H& K$ ^0 ?. W8 ~
While Vancouver has seen a slight reprieve from the severe shortage of
4 S, O4 g. n. @9 E+ H, g* U4 xinventory that had previously characterized the market, supply is still unable. R  t5 Y: n4 R
to meet demand, driving house prices upwards. Vancouver has a very diverse
% X! I9 j% P3 ?4 jgroup of active buyers - from first-time home buyers to baby-boomers to; l7 |. N- K5 j3 U. S
foreign investors - all of whom fuel the demand for houses, placing added
$ t. D  |& x* C0 }( Apressure on tight inventory levels.: @* H: o0 _1 h: }  w

& {1 I+ ~2 r$ F9 t  I. z    Victoria's market is vibrant and supported by strong economic' F1 _4 c0 C" J; n) k
fundamentals, fuelled by a booming tech sector and a migration of young people
/ O+ }7 k4 }  z+ V; ?- jinto the city that has continued to support the area's house price increases;
) B' p& x$ Y2 I; f) kwhile increased inventory levels have afforded buyers more time when searching
& A; d; V9 p. O+ A. xfor a home, helping to normalize the market's pace." q. ^4 |4 \" h8 T
  L! [$ ~" M7 y6 D, c& n
    <<6 x! d) I% i# d& `: {  A
      Survey of Canadian Average House Prices in the Third Quarter 20061 D% }  G6 j7 ~0 s; w% ~* R. q  ]

1 @: i5 g1 O+ T3 B' s9 F$ e    -------------------------------------------------------------------------
( \9 k, m) N3 V$ C# D& y, T) g1 z                 Detached Bungalows                Standard Two Storey
* [& ]) C. h9 m- E9 M    -------------------------------------------------------------------------7 S* N0 {" Y* S3 p9 a
                     2006 Q3     2005 Q3    Bungalow     2006 Q3     2005 Q38 U  K  f6 j6 _: c) E
    Market           Average     Average    % Change     Average     Average, {+ O7 }# t, u! \
    -------------------------------------------------------------------------
0 J! v5 L9 ~* {/ o, Q    Halifax          186,333     173,333        7.5%     198,667     199,000
3 p& F6 ~; |( \" q    -------------------------------------------------------------------------" L4 c( ~; T5 P3 O, k1 q+ `, K( F& @
    Charlottetown    145,000     141,000        2.8%     175,000     170,000, D( m3 [# F; M  `! v! e7 }
    -------------------------------------------------------------------------, t% z1 z) T: ?3 J) ?
    Moncton          135,000     127,000        6.3%     129,000     123,000& E) S) f$ Z+ H- q# ]" m
    -------------------------------------------------------------------------
9 I6 C! g  r; q" {! R4 R; ~, z# P    Saint John       141,200     142,900       -1.2%           -           -
/ h3 ^* R! l; y    -------------------------------------------------------------------------
4 @* u4 j6 O7 j& ]4 b7 O! r    St. John's       143,667     142,667        0.7%     200,667     202,333! U8 a; z# r3 r+ _7 C9 J
    -------------------------------------------------------------------------
1 O/ O  y! ]4 h4 R* q9 B    Atlantic         150,240     145,380        3.3%     175,833     173,583
2 o' t# J* d4 L) Q4 h% z3 E    -------------------------------------------------------------------------$ k/ U0 g3 d" ?* F* M9 n2 U; Y
    Montreal         213,691     203,500        5.0%     321,141     316,185
& t# S# H  U, f" }* Y    -------------------------------------------------------------------------" W. n8 o8 c* C  W. a% v8 l$ Z
    Ottawa           290,083     278,417        4.2%     285,667     273,250
2 C8 Q3 K0 q. V9 h    -------------------------------------------------------------------------
' f! z6 v* F) ?6 Y* v" n" F    Toronto          373,368     355,882        4.9%     481,523     474,766
( C  S) B3 Q  \' X4 A    -------------------------------------------------------------------------9 W9 S2 G0 E/ I
    Winnipeg         181,579     159,860       13.6%     202,337     180,707
6 f# P& n2 g6 l. a    -------------------------------------------------------------------------
4 W8 v/ }, P* G' A    Saskatchewan     170,667     156,083        9.3%     182,600     166,500
8 u- r/ c* Q* p8 S! K) I    -------------------------------------------------------------------------. h2 ~3 q8 {3 y5 B
    Calgary          395,067     252,411       56.5%     405,778     264,389
" ?/ ?( Z& ]9 k. ]( f. h    -------------------------------------------------------------------------
. }, l- E( v$ ]% Y    Edmonton         286,857     194,857       47.2%     316,429     206,714
. D4 |& u# I3 I2 k    -------------------------------------------------------------------------6 Y7 A9 U9 q4 d, S! P
    Vancouver        704,250     601,000       17.2%     794,000     697,500
8 K5 w: F5 r+ h& Y( i$ o$ Y; ~1 z. F- \    -------------------------------------------------------------------------
- B8 F3 L  ?- d5 b7 [    Victoria         375,000     348,000        7.8%     403,000     391,0000 n& G9 T! T; A$ e4 |4 O/ ?: n
    -------------------------------------------------------------------------
  i% f8 ]( u1 a: X3 h- W    National         300,365     258,202       16.3%     365,380     322,860* S/ |$ P1 z7 p, U% x
    -------------------------------------------------------------------------. B. J, U0 y* ]- N; @

8 U8 _1 |0 X7 U$ P0 D8 `5 p    -------------------------------------------------------------
) O) }$ y2 [2 j: s8 O7 j                               Standard Condominium
) R3 v+ ^4 ?0 |! f    -------------------------------------------------------------% r9 ^4 }) {$ A6 }' }
                    2-Storey     2006 Q3     2005 Q3       Condo
' Q0 E8 z7 C5 d3 H# f7 v    Market          % Change     Average     Average    % Change
7 _% |3 f, v' j) m2 L4 u; T- ?    -------------------------------------------------------------
  b: |8 e' F- y8 }    Halifax            -0.2%     142,000     103,000       37.9%
. O$ v- v8 E3 i. @. _  u0 u    -------------------------------------------------------------& g. {6 z3 x7 P- \  R3 k3 d# l$ d
    Charlottetown       2.9%      98,000      98,000        0.0%
! ~% V; ~% ^5 D; g% `2 s    -------------------------------------------------------------
$ i& s9 e. `6 t    Moncton             4.9%           -           -         N/A
# P, ~3 f; `/ v0 F) n+ `    -------------------------------------------------------------5 j" c$ B, d# F
    Saint John           N/A           -           -         N/A( X: T) x7 t( _0 z, P
    -------------------------------------------------------------
# v6 ]' k8 {& g0 Q! g2 [* z) L% ^8 M    St. John's         -0.8%     146,333     145,667        0.5%
; ^5 n  l* q6 q    -------------------------------------------------------------0 i; i" b% s0 w- u
    Atlantic            1.3%     128,778     115,556       11.4%
/ C9 W' n1 S( ~8 q    -------------------------------------------------------------
$ q7 j+ f3 c0 T3 J    Montreal            1.6%     193,190     188,016        2.8%
9 m) _" s. u) Q( M* z' x; D    -------------------------------------------------------------
  ~1 L! \. K4 R" g    Ottawa              4.5%     181,083     172,250        5.1%
$ u0 k: m# ]8 [* F4 q% p% ^$ U    -------------------------------------------------------------
1 J$ n; ~: `( x% M, H7 l# I% [    Toronto             1.4%     252,088     242,918        3.8%# a" q& X' A4 m( w) [
    -------------------------------------------------------------
1 I+ [/ w; Z8 v$ I* h# _' \    Winnipeg           12.0%     105,648      96,008       10.0%7 g! o% x0 F. b/ O& v/ U
    -------------------------------------------------------------- f5 H" _& L3 n. k
    Saskatchewan        9.7%     106,250     101,000        5.2%: B- x) Q. ~* L/ P4 N9 K6 y" j2 @
    -------------------------------------------------------------# c/ K& r; ?, }; p( v) r
    Calgary            53.5%     245,844     153,867       59.8%1 c  _6 {; f- J
    -------------------------------------------------------------
0 p! Q7 n) h0 N2 m- P1 a- r    Edmonton           53.1%     200,433     131,500       52.4%6 v: _5 H- \) H& f
    -------------------------------------------------------------" i1 s+ F, q  H  X: m
    Vancouver          13.8%     366,250     323,250       13.3%- H" t# Y% y: l  d2 E) A/ c
    -------------------------------------------------------------
% V4 |' ]3 \5 a+ R    Victoria            3.1%     229,000     220,000        4.1%9 Y4 A% V# E7 }5 [+ m* c$ [
    -------------------------------------------------------------9 ?, X* ^: h; p( a! ^% a
    National           13.2%     211,562     185,296       14.2%: F) {8 K; I# v; }7 L! h
    -------------------------------------------------------------
) e  B0 u6 F* l  W1 r+ H8 Y7 B    >>
! B1 M  V$ c. v5 X1 Q6 `* s9 Q' g8 }+ d4 B
    Average house prices are based on an average of all sub-markets examined
0 J$ U* K0 K/ rin the area, except for the smaller markets of Charlottetown, Moncton, Saint
" ]+ `! r: m$ v8 YJohn and Victoria.! F8 d3 {9 G  F" m( _4 P

) [5 a  W' ~& B, b1 T: `    The Royal LePage Survey of Canadian House Prices is the largest, most
/ l2 `$ P3 P( {; p; Tcomprehensive study of its kind in Canada, with information on seven types of
' A. B0 {  L" b2 L4 Qhousing in over 250 neighbourhoods from coast to coast. This release. O0 v9 o2 n3 R
references an abbreviated version of the survey, which highlights house price
) S% t3 q: h' ]; e, ~trends for the three most common types of housing in Canada in 80 communities
. Q: W5 A' W: C8 ?# q$ e. Uacross the country. A complete database of past and present surveys is
) ]. m9 o/ X! P7 O8 C1 favailable on the Royal LePage Web site at www.royallepage.ca, and current  G* H" g, H  F* @( R0 P, y
figures will be updated following the end of the third quarter. A printable$ s* A0 X6 ]* a" R0 a2 S! ?
version of the third quarter 2006 survey will be available online on& Y2 ]+ X  }5 n1 @
November 15, 2006.
2 f- F) C. D* q' Q: B8 H    Housing values in the Royal LePage Survey are Royal LePage opinions of
9 M2 B/ A+ L" jfair market value in each location, based on local data and market knowledge3 v3 g8 p  @3 T$ n0 U
provided by Royal LePage residential real estate experts. Historical data is! @2 z7 i& ^( p9 A$ }) v" U4 x* U
available for some areas back to the early 1970s.
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