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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 , H- l) Q" O/ F3 c. s0 u

: Y: X" K5 n7 Z: q9 o) {! V- Country's market poised to show growth throughout 2006 -  X5 Z4 {3 N3 I3 J7 _4 O1 a, _/ n
2 `- l' X6 a1 L0 ]+ s
    TORONTO, Sept. 28 /CNW/ - For most of Canada, the housing market( U. i( |( C( E
exhibited moderate price increases and stable unit sales during the third+ v/ [% h) S3 ~' ?/ K
quarter. Wide regional variances continued to be the dominant characteristic
# X0 l1 {. w; h; s- Y- p4 Xin the market, exemplified by frenzied levels of activity and double digit
+ o- h  w7 @) y7 C& p9 dprice gains observed in the energy and commodity rich Western provinces, and! T/ F0 \2 a  Y, d6 P- D' x
more reasonable sales volumes and moderate price appreciation in Ontario,
* G* D6 v9 S; x0 p- N+ m5 KQuebec and Atlantic Canada, according to a report released today by Royal$ s( c1 o8 V: Z; q" |! U2 K* h2 a
LePage Real Estate Services.
9 x$ w  ^) }! g0 N
  B5 K# |1 W* C( r  n7 G0 X- t    Nationally, market trends established through the first three quarters; L  a$ I7 n% {( R0 A# t
are forecast to continue for the remainder of the year. Robust economic
# o. h6 x0 z. A- sconditions, low unemployment rates, modestly growing salaries and wages, and/ n( h" N5 i5 ]
sound consumer confidence contributed to the overall strength of the
: z  l7 U; D+ v) [residential real estate sector.5 Z* g9 |' z6 t  d& a% G9 I
. D- V( F8 {; \5 B
    Of the housing types surveyed, the highest average price appreciation
) N7 L, m& w6 m# l  w& o9 W  t+ |+ boccurred in detached bungalows, which rose to $300,365 (+16.3%)
: z/ @6 s4 ~" F* {year-over-year, followed by standard condominiums, which rose to $211,562* J1 H7 X# D7 O3 i" e1 t: Y
(+14.2%), and standard two-storey properties, which increased to $365,380' l. F" \/ V) M8 u/ ^2 }  ?. \
(+13.2%).
; h. V. [$ [3 \8 [' {& F
+ k0 j2 J- L: B' O( u6 Q    "Canada's sturdy housing market continued to demonstrate steady growth
8 S1 \) \0 F( _% E8 Tduring the third quarter. For all but the west, we have moved on from the
- `, E3 J6 @  X" l0 s7 F5 sfrenzied expansion that characterized the first half of this decade, and are
9 f  l$ H+ v* l* U& R% ppoised to show continued growth at a more moderate pace," said Phil Soper,
- J' i2 |, d2 v: Z) N- Opresident and chief executive officer, Royal LePage Real Estate Services.
" F5 L- \1 i  p' G. X"Gone is the sellers' market that we have lived with for some years. We; T* n8 v: _0 A- [( L1 k6 ]* V
welcome the more reliable conditions that are characteristic of a healthy( w' I1 y$ N$ M
balanced market."
/ a; b# T, W& U- j; a8 e6 H: `7 L" I" [' e
    Despite the double-digit rise in average national house prices,, P' o" _# B$ d' G0 L- [) k7 v
considerable regional variances were exhibited again this quarter. The shift5 k. M* Z+ }3 C$ }4 z
to balanced market conditions, which began in late 2005, has continued
5 v/ |% Q3 H1 a3 ~" |) ~throughout most of the Central and Eastern regions of the country. In the core: d! C7 P. w% V
energy producing western provinces, the combination of very high in-migration,
# v  E( @# Z: u( @manageable affordability, and a shortage of inventory has driven record
$ _1 i7 y& L% Z* a# X( Dbreaking price appreciations.) D0 R1 U. l/ q# G" U7 e0 }
+ B0 C) G  ?) k$ ?& m
    Echoing the second quarter and supported by Alberta's rapidly expanding
$ e" f9 i* H# @7 A/ S. Weconomy, Calgary and Edmonton led the charge of Canadian cities with the
; Y1 x" @" D" B# y( tlargest house price appreciation in all housing types surveyed.9 a$ l) M7 R& R! k1 w/ _, y

" e9 y& Q. P* I' S    In Ottawa and Toronto, growth remained steady, supported by solid
9 |4 c! w0 T- h: T$ M+ q- Teconomic fundamentals, an increase in available inventory and strong consumer1 Y! m4 u3 i+ l7 t; r' w6 K
confidence. While the pace of price appreciation in Ontario leveled off; L+ F) C6 D0 K" Q5 f/ d
slightly, the province's real estate market remains poised for modest growth.4 F  i  M& h8 l. M& O( i' O
In Atlantic Canada, new housing and condominium construction offered buyers
+ A9 E9 y. j  u. o: w/ a4 o$ agreater selection at more competitive prices, resulting in a slower rate of( G, Y" X3 S, P3 h
price appreciation when compared with 2005.
2 q1 Q# v$ T! k) j* j. [: N7 o1 N. \- O: N. K. k
    While the pace of growth in Canada has slowed, the domestic housing$ \. p! t9 u5 ?( y3 {' m4 T9 j
market is expected to outperform the American market. The economic and* o3 M8 L: z5 Q/ g  \4 q
financial fundamentals driving the residential real estate sector in Canada
/ P5 D/ g, C+ care markedly different than those found in the United States., D: B. {2 u3 c3 L. |. R# s

. G/ l9 y* ^+ E    Added Soper: "Canada's housing market is likely to outperform the7 F/ V- J! H$ a
American market through 2007. A number of factors are working in Canada's/ s6 |  q( u5 g# o
favour, including healthy personal and governmental debt levels, the
9 Q: G# ?. Q' c% Xrelatively modest rise in interest rates in our country, and general
1 ~# ?7 U+ a2 a9 ^6 K' Baffordability in our major cities. In addition, Americans are now seeing the
1 _0 y) H6 R( g4 j; S0 cdownside of a tax system that encourages maximum homeowner leverage, and
, K& X: X" ]" w) P: h( [. s, ?aggressive financial products such as zero- and negative-amortization
, P! j" a, P5 Z. B; e( Fmortgages that work only in a high price growth environment."
. q2 t+ c6 ?0 s) p( R0 U5 V& R3 [  ~; n/ |5 I
    <<
% T1 t7 A5 S6 u+ g8 Y3 d                             REGIONAL SUMMARIES
! d. o( L* H" o0 M+ C$ G, _    >>
2 e9 s' B! w# X8 u) G8 E2 ?% P4 ?  ]
    Balanced conditions continued to characterize the housing market in9 n+ O$ q+ V. k
Halifax, as significantly higher inventory levels helped to moderate the rate7 O- G- J: Y& _" O1 D' l% A1 t
of price appreciation. Buyers were increasingly choosy, taking more time2 g( X9 a& D6 \7 E2 I8 S/ f
looking for newer, low-maintenance properties that were not in need of
% L  ~, S3 C9 y% H9 f6 {renovations.% _9 P( v3 _" Z$ i: H0 t! `& W

- x6 @5 a, \6 @- [1 @% @6 d% S    The housing market in Moncton remained healthy and strong as a slight  U# j7 K( d" ^+ J1 w9 B# J
increase in inventory helped to moderate the rate of price appreciation: e; J+ @5 h5 K3 y2 X
compared to the same period in 2005. Activity was brisk throughout August and" t  S& i3 v, u3 z, s8 A9 l
September and is expected to remain this way through the fourth quarter.
4 z3 X: |7 F  o% q9 E  Y9 u' N0 t! N5 \) `( F9 y
    The housing market in Saint John underwent its traditional summer* s$ k5 _; ?3 X% `' V
slowdown in the third quarter, with activity picking up towards the end of the
$ a) [1 A9 i. [. O3 o: tquarter. The local economy continued to thrive, as construction on a new
! ~! S' f1 n* Q- J6 m600,000 square-foot shopping area has begun, bringing several new box stores
% V# n4 I2 \. ~9 [- R# X1 K0 E. U' m: Vto the area. Buyers have begun seeking less expensive fixtures for their homes
/ }# V8 {6 E. m* A2 s6 \+ l" xand are instead opting for more affordable housing options.  g. V& r7 Q- z

* c( i/ w+ S# A3 j+ ?( H$ E    In Charlottetown, the housing market started to move towards balanced$ I8 |& d5 t$ e. d
conditions, as some sellers had to begin to lower the asking prices on their
* h/ E7 D: o5 P% x& A; v0 [7 khomes to make them more competitive. Activity from out-of-town and US buyers8 `6 T1 v8 h* `0 z. Z8 M* T, G. J4 ^
was down slightly compared to 2005, likely attributable to the strong Canadian2 a6 D5 s. `% ~9 F9 x/ n* o4 e
dollar. Inventory levels began to creep up in the third quarter, providing
( i0 M( q: q% j2 R# Nbuyers with more options when looking for a home.- Z5 T" D& E6 `+ {) w

/ S8 A4 E5 l% N/ x    Activity in St. John's slowed slightly in the third quarter, particularly
: R! W5 ^# }  z! C" \8 b/ T+ Uamong higher-priced properties, where there was a slight over-supply of homes
" f& L9 I3 z, c3 I1 }* z6 K8 Apriced over $200,000. Listing periods have increased when compared with 2005,
6 [% i0 a4 A  @7 nas some of the pent-up demand that had characterized the market over the last
- E2 o6 n6 \& v2 k! R* Bfew years has been satisfied, resulting in more normal, balanced conditions.' C9 x! ]" [$ u4 r$ Z

/ D; L5 m6 q: a! z+ T! x    Montreal's housing market recorded modest increases in average house" {3 u/ \2 W, D/ P& {
prices, due to a slight seasonal slowdown in the third quarter as inventory6 E  C" c/ S3 p  p
levels rose. Part of this can be attributed to the fact that many renting) r+ H! d8 s- I8 \  @+ N# U
first-time buyers were motivated to close on the purchase of a home by July 1,
5 z, Q& O9 F( w9 I- mwhen rental leases expire in Quebec. Once this date has passed some of the. |. p/ k& r# K4 @2 r" S+ a
pressure is taken off the market, allowing buyers to visit more homes before
: K2 ?3 A# X" w. {) qmaking a purchase.
; c+ x- Q, W& R' O1 |6 j9 }) N! s& U( u9 z' [8 b. X
    Ottawa held its position as one of the country's most stable housing5 O' ?5 ^4 R: m% e3 \
markets in the third quarter, reinforced by a vibrant local economy and strong# t% e+ P( {; L/ f
confidence, resulting in modest increases in average house prices. The city
- x0 E. Q- U+ E( a  k  t1 Scentre remained a bright spot in Ottawa, with homes in this area attracting
, X% C9 |' i$ @; ^' n$ zattention due to their convenient location and proximity to downtown
3 @3 E5 s7 Z8 |" l( tamenities.) n) N: _( i2 ?% B$ P

9 N3 X) p3 f  ]! j! D    The housing market in Toronto sustained healthy activity levels0 J7 [( x$ l8 l! T' g3 T
throughout the third quarter, as a strong economy helped to maintain demand
; o* J  r( Y) ?3 {( s; l5 Kacross the city, causing average house prices to rise moderately. Toronto has
( j) g  H# s# j: Lcontinued to experience modest growth in average house prices, and has been
( P( _" H, Y, O. _& x: bdriven primarily by purchasers who are buying homes as their principle6 w5 C+ o% Y3 `! g
residence, rather than for investment.
$ |$ M8 P2 p: i, z% p9 y6 o0 C% K$ W& v
    The vibrant Winnipeg housing market continued to show its strength as
2 X' s- M, g5 Z0 g1 R3 f- {; ghouse prices rose during the third quarter. The booming local economy resulted% d$ \, g) M# t! ]# q
in a historically low unemployment rate, helping to bolster consumer! ?: E5 R/ N0 L  Z) u
confidence and Winnipeg's ranking as the city with the lowest capitalization
9 ^. I" n1 W+ Z) E; S% Irate among the country's larger cities - helped to encourage buyers to enter( w. P, R0 I+ Q' h& F% C  u: G- t/ J
the market.
% C2 U1 U/ u5 }' U# B
1 _- `( n2 {, \6 g0 m    In Regina, the market experienced a slight seasonal slowdown through
( i8 q0 J6 |2 G' [July, as there were fewer purchasers in the market due to summer vacations. In
& _3 Y3 G% x* d. dAugust, activity resumed to the busy pace previously seen in the spring
0 j  m  [, m# \2 Vmonths, as the influx of purchasers made it more difficult to find a home due
6 r' V$ V0 A/ k, o# s0 h, nto the shortage of available inventory.
$ u$ L$ v/ g! r1 y
9 T& ]7 R: n) ~0 L    Activity in Saskatoon remained brisk as the market maintained its0 Z) m  c3 }. x# j7 h  B% O- F
momentum from the busy spring sales period. The economy in Saskatoon remains
1 N: `; |6 Q! U( d, A. m4 b+ Ivibrant, as employment opportunities are abundant with many businesses
$ z8 }. u! n, q4 N& d, h2 Bstruggling to make hires and having to recruit outside the province.' X" Z' C. N% C1 Z4 f. z( Z  {

1 P3 t5 }9 z; K2 A7 O4 \3 @% C  H5 }    Calgary's housing market recorded blazing average house price increases; @$ ^! K/ b" r4 ~) n: ?
in the third quarter, in all surveyed categories. The burgeoning economy, low5 B! j0 k. ~3 Q& F2 [
unemployment rates and low inventory levels remained the leading factors that
3 r4 k" o' i5 R+ ^pressured Calgary's house prices upwards. However, regardless of the soaring
4 {, {& H  G) W" M: A* K" l# P9 Gprices that characterized the market - even during the typically slower summer
; S- B4 u; v8 m. l2 ]season - it is expected that activity will become slightly more balanced, as
3 S/ v0 v! B$ N0 L+ Ibuyers are becoming more reluctant to participate in the frenetic activity.
: K* J  f. P# d
6 ~! G! G3 V& Y" `
    Edmonton's booming local economy continued to thrive in the third quarter( V& |( U- d# j. X" i, U5 ]; c
as activity in the oil sands north of the city continued to flourish. Edmonton3 T! \7 O  }1 \* R' f
remained the hub of activity for those coming to work in the oil industry,8 R0 `  [; C. V, {2 d
maintaining tight inventory levels across the city, resulting in prices
; x! }# x7 r3 u4 F% R1 @) Z" vincreasing at record levels. However, as inventory levels continued to improve) x5 U5 J8 v0 R/ G* C
in the third quarter the rate of price appreciation should moderate slightly" K0 Y6 E, B4 @9 H7 @
towards the end of 2006.
   
. r* _4 F0 P' k9 v6 F9 G1 t: ^5 _" r* J% G5 {4 }
While Vancouver has seen a slight reprieve from the severe shortage of
$ y7 k9 f& w: ~% }' r# I/ kinventory that had previously characterized the market, supply is still unable
; F& B* J  c0 K6 cto meet demand, driving house prices upwards. Vancouver has a very diverse9 w- q2 a" X% ]3 w  ^2 s- S' Z4 B
group of active buyers - from first-time home buyers to baby-boomers to
! h" P' d7 C, A# j5 S  X  Y2 [foreign investors - all of whom fuel the demand for houses, placing added
2 O3 Z. b4 _+ a* ?( l3 kpressure on tight inventory levels.  d* ]/ V) G) E8 ?7 ~

# Q. r7 w; _' u5 g7 j, S0 P    Victoria's market is vibrant and supported by strong economic
" d7 G: ?2 W: u3 L2 n' b) m# l. ?( Nfundamentals, fuelled by a booming tech sector and a migration of young people' H' E6 Z- b8 s. {/ W4 k
into the city that has continued to support the area's house price increases;* |. J9 S: t& {5 c
while increased inventory levels have afforded buyers more time when searching( e& z- a8 `6 C
for a home, helping to normalize the market's pace.# G5 y! x3 v' Y4 z( r7 L

) @( m0 f9 ^$ s) Y# \    <<
7 U5 o  N; v& K  W* H      Survey of Canadian Average House Prices in the Third Quarter 2006
$ v5 q( t6 E9 ~5 L4 D9 |7 `9 ~' e- A
    -------------------------------------------------------------------------2 C5 u6 H  V; `8 @/ L$ t5 `
                 Detached Bungalows                Standard Two Storey% M  }% h' n- ^2 X& C
    -------------------------------------------------------------------------1 K" {) ^) n6 F4 _+ C8 P  n* B) e
                     2006 Q3     2005 Q3    Bungalow     2006 Q3     2005 Q3/ P' s# o/ W7 x+ m0 y& S
    Market           Average     Average    % Change     Average     Average: h" E/ B8 R9 x/ b& {( h7 m# i
    -------------------------------------------------------------------------3 o4 e. P0 I% S4 B
    Halifax          186,333     173,333        7.5%     198,667     199,000
6 o$ N6 {6 M9 ?1 z    -------------------------------------------------------------------------
/ b% b9 ^+ I0 {. y, Z* P    Charlottetown    145,000     141,000        2.8%     175,000     170,000
3 {( I& Y9 a* z  @# r$ t    -------------------------------------------------------------------------
- o& n4 D2 r& j3 g8 U6 Q) P6 x    Moncton          135,000     127,000        6.3%     129,000     123,000
; I# m4 H$ e3 |0 q- b; }* l' a    -------------------------------------------------------------------------! ?7 T) c" N9 }7 q
    Saint John       141,200     142,900       -1.2%           -           -
$ l2 o" f3 z: Z  U7 |% @" `4 k    -------------------------------------------------------------------------% f) ^7 h9 m3 ]+ A8 W: J
    St. John's       143,667     142,667        0.7%     200,667     202,333
2 t) X3 v' y9 G7 N& C' o    -------------------------------------------------------------------------8 |% X8 N& t, e; r
    Atlantic         150,240     145,380        3.3%     175,833     173,583
$ r  Y; o3 n& `    -------------------------------------------------------------------------" Z4 o. K4 G7 C+ o" f- C
    Montreal         213,691     203,500        5.0%     321,141     316,185
) c6 ^$ L* d. ~1 C    -------------------------------------------------------------------------- L0 s' }* L( ?# J" X3 r
    Ottawa           290,083     278,417        4.2%     285,667     273,250! g- ?% x2 O- [: m6 h* v3 q/ E
    -------------------------------------------------------------------------* f7 s) B6 @3 r# ^% b5 x; B+ W
    Toronto          373,368     355,882        4.9%     481,523     474,7664 N7 c) c2 d+ d
    -------------------------------------------------------------------------
% w' w! `. i! p5 R$ G/ c    Winnipeg         181,579     159,860       13.6%     202,337     180,707
, g  ?6 j& ?+ h    -------------------------------------------------------------------------0 P5 i! h, ]+ d* Y
    Saskatchewan     170,667     156,083        9.3%     182,600     166,500: d; r6 n# `5 _7 H, K% r) y: B
    -------------------------------------------------------------------------* E2 ]4 g, f  B5 v# _+ R9 T
    Calgary          395,067     252,411       56.5%     405,778     264,389
' a6 w4 u, _2 r9 ?  [    -------------------------------------------------------------------------% S, W, |) X2 B# S( Y
    Edmonton         286,857     194,857       47.2%     316,429     206,714
/ m! j$ {% U+ G& ]1 P" d    -------------------------------------------------------------------------
3 M8 f3 {6 b. b6 h$ U    Vancouver        704,250     601,000       17.2%     794,000     697,500/ a$ j. ?2 L- `& N" y4 h1 _, H, h
    -------------------------------------------------------------------------; b# p" e3 D6 H! _" m0 U7 \
    Victoria         375,000     348,000        7.8%     403,000     391,0004 V9 M4 j6 z- h
    -------------------------------------------------------------------------
7 k6 B" a4 A  o) }, T    National         300,365     258,202       16.3%     365,380     322,860$ N% K2 e5 b$ \9 L3 U
    -------------------------------------------------------------------------
6 }6 w- y3 O! z. d6 M% S5 E% y% v4 T4 i; C  ?  g( ?8 {( b
    -------------------------------------------------------------( ~+ k" r# m, c9 w
                               Standard Condominium/ |/ W# B4 O; C: b' _7 h
    -------------------------------------------------------------2 T! |6 h# P+ z0 U8 R$ p2 Z2 K
                    2-Storey     2006 Q3     2005 Q3       Condo
" [! q* ]7 i5 K1 A! c    Market          % Change     Average     Average    % Change7 B6 J- `# l! _4 x
    -------------------------------------------------------------' p# ]2 s* v1 }% y
    Halifax            -0.2%     142,000     103,000       37.9%( K/ m$ t  H: j9 Y
    -------------------------------------------------------------- d  j7 q) x4 m6 I, a# g& i
    Charlottetown       2.9%      98,000      98,000        0.0%5 d9 {. w& }1 o- w8 a# d1 b
    -------------------------------------------------------------
% ^/ C( j$ q/ B& a( L+ ?8 I    Moncton             4.9%           -           -         N/A. o% z7 G+ I7 g: X; t) D. v& L% |
    -------------------------------------------------------------9 F/ A# m6 C+ C6 \) _  `4 m
    Saint John           N/A           -           -         N/A
6 v8 {( b7 m8 u! u/ C* N# O    -------------------------------------------------------------0 z+ S! L" s# Q1 s4 N, _" t
    St. John's         -0.8%     146,333     145,667        0.5%9 v8 \. o. ^' I7 R% z" H, i% L9 F
    -------------------------------------------------------------
( j6 K! {# B) T$ U) l$ j8 o8 F    Atlantic            1.3%     128,778     115,556       11.4%
) t, |: ~; o# ], y, g- K( \, ?    -------------------------------------------------------------
) T- ?  I8 Z: O! K# E    Montreal            1.6%     193,190     188,016        2.8%3 q) ]# n( l* Q# h7 w1 `4 {$ \6 N
    -------------------------------------------------------------
8 g5 S% ~6 Z3 R  q. n+ Z1 S    Ottawa              4.5%     181,083     172,250        5.1%: r4 K, K! v* ?. L& R. P3 y
    -------------------------------------------------------------
+ V, Y3 |; ?9 V6 b* {    Toronto             1.4%     252,088     242,918        3.8%: V  p4 _. d  A7 {+ J7 y) ~) _
    -------------------------------------------------------------8 l) Z6 \5 [+ Y& D# V2 Z# B
    Winnipeg           12.0%     105,648      96,008       10.0%2 \7 o& D! L# G' K# {
    -------------------------------------------------------------8 s/ s5 ~# Q2 S
    Saskatchewan        9.7%     106,250     101,000        5.2%
/ t& @) `% _& j    -------------------------------------------------------------/ A& d% j, ]- L! ]# l4 o8 N' Q
    Calgary            53.5%     245,844     153,867       59.8%+ ~! a) t1 P4 u% u
    -------------------------------------------------------------1 h" A$ c4 {! s  @7 @! d
    Edmonton           53.1%     200,433     131,500       52.4%
% J: a: e6 }9 V$ k; Y2 K2 R4 r: v9 r    -------------------------------------------------------------; G! X% \( H$ |6 a$ Z1 Y
    Vancouver          13.8%     366,250     323,250       13.3%. D) b. m8 Z* k( m+ [- o
    -------------------------------------------------------------9 Z0 R. a6 E/ v
    Victoria            3.1%     229,000     220,000        4.1%( v# [, s6 @. E/ C
    -------------------------------------------------------------! o# `$ \; k6 T; L  M. p
    National           13.2%     211,562     185,296       14.2%
  Y! |. M  ]0 t1 N    -------------------------------------------------------------
) B* a! U: e% [$ \" Q: d9 j' C* ~    >>1 S1 |% H5 b! G) W  @8 d) O
; S1 L4 ]- ~+ m- v; c) o: q
    Average house prices are based on an average of all sub-markets examined
$ B5 }5 B/ G6 s( B; }6 t0 Iin the area, except for the smaller markets of Charlottetown, Moncton, Saint
5 Q' z5 ?- J$ Y  D7 j# LJohn and Victoria.6 a8 X% J, Z1 m& `- \, p
; _1 Z( N7 J1 q7 a; q
    The Royal LePage Survey of Canadian House Prices is the largest, most
+ N1 [! D" u0 G9 ?5 ]# Acomprehensive study of its kind in Canada, with information on seven types of
$ ~1 y9 r! N) v. lhousing in over 250 neighbourhoods from coast to coast. This release3 C$ t" |- t  A' h0 I
references an abbreviated version of the survey, which highlights house price
) o/ C; b6 b3 Gtrends for the three most common types of housing in Canada in 80 communities
$ g! {: ~8 z. c2 sacross the country. A complete database of past and present surveys is" z2 _1 k0 M: e
available on the Royal LePage Web site at www.royallepage.ca, and current
, u. j3 `8 z9 P3 c2 v9 wfigures will be updated following the end of the third quarter. A printable
% L. U6 G0 t. d9 ^( y# d. Eversion of the third quarter 2006 survey will be available online on
2 i% S( ]0 R% i# g" UNovember 15, 2006., x' V3 {8 m- U' E% O2 K3 r
    Housing values in the Royal LePage Survey are Royal LePage opinions of
* f, b- u) C  t  e. Pfair market value in each location, based on local data and market knowledge
8 I7 O1 N7 `' ~2 h! [. C3 ^provided by Royal LePage residential real estate experts. Historical data is
- U. Z+ _) c+ r  o8 j7 m" tavailable for some areas back to the early 1970s.
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