A Report Housing Market Outlook 2007 by RE/MAX surveyed 17 markets across Canada, including Vancouver, Victoria, Kelowna, Calgary, Edmonton, Regina, Saskatoon, Winnipeg, Kitchener-Waterloo, Hamilton-Burlington, Toronto, Ottawa, Montreal, Halifax, Charlottetown, Saint John and St. John s and predicted a slowing down of the 2006 price rises.This is mainly due to a batch of new housing becoming available in Canadian centres.

As affordability is one of the main issues then Canadian buyers are becoming more creative in view by looking at the peripheral areas located close to the city centre. Also extended mortgage products with period of 30 and 35-years are now available.

The report suggests that in 2007 there will be a continued demand and increase supply with the latter equal to or exceeding the former. Across Canada, 462,000 properties could change hands, and make 2007 one of the best years on record. House prices in 2002-2006 maintained over an average of over 10% and the current average property costs $275,000. A five per cent rise to $290,000 by year-end 2007 is now expected.

Three districts; Kitchener-Waterloo, St. John s, and Charlottetown not likely see any increased value, whereas Calgary and Edmonton, may rise to 10 per cent with $385,000 and $265,900 average costs respectively in 2007.

In 2007, the highest percentage increase in unit sales is expected to occur in

Saskatoon, is likely to increase by 3,630 units, with Edmonton rising by 21,300 units. Vancouver, Kelowna, Winnipeg, Ottawa, and Saint John are all predicting sales similar to volumes in 2006.

Residential MLS Average Price

Market 2006 Estimate % Change 2007 Forecast % Change

Vancouver $503,000 18.0% $543,240 8.0%

Victoria $420,000 10.0% $440,000 5.0%

Kelowna** $422,900 19.0% $460,965 9.0%

Calgary $350,000 40.0% $385,000 10.0%

Edmonton $241,750 25.0% $265,900 10.0%

Saskatoon $158,000 9.0% $164,000 4.0%

Regina $134,000 8.0% $140,700 5.0%

Winnipeg*** $153,000 14.0% $160,000 5.0%

Toronto $353,000 5.0% $371,000 5.0%

Hamilton-Burlington $248,000 8.0% $255,400 3.0%

Ottawa $258,000 4.0% $268,300 4.0%

Kitchener-Waterloo $240,000 9.0% $240,000 N/C

Montreal $213,900 5.0% $224,600 5.0%

Halifax-Dartmouth $212,000 12.0% $226,800 7.0%

St. John s (Newfoundland & Labrador) $141,160 n/c $141,160 N/C

Saint John $126,000 5.0% $130,000 3.0%

Charlottetown (PEI) $125,000 7.0% $125,000 N/C

National $275,000 10.0% $290,000 5.0%

** Central Okanagan, *** WREB Total MLS Sales

Official UK House prices index rises to 8% pa

The Department of Communities & Local Government reports that the average house price was £198,552 in September 2006 an increase of 7.4% from August.

2006 UK London UK

All dwellings All dwellings All dwellings

IndexFeb 02 = 100 % changeover 12 months IndexFeb 02 = 100 % changeover 12 months £

Not seasonally adjusted

Apr 157.6 5.0 140.0 6.7 188,095

May 159.3 5.7 141.0 7.1 190,211

Jun 160.0 5.3 140.8 5.5 191,016

Jul 162.7 5.9 144.1 7.0 194,273

Aug 165.0 7.4 144.1 7.6 197,009

Sep 166.3 8.0 146.4 9.0 198,552

In London the prices rose 1.4% in September over the 7.6% rise for August 2006. These relate to the average price for property types such as; terraced houses and flats (both 1.3%), bungalows (0.9%), detached houses (0.4%) and semi detached houses (0.2%).

Across England, average house price inflation increased to 7.2% in September; whilst Scotland rose to 12.9%, and Wales to 10.3%. Only Northern Ireland experienced a rate fall from 26.6% to 23.6%.

The increases in the English regions included; London (9.0%), Yorkshire and the Humber (8.9%), North East and South West (both 7.9%), North West (7.8%) and the West Midlands (7.1%).

Lower rates were found in the South East (5.9%) and East (5.8%), with the lowest inflation rate in the East Midlands (5.1%). London with an average house price of £289,901 also experienced the highest average house price in September. The lowest average price was in the North East at £142,208. Mix-adjusted averages for Wales was £160,556 in Wales, £145,653 in Scotland and £168,805 in Northern Ireland.

First-time buyers faced rises of 0.3% between August and September compared with a fall of 0.5% over the same period last year. In Sept 2006, the average price paid by first time buyers for the UK being £152,633 in September.