An unusually mild winter and attractive interest rates helped boost demand for housing as average house prices rose in all markets across Canada in the first quarter of 2006. The price of detached bungalows rose to $282,059 (+11.0%), followed by standard two-storey properties, which increased to $340,956 (+9.2%), and standard condominiums, which rose to $195,909 (+8.8%).

Although prices appreciated in all markets, the energy-rich western provinces remained the country's leaders in price increases with Alberta leading the charge, while the central and eastern provinces saw more moderate increases despite robust demand.

"The majority of the country's housing markets are experiencing solid but more modest growth, a trend that is expected to characterize the rest of 2006," said Phil Soper, president and chief executive officer, Royal LePage Real Estate Services. "However, while the rate of appreciation has begun to slow, there has been no corresponding decrease in the number of homes changing hands. In fact, a strong labour market and still attractive interest rates will ensure that demand for housing continues to be high, sustaining healthy market growth for some time."

For further information, please see the Royal LePage Survey of Canadian House Prices at www.royallepage.ca. If you're wondering what your home is worth in today's market, please contact me and let me put my expertise to work for you