“Don's expect: house prices on the North: Shore

to ‘plammet® during’ the:
because :they:

next. few:months just.

have reached an. Incredibly high

peak, becausait: is not going | to, happen. *

ye an: Dace eprint “Certainly, ‘I. -don't think, |

‘for: housing the ‘real:

"Macaulay
‘Nicolls: Maitland: says it is”
impossible | to predict: what.
house.prices ‘are’ going todo .
‘mext, except to say that they ~

‘are, not going to fall back to" ‘market a year’ ago and said _dovelopment, - all:

their old levels.

“I think we've. scen prices
level ‘in the ‘last 30 days,"
Dixon;said recently in. an
interview with the News on
the ‘current | housing
situation. 7

“TV don't” think there's
enough information — or
enough.time to say con-
- ¢lusively if we're going to see

_ it flatten out for any length
» Of: time,”

they are going to go down.”

But Dixon’ ‘cautioned that
any predictions. dealing ‘with
the real. estate market must
be cautious ones, «|

“TE you'd: looked. at. the

‘there'd be. a 50° per cent
“increase in (house), prices in.
Vancouver, you'd’ have been
laughed outoftown,
“We thought ° At ‘would |
increase but at ‘a much more
‘realistic level; at the historic
‘fevel -that ‘ might” have’
fluctuated between 10 and
“percent. |

“There had been. other
peaks in the last decade but |
nothing to : match what

months, °
‘Dixon blamed the ‘out-of-
control... prices on “the

‘ coming stogether. of several.

“demand” factors: anh
basic supply factor.”

* Because of “a booming Dixon sees as a probability i in

provincial economy and the:
lack’ of new ‘rental
the
“pressure was focused on the
‘single-family residential
market, © .

The current : stabilization
in the market is due'to the
high prices that, have been
reached, Dixon! said, *”
“Price is a great tool for
rationing a commodity. The .
price moves up and people -
{cel it's just not worth that
much anymore,”

As soon. as the price starts

‘moving up. the: developers

start _ moving in.’ Dixgn:

this is especially ‘noticeable.’

in. the’ O00 neat ‘where
De 000-6, 000 )

Bt the Sern of pices,

even coupled: « with.

booming econon

this province, will): not:

.. necessarily: mean good ‘News *,
for house buyers, . we

LEVELLING

“It’s the first levelling we,
‘have seen in 18 months,” he
said, “It has happened for

‘about’ a month = and
historically there is a spring
buying: period that starts to
happen - right ‘now, which
could create some demand
_ again,” cs

‘ CONTINUED ON PAGEC2

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