N. Shore real estate
market stays strong

DESPITE A recent decline in North Vancouver housing
prices, industry experts remain optimistic about the future
of real estate sales in all three North Shore municipalities.

Housing prices reached record
highs on the North Shore in March
of this year according to statistics
released by the Real Estate Board
of Greater Vancouver (REBGV).

Since then, the report says the
median sale price of a home in
North Vancouver dropped approx-
imately $20,000 between March
and June; while West Vancouver
house prices rose close to the same
amount during the same period.

The market is buoyant, says
Anne Broadfoot, public relations
director for the REBGV. Housing
sales in Greater Vancouver in the
first half of this year are 11 per
cent ahead of the same period last
year, she ciaims. High February
prices reflected heavy demand and
a shortage of supply caused by
bi-weekly increases in mortgage

By DEAN CUMMER
News Reporter

the 13 per cent range by April,
some buyers ieft the marketplace
and sales reflected the decrease in
demand, thereby causing North
Vancouver housing prices to drop.

The demand for North Shere
housing will remain strong,
predicts Broadfoot. ‘‘Higher inter-
est rates will cut some buyers out,””
she says, but recent competition
between the banks has modified
the rates, keeping the . market
strong.

Shizley Robb, president of the
North Vancouver division of the
REBGV, echoes Broadfoot’s sen-
timents. “The growth in sales will

rates. When mortgage rates rose to

EXPLORING THE OCEAN DEPTHS
FROM THE NORTH SHORE

“INTERNATLONAL:

Page 23 ‘

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