64 - Friday, November 24, 1989 - North Shore News REAL ESTATE ACCORDING TO SURVEY Local housing market to remain active RESIDENTIAL RESALE housing activity in Van- couver is expected to post healthy gains in 1990, ac- cording to Royal LePage. The forecast was released recently in the Royal LePage Annual Market Survey. Royal LePage attributed the positive forecast to a number of factors, including con- tinued international and in- terprovincial migration to British Columbia, new in- vestments by the forestry and mining industries, and a relatively healthy provincial economy. “*We expect the market to sustain healthy levels throughout 1990,’’ says Larry Ferster, vice-president and regional manager, Royal LePage Residential Real Estate Services, British Col- umbia. ‘Especially if inter- est rates decline a. some point next year."’ The number of resale homes soid in Vancouver is forecast to rise at least three per cent to 33,000 units in 1990, topping the 1989 estimate by 1,000 units. The value of homes in Vancouver is expected to appreciate 10 per cent over 1989 levels, rising to as much as $235,000 by year-end 1990. Single detached homes are forecast to climb 10 per cent to $270,000 in 1990. In Canada, the resale market in 1990 is expected to maintain a moderate level of growth. Nationally, housing sales are expected to climb four per cent to 325,500 units in 1990, more than 12,000 units over the 1989 estimated level, In terms of average price, the value of homes across Canada is predicted to in- crease five per cent, rising Toronto architect THE VANCOUVER League for Studies in Architecture and the Environment is presenting Toronto architect Jack Diamond on Wednes- day, Nov. 29 at 6 p.m. at the Robson Square Media Cen- tre. Mr. Diamond will speak from the anticipated 1989 figure of $144,500 to $152,900 by year-end 1990. ‘Of course, the outlook for different markets varies,"’ says Ferster. ‘*For instance, Toronto is ex- pected to lead the way in res- idential unit sales growth, while Vancouver is predicted to claim top spot in average price appreciation in 1990."’ Most cities reported in the Royal LePage survey are ex- pected to post modest in- creases in housing sales ranging from two to five per cent. Interest rates levels, immigration, foreign in- vestment, and the local economy are forecast to be the major factors influencing these cities. The increase in house prices in different centres is forecast to increase any- where from one to six per cent in 1990. to speak | about innovative housing in the inner city. This free lec- ture is sponsored by Alcan. For more information call 662-7148. Another Reason Why Wise Realtors A REALTY ASSOCIATES 200-2678 W. 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