we REAL ESTATE Canadians still busy buying homes DESPITE RISING house prices, high mortgage rates and the looming Goods and Services Tax, Canadians continue to save to buy their first homes. And although many are delaying their purchase, the proportion who intend to buy in the next year remains unchanged. According to the Canada Mortgage and Housing Cor- poration, with the exception of Ontario and Nova Scotia, residential real estate activity is projected to increase in all provinces in 1990. British Columbia is expected to re- cord the strongest increase in the level of sales, with strong percentage increases in New- foundiand and Manitoba. The remaining provinces will experience increases of two to seven per cent. Housing prices in Canada’s most active real estate markets levelled off in the first quarter of 1990, but despite the cooling trend, housing affordability worsened in Quebec, On- tario, Alberta and British Columbia, according to the Royal Bank's Housing In- dex. Affordability stabilized in Saskatchewan, Manitoba and the Atlantic provinces. Housing prices in Canada's three major met- ropolitan areas took separate routes during 1989. House prices in Toronto have declined from their peak levels of last year. The average price for a detached bungalow dropped from $264,000 to $256,000. During the same _ period, average house prices in Montreal stabilized at ap- proximately $125,000. In Vancouver, house prices continued their upward trend, with the average price reaching $212,000 by the end of the year. Working with the same information, Dianne Maley, business analyst for Thom- son News Service, writes, “*Middle income people in Toronto and Vancouver would have to spend about two-thirds of their pre-tax family income to buy and run a house last year.” Canada Mortgage and Housing Corporation mar- ket analysts say most poten- tial buyers think they will have to compromise on size and focation when they do buy. As well, buyers needing mortgages tend to underestimate the cost of in- terest and have expressed a desire for more information on financing alternatives. While Canada Mortgage and Housing Corporation predicts a lower level of in- terest rate by the end of 1990, rates will remain in the double digit range hovering at the 11.5 per cent mark on average. The Conference Board of Canada’s chief economist, Jim Frank, forecasts a sharp rise in housing price fevels after the new seven per cent Goods and Services Tax is implemented on January !, 1991. The Goads and Ser- vices Tax will only apply to new housing, but an indirect drag will develop on resale homes, as the increased cost of new homes is passed on when homes are resold. NEWS photo THE SUN is out and the sailboats are sailing. Locai sailing enthusiasts are heading for sumaer winds in local waters to brush up on their seamanship. SHYAM HIRA Master FOR RESULTS * 986-0654 Home ember CALL wy 7 Years 686-4870 Pager tam in touch — so you get in touch ai ot gs TRY $11,900 0 10%% INTEREST BUY DOWN New carpets added — Asking only $119,900. Try your OFFER. #207-170 E. 3rd St. Open Sat. + A 1, Neat park on quiet street — 10% % Interest buy down. OR 2. PE-NTH-O-U-S-E DECK — 1 bdrm corner suite —- Tastefully decorated. Price A-E-D-U-C- E-D — Try $13.000 down & 1034 % Interest buy down tor 1 yt TRY $16,900 DOWN 10% % INTEREST 8UY DOWN 4. END UNIT 2. Backeng onto CREEK. 3. Very PRIVATE. 4.1155 su fl unpro. 5.2 bdrm, 6.22 balhs. 7. Three decks Priced in 9169's only B 3309 Mountain Hwy. iggy C-14-0-0-S-E FROM 2 10%4% INTEREST BUY DOWN! 1. Near London 'Srugs — Wow! Excellent decor — 720 sq.ft. approx. — #104-160 E. 19th. Open Sun. 12:30-2:15. 2. Near Chesterfield — 10 years young — includes ait apptiances, blinds, treck lights. Open Sat, 1-3. #107-156 E, 2ist. PRICED FROM $119,900 an wt, 201 wow!! 2. TA-L-LS-M-A-N TOWERS (CONCRETE) Choose from 3 ptans Near Seabus FANTASTIC VIEW — CONCRETE Prced trom 289,900 2 BEOROOM & CEN 10°4% INTEREST BUY DOWN YOO SQ appror - bisuote Jaundiy Tastetully decorated = Priced in $'su's PRIVATE % ACRE WEST VAN a {.arge 5 bedraom family home. Walk to beach, schools & shopping. Oak kitchen is just one RB of the many updates. Future subdivision poten- lial. Vendor has bought. ‘986-9321 TRY $36,000 DOWN BETTER SELIVE IT! 1034% INTEREST BUY DOWN Lot 49x116, 3 bdims & den. Part basement, Jenn- air kitchen, family room —- Compare to Tihomes ~— 2210 Windridge. Sat. 3:15-5:15. TRY $12,900 DOWN + 142 baths # Insuite — Laundry -- 2 bdrms — 1050 sqft approx. — Tastefully decorated South facing — 1047 Otd Lillooet -- Open Sun. 1-3. est coast realty MEMBER. BROKER © >": DEBBIE BIRRELL § 980-7442 ROGER KINNEE 290-5333 t hers § one THIS HOME IS FOR THE FAMILY THAT ONLY THE BEST WILL 00! Only 4 years old. Exceptional quality throughout this 4 bedroom, 3 bathroom home. Large tamily room off beautiful oak kitchen. Large master features huge ensuite with jacuz- zi tub. Backyard is complete wilh 10x15 swim spa pool for year round tun. 4321 Keith. "- sutton group - west coast realty‘. te “AN INDEPENDENT MEMBER BROKER DON’T MISS THIS! 10%4% P.A. INTEREST BUY DOWN Cul-de-sac —- 3 bdrms, den, sunken family rm, 2 ffireplaces —- Quiet street a — Near schools/bus. 1707 Medwin. Open Sun. 3:15-5:15. Priced in $260’s STUNNING VIEW *See cityiwater © Prime upper Lonsdale ©» Lot 66x134 «4 bdrms — Compare price to lots for sale on Braemar. 2158 Sancriagham. Open Sat./Sun. 12:45 to 3. ot BOULEVARD 10%% INTEREST BUY DOWN 50x147 fot — 3 bdrms main floor & sure —~ By appointment. Price reduced!! TRY $22,000 DOWN si INVESTORSIOWNERS 10%% INTEREST BUY DOWN 3bdrn rancher Quiet street Lovely backyard — Priced in $220's. Ofters. $26 Fairtietd.