REAL ESTATE B.C. house prices continue to rise HOUSE PRICES continue to rise throughout British Columbia. The housing market in the Vancouver area, currently one of the most active in Canada, is seeing the largest increases, and other com- munities in the province ap- pear to be following the same example. According to the most re- cent issue of the Royal LePage Survey of Canadian House Prices many B.C. communities are reporting house prices that are anywhere from five to 10 per cent higher than they were one year ago. Increases of over 15 per cent are not un- common in Vancouver. The rising prices have shown little sign of slowing during the summer months, a@ period when the housing market activity often mod- erates. “Consumer confidence in the economy and offshore buying activity continues to fuel the resale housing mar- ket,’’ says Jerry Jackman, Senior Vice-President and Divisional General Manager for Royal LePage Residen- tial Real Estate Services in British Columbia. “Relative to demand, the supply of homes listed for sale is very limited, par- ticularly in the Vancouver area,’’ Jackman adds. “However, the recent rises in interest rates may have an DAVID MACKENZIE effect on the market.’’ According to a_ recent Royat LePage Survey, the median price of a_ three- bedroom detached bungalow, based on the 13 neighborhoods reporting this type of housing in the Van- couver area, is now $140,000. The value of this type of home ranges from $90,000 in Maple Ridge to $295,000 in the Vancouver westside. The median price of a standard condominium apartment unit, with two bedrooms, is $75,600. This type of condominium, as defined in the Royal LePage survey, ranges from $51,000 in Langley to £208,000 in West Vancouver. Some of the highest per- centage increases in property values in the Vancouver area continue to occur in the more expensive neighborhoods. In the Van- couver westside area and in West Vancouver, price in- creases for most of the types of housing tracked by Royal LePage are in excess of 20 per cent in the past year. A detached bungalow in westside, for example, is up 23 per cent since last Oc- tober to $295,000, while a luxury condominium apart- ment in West Vancouver is up 48.9 per cent to $327,600. An area like Surrey is more typical of the price in- creases that have taken place mms eee coms Fr 985-8231 in the Vancouver area recently. Property values in Surrey are up anywhere frem 9.2 per cent for a stan- dard condominium apart- ment (now priced at $59,000) to 16.9 per cent for a stan- dard townhouse, which is now estimated at $69,000. Since July, the majority of areas in Vancouver have reported price increases ranging anywhere from $1,000 or $2,000 to over $20,000. Victoria is experiencing much the same price pressures as Vancouver, with housing values up anywhere from 12.5 per cent in the past year for a standard townhome (to $90,000) to over 17.5 per cent for a standard two storey home, which is now estimated at $127,000. Until recently, other British Columbia centres did not experience the same degree of house price in- creases as Victoria and Van- couver, but there are signs this irend is reversing. In Penticton, for example, house prices were relatively stable until this spring, but in the last three to six men- ths there have been noticeable increases. . An executive detached two storey home has increased an estimated $5,000 in the past six months to $96,000, dou- ble the rate of increase dur- ing the previous six months. SUE DANIEL |: 985-8153 ig Ses Sees oes BETTER THAN NEW Super home in immaculate condition, this 2 year old has been completely finished throughout] #Superbly decorated and is better than new. Call me. . : LOCATION & VIEW 4131 DELBROOK DAVID MACKENZIE 921-7420 WEST VANCOUVER SECLUDED LIVING Super three bedroom family home situated onf lovely private Vz acre lot on one of W. Van's most sought after areas. $200's. SUE DANIEL 985-8153 i Superb Delbrook location and an unbelievable view are just two of the many features of this beautifully maintained home with a great inlaw suite. DAVID MACKENZIE 921-7420 91 - Friday, November 18, 1988 — North Shore News VIEW! VIEW! VIEW! 415 EAST 18th STREET “Z SUPER FAMILY HOME GREAT LOCATION! ~~ A spacious 5 bedroom home on a 50°x147' lot ina cul-de-sac. Close to schools, transportation and hospital in the desirabie * Boulevard area. The large living room and recreation room each have a fireplace. * Downstairs is easily conver- table to a 2 bedroom in-law * suite. Move quickly! BEATRICE OLIVER 985-8231 /986-3080 fats i : jEXECUTIVE HOME -—— PRESTIGE AREA Located on one of the finest streets in North Vancouver, this deluxe Cape Cod beauty features f + 4 BR, large master with full ensuite, heritage kitchen, cozy family room with fireplace. Beautifully # tandscaped grounds. $284,900, 2040 Hill Dr. ALLEN REGAN 988-8450 A Quality Service Reattor 116 W. ESPLANADE $85-8231 a | BEATRICE OLIVER RES: 986-3980 y Ht . #52-1825 PURCELL WAY | Cozy, well maintained 1 bdrm., 2 level. | Good floor plan and some view. All appliances & insuite laundry. Sunshine | ceiling in kitchen. Quiet adult-oriented building. Parking, pool, sauna & party room. $72,900. Reduced to $69,900. BEATRICE OLIVER 985-8231, 986-3980 SMARTER STAR 1280 ADDERLEY Be quick to view this very clean, well- maintained 3 BR home. 2 targe decks - 12'x12' off master BR. Also patio and | prof. landscaped garden. Sunshine ceiling in kitchen, 9’ marble bathroom counter. Lot 50x140. $160,000. Cali me now! . BEATRICE OLIVER 986-3980 SVAVA_ SHORT 987-4573 “OTILIA TISAN RES: 925-4396 RIME W. VANCOUVER 2 BR, 2 level, garden apartment with vaulted ceilings and some mountain view from living room & water view from 1 BR. Walking distance to shops, beach & transportation. Only $129,999. #410-1363 Clyde Ave. OTILIA TISAN 925-4396 JACK HOGCD 988-5210 RARE FIND 2 level, well kept 2 BR apartment’close to CAP COLLEGE, insuite laundry, pool & sauna, pets O.K. Eastern | balcony overlooks quiet, treed setting. Only $78,500. 1868 Purcell Way. OTILIA TISAN 925-4396