46 - Friday, January 27, 1989 - North Shore News

8B.C.-WIDE
House prices continue to rise

THE STRONG demand and
rising prices that have char-
acterized the resale housing
market in Vancouver and
Victeria for the past year
show little sign of abating.

According to the most re-
cent issue of the Royal
LePage Survey of Canadian
House Prices, house price
increases since January 1988
have averaged close to 20 per
cent in both cities. Only
Toronto has experiencea
greater price increases in the
past year.

Other B.C. communities
have experienced much more
moderate price increases,
typically in the five to ten
per cent range.

“Migration into the pro-
vince from other parts of
Canada, plus the continued
demand from investors from
Pacific Rim countries, con-
tinues to fuel the real estate
markets in both Vancouver
and Victoria,’’ says Jerry
Jackman, senior vice presi-
dent and divisional general
manager for Royal LePage
Residential Real Estate Ser-
vices in British Columbia.

“*Buying activity is
Strongest in areas like the
west side, Richmond and the
North Shore,’ Jackman
adds, ‘‘but because of the
affordability factor pur-
chasers -are moving out io
areas like Burnaby, Co-
quitlam and the Fraser

Valley and these com-
munities are also seeing in-
ereased demand and prices."

Jackman’s comments
coincided with the release of
the January 1989 issue of the
Royal LePage Survey. The
quarterly, cross-Canada
study tracks the cstimated
selling price of seven
categories of housing in over
200 communities from coast

to coast.
With this issue of the
survey, Royal LePage has

added a new category of
housing. Called the senior
executive home, this catego-
ry reflects the trend to larger
(over 3,000 square feet)
homes being built in recent
years.

The senior executive home
is reported in 11 Vancouver
areas, ranging in price from
$180,000 in Maple Ridge to
$625,000 in the west side
area* (formerly labelled Ker-
risdale).

Some of the targest price
increases have been seen in
the higher-priced areas. The
price of a luxury con-
dominium apartment in
West Vancouver, for exam-
ple, has increased 50 per cent
in the past year to $330,000.
An executive detached two-
storey home in the west side
of Vancouver is also up 50
per cent in the past 12 mon-
ths to $480,000.

*‘However, these increases

REAL ESTATE

be considered

should not
typical of the entire city,
Jackman emphasizes. In
areas like North Delta,
Langley, Maple Ridge and
North Vancouver price in-
creases in the 10 to 1S per
cent range are more
typical."’

A detached bungalow in
Langley, for example, has
risen 12.4 per cent in the
past year to $100,000, while
a similar home in North
Delta is up 16.3 per cent to
$114,000.

in North Vancouver, a
standard condominium
apartment with two
bedrooms has increased 10.7
per cent since January 1988,
to $83,000 and a similar unit
in Maple Ridge is up 15.7
per cent to $59,000.

In Victoria, the same con-
dominium apartment has
risen 18.7 per cent since last
year to $89,000. A bungalow
in Victoria is up 19 per cent

to $119,000.
In communities like
Kelowna, Penticton,

Kamloops and Vernon, real
estate values have tended to
be more stable, with typical
price increases in the five to
10 per cent range. The exec-
utive detached two-storey
home in Kelowna, for ex-
ampie, has risen 4.9 per cent
since last January to
$115,400. In Penticton, a
similar home is now worth

Changing your lifestyle?

Superb view sites suitable for
smaller, more luxurious homes

Anyone in search of a carefree lifestyle in a
serenely beautiful environment need look no
further than Westhill Way in West Vancouver. A
naturally beautiful alternative to life in the con-
fines of a condominium townhouse or apartment,
these superbly situated homesites offer the virtues
of compact convenience plus the prestige and
privacy traditionally associated with the Westhill

Way of life.

FOR FULL PARTICULARS PLEASE CONTACT

OTTMANN
Properties + id.
(604) 239-1748

BRITISH PACIFIC
Properties Lid.
(604) 922-3211

$96,000, 9.1 per cent more
than last year.

Resale housing values
quoted in the Royal LePage
Survey of Canadian House
Prices represent the

CALL

RUTH MAMBUTT
669-5879

estimated current market
value of typical homes and
are compared to figures
teported three months ago
and a year ago.

The prices cited are Royal

NORTH VANCOUVER

SUPER STARTER HOME!
UPPER LONSDALE
Beautifully & completely remodelied 2
bdrm. home in established quality
neighborhood. New kitchen, bathroom
flooring & much more. Large private fot.
Nothing to do — just move in. Affordably

priced at $159,900.

425 TEMPE CRESC.

CAPE COD

On a large, treed, and
private
bedrooms & den up-
stairs, with family room
cn the main. Three f/p
and plenty of parking.
Only $257,000.

REM

LePage opinions of fair
market value in cach loca-
tion, based on data and
market knowledge provided
by Royal LePage residential
real estate specialists.

COZY

lot. Four

CENTRAL
433-2411

TOWNHOUSE LIVING AT ITS BEST!
CENTRAL LONSDALE
Deluxe 4% year old 3 bdrm., 1% bath
1223 sq.ft. townhome in small complex.
Tastefully decorated & meticulously main-
tained. Amenities include woodburning
FIP, southfacing patio & sundeck plus
secured underground parking. Asking

$158,500.

161 WEST 19TH STREET

THE IMMACULATE INVESTMENT!
Super rental property with excellent
revenue. Fully finished basement. 5
bdrms., 2% baths. So weil maintained
you'd think it was new. Asking $184,500.

1678 PHILLIP

BRAND NEW WITH
. DYNAMITE VIEW!
In central West Van. Due tobe completed
early this summer. Has 4 bdrms. & den
quarters & everything else your
fieart could possibly desire, To view pians,

with nan

call Ralph.

LAURIE
WILSON
986-1901

NEW CONSTRUCTION

Two 4 bdrm. homes in Lynn Valley soon

RALPH
BENNETSEN
960-9640

to start construction. Private & serene on
40°x140' lots. One already sold. Still time
to customize to your spec's on remaining
home. Mid $200's.

3675 McEWEN