STR SR IRE UU TRO RBS TE, FUIRU STIR RODS C15-Sunday News, April 27, 1980 SS NS Wks SS CS A wee” A BUSY PLACE is the Horseshoe Bay ferry terminal. For the spring and summer seasons, the boats will be filled to capacity for the trips back and forth to Vancouver Island. (Ian Smith photo) Buyers looking to inner city The three-bedroom, detached home in the inner- city area will become real estate's hottest housing commodity during the 1980's, according to a ( anada Mortpage and Housing Corporation market specialist Wellman the federal agency's director of market analysis and forecasting, says a shift in buyer preference away from the suburbs and back to the ety proper 1s Tony becoming ine teasingly evident as people become more sen sitive to transportation and CUCTRY Costs ‘But the suburbs will continue to absorb most of the new housing bualt srmply ber ause land as not avathable in the Gitvs ipocr areas he Nav SN The growing attraction of the older central locations to more affluent home bovyers is apparent ino the proces of homes being of tered for sale The asking prices for dwellings in the inner areas are climbing much faster than those in the suburbs ~ As the demand for inner city accommodation strengthens Wellman ¢x pects more and builders will become in volved in the purchases and modernization of older homes for re sale to middle and higher income famihes But the process will bring more mixed blessings “Tt wall do much to upgrade the oldest portion of our urban housing stock Howeser i means as well that we could lose our supply oot older city core housing that for dec ades has met the bulk oof the housing demaad for those in the lower wapecome brackets In tact he claims Citas very tihely that as the back to the ctty trend develops more among the wealthy buyers bower tneome tamuilies Could be forced out to the suburbs in their search for atfordable ac commodation.” PWellman says that demographic as well as energy conservation pressures will dramatic demand. have oa impact) oon the production = and marketing of housing during the new decade “Nationally. we are unlikely to see the sort of price escalahon we ex penenced in housing during the early 70's " he feels The reason ois that Canada is “moving down the other side of the baby pushed housing producton boom that and price increases to record levels an the first half of the last dec ade Dechning requirements lor new housing pgpenerally will mean Stats: | ae rOss Canada can be expected to drop from oan average of about 235 OOO in the 1Y "O49 petiod to 166 000 un LYsY This compares with annual averaging = 233,000 throughout the 1970's 7 Wath builders competing in that starts kind of a shnnking market, we can expect house pnce increases will be held very close to the rate) of in- flation A good part of the new housing produced tn the 80's will be needed to allow the children of the baby boom and their famihes to upgrade their accommodation “When these famihes bought their first homes, they were looking for economical “starter units” transitional housing that them would — give hedge some against inflation Wellman says the fact that these families are smaller on the average than ever before means there will be hithe demand — for larpe luxurious homes in the SOs The time reasing prevalence of childless famihes with two mMCOMes May however cereale a specialized market for expensive smaller customized housing units for couples CULeCEs buriding rather than famihes George Robb Dave Jenneson Call us today. The Real Estate Showcase can put your home or your listings ‘on view across the whole North Shore When you want to advertise in the Real t state Showcase callus 980-0517 Orvistons North Shore free Press Lid sunday: > news north shore news Opening New Doors on the North Shore