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Friday. November 9, 1990 - North Shore News - 83

a

REAL ESTATE

Housing starts to decline

HOUSING STARTS in
metropolitan Vancouver are
projected to decline in 1990
by 19 per cent to 17.600
units and by 23 per cent in
1991 co 13,600 units accord:
ing to the Fall Builder
Forecast. released recently
by Canada Mortgage and
Housing Corporation.

Slower economic growth
and fower migration levels
will weaken the demand for
housing.

“Consumer confidence
will continue to weaken as

uncertainty in the economy
inereases,'* said Don
Renaud, senior market
analyst with CMHC in
Vaneouser. Fewer eniploy-
ment apportunities and
weak economic conditions
in other provinces are
reducing the number of
nigrants entering B.C... he
added. While international
migration levels are expected
to increase this year and
next year, total net migra-
tion will be Jower, resulting
in less new housing demand.

The median price of 2
new single detached unit in
the metropolitan area is
forecast to decline by 10 per
cent in 1991. A shift to less
expensive urtits and a large
inventory of unsold units
will account for the decline,

Median condominium
apartment prices will rise 23
per cent in 1990, due mainly
to a greater number of fus-
ury units on the market. In
1991, a decline of 10 per
cent is forecast because of
the oversupplied conditions.

are home buyers

Every Friday, over 100,000 readers receive the
North Shore News He-nes section. 65% of
North Shore residents own their homes. In
June, the average sale price for a single
detached home was $295,740.

it works for real estate ...

apeheewrnem | Call Rick Anderson
TORK ES to advertise $80-0511

NEWS photo Vicki Sargisson
HORSEBACK RIDING is just one of the pleasures of the North Shore and sur-
rounding environs. “his group of North Shore riders enjoy breathtaking views of
fall feaves, snow-co:ered mountains and the giacier green rivers of Squamish.

The Strataman
SADRU MITHA

OF FICE: 984-9711

APILANO

ESTATE

(

... the space you need at a
price you can afford!

PRICES START AT $229,800
Come and take a look at our
display suite, open —

Monday - Thursday 3-5 p.m.
Saturday & Sunday 1-5 p.m.

3393 Capilano Rd., N. Vancouver
Sussex Group-Sadru Mitha Realty Corp. North Vancouver Office 984-9711