BS - Sunday, October 9, 1983 - North Shore News fi business 7 ee ee ee an WSS SAR SW BERR . WES SANHOHNNH LENE Se SS ne S EAHVHNwy ASS aH nnnssy os : gasp HH . RICHMOND AND KERRISDALE LEAD THE WAY NEWS photo Eric Eggertson BUSSING IT around the North Shore Monday mor- nings, these Sussex Realty realtors are using a novel method of checking out what’s on the market. The bus takes the realtors to the various sites fora collective look. House prices show steady increase RESALE HOUSING prices in British Columbia in the third quarter of this year show a slight increase com- pared to the same period last year, according to the latest Royal Trust Survey of Cana- dian House Prices. The quarterly survey, which tracks housing prices across Canada, includes six categories of residences: detached, three-bedroom bungalow, detached two. storey, four bedroom home, standard condominium townhouse, Juxury con dominium townhouse, stan dard condomimum apart ment. and Juxury con dominium apartment “Resale prices started to increase oan January and levelled off during the sum mer months when the market Is Graditionally slower,’ said Peter Bakonys, Pactlys Regional Manager for Royal Trust The significant and consistent tnercases in the last 12 months were teported in Richmond Most and Kerrisdale ion the greater Vancouver arca In Richmond, detached two storcy homes tocrcased trom MALCOLM J. SCOTT BUSINE SS 4 INVESTMENT PROPERTIES ear SWI CHBOARD SERVIC ¢ 734-9333 $140,000 to $175,000 (25 per from $75,000 to $80,000, up cent increase) since October 1982. Luxury condominium townhouses increased by 24 per cent trom $125,000 to $160,000 during the same period but levelled off at $155,000 by October 1. Detached bungalows showed a gain of 23.8 per cent, from $105,000 to $130,000. In Kerrisdale, still the most expensive neighborhood in the province, prices increased in all categones with stan dard condominium — apart ments leading the way) They appreciated from $97,000 to $140,000, an increase of 44 3 per cent In Langley and Burnaby, tesale prices have shown little change ano }2 motnhs. with the exception of detached bungalows which thoved 12 per cent. Standard con- dominium apartments in Langley are down 2.5 per cent, although prices have shown modest gains since Ju- ly of this year. Little change has occured in resale housing prices in Victoria and Kelowna over the past 12 months, with most categories remaining stable or reporting less than 2 per cent movement. The biggest decreases can be seen in Nanaimo where detached four bedroom houses decreased from $115,000 to $85,000) during the year, off 26 per cent Detached bungalows are down by 16 per cent, while luxury condominium townhouses and apartments devicased by 1849 per cent and 22 per cent respectively. In the Okanagan Valley, litle change has been reported with Kelowna re- maining stable and Vernon and Penticton showing modest gains. The exception was in Penticton where detached four-bedroom homes were down by 5 per cent. Prices are also down in the northern part of the province with Prince George reporting detached four bedroom homes down ‘$2 per cent from $97,000) to $92,000 since October 1982 “Although provincial average resale prices are only up by about b oper cent, the volume of sales has increased by 70 per cent over the same pettod last year," says Bakonyi Were branching out! North Shore Comuinunity Credit Union proudly announces the newest branch of our tamuly tree Park Royal, opening October 1] Get the full story in your copy ry of The Communicator in next week's issue “Signs of an upturn in the economy, especially in con- struction and the resource in- dustries, should have a positive effect on the real estate market for the re- mainder of 1983 and 1984," he predicts. Resale values quoted in the survey frepresent an average market value as of October |, and are compared to figures Soot PARK ROYALG| reported 12 months ago and six months ago. The survey teflects Royal Trust's estimate of ‘‘fair market value’’ in each location, bas- ed on data and opinion sup- plied by Royal Trust Real Estate personnel across Canada. The Royal Trust Survey of Canadian House Prices 15 available from any Royal Trust Real Estate office