orth Shore most wanted esiaie GREATER Vancouver houscholds intending to buy a home in 2000 have chosen the North Shore as their most preferred area. Thars according to Canada Mortgage and Housing Corporation's (CMHC) recently released report Cousumer futentions to Buy or Renovate a Home: A Look ae Tomorraw’s Custoners w- Today. The report is based on a survey of 3,000 Greater Vancouver households that inguires into their home- buying intentions and prefer- ences over the next 12 months. “Location and affordabili- ty are the main reasons buy- ers prefer the North Shore,” said CMHC marker analyst Cameron Muir. 9 “Even though 30% more house- holds are intending to buy 2 home this year, home prices in Vancouver are still the highest in Canada. This cre- ates 2 centrifugal effect whereby buyers are forced out to more peripheral areas, such as Richmond, the North Shore, and the Tri- Cities. Muir said the North Shore also benefits trom its position relative to the downtown core. “Easier access to down- town and the ambience of its mature, established neigh- bourhoods, many — with breathtaking views, con- Ist & tribute to its appeal. Home: buyers always make the best uade-off between price and distance they can) fr appears the North Shore wins the best value prize trom home: buvers this vear. Mair added nat there has been healthy market activi on the North Shore now for at least six months. MUS apartment sales in) North Vancouver were up 38% and single -detached sales up [5% in 1999. West Vancouver fared just as well with apart- ment sales up 31%, while sin- gle-detached sales rose by 16%. Areas thar would experi- ence a net gain in potential home-buyer activity, given their preferred destination, are ranked as follows: North Shote +47% Central Valley +33% Richmond +14% Tri-Cities +11% Downtown +9% Areas that would experi- ence a net loss in potential home-buyer activity, given their preferred destination, are ranked as follows: East Vanouver -47% Westsije Vancouver -19% Surrey/Delta -3% Burnaby/New West. - 1% “If Greater Vancouver home-buyers all purchased in the neighbourhoods of their firse choice.” said Muir, “East Vancouver would experience 3 net loss in home buyer activity of nearly 50%. We know that the vast major- ity of East Vancouver house- holds in the housing market Only | Whistler Medallion Club Cali me for full MLS Service & Co-operation 681-6627 e-mail: jhiggins@direct.ca The Whistler Reai Estate Co. Ltd. will be first-time buyers. It appears as though attordabil- ity concerns are driving many of these buyers out to more suburban areas.” Muir said that while the figures provide a fascinating insight into the home buying preferences of Greater Vancoiver houscholds, the Vancouver bousing market will still experience sales gains this vear. “One reason for this,~ Muir said. “is thar juste because a household prefers to purchase a home in a par- dcular area doesn’t necessari- Ivy mean that that is where they'll end up buving. Many other factors come into play, including, not the least: of which is, price, location, amenity, and reputation.” Muir said Vancouver is also a favourite destination for migrants from Asia as well as other parts of Canada. MLS single-detached sales were up over 25% last year in both East Vancouver and the Westside, while condomini- um apartment sales also post- ed significant gains. We expect home sales in these areas to rise this year as well. “Tais difference between the home-buying intentions of Greater Vancouver house- holds and actual home sales highlights the impact of migration upon the Vancouver housing market. We see the current trend of increased migration, particu- Jarly from other parts of Canada, as goad news for the Vancouver housing market.” Friday. February 4, 2000 - Morth Shore News - MV-11 CA Eagle eye EAGLES, like this young bird, have begun to appear in the trees at Maplewood Flats in North Vancouver. AFFORDABLE 3 BEDROOM! Townhouse style 2 level gar- den unit. Mair: level features living room, dining room, large kitchen, laundry and 1/2 bath. 3 bedrooms up, full bath and large storage. Great patio for BBQ. Outdoor pool, pets allowed. Hurry don’t wait for open cail now for easy viewing! 1874 PURCELL WAY. Sees pede 24 HOUR REALTY INFO..... FREEH IMMEDIATELY . ANYWHERE. VOICE CA FAR 1-800-453-7363 4 Ente Property Ket, stuntony. 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