House prices level off

Residential real estate
sales have steadily improved
and prices have levelled off
in the Vancouver area
during the first half of 1982.

“Particularly during the
month of May there was a lot
of activity and business
improved more than any
other time sine the market's
peak in April 1981,” says
Oswald Jurock, Vice
President & Residential
General Manager - A.E.
LePage (B.C.) Ltd.

Prices are dramatically
lower than a year ago, but
sales have been centered
primarily in the lower price
ranges. For example,

Photo
correction

Information on a photo
which appeared on page C2
of Sunday, June 20, inad-
vertantly stated that every
Wednesday night the West
Van Lions have a pub night
at he Lions Gate Hospital
extended care building. The
information should have
read that the Legion hosts
the event. We apologize for
any inconvenience to cither
the Lions Club or the
Legion.

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985-9527

Richmond, Port Coquitlam
and Burnaby are showing
healthier sales than West
Vancouver.

“Until there is a downward
trend in interest rates and an
increase in public con-
fidence however, there will
be no dramatic change in the
housing market,” adds
Jurock. “In addition,
because prices are more
realistic and affordable, we
are seeing a buyers’ market
right now.”

According to a market
survey recently completed
by A.E. LePage Limited, in
West Vancouver for in-
stance, homes in the high
price range dropped from
$400,000 plus to $300,000
plus between January |! and
April 1 this year. Medium
priced homes in the same
area fell from between
$250,000 and $400,000 to
$190,000 plus to $300,000
and lower priced homes
which ranged from $100,000
to $250,000 dropped to
between $100,000 and
$190,000 by the end of the
first quarter.

DESKS

| WO REASONABLE OFFER REFUSED |

CHESTS
DRESSERS
BUFFETS

DINING TABLES
BEDROOM SUITES

In the interior of the
proyince, the market has
remained slow, but = ac-
cording to Jurock, in several
months the trend now
evident in Vancouver should
also be reflected there.

The supply of homes in
centres such as Armstrong,
Kamloops, Kelowna and
Penticton has been generally
good to excellent in all pnce
ranges, but demand during
the early part of the second
quarter has been primarily
fair to poor.

In the 13 communities
surveyed, the supply of new
homes was poor in six, fair in
two, good in four and ex-
cellent in just one, a slight
drop from earlier in the year
when most areas had a good
supply.

Although interest rates
ranged from 18 to 19% per
cent, mortgage financing
was readily available.

.» Keep Canada
¢j) Beautiful

¥Y

THE TWO FLOOR CLOSE OUT DOWNTOWN
INCLUDING THE CONTENTS OF OUR
WAKEHOUSE MUST BE CLEARED BY THE

END OF THE MONTH

FRI. SAT. JULY 2 & 3KD
FINAL ‘SLASHOUT’
ON ITEMS WE MUST CLEAR

THE GOOD AND NOT SO GOOD ITEMS,
ODDMENTS AND ACCUMULATED ‘JUNQUE’
FROM OUR WAREHOUSE

BOOKCASES
CHINA CABINETS

CHAIRS

COME AND TRY YOUR OFFER

 DEELEKS ANTIQUES

ASO W HASTINGS

O81 7241

TIA WIT Me TEN

CS - Sunday, June 27, 1982 - North Shore News

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