Zee 8=©6r REAL ESTATE

44 - Friday, January 27, 1989 - North Shore News

photo Mike Wakefield

A LONE bird sits on a piling on a chilly North Shore winter morning.

RECENT SURVEY

Canadian house prices
show strong increases

WITH ONLY a few excep-
tions, house prices across
Canada recorded healthy in-
creases in 1988.

According to the most re-
cent issue of the Roya!
LePage Survey of Canadian
House Prices, although
market activity slowed
Noticeably on the prairies
and in parts of the Atlantic
provinces, only a handful of
areas have experienced any
noticeable declines in prices.
In other areas, notably
Toronto and Vancouver,
residential real estate prices
have recorded some of the
strongest gains in years.

According to Gino
Romanese, executive vice
president of Royal LePage
Residential! Rea! Estate Ser-
vices, ‘Investment activity,
particularly from Pacific
Rim countries like Hong
Kong, played a major role in
residential real estate mar-
kets in Toronto and Van-
couver. Price increases in
these two cities typically

ranged from 15 to 30 per
cent or more, depending on
the type of housing and the
neighborhood.

“Other centres experi-
enced more moderate
gains," adds Romanese.
“Although housing — sales
have slowed in Montreal and
other Quebec communities
this year, most parts of the
province have seen price in-
creases in the five to ten per
cent range. Similar increases
have been prevalent in
Alberta. Despite concerns
about oi! prices, real estate
markets remained healthy in
Edmonton and Calgary.

“In the prairie provinces,
conditions are slower, but
housing values have held up
reasonably well under the
circumstances. The east
coast, despite enthusiasm
created by the announce-
ment of the Hibernia project
earlier in the year, has re-
mained generally stable.”
-Romanese made his com-
ments with the release of the

January, 1989 issue of the
Royal LePage Survey. The
quarterly study now tracks
the estimated selling price of
seven types of housing in
over 200 centres across
Canada.

With this issue of the
survey, Royal LePage has
added a new category of
housing. Called the senior
executive home, this catego-
ry reflects the trend to larger
{over 3,000 square feet)
homes being built in recent
years. The category is
reported in 93 of the 207
communities tracked by the
survey.

Housing values cited in
the survey of Canadian
House Prices represent the
estimated current market
value of typical resale
homes. The prices are opi-
nions of fair market value
for each area, based on data
and market knowledge pro-
vided by Royal LePage resi-
dential real estate specialists.

GOING,
GOIN

Only 6
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@ 2 bathrooms

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away from the seawalk.
Timeless architecture that
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® Intercom security system

® Garden lounge with big
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® Hobby workshop
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® Resident manager

LINCOLN
GARDENS

Life at Lincoln Gardens
starts at $159,906 to $179,900
Located at 2110 Marine Drive
West Vancouver

Show suite
Open daily 1-6 p.m.
Call 925-3833 or

Pager 667-3242 (24 hrs. ) The

Company