and: :~ ments in 1988, Construction: is. brisk, particularly ~ MLS RESIDENTIAL. “sales are. forecast to reach’ a re- cord -level of 32,900 units during 1988 inthe. Lower Mainland area, according to the /Canada Mortgage and Housing Corporation. ; House prices are forecast to‘ rise. 14 per cent. overall, . with ‘single detached homes «.inereasing by 16 per cent and condominium units by cight | per cent. -Economic, and population \growth - and fa-.. tates. will”: yorable’. interest Spur the reali yestate market i in- Ps 1988. "Employment: growth Jin | “1988. is expected to” be five _ per: cent, resulting i in“ 35,000 new jobs.’ A strong , export sector is, stimulating © manufacturing, port’ activi-" . “ties, and trade- related service ‘industries, Growth in tourism’ is also "forecast, All indicators point - ' to,an’ increase’ in’ industrial ‘commercial develop-: . activity in the/residential sector. P. Pulation growth in. the Lox er Mainland ‘area® is:, _ per cent in 1988. Net migra- tion is forecast! to. be 27,000 local - t hi forecast’ to increase’ by. 2.5. in, 1988, up, from 23,500 in: : “1987 and 17,700 in 1986. An estimated; 18,000\ new ‘households will be formed in: 1988, up, from 16, 500%, last ° “The supply of niortgage. money ‘will , be plentiful. ‘Purchasers will. have.an_ ex. (of, rates, - terms, and conditions. e /$80,000-5110, 000 increases. ; Mortgage ta third and fourth quarters of. this year, One. year. term mortgages will vary between 9.75 per cent and 10.25 fer. . cent-and five “year term rates 2 VES. per! ‘cent: Inflation: concerns’ are™. causing higher interest rates.“ MLS: residential sales>are “between I and. forecast at 32,900 units, an - increase of 6.5 per’cent over the record level of: 30,915» units in-1987. Single detach ed MLS sales are expected tor ‘increase - four per’ cent - 25,200 units. |: “Condominium MLS: sales will rise by> IS percent to® 7,700 units duc-to'a: large supply’ of new init coming - , on to the market. ee meat Several market segmenis” will perform very: “well, ‘in, 1988. The highest ; _salés." volumes will bein - Vancouver, City and in Suir- rey, |- ’ Most - categories will’ $149,000 in. Vancouver: he «Greater. ; areca! and _in’ the “Fraser | Valley, Westside Vancouver City | saics - wit again show the highest price The: MLS 5 sidentia ‘sales-to-listings ratio, is ex- pected to tise, to 64 per cent “from 60 per cent .in.1987, A _ higher ratio. ‘indie | [strengthening markels Single “detached. ML $ : cdistings 36,500. units compared ‘with = ‘are, projected at 39, 200 in 1987. This tesulls tee. are, _ forecast to rise slightly in the 69. per.’ cent in " year. areas ‘or : Condomiagim, “MLS Sales-to- listings’, ratio, iS pro- jected at-52, ,per cent, down from 55 per cent in. 1987 :/ Since - duc Aevels.: ina sales. to- listings ratio’ ‘of \ 1988 com- pared to . 62 Per cent» last es The English ha the right idea. Back when /ictoria was Queen, the’ ' ideal reward for an active, Prosperous og Outskirts of London, i ina luxurious, yet comfortable country Manor. * Yet here, ona ridge overlooking ‘the Fraser Valley that old idea has attained ce erat its finest’ expression a ‘tranquil nd