REAL ESTATE
Rental housing vacancy high

RENTAL HOUSING
vacancies continue to re-
main high in British Col-
umbia.

In the Lower Mainland,
including the Fraser Valley,
vacancies have risen steadily
since the same period lasi
year with another 7% jump
in the past month alone.
Apartments, houses and
townhouses are equally
high. GVRD has 115%
more piaces to rent than a
year ago, Vancouver City
has 90% and Victoria
225%. .

Even co-ops and_ social
housing report places to

Coastline
Realty Led.

rent.
This has stimulated the
use of incentives, as in-
ducements to rent, such as
moving allowances and
some free rect periods for a
minimum one year’s lease.
As a result, rent increases
have slowed down to an
average of 3% to 4% in
many buildings. Some rents
in some buildings have even
peaked and increases
delayed for the time being.
High cost of advertising
has shifted some ads to the
suburban papers which are
picking up a larger share of
the market. With the Van-

Alan Bessey
Pgr. 1-977-7121 Toll Free

a arr

OPEN SAT 2-4

5263 MARINE DR. WY.

BANK FORCLOSURE
® Gorgeous new 2,500+ sq.ft. home .
« Jacuzzi ensuite
«3 fireplaces, patio

© 24,000+ sq.tt. lot
© 3 barra, 2.5 bath

Best deal in WV. Low $400's.

DEVELOPMENT PROPERTY

: Low $200's.

NEW LISTING
¢ 3 bdrm plus fm. rm.
© Spacious kitchen plus dining area
© Private yard backing onto park

couver Sun now delivering
only in the mornings, the
same as the Vancouver Pro-
vince, it is too early to tell
what affect this will have on
classified advertising in both
papers which will become
somewhat of a duplication.

Forty % of rental
housing is advertised in
suburban papers outside of
Vancouver City. Thirty-five
% of all housing rent-
als consist of houses and
townhouses partly because
of the market glut of houses
and condominiums in the
sale market.

Sole es
DUPLEX WY.

Zoned tor GO units - excellent location. 3 houses on property. $600’s.

[Glare

© RESIDENTIAL SALES

a
eater wed

Friday, October 25, 1991 - North Shore News ~ 69

Thank you,
North Vancouver!

The Observatory
is now over 80% sold!

DON'T MISS OUT!
Only a few choice
suites left, so call
today te guarantee
yourself a home in
this unique building.

NAT

~_ DISPLAY SUITES:
20 WEST: 2ND'S

EEE meet

° NEW HOME CONSTRUCTION
¢ PROJECT DEVELOPMENT

0 TOWNHOMES - tance ¢ ceca
IN GARIBALDI ESTATES — 8% FINANCING

+ 30 BEDROOMS
* 15 BATHROOMS
- % 10 CARPORTS
_% 10 LARGE PATIOS