NEWS photo Cindy Goodman

‘ TWO-YEAR-OLD Harry Brook gets a new do during a seasion at 2 Cute for You in West Van-
couver. Charlene Olson runs the Bellevue Landing shop (1403 Beilevue) which takes a new ap-
proach to children’s haircare. Videos and toys are available to take youngsters’ minds off the

task at hand, ; -

arket survey finds surge

in Vancouver condo sales
Royal LePage-analvzes first nine months of 1993

NEXT TO detached homes,’

condominiums have grown
. to be the .property-type of
- choice in Vancouver’s. active
- resale. housing. market, ac-
cording to’a study released
recently by Royal LePage.

The Reyal LePage - homebuyer .

“survey analyzed the: demographics

of: thousands of Canadian
- homebuyers during the first nine
-months . of "1993.-It found that
condominium «townhomes. and
apartments now. accouut for 45%
of. all sales, up. eight per cent over
1992.

ots ‘incredible. how. large. this .

“. segment’: ‘of the:market has
‘become,”” said:. Larry. Ferster,
‘Royal LePage vice president: &
regional manager. ‘‘The con-.
- dominium . lifestyle and.‘ all’ the

amenities it offers is obviously .

very attractive to ‘ Vanccuver

buyers.””

BC. housing
stats increase

B.C. HOUSING. starts were at
their highest level in over 3 years
during the-third quarter of 1993
according to Canada Mortgage
and. Housing: Corporation
(CHMC)}.

Total housing starts were 12,201
units in the third quarter of 1993,
the highest since the second
quarter of 1990.

“Strong housing demand has

, spurred on housing construction,”

said Helmut Pastrick, Senior Ad-
‘visor, B.C...and Yukon Region,
CHMC. “Low. mortgage rates,
government programs, high
migration levels; and economy.’

The - survey - also found that
homebuyers in the Vancouver area
are the oldest in the country, with
60% over the age of 40. That’s
more than 20% higher than Mon-
treal,. which is in second place
with 39%. .

“Traditionally, Greater Van-
couver has always been considered
a preferred retirement. communi-
ty,’”: Ferster. added. ‘“‘Many pur-

chasers come’ from the Prairie
-Provinces and’ Ontario to retire

here.”’
Another trend identified by the

‘survey is an upswing ‘in’ single fe-
‘male buyers. Currently, they ac-

count for almost.58% of all single

- buyers..
_.. “Vancouver now has the highest
number of single women buying

resale homes in | Canada,’’ said
Ferster. ‘‘We suspect that  im-

.proved income levels, combined

with the realization that buying a
home is a hedge against rent in-
creases, are definite factors in the
surge of activity.’’ In addition. the.
survey detected a decline in the
number of first-time buyers.

The first-time buyer segment of
the market has dropped four per
cent to 36%, ‘while move-up
buyers have grown to represent
70% of the market, the highest
percentage in Canada.

“Last year’s flurry of activity
by first-time buyers was largely
due to iow mortgage rates and the
announcement of government in-
centive programs created to stim-
ulate home-buying activity,’’
Ferster said. ‘‘it’s now evident
that pent-up demand has largely
been met.’’

same wayy

Sunday, November 14, 1993 — North Shore News — 73

THANK YOU!

... to the residents of the North Shore for their wholehearted
support in purchasing wreaths and Tag Days for the Poppy
Campaign.

The Royal Canadian Legion

North Van Lynn Valley West Van.
(Branen 118) (Branch 114) (Branch 60)

Unit 45, Army, Navy & Air Force Veterans

West Vancouver Council

A proven record of
community service and
business experience

An experienced councillor
committed to fiscal
accountability

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he added.
Nationally, starts edged higher
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justed at annual rates (saar), from
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B.C. had the highest saar in the
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