66 - Friday, Murch 25, 1988 - North shore News REAL ESTATE stronger housing market forecast for this year ACTIVITY IN residential construction in British Col- umbia is forecast to exceed the post-recession high re- corded in 1987 according to statistics released by Canada Mortgage and Housing Cor- poration. Housing starts are forecast at 30,700 units in 1988, up six per cent from 1987 and 48 per cent over 1986. Starts of single detached units are forecast at 18,900 for 1988, while 11,800 multiple-dwell- ing units starts are expected. Increasing activity in the construction of market rent- al apartment units has becn noted in three centres; Van- couver, Kelowna and Mats- qui, Favorable market con- ditions and lower mortgage rates will have a positive ef- fect, with 2,500 market rental starts forecast for 1988, up 63 per cent from 1987. House prices, for both newly constructed and ca- isting houses, are expected to increase in 1988. For 1987, the median new house price in British Columbia was $125,000, up 4.2 per cent over 1986, Existing house prices, as determined by data collected through the NHA-insured morgage program, were four per cent higher in 1987 than 1986. The median ex- isting house price fos British Columbia was $72,000) in 1987. The forecast for 1988 is an increase of seven per cent for newly constructed houses and six per cent for existing houses. Overall, a strengthening provincial economy and lower mortgage rates will contribute to a healthy hous- ing market in 1988. Monthly statistics will continue to improve throughout the spr- ing and summer as the hous- ing market strengthens. Detached homes buyers’ favorites From page 64 homes in the country. Over one in four tome buyers in Vancouver last year were single. ® There was an increase in the number of families with children buying homes in Vancouver. ‘ Families in- creased from 30 per cent of the market in 1986 to 33 per cent last year. Couples (without children) were still the largest house- hold group, but the propor- tion of couples dropped from 44 per cent in 1986 to From’ $259,900 to $289,300 Custom Homes by Cahi Madden Construction 929-7890 on site office 41 per cent last year, In the recently-relcased study, Royal LePage ex- tended the analysis done in previous surveys of real estate consumers in Canada by correlating different demographic categories. * By examining the age and sex of single buyers, for example, it was discovered that 42 per cent of the singles who bought homes in Canada were women. The single women tended to be older than their male counterparts — 44 per cent of the single women buying mos ree bea we homes in Canada were over 40 years old, compared to 30 per cent of the single men in the same age group. ° By comparing age and type of property purchased, detached homes were found to be the clear favorite with all age groups, accounting for almost 70 per cent of all homes purchased in 1987, Condominium apartments and townhouses represented close to 13 per cent of the resale market nationally. ° Condominiums were most popular with the over 60 age group. come to the office at The comer of Bendate & Berkley Open Saturday through Wed. 1-4 pm or call the on site office number 929-7&90 CAHL MADDEN 929-4867 (Res.) 645-7832 (Pgr.) Z ae REALTY CORP. 738-5422 off. 929-0344 res. ENJOY A SEM!-WATERFRONT LOCATION IN “DOWNTOWN” DEEP COVE PANORAMA PLACE VIEW! VIEW! Very speciai 1 and 2 pedroom apartmant homes are now available tn the charming village of Deen Cove at ertramely affordable prices. Starting at % $69,900 . Features include: * In-suite laundry & storage * Six quality appliances *« Woodburning fireplaces © All window coverings * Adult oriented building * Large sundecks A WORLD CLASS LOCATION... a ° 25 minutes to downtown * 3 minutes to hiking trails ¢ 20 minutes to skiing * 2% minutes to beach | ¢ 15 minutes to Central Lonsdale ¢ 2 minutes to yacht club j ¢ 10 minutes to shopping centre * 1% minutes to world class restaurants f° 5 minutes to golf course *1 minute to medical centre “ 4* 4 minutes to neighbourhood pub * % minute to Panorama Park. |ALL HOMES PRICED BELOW APPRAISED VALUE! OPEN SAT. & SUN. 2-4:30 P.M. or may be viewed . anytime by appointment ‘2181 PANORAMA DRIVE - DEEP COVE, NORTH VAN (Southwest comer of Gallant Ave. & Panorama Drive In “downtown” Deep Cove) . own | of 84 luxury Townhomes with... © Designed for luxury fiving © Skylights * Two bedroom — Two bathroom ¢ European Style kitchen & bathrooms =» Fireplaces (woodburning) Extras! Extras! Extras! PRIORITY PREVIEW OPEN — 278 WEST 4TH ST. _ from $128,900 TO $136,900 SATURDAY & SUNDAY 12-5:00 P.M. (Mon. to Thursday 1-6) Call Lorraine 987-9786 ¢ Panoramic city views A quality development by WESTSHORE HOMES | BAYVIEW TERRACE 278 WEST 4TH ST. NORTH VAN. or Margaret Wilson 738-8888, 735-6670 pager