42 - friday, January 26, 1990 - North shore News me 8 REAL Estate Housing market heats up B.C.-wide THE INCREASED pace of home buying activity during the last three months of 1989 has contributed to a renewal of house price escalation throughour British Colum- bia. exccarding to the most re- cent isste ef the Roval LePage Surves of Canadian House Prices, price increases In the past year for com- munities outside Vancouver were typically in the 15 to 20 per cent range. In the Van- couver area, they were significantly higher. Jerry Jackman, senior vice-president and divisional general manager for Royal LePage Residential Real Estate Services in British Columbia comments: ‘We are back toa situation where there is a shortage of homes listed for sale and this is put- ting pressure on house prices again. First-time buyers and investors, both local and out-of-province, have become very active in the market and we're seeing migration into B.C. from other parts of Canada as well as overseas. These fac- tors add up to increased de- mand and declining supply. With more buyers chasing fewer houses, prices have only one way to go ... up.”” Price increases of 30 to 40 per cent in the past year have not been uncommon in the Vancouver area. Jackman’s comments coincided with the release of the January, 1990 issue of the Survey of Canadian House Prices. The quarterly, cross-Canada_ study tracks the esumated selling price of seven categories af housing in) over 260) communities From coast (Oo coust. Jackman notes that price incteases have moderated somewhat in Vancouver's Westside, and some of the strongest price pressure is on more affordably-priced pro- perties and areas, reflecting the jump in demand from first-time home buyers seek- ing to enter the housing market. In the West Vancouver area, a three-bedroom detached bungalow has in- creased 23.9 per cent to $290,000 since January 1989. A similar bungalow in Port Coquitlam, however, has in- creased 46.7 per cent to $165,000, and the same home in Surrey is up over 56 per cent to $155,000. In many parts of Van- couver, more affordable types of housing enjoyed larger percentage increases in price than more expensive homes. In North Vancouver, for instance, the senior ex- ecutive category of housing {over 3,000 square feet), rose 24.1 per cent to $355,000, while standard townhouses increascd almost 34 per cent BOYCHUK 986-8305 to $150,000. Similarly, in Tsawwassen, townhouses were up 33.3 per cent to $120,000, while a senior executive home was up 19.6 per cent to $275,000. In Victoria, marker condi- ttons are similar te Van- couver, but the degree ot price escalation has not been as extreme. A bungalow in Victoria has increased 15.1 per cent to $137.000, while # luxury condominium apart- Ment Is up 36.8 per cent ce $260,000. Kelowna has experienced some of the strongest price appreciation in the province in the past year, particularly for condominiums. A star- dard condominium apart- ment unit with two bedrooms jumped from $43,300 to $65,000 in 12 months, an increase of just over 50 per cent. Resale housing values quoted in the Royal LePage Survey of Canadian House Prices represent the estimated current market value of typical homes and are compared to figures reported three months ago and a year ago. The prices cited are Royal LePage opi- nions of fair market value in each location, based on data and market knowledge pro- vided by Royal LePage’s res- idential real estate specialists. Christina Kai 987-6519 res. 686-3111 pager Stella Kai 986-8727 ras. 686-5516 pager CAPILANO HEIGHTS Fantastic family home on 2 - 33 foot lega! lots. This exciusive ran- f icher has 3 bearooms & tamily iroom. The ideal location ts close NEW LISTING 1046 MONTROYAL BLVO. Three pearooms 2 tull pains. new addition tarmiy room off «iicnen, asking $249.G0u for more A information. STELLA KAI 686-5516 pgr. 2833 NORWOOD RD. Prime location in upper Lonsdale. 4 bedroom new home, stil.time to choose finishing. Feature Geluxe kitchen, vaulted ceiling in living room. skylights, lot size 40x112. Complete in Jan. ‘90. Call STELLA now to view. to everything you need. CHRISTINA C. KAI 686-3111 pgr., 987-6519 2823 NORWOOD RD. View of the bridge & city lights. Prime tocation in upper Lonsdale. 4 bedroom, 2% bath, # skylights, detuxe kitchen cabinets. Lot 40°x112". Will complete in mid Jan. ‘90. Cal! STELLA now to view. lain Street, Vancouver: IT’S MY BUSINESS TO FIND YOU THE RIGHT HOME TODAY! SEE YOU ON SUNDAY 4 bedrooms up, 2 bedroom nanny suite down, fenced yard. large deck aia hot tub, close to schools and shopping Open Sun. 2-4 PREMIER SHOWING Just listed, fabulous 4 bedroom roomy Lynn Valley home. Very wel! kept with new deck and newly fenced in child-safe backyard. Br oy A PLACE WITH SPACE Grand ~ vedroom nome with a view of snow cap- ped mountains 2 bedroorn deluxe nanny suite in full basemerit. Quiet area of Lynn Valiey 3650 Baird So oO ONE HAPPY FAMILY Quaint 2 bedroom, refresting tn its simplicity Very private yard. away trom the road. close to schools, parks, and shopping Open Sun. 2-4 1850 Westover PRICE BREAK Reduced to $319,000. Act now! Vendors have bought and are motivated to move. 4 bedroom home with tots of room and a hot tub. Great newer area of Lynn Valley. 2030 RUFUS $99,900 gt. HAFPY RENTING? | If not. check out this 1 bedroom apt. in iower Lon- sale just waiting ior offer. {t's economical, aftor-# dable and comtortable i"