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.

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he added. Nationally, starts edged higher to -159,C00 units, seasonally ad- justed at annual rates (saar), from 153,000 units saar in the previous

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B.C. had the highest saar in the country at 44,500 units. Starts ac- tivity improved slightly or held the same in all regions over the second quarter.

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