Oakville Newspapers

Oakville Beaver, 28 Jul 1993, p. 32

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; Absolutely Porgeous spiit level home on lorge pleâ€"shaped lot with 16x 32 C&ool ; Professionally landscaped, double oorogo Renovated ectâ€"in kitchen, iving & dining * rooms hove hardgwood floors and overiook pool. Children hove 5 minute walk to ®@ & schools DONT MISS... CALL MARK PRICE w7&o & 06 0 0 6 6 06 6 6 6 0 6 6 6 6 6 6 6 6 6 6 6 6 6 0 6 6 6 6 08 0 o o o o There is still a west/east split in Canada, Says Royal LePage, with stronger real estate markets and increasâ€" ing prices in western Canada, and generâ€" ally weaker markets and declining or flat prices in the east. But a close reading of the company‘s Summer 1993 Survey of Canadian House Prices suggest this geoâ€" graphic imbalance is beginning to change. Columbia are retaining their positions as the most active resale housing markets in Canada. According to the Survey, yearâ€"overâ€" year increases in selling prices on B.C.‘s Lower Mainland continue to be the highâ€" est in Canada. In some cases, prices have inflated by more than 30%. Throughout the rest of the Province, prices of resale homes have moved ahead over the last three months and yearâ€"overâ€"year doubleâ€" As has been the case for many months, locations throughout British Stronger market in the west digit price increases are common. Royal LePage Senior Vice President Gino Romanese suggests there are early signs that things may be changing. "While resale housing in British Columbia generally still is a sellers‘ marâ€" ket, demand is slowing for more expenâ€" sive properties as buyers show resistance to higher prices," he says. "Signs of impending change are even stronger in Vancouver. In Vancouver Westside, all seven property categories we survey regâ€" istered slight price declines over the past three months. And in North Vancouver, prices for all housing categories have remained stable since April." In Alberta, a welcome rebound in sales in Calgary is having a positive impact on house prices. The Survey notes that the median price of a threeâ€"bedroom bungalow in the Calgary area has increased by $2,500 over the last three months, to $135,500. This is only 1.1% behind the level of $137,000 a year ago. Across the Prairies, house prices are increasing marginally, especially for more affordable properties, as consumer confidence continues to slowly recover. House prices in eastern Canada generâ€" ally are becoming more stable following months of declines in many areas. This reflects a "great awareness of fair market value on the part of buyers and sellers," says Romanese. In Toronto, the downward movement in prices continues, but more stable conâ€" ditions are beginning to appear. Survey statistics indicate a number of areas within Toronto where house prices appear to have stabilized. for example, all seven categories of housing surveyed in Pickering, Don Mills â€" West, for examâ€" ple, four of five housing categories show minor price gains. Throughout the rest of Ontario, lackâ€" lustre local economic conditions and conâ€" sumer insecurity continue to moderate prices. Flat market conditions have meant that prices largely have been stable over the last three or six months. In Montreal, lower priced properties ranging from $100,000 to $150,000 conâ€" tinue to be active and this is bringing See ‘Wait‘ page 24)

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