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Durham 'hottest' house market in the country Purchases of re-sale homes in the Oshawa and District Real Estate Board area advanced a blis- tering 78.7% compared with the same month one year earlier ac- cording to a survey just released by the Canadian Real Estate As- sociation (CREA). This compares to a national av- erage of only 2.3% and less than 1% for the Toronto market. The Oshawa and District Board includes Port Perry, Ajax- Pickering, Whitby, Oshawa, and Bowmanville. Board president Ralph Roberto said, "Our Board enjoyed a very strong housing market in 1987 but we have now emerged in 1988 as the hottest market in the coun- try." } . According to Mr. Roberto, there are several major forces enhancing the area's housing market. For one, he said, the national econo- my is stable and Canadians have a positive opinion about home ownership as a sound financial in- vestment. Mortgage interest rates continue to be attractive and the major lending institutions are making every effort to keep a lid on them, he said. Unlike the Toronto market, he says the Oshawa and District Real Estate Board has an ample supply of homes for sale and the average home price of $138,000 seems a bargain compared to Toronto's $213,000. Many buyers from To- ronto are heading eastward since they are priced out of the market. The Board area has set a nation- al record as having the largest em- ployment growth rate in all of Canada. "We are no longer just a bed- room community for Toronto since local industry investment is enhancing our economic future," Mr. Roberto said. His statistics show Durham Re- gion has grown by 25% from 1981 to 1986, and the Durham Planning Department, he says, has forccasted a 20% growth in the next six years. An intangible but significant factor in the market is attributed to "quality of life" of the area. "Our communities enjoy secure and safe neighbourhoods," Mr. Average house cost $132,000 According to statistics from the Oshawa and District Real Estate Board, the average home price in Port Perry is $132,000--at least, that was the average price between January and March of this year. = In other communities within the board's jurisdiction, prices vary. For example, in Ajax, the average price is $131,000. In Whitby it's $159,000; in Oshawa it's $123,000; and in Bow- manville it's $134,000. Of course, those prices are nothing compared to the average price of a home in Toronto--a whopping $213,000. Port Perry suddenly looks cheap compared to the big smoke. But just for fun, compare the price of the average house in Port ($132,000) to that in say, Thunder Bay ($69,750) and suddenly, Port Perry looks like Millionaire's Alley. One of the cheapest spots in the country is Trois Rivieres, where you can buy an average house for a mere $60,340-- that's barely a down payment in Toronto! . Here's a look at a few more prices throughout the country, based on the Canadian Real Estate Association research for March, 1988: Victoria $108,365; Greater Vancouver $151,622; Calgary $97,467; Edmonton $78,935; Regina $70,348; Saskatoon $76,165; Winnipeg $81,832; Metropolitan Hamilton $133,066; Kitchener $125,673; London $108,805; Ottawa $128,027; St. Catharines $99,539; Sudbury $72,725; Thun- der Bay $69,750; Windsor $82,656; Chicoutimi $60,447; Saint John, N.B. $71,357; Halifax $92,875; St. John's Nfld. $77,068. Just think--in St. John's, $77,068 will probably buy you a three bedroom bungalow with two bathrooms, a garage, eat-in kitchen, and maybe even a pool in the backyard. Now imagine what $77,068 will buy you in Port Perry. You'd be lucky to get a basement. Roberto said, "exceptional schools, well planned recreational facilities and parks together with a 'unique mixture of cosmopolitan city life and rural settings." To keep track of the skyrocket- ing re-sale market, the Board oper- ates a computer system that al- lows real estate salespeople from anywhere in the Board area 10 re- trieve information on homes just listed or to analyze sales data for comparative market analysis. The Oshawa and District Real Estate Board, the largest single in- dustry trade association in the Durham Region, represents the in- terests of more than 1,100 mem- bers in 110 real estate offices. Purchase any television, VCR or Camcorder and get a Colema ZENITH's new 2-head cable compatible VHS HQ Recorder © VRD100 e 157 Channel Quartz Electronic Tuning with up to 101 cable channels. eo VHS HQ circuitry with White Clip, De- tail Enhancement and Luminance Noise Moonlight Madness comes to Port Perry It may sound a little "Mad", but Port Per- ry merchants participating in the first ever "Moonlight Madness Sale" will be offer 13% Off most goods for one special evening. Next Friday, May 13th participating mer- chants in both downtown and the plazas will keep their doors open until at least 11:00 P.M. to offer their customers the additional discounts. Join in the fun next week and take advan- tage of the special savings during "Moonlight Madness" in Port Perry. Watch next weeks Star for more informa- tion and advertisements from participating merchants. ENITH color TES a Cat ~ & ET ie n 45 litre picnic chest RRA | Lindsay Locks 140 William St. North LINDSAY (7085) 328-1016 Kathy Williams 'invites you to visit her . ¢ oo Aho wu & Lg 140 Wiliam Street 5 Nn - S . Wy a. 20% OFF all Services gt. 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