If ever there was a headline that was tough to top, it is that in the Tuesday Oct 5th edition of the Vancouver Sun. Quote Want to be happy?
Move to the North Shore This was an article on the recently released 2010 Vital Signs Report by the Vancouver Foundation and its byline stated Survey shows residents there are Metro’s most satisfied . Comments included the following Throughout the region, North Shore residents appeared to be the happiest of the lot, with 37% saying the quality of life is excellent here, compared with those in the Tri-Cities and Maple Ridge, who said it was only fair to poor. North Shore residents also made up a fair chunk of the 60% of Metro residents who described themselves as unusually happy and interested in life. [read all] (Want to be happy? Move to the North Shore)
Why I used this month’s heading hints at two things i) our Canadian reticence to make categorical and unqualified statements, and ii) letting out our secret lest we trigger (provoke?) an influx! The region’s physical beauty followed by the weather, climate and year-round recreation , factors to which North and West Van contribute significantly, are cited as the strong points. So too are Belonging, Health and Wellness and Environmental Sustainability.
Then, why says this scribe aren’t we being inundated with wannabe North Shore residents? The answers are twofold economically we are in an overall lower confidence (call it nervous) phase which tempers the ‘acquisition’ (or ‘move-up’) mode and the second answer is not an answer at all, but a statement . We are at a lull in an extended period of high demand for North Shore residency. It will return and we will see continued evidence of this desire to live north of the bridges [1st and 2nd narrows]. Some geographic sub sectors of Metro may be seeing prices sliding back from ’09 but do look at the actual Real Estate Board stats (below) for North Shore average prices year over year.
I have been tracking the graph of the number of listings in both N and W Vancouver. Over this calendar year we have witnessed the steady increase in properties for sale from around February to late June and then a relatively stable period with, latterly, some uptick in September. Early October numbers show indication of some decline will this continue as a trend? The next few weeks will tell. It remains true, however, that the supply level when faced with the demand will dictate price stability (or fluctuation). My 2¢ – the North Shore will likely not be affected by a decline in values.
I remain of the opinion that the current market presents opportunities for judicious bargain buys as many properties languish on the market with motivated owners and many buyers continue to be reticent to test this motivation.
With our Indian summer – full sunshine and 17° outside as I write this – what am I doing indoors? To all, a most Happy Thanksgiving (Dare we admit we’re happy!)
Again, visit my website to see and hear the new developments. I continue my commitment to keep you… www.OnTopOfTheMarket.ca – the go to site for North Shore Real Estate analysis and jumping off point for FULL market listing information.
To join the group getting the e-mail version of this update – send a request now toalanskinner@shaw.ca and you’ll be assured receipt; phone me at (604) 988-7368 or visit www.OnTopOfTheMarket.ca
