|
Hear Hot Property with Ozzie Jurock every Saturday morning between 8:30-10 am on CKNW AM980
Tip of the Week:
10/13/07
CONDO TRENDS TO WATCH IN THE LOWER MAINLAND
From Jennifer Podmore, managing partner in MPC Intelligence Inc:
- Woodframe construction is now king, due to affordability issues.
- Developers are selling off 30% of units, then holding back until close to completion as protection against higher costs. The last units are higher priced, offering an upside to those who bought in early.
- A new wrinkle in the investment market is people in their 60s buying condos for their children.
- More developers will restrict assignment sales.
- Construction prices are stabilizing.
- Sustainable 'green' designs are here to stay; consumers are demanding them.
- Condo prices will rise in 2008, but a slower rate than in 2006 or 2007.
- The prime demographics markets are SINBADS (Single Income no Boyfriend and Desperate)
- By 2012 the Lower Mainland will need 81,000 new households to keep pace with population demand.
- The Tri-Cities is the fastest growing area of the Lower Mainland.
More tips
|
hot property 
