Over that same 3 year period (based on demonstrated performance), our North Shore has seen average price increases of from 10%, to in some segments 13 or 14% per annum. Was it wrong to extol the bullishness of that market over that time? Only, I guess, if one believes that the scribe could have stimulated the demand with his/her opinion. I believe in market forces and, in this case, that the pen is not mightier than the market.

These past strong market surges are clearly appearing to be deserting us. I still maintain a belief in my “epicenter” theory, where those areas geographically further away from the centre are the first to experience this softening and generally experience a greater weakening than those more centrally located (e.g. the softening in the Fraser Valley). Yes, the cost of fuel ($ per barrel) is rising and will almost surely continue to do so. More grist for the “epicenter” mill? 

Plateauing in parts of the North Shore is evident but on average it seems that CMHC’s prediction of just under 10% rise for Greater Vancouver in 2008 (and probably the 5% for 2009) is a likely scenario. Remember this is an average arrived at by adding the Langleys, Deep Coves and Dundaraves etc of our local world and dividing by the number of sales. Will some areas outperform others? I’d be amazed if all went forth in “lock step”.

Again, visit my website to see and “hear” the new developments.  I continue my commitment to keep you…. www.OnTopOfTheMarket.ca . This work in progress strives to be the “go to” site for North Shore Real Estate analysis and jumping off point for FULL market listing information.

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