Friday, January 14, 1994 - North Shore News - 49

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LEPAGE

LP Park & Tilford
710-333 Brooksbank

988-2022

IRENE MANDZUK MIKE WINTEMUTE

-Nat’l housing construction

records third monthly gain

HOUSING. CONSTRUC-
TION rose 3.1% in
November for a third con-
secutive monthly gain,
reports’ Canada Mortgage
-and Housing Corporation
(CMHC).

-Total starts’ reached a
‘seasonally adjusted annual
rate. (SAAR) of 171,300
units, up. from a_ revised
“‘fevel of 166,200 units in
_ October.

Urban- starts’ of single-
detached dwellings fell 7.3%

to 63,200 units: (SAAR) in °

‘"November,; from 68,200 in
“ithe previous month. °

‘»Multipte unit

: “tion, however; é

“F4, 5% .to 79,800. units

(SAAR), from 69,700 units,

reached in October.
“: “The November ..rise . in
~multiple’ units lifted-" the
monthly 1esult to one of its
highest levels ‘this year. The
‘Strong performance reflected

- surge in’. starts -of social’

‘housing units in ‘Ontario and

further:strength’in the Brit-

ish Columbia: multiple: mar-

: ket,’”.. said- ‘Gilles Proulx,

 ghief economist at: CMHC’s
Market Analysis Centre.

”. By, contrast, the market

for single detached dwellings

remains vin the range’ of

construc- |
jumped

-detached “dwellings

60,000-65,000 units where it
has stayed most of the year,
reflecting the slow  perfor-
mance of resale housing and
the job market,’ Proulx
added.

Urban housing starts in
Ontario rose to 52,600 units
(SAAR) in November, their
best Jevel in 18 months, up
from 48,400 uniis in Oc-
tober.

All of. the increase could
be traced to. multiple-unit
housing, as a result of a
surge in government-assisted
rental starts. Starts of
single-detached dwellings
inched down. wl

British. Columbia urban «

starts gained further
strength, rising to 43,900

units (SAAR) in November,”
following a rate of 38,100
‘units in October. :

The — gaiiv was’ .due’ to
higher |
multiple” units, . especially
affordable row housing
units for the condominium
tenure. Starts. of single-
fell
marginally. oe

Urban. starts in» Quebec

‘fell further to 22,300 units

(SAAR), from 24,300 units

in October. The decline was -

concentrated in single-
detached homes. while

construction of:

multiple unit construction
edged up. -

Single-detached construc-
tion slid under the . 10,000
unit mark in November, one
of the lowest levels since
1982,

Activity felt in the Prairie
region’s urban centres to
17,000 units (SAAR) in
November, from 19,700

Units in October.

The decline was led by
Alberta where slowing -de-
mand and an = emerging
surplus of new units cooled
off new construction to
14,000 units, from. 16,500
the previous month. =~

Starts also fell in
Manitoba. to 1,600 units,
while. activity recovered in
Saskatchewan
1,400 units. « .

‘Activity was marginally
lower in the Atlantic region
to 7,200 units (SAAR) from
7,400 units the month be-
fore.

Lower. starts’ were
corded in Nova ‘ Scotia
(3,100 units), while ‘activity
held steady in Prince Ed-
ward Island (at 600. units)
and rose somewhat in New
Brunswick (to 2,100 units)
and Newfoundland (to 1,400
units),

reaching -

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