ie SERIES HEI AAS IN

fails in
January

THE PACE of new house
construction decreased in
January to 96,300 seusonal-
ly adjusted annual rate
(SAAR) units. reports
Canada Mortgage | and
Housing Corporation
(CMHC). '

Last month’s rate was
117,200 starts.

Most of the drop
occurred in urban multiple
markets, which fell 36% to
28.700 units (SAAR), fol-
lowing an increase in
December. Starts in rural
areas are estimated at
{8,000 units from an
unusually strong 24,000
units (SAARj in the fourth
quarter of 1995. Urban sin-
gle-detached construction
inched up 2% to 49.600
units (SAAR),

B.C. saw a 9% drop in
urban starts (SAAR) in
January compared with » ; .
December. Vancouver's Pe
Pe and ee Awarding excellence
um markets explained ; ;
much of the downturn in NORTHVANCOUVER District mayor Murray Dykeman (right) congratulates (right to left) Meyer Properties’ Thomas Meyor, Creekside
multiples, Architects’ Don Andrew and Chrisdale romes Ltd.’s Roy Hutchinson for their work on The Laurels development, @ 39-sulte resi-

Urban starts, seasonally dential project tocated at Lynn Valley Road and Fromme Road in North Vancouver. Each received a District of North Vancouver
adjusted, were lower in two rchitectural Award. ,
of the four Atlantic
provinces in January com-
pared to December.

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\ CASCADA NEW @@) HOME 3001 ferea Vista Place, Port Maody, 8.C.
Developed by the Cascadia Groupiof Canparues CEES Call 469-2264