se year.

°° “Teported . as’ 821"

», 64 = Friday, August 2, (987
: : ‘

APRIL'S:: HIGH “multiple:

unit, ‘dwelling starts. level. was

! - NOL: repeated: in Muay accor:

‘ding to the Canadian Mor-

\ igage and: Housing Corpora:
tion. : Beg

“Urban B.C.
Starts totalled 975 units.ac-.’
cording to preliminary, May
‘data; down from 1, 246 units
in April.
~  ¢ Starts were still at a’ high .-
‘evel though. | May’s-. level
was’ well above each of the
first three” months in, the

-c. Compared to May. 1986
they were; 120, ‘per ~ cent
higher. Multiples starts ‘are
‘up.:33) per ‘cent: so far. this

~ ‘year ‘over: the.:same_ period“: ”
last: year to 4,330. units from *

3,253 units. Urban Canada’s
increase is 51 per cent, which
is led by Ontario with a 119
‘per cent gain.® ©

“Condominium:
totalled 508 units down: from

‘April’ 's. revised figure ‘of 653 ;

units.” Market rental “start

came ‘in /at-42 “units / whict
was also down from Apri I

» There .was® a. substantial

revision’: “0 April’ s ‘prelimi-|

nary”: ‘data: Condominiu 1

. Starts which

‘revised down t
Market: rental
revised upwards

up .26- per’ cent
five. _ months" over th

“multiples - .

starts.

“initially:

North Shore: News 6

to the last: five; ‘months of.

1986, 17. per cent more ‘con- 7

dominiums started. .
There’ is a ‘shift Jin ‘con-
dominium production to row
.units.: Forty~ two, per. cent of
“condominium starts are row
units compared to 25. per
cent! in; the
period last; year. Row starts
totalled 1 084 units this year,
up 110 percent compared to
518 units” last’ year. Apart-
ment starts are unchanged ‘at
1,518 units versus. 1,542
“units in: 1986, .

“DETACH ED UNITS

De nand for new houses co
» $140,000 ~

rose; in May:

Absorption increased to
1,034 units from 92t-units in
April Jand.. 847. units | in
March: Compared to *May
1986, demand. is-up 31 -per
cent from 790 units.

c= In. Vancouver, absorption
totalled 8!7.in May, up from
673 units\in’ April,.Demand

_ was up‘in the Matsqui CA to
77 units from 51. units in, the

™ previous month. Absorption :
Victoria :.
{CMA ‘to 54 units from 98 ins.

* was lower. in. the

Z /Ropril:

ho The ‘demand: trendline is :
“up. Since mid-1986, ‘monthly -

demand‘ trend levels’ are
_ Pigher ‘almost every mont

»- The fatest: measure,.which
“is: for April, is“:1,008 units

: “This: is “35 per cent higher’:

| than in"April 1986.
« Newly, complete
levels are down.”

entory

Oe By
PAUL: KORSCH

40 TST KET RD. -

“compare

January-May. -

decline
: Chilliwack to $76,000.

“March;

~ For =the,

cight centres as a whole, in-
ventory, is. 910° tinits: ih May .
“to 959 units “in
Aprif-and to 1,179. units ‘at
the ‘beginning of the year.

‘Most of decline is centred in

the: Vancouver Metropolitan’
Area.

Median price of. units
completed in’ April’, was
$140,000 in Vancouver, litte
changed ‘from: recent :.mon-
ths. Kamloops. median price
was up ‘substantially
$118,000: A © fairly large
occurred in

The median price of. an
absorbed unit in the .Van-
couver » CMA “rose
in. April
$130,000 “in

to:

> 10;
from:
March. More’

units.were absorbed in the

‘$150,000 plus bracket.

total. ‘absorbed in
for..which price: data
44 per cent

“OF
April,
was available,

‘were in this bracket! in April

compared*to: 36 per:cent in

tion of - units: in inventory
changed.little over March in.
Vancouver.

CONDOMINIUM
MARKET. :
Condominium: “demand:
continued: higher i
level’ was.) 535:. ‘units;.’ its
highest. this year, compared

In the: first: five months of}
1987, demand totalled 2,341."

units; up 92 per cent over, the
sam period. last year. 7

DIANNE JACKSON

M retreshiag, change from the norm
-with its ‘distinctive exterior & choice of.
“innovative” ‘designs. Extra: large ; wi

‘dows,

‘afford a’ sunny atmosphere. whil
‘ding that...’ special’: :

‘ They are pre- selling prior to completion ,
so don't-delay, view. “while the choice‘
lasts. Phase if of a three pase project

tory|was down in‘ total and,

The price distribu-,-

velling ‘starts decline

“New. supply completed in

May amounted to.401 units,: :
By |
centre, though, there -was‘a-
im-:
In; Van- ~

and ‘in April, 410 units.
larger, difference. than
plied by the total.
couver, completions ° were
down:from 321 units to 229
units in May.”

Victoria. saw’ an “increase

from 0 to 46 units. Matsqui .
went from 23 to 94 units and:

Kelowna to 32

units.” ;
Absorption . declined

Vancouver... to 354

from". 64

in

completions.

; Kelowna’s completions =

absorption relationship. was

. irregular’ in. that absorption .
was higher and completions

‘lower.

Newly ‘completed _ “inven-

EST: VAN OCEAN VIEW CONDO.
#2054845 BELLEVUE AVE.":

units.
- largely due-to'a decline in
new ‘supply in; May. Victoria’.
and Matsqui absorption ’rose::
with the. boost from higher;

down in al but 1wo centres.

‘Inventory amounted to 1,056:

units. in. May ‘compared: to
April's, revised-1,190 units.

Vancouver's ‘inventory
was. 765 \ units. versus * 890

units in April, Inventory was:

also lower ‘in Chilliwack and

Kelowna.

Victoria experienced a
slight rise and Matsqui had a

greater increase.
: inventory decline: *
“since January is substantial.
For all cight’ centres inven- ©:

The

tory is. down 36 per cent. In
Vancouver, itis down 44 per,
cent... Inventory.

Absorption : is

about® even’ with starts.

the. cight absorption survey

centres, starts are 2,507 units ;
:1987.;

in ‘the January-May .
period. and absorption’ is
2,341 units,

: Looking at i ‘the

"Studio suite in Mauna Loa, close to beach, ‘shops,*. :
‘library and transportation. Amenities include pool,

laundry,:
t last.
: GODFREY N

ONAN 926-1162

levels :-are *
“generally higher: in. the other.
“centres. ad
' market
“CMHC’'s April 1987 surveys! °°:
“the: fo:
“vacancy rate-.was: higher. in
B.C, as ‘compared. ‘to: Oc-
tober: 1986: and rents chang- oa

“trend ed dite.

values, Starts are, at. ase units

and absorption is 504 -units:
ACcfair balance overall in
volume terms. mad
RENT “AL MARKET ;
- Completions, were ¢ up 109)
units: from-J0- units, : Fifteen
units, in Vancouver’ and 76
units in Kelowna were com-
plete i in May. ’ :
Absorption was - 43 ‘units,
up” -slighlly: from: April's
revised 31 units. 2: <:
“Inventory .was higher. due
to. Kelowna's performance.
Vancouver's: inventory was
down to only 37. units.

Rental vacancy. rate and ©.
rent..data | from:

are + available. :: Overall

: NEW. DUNDARAVE. DUPLEX::
2317, MARINE DR.; west VAN.