ee i

oa ee

: June.
- monthly decline in 1985.

42. - Friday, October 4, 1985 - North Shore News

Housing starts up

HOUSING starts were up
for urban B.C. for the se-
cond month on a seasonally
adjusted basis.

The preliminary annual
rate was 16,000 units in July,
up from rates of 13,000 in
June and 11,000 in May.

Actual starts, however,
were lower in July. There
were 1,337 units started ac-
cording to preliminary data
which was a decline from
June’s revised total of 1,486
units. Compared to. July
1984, starts were up 12 per
cent.

During the first seven
months, starts were up 5 per
cent with a total of 9,174
units compared to 8,729
units in the same period last
year,

Starts in urban and rural
areas totalled 5,047 units in
the second quarter according
0 final data. This was up
from the first quarter: level
of 3,586 units, but down
slightly from the second
quarter of 1984 (5,115).

The quarterly rate was

*17,000 units down from the

first quarter’s 20,000 unit
rate and it was unchanged
‘from. the second quarter
1984,

FEWER SINGLES

Single detached starts in
‘urban B.C. were lower by 5
per cent in July over the
previous month. There were
‘943 houses started which was
down’ from 994 units in
This' was the first

Geographically, most . of

July’s decline occurred in the”

Victoria and Nanaimo areas.
Starts were.up over June in

the Vancouver and Kelowna:

areas.

‘Starts were still ahead of /

open.

Cail
Francoise Band

“19, 00

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last year. There was an 11
per cent increase over July,
1984. Also, in the January to
July period, starts were up
15 per cent over the same
period last year.

A greater proportion of
Starts are taking place in the
metropolitan areas. About
75 per cent of urban starts
were in the Vancouver and
Victoria metro areas thus far
in 1985 compared to 70 per
cent in 1984 and 68 per cent
in 1983.

Single detached starts in
the urban and rural areas
totalled 3,257 units in the
second quarter of this year.
This was up from the first
quarter’s level of 1,851 units
and up from the 3,059 units
started in the second quarter
of 1984.

URBAN TOTALS UP

The urban and rural areas
totalled 2,756 and 501 units,
respectively, in the past
quarter. In the second
quarter of last year, the ur-
ban and rural totals were
2,288 and 771 units.

In the third quarter, 2,810
singles are expected to be
started. This is lower than
the last quarter due to
seasonal factors. The
underlying trend factors
such as mortgage rates
should remain favorable.

Multiple starts were un-
changed from last month.
There were_494 units started
in July ‘and.“492 units in
June. Compared to July
1984," multiple ‘starts - were
greater by 43 per cent.

For the seven. months en-
diag in ‘July, starts totalied
3,875 units. This was down 6

‘per cent from the 4,118 units

started in 1984,
‘About eighty: percent of

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multiple starts have been in
the Vancouver metropolitan
area so far this year.

Starts of apartment and
row units were down slightly
to 444 units in July from 454
units in June. Semi-detached
starts were 38 units in June
and 52 units in July,

The tenure composition of
July’s apartment and row
Starts was 318 condominium
units and 126 rental units.

DOUBLED

Condominium starts have
doubled. Through to July,
condominium starts totalled
1,730 units this ‘year,
whereas in the same period
last year, there were 879
units started.

Rental starts, by com-
parison, have declined. This
year. 1,307 rental apartment
and row units have been
started. Last year's seven
month total was 2,169 units.

Completion data for
January to July show a
slightly different pattern
than starts. Condominium
completions totalled 912
units in 1985 compared to
1,028 units in 1984. Rental
completions were down by a
greater amount from 2,621
to 1,912 units so far in 1985.

Multiple starts in the se-
cond quarter totalled 1,790
units in the urban and rural
areas, That was down from
the second quarter of 1984
total of 2,056 units but up
slightly from the 1,735 units
in the first quarter.

Second quarter 1985 starts

were comprised of 1,666
units in. the urban areas and
124 units in the rural areas.
’ Starts in the third quarter
are likely to be lower than in
the’ second. quarter. A total
of 1,300 units are expected.

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