62 — Friday, May 2, 1997 — North Shore News

Good news for renters

NEW records in 14 metropol-
itan centres helped push hous-
ing affordability nationally ro
a 23-year high during the sec-
ond half of 1996, according
to Canada Mortgage and
Housing Corporation’s
(CMHC) Canadian Housing
Markets report.

This means more renters
can afford to become home
owners.

“The fowest mortgage
rates in over 30 years were the
main affordability boosters,”
said CMHC market analyst
David Dallaire. “The sky-high
affordability, along with an
abundant supply of affordable
homes on the market, created
record levels of first-time buy-
a”

1906 MOUNTAIN HWY

MEDALLION

“Nt

1188 DYCK ROAD - $599, 000.
New, view, 4200 sq.ft., 3 level home.
ED HUME 986-4371

721 GRANTHAM PLACE - $384,900
New 2500 sq.ft., 3 level, 4 bedroom home.
ED HUME 986-4371

“This strong affordabilic
led to records in 14 centres,
up from nine centres in our
Previous semi-annual report
and five centres a year ago,”
he added.

The mest — significant
change was in Prairie centres.
Records in Calgary,
Edmonton, Regina — and
Winnipeg raised affordability
for renters to levels not seen
since 1970. The only excep-
tion to this trend was
Saskatoon, where a 10.5%
annual increase in starter
home prices was the highest in
Canada.

Although Victoria and
Vancouver are not at 25-year-
high levels, they have made
great strides in affordability

and are at 2 high for this
decade.

AY major Atlantic centres
set records for affordability:
Charlottetown, Halifax, Saint
John and St. John’s. In the
Quebec Region, Chicoutimi-
Jonquiere, Hull, Montreal,
Quebee and Trois-Rivieres set
records. Increasing — prices
dropped Sherbrooke trom the
affordability peak in the first
half of 1996.

Ottawa was the only centre
in Ontario with a record-
breaking performance. Other
centres peaked in the mid-
1980s.

Another article in
Canadian Housing Markets

See more page 16

"$276, in

") 3 bdrm rancher
ca beautifully redone

BAY CITY REALTY INC.

“New Home Specialists”

oe

- 2 bedrooms
-.2 bathrooms
- 1070 sq. ft.
- Huge deck

- Maple kitchen

~ Tile floors

hardwood floors
large 128 x 115 lot
double garage
new roof

Explore it today!

#321-1385 DRAYCOTT - $199,900

- Roof top deck

- Billiard Room

- Workshop & party room
- Quiet cul-de-sac

- Underground parking

- Extremely private

ED HUME 986-4371

1433 BERKLEY ROAD

$438,800

Tastefully updated 2 storey home on an
extremaly private level lot.
- 3500 square feet - Awesome island kitchen

+ 60°x120' tot
+ Six bedrooms

- Elegant master bedroom
- Family room & den

B - Three bathrooms - Easy Suite conversion
- Huge rec room = - Plenty of parking
OPEN WEEKEND BY APPOINTMENT

ED HUME 986-4371

1408 RIVERSIDE DRIVE - $545,000
New 3800 sq.ft., 3 leval private home.
ED HUME 986-4371

1518 HUNTER STREET - $298, 000
New 2000 sq.ft., 2 level, 3/4 bedroom home.
ED HUME 986-4371

Youve Invited...

to join us at our

FIRST ANNUAL
Geranium Tea

May 4th, 1997, from 1 - 3pm
in the Atrium
Our residents will be pleased to -
introduce you to this unique community

designed for the mature homebuyer.

The

1188 Parkgate AveX
North Vancouver

929-265

#10-1199 LYNN VALLEY ROAD
NORTH VANCOUVER
(AT LYNN VALLEY CENTRE)

986-4371

Park

Victor
We

1a
Vet

166 WEST KEITH RD.

NORTH VANCOUVER, 8.C.
OPEN DAILY 1-5

W NINE FOOT CEILINGS THROUGHOUT

W FLOOR TO CEILING BAY WINDOWS

WW QUALITY KITCHENS WITH BREAKFAST NOOK
W SEVEN APPLIANCES & VERTICAL BLINDS

WW MARBLE FINISHED GAS FIREPLACES

W WHIRLPOOL. SAUNA & EXERCISE ROOM

Wy TWo GUEST SUITES

WW LIVE-IN CARETAKER

ONE BEDROOM. TWO BEDROOM,
TWO BEDROOM AND DEN AND PENTHOUSE SUITES