ESTATE
CMHC launches new book

IN 1991, renovation spend-
ing totalled $16.7 billion,
amounting to nearly half of
total spending on residential
construction, according to
Canada Mortgage and
Housing Corp.’s (CMHC)
new National Renovation
Markets publication, laun-
ched Nov. 3.

The new annuai publica-
tion is expected to become
an important planning
resource within the con-
struction industry, compil-

“Information on home-
owner renovation spending
is important to the industry
as two-thirds of all expen-
ditures is spent on contract
work,’’ explained Gilles
Proulx, CMHC's chief
economist.

“Right now, the renova-
tion industry is just as big
as new construction and its
value should increase fur-
ther in the future. .

“Contrary to previous
recessions, renovation

slightly compared to a large
drop in construction of new
homes, and recent indicators
show it is recovering in
1992,"°

The regional pattern of
renovation spending has
moved in tandem with the
general economy, contrac-
ting in Ontario and Quebec
while maintaining steady
growth in B.C. and Alberta.

This publication reviews
recent trends in renovation
spending, presents a profile
of who spends the most on
renovations, broken down

ARMSTRONG

925-3678
650-3749 por.

ing Canadian renovation in-
formation from a_ wide
range of sources and analyz-
ing the extent of activity
and recent market trends.

by age, value of the dwell-
ing, etc., and provides a . ORES
provincial breakdown of § : * ; :

renovation activity. is ™
4 OPEN ALL WEEKEND BY APPT.
© Hardwood in living
raomidining room
¢ Across from park

spending has not been unaf-
fected,"* added Proulx.
**However, renovation
spending declined only

RES: 9 R: 623-5522
P hug EXCEPTIONAL VALUE!

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. TION & AN APPOIINTMENT TO
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* Family room
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* 66°x120" effec. iot

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He Master bedroom wiensuite

4121 QUARRY COURT
¢ Master bedroom with
fireplace and 2-person
corner jet tub
« 5000 sq.ft. potential

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‘ [DEPENDENT MEMBER BROKER

© 12,000 sq.ft. lot

© Pantry wall te wall
*3 fireplaces

«3 car garage

= Fantastic floor plan
, © 4 bedrooms up
‘@ ¢ Gourmet kitchen with
B Jenn-Air

west Coast realty”.
T MEMBER (BHOKER . 3

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REAL ESTATE”

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“WINDSOR PARK’S
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JACK HAMER-JACKSON
(Residentia! Specialist)

Mi orn
| ‘DELUXE RIVERFRONT ESTATE?
jA country gentleman's estate (66'x382'), a paradise of flowers,
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FOR NINETEEN YEARS, MY CLIENTS
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4

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