20 - Friday, May 15, 1992 - North Shore News

HOME & GARDEN

First quarter housing
starts drop nationally

NATIONAL HOUSING
starts fell 15.5% to 153,000
units seasonally adjusted at
an annual level (SAAR)
during the first quarter of
1992, according to Canada
Mortgage and Housing
Corporation (CMHC). Dur-
ing the fourth quarter of
1991, starts were at a revis-
ed level of 181,000 units
SAAR.

“The new construction market
bottomed out early in January
and moved higher in February and
March. Further advances can be
expected in the second quarter,
due to a strong resule market and
recent policy actions like CMHC’s
95% First Home Loan Insurance
and the new Home Buyers’ Plan.

The response to CMHC’s pro-
gram by first-time buyers has
been favorable, with strong initial
participation,”’ said Gilles Proulx,
chief economist in CMHC’s mar-
ket analysis centre.

The first-quarter- level dropped
because of housing activity trends
in Quebec and the Atlantic Pro-
vinces. Activity was unchanged in
Ontario, British Columbia and
Saskatchewan, while modest in-
creases were posted in Alberta and
Manitoba.

“The lower level of starts in

Quebec during the first three
months of the year is mainly due
to the end of the construction
support program sponsored by the
provinciat government.’ Proulx
noted. *‘In the Atlantic region, the
decline was a result of the delayed
revival of the economy and, in the
case of Newfoundland, dampened
economic prospects due to lower
fishing quotas and uncertainty
about the Hibernia project,’’ he
added.

A total of 4,000 housing units
SAAR were started in the Adlantic
region during the January-March
period, down from 12,000 in the
closing quarter of last year. Starts
in Quebec were at a rate of 33,000
units SAAR, down from 55,000
units in the closing quarter of
1991.

Ontario starts were unchanged
at 56,000 units SAAR as step-
ped-up starts of multiple units,
mainly for social housing, offset a
further decline in starts of single
detached dwellings. In British
Columbia, housing activity re-
mained strong at 40,000 units
SAAR, unchanged from the
fourth quarter of 1991. Saskat-
chewan starts remained at the
1,000 units level.

Alberta and Manitoba starts
were 16,000 units and 3,000 units
SAAR respectively, up marginally
from the previous quarter.

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Production returns to Deep Cove

THE WINNER of this year’s
North Shore Zone Festival of
Plays was such a hit with focal
audiences, say its producers,
that it will make one last
comeback before it leaves for

the provincial finals in Camp-
bell River this summer.

North Vancouver Communi-
ty Players will re-mount David
Storey’s Home at Deep Cove
Cultural Centre from June 4-6.

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in addition to best play, the
production won best director
{Rita Weakes} and best ensem-
ble acting, and received an
honorable mention for lighting,
costumes and set.