Vancouver Region and the
Fraser Valley, Communities

Lands, Parks and
Housing . Minister
James Chabot... has

announced increases in

house ‘price ‘limits
qualifying for grants
and: mortgages under
the Home Purchase
Assistance Act. This
includes the Family
First Home Grant and
the new First Home
Grant.

The new house price
qualifying for grants in the
Capital Region, Greater

{up to and including
Chilliwack) has been in-
creased from $54,000 to
$56,000, and in. the rest. of

price has increased from
$60,000 to $62,000.

t

* The new two price system

instituted in July‘has.- greatly |

the province, the price has- simplified the system, “and

increased from $50,000 to
‘$52,000.

The new house price
qualifying for a second
mortgage in the Capital
-Region, Greater Vancouver
Region and the Fraser
Valley Communities (up to
and including Chilliwack)
has been: jncreased from
$65,000 to $67,000, and for
the rest of the province the

will. be continued. Chabot
said ““We are not talking
about luxury ac-
commodation. But these
price ranges will provide
basic liveable ac-
commodation. Now that
interest rates are so high, our

grante and mortgages will be .

even more useful to first
home buyers to allow them
to purchase a home within
their means”

These house. price limits
are’ .reviewed every — six
months with assistance from
the B.C. Real Estate Council

“The ministry appreciates
the assistance of the Real
Estate Council and its af-
filiates — the real estate
boards", Chabot _ said.
“Multiple Listing Service
data shows that = ap-

proximately forty per cent of

sales in the Lower Mainland
fall within our price, limits,
and this is a very healthy
portion of the total housing
market”, Chabot confirmed.

‘Stan Reid

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vm f
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or your listings ‘on view’ across the whole North

Shore.. When you want to advertise in the Real
Estate Showcase, call us.

980-0517

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