3.5 MI

NEARLY HALF of all
Canadian homeowners
are planning renovations
for the vear ahead,
according to Canada
Mortgage and Housing
Corporation’s (CMHC)
National Renovation
Markets report, releised
today.

“This is good news for
the industry.” said Gilles
Proulx, CMHC's Chief
Economist, “The 1990's are
fast turning into the decade
of renovation as economic
conditions, along with
changing consumer tastes
and aging housing stock,
have boosted interest in ren-
ovation projects.”

Spending on home reno-
vation is expected to outpace
spending on new construc-
tion in 1995. Renovation
spending will jump 7%, to
$20.5 billion, up from an
estimated level of $19.1 bil-
lion this year. By compari-
son, new construction
spending will reach $17.4
billion next year.

“A solid) economic
expansion, combined with
more full-time jobs and
improved incomes will fuel
the increase in home renova-
tion.” said CMHC's Proulx.
“In many markets. more-
over, homeowners will
decide to renovate rather

time for
lion owners

than move” he added.

Regionals. the Ontario,
Quebee and BoC. reno ation
Mmarkels appear lo be pores
for the best improvement
because of the economic
rebounds that hase occurred
in the three pravinees.
Renovation spending in the
Pragrig and: Atkuie regis
will be lower due to mixed
eeonomiec performance.

In addition to the our
look. this issue of CMHC's
National Renovation
Markets presents a profile of
homeowners who undertake
interior renovation projects
It provides new estimates cf
the market for kitchen and
bathroom renovations and
reviews some findings from
a special consumer survey
conducted by CMHC.

Findings include:

* Nearly two-thirds of the
interior renovation spending
is undertaken by 150.000
owners (ont of 800,000)
who spend more than
on their renovation projects.

* Homeowners who
moved within the last year
undertake more interior ren-
ovation projects (han owners
who have lived in their
hone for a longer period of
tinte.

® The market for kitchen
renovations is nearly $1.2
billion and around $850 til-
lion for the bathroom renv-
yation market.

Some of our features include:

ver New Home Warranty

+ 380 down, 93% CMHC End Rati

Financing

* Overlooking the fairway dt the

Sevmiour Gall Couise

» Individual stor cige faa tities

+ Secured undergrotnd parking

» Alb units with in-state lawidry

* Handsome tiled floors inentiy

fovers and kitchens

Gus fireplaces finished with
traditional mantels and tiled hearths

cand surrounds

* Heritage-sovle interior doors and

hutchen cabinets

* Fully enclosed balconies

he Leyend at Raven Woods ts a luxurious condominium developnrient sec ina tranquil

shopping and recreational amenities, The Legend is ideal for people who are on the go or

© Nearby 300.000 owners
teported samme spending for
these preqeets WH respeu-
Hive averages of $4200 and
SISO

* Comtract work amount
ed to 756 of the market
value for Kitchen renova-
tions and to 65° for bath-
POCHIL POH ata ns,

Vive Regional
Renovation Markets reports
covering specific findings
for the Atlantic. Guebee.
Ontario, Prairie. and British
Columbia regions will be
released tater this year.

Police host
open house

THE WEST Vancouver
Police department is
hosting its annual open
house on Saturday, Oct.
29 at its 1330 Marine
Drive location (to the
west of the entrance to
Ambleside Park).

The day-long event
is an opportunity for the
public to tour the sta-
tion. see a police dog
demonstravion, visit a
cell block and find out
how forensic scientists
recreate crime scenes,

environmenton ihe edge ofa forest in North Vancouver. Convenently located near

2 BED § LOFT!
- Quiet central Ambleside location - Recently redecorated
- Top floor - Almost 1000 sq. ft.

#412-1363 CLYDE AVE., WEST VANCOUVER
$69,900

— Semi Waterfront Lot

— serviced with water

#903-

For further information,

please contact the Royal LePage
Praject Marketing Division or
visit the Presentation Centre at
630 Roche Point Drive in

North Vancouver. Open daily
12:00 - 3:00 p.m. closed Fridays.
Anticipated Completion
May 95

Luxury Condominiums
One Bedroom, Twe Bedroom

and Penthouses starting
from $134,900.

(604) 929-1915

who just want io explore the abundance of nature just outside the door,

+ Appliances ~ stove. refrigendtai,
dishwasher, sarburatot, washes

&drvet

Nine foot cctfiings most raonrs

RMR hte unan
ROYAL LEPAGE

Raa NUE

rene

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TO)

wre

The
LEGEND

at Raven Woods

eb fe eatin Et Nite) Satie Stade ci Pevestencnt Ef nd Webey Woods acids fhe