HOUSING starts continue to
lag in Vancouver, despite low
interest rates and an upturn in
sales, according to Canada
Mortgage and — Housing
Corporation's latest. New
Housing Report.

April housing starts
declined by 32% from activity
levels seen a year ago. While
single-family home construc-
tion was down marginally,
multi-unit’ starts are Signili-
cantly behind last year’s level.

“A large, but declining
inventory of condominium
units is the major cause of
reduced construction activity.”
said a CMHC analyst. “The
recent upturn in sales will
reduce this inventory, but it
will take several more months
to translate into increased mul-
tiple unit construction activity.”

Residential construction
activity has increased in

Richmond and Langley while

starts in Vancouver are only a . Tearing down the house

third of what they were at this

time last year. A total of 599 A work.crew puts the finishing touches on the destruction of a house that stood on the south-east corner of Chesterfield Ave.
units were started in the city of and 5th St. in North Vancouver. A condominium project, called the Jade, is scheduled to begin construction immediately on the
Vancouver during the first four site. The 21-unit, three storey complex will feature seven different floor plans that will include natural gas fireplaces, baiconies
months of this year, compared and secured underground parking.
with 1,843 units in the same

period lasts year.

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#307-315 E. 3RD ST. 478 WEST WINDSOR ROAD

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* Huge gourmet kitchen

” fis fi . * 757 sq.tt
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1394 McNAIR DRIVE * $153,500 * $648,000

_ Sussex Group ~ S.R.C. Realty Corporation Lonsdale Office 984- 971 1

Mem pe watery eae a ae ee ee 2 ce ee

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