Steady increase in housing Starts predicted provincially THE CANADIAN Home Builders Association of B.C. is predicting a five per cent increase in building starts in the province, up from 20,000 in 1986 to 21,000 in 1987. This would continue the steady increases experienced since 1984 when there were only 16,000 starts. This pace of growth of homebuilding should heip dampen the boom and bust cycle that was experienced in the 1970s and early 1980s and, coupled with the out- break of prudence and cau- tion in buyers, lenders and within the industry itself, the °86 and °87 market is a saner, stabler, more realistic one than the market of ’80 and ’8! when 41,000 units were built. Bill Strain, president cf the Canadian Home Builders Association of British Col- umbia, perceives the ’86 and ‘87 housing market as less volatile than previous mar- kets. “Buyers today are older than in the past,’’ explains Strain. “The majority are over forty and are looking at purchasing their second or third -homes. They are buy- ing quality and permanence. There is also a large retire- ment population looking for well-built, energy efficient homes in the $100,000 to $150,000 range. Residential construction should see a steady increase throughout 1987, assuming all things remain equal.”” Says Andre Moltnar, first vice-president of the Cana- dian Home Builders Association, ‘‘Home buyers today are of a different calibre than their predecessors of five year; ago. They are more mature and possess a_ better understanding of the mar- ket. As a rule, they are not looking at purchasing as a means of speculation, but rather as a long term in- vestment. Quality and lasting value are criteria that buyers tend to favor in houses today.”’ Gary Santini, owner of Parklane Venturer, one of the largest residential con- struction companies in British Columbia, sees cer- tain variables misting up the crystal ball. “The anticipated 21,000 new housing units for 1987 could change,” says Santini. ‘‘Although no one knows the ramifications of the recent 15 per cent lumber tariff imposed by the Cana- dian Government lumber industry, it could ef- fect construction, especially in the small lumber towns in the interior of B.C. A lot of people could suffer from unemployment and lost in- come, which ultimately af- fects residential construc- on the- tion.” The impact of residential construction on the economy and employment in British Columbia is substantial. In 1985 a total of $2.8 billion was spent on residential con- struction with a_ slightly higher figure of $3 billion in °86, which accounts for 5.4 per cent and 6 per cent of the gross provincial expen- diture in the respective years. These figures translate in- to over 40,000 jobs in B.C. and additional 13,000 in the rest of Canada. {1 is further estimated that the volume of new residential construction activity in B.C. resulted in an additional $16.2 million in municipal property tax revenues per year, $15.7 mil- lion in provincial income taxes and $27.5 million in federal income taxes. ‘Therefore, a total of $43.2 million of income tax reve- nue was generated from B.C. construction workers in 1985. The industry is optimistic about 1987. There is a feel- ing of cautious enthusiasm throughout the province. **The days of mad speculation and frontier- manship are over,’ says Moinar. ‘‘The residential construction industry con- tinues to see a_ healthy, steady growth. Last year was a good year and 1987 should be even better.’’ _.. 0 (BRAND NEW: HOME -© Spacious 3 bdrm home in area of new ’ development 2 level, hot water heat & single garag+ ® Large level lot with some fencing .* Quality & value. ED HUME 985-2557 ROB LEBLOND 9729-0266 OPEN SATISUN 1-4 e _ 2824 MUNDAY PLACE e Attractive 3 bdrm, 3 level split with 2% baths, tull ensuite, shake roof, family room off bright kit- chen on a quiet street of fine homes. ED HUME 929-2557 OPEN SUN 2.4 1961 BERKLEY Best of Blueridge! Super split level plan with up- dated kitchen & baths, 3 bdrms up & large com- fortable family room down. 70‘wide fenced westerly facing garden lot. Priced hot! LINDSAY McDONALD 986-4371, 986-5062 $192,000 ALMOST FINISHED, NEW HOME Traditional 4 bdrm home. 2134 sq.ft. plus full un- finished bsmt, sunken living rm, crosshall dining sm, double garage, 2 baths, etc,, etc. call now! ROB LEBLOND 986-4371, 929.0226 59 - Friday. February 6, 1987 - North Shore News ——— Rockwooo 5S TA S* Waterfront — West Vancouver's First Exclusive Waterfront Estate. 4.8 acres " — only 16 custom designed & quality built detached homes. : 2s Walking Distance To the Beach, Golf Course, Tennis, Boat Moorage & miles | of forest trails. Woodland gardens, waterfalls, ponds, granite footbridges, pathways, F swimming pool, sauna and jacuzzi all within the estate. : Security Gates & fences of granite and wrought iron provide complete and @ undisturbed seclusion. 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