pn

starts
drop in
March

THE  MEFROPOLI-
TAN Vancouver area
had 837 housing starts
in Mareh which was a
decrease of 559% from
the fevel in’ March.
1994, according — to
Canada Mortgage and
Housing Corporation
(CMHC),

The decline was
sharpest in the multiple
sector, which were 66%
lower than in) March,
1994. “The weak starts
are a reflection of fewer
sales. particularly by
first time buyers, as a
result of higher mort-
gage interest rates,”
said CMHC's Don
Renaud.

“Given the large
number of incentives
which are being offered
by builders, and the
large selection of units
from which to choose,
conditions are favoring
buyers,” he added.

ha . ‘ 7 a ed } g f .
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NEWS pholo Cindy Goodman

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OCEAN AND
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85' X 125’
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saps 100’ X 150°
ay PRIVATE LOT
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[WILDERNESS "ff: et at (| Ge concen
SETTING |. EI

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“ : iid Be \ : *. vn ea’. «=O AN abundance of top quali-

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temporary.
: 5310 INDIAN RIVER DRIVE 402-3670 BANFF COURT