x Intimate Gated
Community

x% Only 12 homes

# Over 2300 sq. fi.

# 3 or 4 bedrooms

FEATURES

* Large 2 car garage
# 3 1/2 baths, 2 full ensuites
#% Gorgeous master bdrm on

1500 sq.ft. main floor

% British Properties area!

erat

EE ANS RAPA TUR

% over last year

NEW home construc-
tion rose 20% in the
first quarter of 1997
to 155,200 units
(SMR) from 129,300
in the last quarter of
1996, according to the
latest figures issued by
Canada Mortgage and
Housing Corporation
(CMHC).

“The new housing market
gained momentum in the
first, quarter of 1997,”
according to Michel
Laurence, Senior Economist
with CMHC's 9 Market
Analysis Centre. “While
recent increases in mortgage
rates may dampen housing
starts slightly over the next
few months, employment
gains are expected to com-
pensate over the longer
term.”

Single-detached starts
rose in the first quarter to
103,300 from 79,900 in the
fourth quarter of 1996.

Multiple unit construc-

from 49,400 units over the
same period.

In British Columbia, con-
struction starts rose to
25,800 units from 24,600 in
the fourth quarter.

Moderate home building
in the province reflected a
slowing economy and rela-
tively high inventories of
aewly completed and unoe-
cupicd multiple dwellings.

The volatile multiples
market was also down.

Ontario starts increased to
55,900 units from 46,700
with gains in single-detached
and multiple-unit construc-
tion.

Continued construction
growth reflected an active
resale market and low inven-
tories.

Quebee housing | starts
remained essentially
unchanged at 25,500 units,
compared with 25,300 units
during the previous quarter.

Construction was limited
by still high inventories of
newly completed and unoc-
cupied units as well as high

The moderate building
pace was consistent with
employment trends and cco-
nomic conditions in the
province.

In the Prairie region, con-
struction rose to 32,200
units from 22,500.

Most of the region
enjoyed strong economic
expansion with positive con-
sequences for new homes.
Activity reached 27,700 units |
in Alberta, a high last seen in
1982.

Construction was also up
in Saskatchewan to 2,200
units.

Building activity was
down in Manitoba to 2,300
units from a strong pace the
previous quarter.

In the Atlantic region,
housing starts increased to
15,800 units. New construc-
tion in Nova Scotia at 11,700
units, pushed up the regional
toral.

Starts declined in all other
provinces: Newfoundiand to
2,100 units, Prince Edward
Island to 300 units and New

1251 Third Street
West Vancouver

ESKER LANE

OPEN DAILY (except Fri.)
1 to 3

rental vacancy rates.

tion also increased to 51,900 Brunswick to 1,700 units. :

on the North Shore.
To reach these happy viewers, place your ads where the readership is

Rich with ltalian marble,
floor-to-ceiling windows and
Jenn-Air kitchens, the final few
Deer Ridge townhomes offer

more than you find in most

i - - a on oa oe single-family bomes.

PUNT Ta
Pont Large living areas, soaring

ep ord 1s ;
my ope ceilings, wine storage space, tivo
patios, dramatic decks, private
grounds, tennis courts and ~
att immeasurable ocean view.

Unfortunately they are

in short supply. So we suggest
you visit today. Unless you prefer

to settle for less.

Only select townhomes remain available.
2,900 sq. ft. from $709,500 Includes GST & six appliances.
Open daily, except Friday, Ipm to 5pm. Or call Bob Smith at 922-7373.
3178 Deer Ridge Drive, West Vancouver.

DR. RED