Vancouver Region and the Fraser Valley, Communities

Lands, Parks and Housing . Minister James Chabot... has

announced increases in

house ‘price ‘limits qualifying for grants and: mortgages under the Home Purchase Assistance Act. This includes the Family First Home Grant and the new First Home Grant.

The new house price qualifying for grants in the Capital Region, Greater

{up to and including Chilliwack) has been in- creased from $54,000 to $56,000, and in. the rest. of

price has increased from $60,000 to $62,000.

t

* The new two price system

instituted in July‘has.- greatly |

the province, the price has- simplified the system, “and

increased from $50,000 to ‘$52,000.

The new house price qualifying for a second mortgage in the Capital -Region, Greater Vancouver Region and the Fraser Valley Communities (up to and including Chilliwack) has been: jncreased from $65,000 to $67,000, and for the rest of the province the

will. be continued. Chabot said ““We are not talking about luxury ac- commodation. But these price ranges will provide basic liveable ac- commodation. Now that interest rates are so high, our

grante and mortgages will be .

even more useful to first home buyers to allow them to purchase a home within their means”

These house. price limits are’ .reviewed every — six months with assistance from the B.C. Real Estate Council

“The ministry appreciates the assistance of the Real Estate Council and its af- filiates — the real estate boards", Chabot _ said. “Multiple Listing Service data shows that = ap-

proximately forty per cent of

sales in the Lower Mainland fall within our price, limits, and this is a very healthy portion of the total housing market”, Chabot confirmed.

‘Stan Reid

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Shore.. When you want to advertise in the Real Estate Showcase, call us.

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