70 — Friday, January 9, 1998 — North Shore News

‘Housing starts to rise in 98

In 1998, for the third year in a row, housing activity will increase in all major urban centres com- bined, according to Canadian Housing Markets (CHM), released in December by Canada Mortgage and Housing Corporation (CMHC).

Toral housing starts wiil increase by 8% and will be up in 20 of 27 major cen- tres. According to CHM, the outlook for multiple starts is even better, with an increase of 10%, On top of this year’s good perfor- mance, including record- breaking levels in) many centres, resales will main- tain their pace and will increase by a further 1%.

“As interest rates remain at affordable levels and employment continues to improve, stronger con- sumer confidence will sus- tain housing = market growth,” said Bruno Duhamel, market analyst at CMHC’s Market Analysis Centre.

The analysis points to further growth in housing activity in central and west- ern Canada, especially for medium-to-low priced homes in specific local markets. The top five mar-

kets tor housing construc: tien growth will be Calgary 125.0%) Edmonton (22.4). Thunder Bay (20.11, Saint John €17.05 and Ottawa (15.9),

Calgary's residential construction will climb to levels not seen since the boom years of the early 1980s. Fundamentals for the housing marker will remain healthy, with employment gains solid, consumer confidence high and interest rates low. Homes — priced — below $150,000 will continue to increase their share of the market.

Another article — in Canadian Housing Markets summarizes a recent analy- sis of migration patterns in Montreal. It points out thar the widespread move- ment away from the city centre, Which had) major consequences for housing in the 1970s and 1980s, appears to be slowing down,

A third. article lights the research that could make average house prices a more useful indicator. Average prices can be mis- leading when there is a heavy sales of very expensive or very inexpensive homes. This article discusses alter- native ways of measuring price averages.

high-

results of

concentration of

NEWS photo Cindy Goodman

Snowball fight, anyone?

DONALD Miles, Adam Clarke and Deborah Clarke (left to right) take advantage of the North Shore's fleeting snow cover last Sunday te rofl a mammoth snowball. Warm weather washed away their hard work the next day.

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