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New home construction is one of Canada‘s biggest sources of jobs and economic growth, said the Honourable David C, Dingwall, Minister responsible for Canada Mortgage and Housing Corporation (CMHC) , in his proclaâ€" mation of April as New Homes Month. Strong activity in both the private and assisted rental markets in March 1993 conâ€" tributed to the sharp drop in multiple construcâ€" tion in the past month. At 517 units (6,200 SAAR), multiple activity was 44% below last year. Construction of townhomes and semiâ€" detached units, however, were higher. For the first three months of 1994, multiple unit conâ€" struction was down 15% from the same periâ€" od last year. The increase in homebuying that has occurred in the past few months contributed to a 27% rise in home ownership starts from last March. Singleâ€"detached activity, the main component of home ownership and an indicaâ€" tor of market conditions, rose 11% to 487 units (9,700 SAAR). For the first quarter of the year, however, starts of singleâ€"detached homes were down by 18% compared to the same period in 1993, as harsh weather in January and February limited construction. "Buying a home is an investment in Canada‘s future," said Mr. Dingwall. ‘"Behind every construction worker are many others, producing materials that go into building a home and furnishing it. Housing also creates opportunities for all the service industries supâ€" porting the purchase of a new home." For March, a total of 1,004 starts were recorded in the Toronto CMA, a drop of 26% from last March. Activity was stronger than the first two months of 1994, however, rising from 12,300 (seasonallyâ€"adjusted at an annual rate) in January and 15,200 SAAR in February to 15,900 SAAR. "Despite the fall in total starts, there were a number of encouraging signs in the past month," noted Willard Dunning, Senior Market Analyst at CMHC‘s Toronto Branch Office. "Last March represented the second strongest month for assisted housing in 1993, partially explaining the magnitude of the yearâ€" overâ€"year decline. More importantly, six conâ€" secutive months of strong new home sales have finally led to an increase in the construcâ€" tion of units for home ownership, an indicaâ€" tion of a gradually improving market." reduction in the construction of assisted housing led to a fall in total housing starts in the Toronto Census * Metropolitan Area (CMA) during March, according to Canada Mortgage and Housing Corporation‘s (CMHC) Toronto Branch. On a positive note, the strong homeâ€" buying activity that has occurred in recent months is finally showing signs of increasing the construction of homes geared to ownerâ€" ship. "Housing is also central to our quality of life. It gives us a stake in the community and a sense of belonging," said the Minister during his proclamation. Over the years, the federal government and its many partners have made it possible for millions of Canadians to achieve their dream of homeownership through mortgage insurâ€" ance and flexible financing. ‘As Canada‘s housing agency, CMHC proâ€" vides consumer information to ensure Canadians make informed housing decisions. During New Homes Month, as well as throughout the year, consumer information is available at CMHC booths at home shows, or by contacting local CMHC offices across the April is _ New Homes Month Toronto housing starts drop in March "The outlook for home ownership conâ€" struction is quite positive for the next quarter," added Dunning. "The recent hikes in interest rates will keep sales activity strong for the $169,900. Settle down and enjoy this freehold townhome. 3 bdrms with 2 pc. ensulte. Living room with cozy fireplace. Move in condition. Please call ANNA PAFFRATH*, 849â€"9800 24 hr pager. pager. Asking $299,000. Bright green house kitchen with oak cupboards, stunning family room with gas marble fireplace, main floor den, 4 bedrooms. Located in a most desirable neighbourhood. If you are ready for the step up, please call ANNA PAFFRATH®, 849â€"9800 24 hr $204,500. Fully detached, family room with fireplace, walkout to landscaped fenced garden, finished basement with bathâ€" RAVEN®**, 849â€"9800 338â€"9487 $287,500. 150‘ garden with heated pool for a fun summer. 4 bedrooms, gleaming ceramic enhances the main floor. Walk to schools, Please Call ANELL FRANCIS®**, 849â€"9800, 845â€"3344. "A PERFECT 10" $134,770. Ideal for "empty nesters‘. You will definitely approve of this 2 sty. 3 bdrm. condol! A fireplace enhances the spadous Itv/din mms (each with Its own sunny balcony !). Professionally updated Including the kit. with 3 appllances. Short walk to GO shopping. Please call ANELL FRANCIS***, 849â€"9800, 845â€" room, c.entral alr and appllanc5 Included. Please call MARYâ€"JO $660,000. Magnificent 3,800 sq. ft. customized executive home. Hardwood, ceramics, 150‘ lot. Professionally landâ€" scaped, Interlock walkway, security system. 4 bedrooms. June possession. Please call ANELL FRANCIS®**, 849â€"9800, 845â€" $389,000. Nestled on a park like lot with Inground pool, 5 bedâ€" room "1 owner" home. Anished rec room, 2â€"1/2 baths, wak to schools, Please call ANELL FRANCIS®**, 849â€"9800, 845â€"3344. 1986 Coldwell Banker Residential Real Estate. Presented by An Independently Owned and Operated Member of Coldwell Banker Affiliates of Canada Inc. Expect the best SsouRCcE: CMHC Your Oakville Specialist Since 1975 SHOWN WITH PRIDE FOR YOUR ENJOYMENT 15 TORONTO CMA HOUSING STARTS Seasonallyâ€"Adjusted At Annual Rates Thousands J FMAMJ JASOND J FMAMJ JASONDJ FMAMJ JASOND J FMAM.J 1991 | 1092 | 1993 | 1994 | 88 DUNN ST. OAKVILLE 849â€"9800 ANELL FRANCIS REAL ESTATE Mulitiples sz 77777 Spacious 4 bdrm w/main floor family rm. Finished recreation room. New broadloom and kitchen floor.$212,900. MARILYN WYKES* 847â€"3030 24 HR. PAGER/844â€"9859 RES. DON MICHIE* 847â€"3030 MARILYN WYKES* 847â€"3030 24 HR. PAGER/844â€"9859 RES MICHELE GABOURY* 847â€"3030 24 HR. PAGER/845â€"8445 RES. Among Census Metropolitan areas, Vancouver continues to lead the way with a total of 1,845 starts in March, followed by Toronto (1,004), Montreal (929), and Quebec (311). next few weeks, as fenceâ€"sitters look to take advantage of preâ€"approved mortgages. The subsequent rise in home ownership activity will boost total starts by almost 11% in 1994 to 17,300." Nationally, housing starts fell from 152,800 SAAR in February to 142,200 SAAR in March, as multiple starts dropped sharply in Ontario and the Prairie provinces. For Ontario, total starts were down from 41,900 SAAR in February to 34,100 SAAR in March. DON MICHIE* 847â€"3030 MARILYN WYKES* 847â€"3030 24 HR. PAGER/844â€"9859 RES. MARILYN WYKES* 847â€"3030 24 HR. PAGER/844â€"9859 RES. MICHELE GABOURY* 847â€"3030 24 HR. PAGER/845â€"8445 RES.