Oakville Beaver, 10 Aug 1994, p. 31

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pushed national housing starts to an 18â€"month high of 166,600 units in June, reported Canada Housing and Mortgage Corporation. On a seasonally adjusted annual rate (SAAR)* basis, total starts rose 5.2 per cent from May‘s 158,400 S tronger multiple construction activity Urban starts of multiple dwellings surged 19.9 per cent to 70,000 units SAAR in June, up from 58,400 units in May. Starts of sinâ€" gleâ€"detached homes fell 4.6 per cent to 70,200 units SAAR, compared with 73,600 units in May. "The surge in new construction was due to condominium starts in British Columbia recovering after two months of unusually low activity. As well, Ontario posted higher starts of multiple units, mainly apartment condominiums, semiâ€"detached and row houses in Toronto," said Gilles Proulx, chief economist at CMHC‘s market analysis cenâ€" tre. "Later this year, new construction is expected to drop because of increases in mortgage interest rates that took effect durâ€" ing March and again in June. But, with the current stronger levels of employment and economic activity, the drop should be limitâ€" ed," Proulx added. National â€" housing starts reach 18â€"month high Urban starts in Ontario rose to 44,000 units (SAAR) in June from 41,200 units in May due to higher starts of multiple units. The gains, mainly in semiâ€"detached row housing and condominium apartment units, likely denote a shift of firstâ€"time buyers towards products that remain affordable even with higher mortgage interest rates. Lower starts of singleâ€"detached units were recorded. In British Columbia, urban starts rebounded sharply in June to 37,100 units (SAAR), up from 30,000 units in May. The performance was mainly due to a recovery in apartment condominium starts, back to levels seen in 1993 and early 1994. Starts of singleâ€"detached dwellings only inched up. Urban starts fell in Quebec due to 29,800 units (SAAR) from 36,100 in May. Following a fairly active new construction season earlier in the spring, all segments of the market were hit by June‘s decline. It was moderate for singleâ€"detached starts but more sizable for all types of multiple units. Montreal accounted for a large part of the decline. In the Prairie region, urban starts rose to a rate of 19,4000 units (SAAR) in June, up from 16,800 units in May. The gain was mainly in Alberta where starts rose to an annual rate of 15,700 units (SAAR), up from 12,900 the month before, as a result of higher condominium starts in Edmonton. Starts also increased in Manitoba, reaching 2,500 units (SAAR), up from 2,100 units the month before. In Saskatchewan, construcâ€" tion activity fell back from 1,800 units (SAAR) in May, to 1,200 in June. Urban starts jumped to 9,900 units (SAAR) in the Atlantic region, up from 7,900 units the month before. Building activity rose in Nova Scotia (to 3,900 units) and New Brunswick (to 3,400 units) while it was lower in Newfoundland (to 2,100 units) and Prince Edward Island (to 500 units). * The SAAR is a monthly figure that is adjusted to remove normal seasonal variaâ€" tion and multiplied by 12 to reflect annual levels. AIM HIGHER... Call one of our Sales Reprosentauvw | 0 TT 111111 before you list! $159,900. Beautifully maintained upgraded, this 3â€"bdrm. suite looks out at a wondrous view including the Toronto skyline, lush trees Lake Ontario. Sunken liv. rm. with mantle gas fireâ€" place will please even the most discriminating. $359,000. Super visibility accessible loc. (cor. of Hwys. 5 25). Built in 1900, this 5â€"bdrm. charming home on 3/8 acre has been well mainâ€" tained for many years was the home office of the local vet. Site specifically zoned bed/brkfst. $189,900. Beautiful 2â€"bdrm. suite in soughtâ€"after complex. Upgrades throughout. 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MONICA RICHARDSON* 847â€"1087, 338â€"3737. $274,900. Lovely Merrick built home. French doors, main floor den. Inviting family room with walkout to yard pool. Family sized kitchen much more. RINA DiRISIO* 338â€"3737. @/AZ â€" @/ i4 2/ i 251 North Service Road West, Oakville *Sales Representative **Associate Broker Member of Oakville Toronto District Real Estate Boards $289,900. 1.94 acres backs onto Burlington gfimigfisf Mint condition. Great family home for seasons. MARLJA KOLESAR* 338â€"3737. $409,700, 1.94 acres backs onto Springs Golf Course. Fully renovated. Gracious

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