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APARTMENTS BOOST HOUSING STARTS IN SEPTEMBER: B4 f% z( R$ G; j, a( q. ?
! T: f8 K; e& ^( gEdmonton, October 9, 2007 – A surge in apartment starts across Greater Edmonton helped counter a
6 V# |! e( c8 f+ A5 H/ r* K! s. _continued slowdown in new single-detached activity during September. According to preliminary figures released
( e2 z3 A& R, j2 V8 ?! k3 U, ?today by Canada Mortgage and Housing Corporation (CMHC), housing starts within the Edmonton Census; I3 H( ?8 u% d/ @- K* h
Metropolitan Area (CMA) increased by 40.3 per cent from September 2006 to 1,978 units. So far this year, total
& c- b9 w2 F& h1 ehousing starts have increased by 5.7 per cent over the numbers reported after three quarters of 2006.. \4 o# {. K" A3 u! Q
Following a 37 per cent year-over-year increase in August, multiple dwelling starts in September jumped by 150 per
+ F: i, i. ~9 O- ^& R5 l& z/ s7 hcent over the same month last year to 1,306 units. The majority of September’s new multiples were condominium
/ g7 w$ R3 c! Wapartments located in Edmonton, Spruce Grove, Strathcona County and Beaumont. For the year-to-date, multiple
7 C1 H) e% H: \; \unit starts across Metro have increased by one third over activity levels reported in the first nine months of 2006.
% h% d5 ^: f1 c+ |. X' o7 P( S; M“Multi-unit builders in the CMA are poised to exceed 6,000 units for the first time since 1982,” noted Richard* C8 @" ~, N, C& j/ W. V
Goatcher, CMHC’s Senior Market Analyst for Edmonton.7 ~- Y3 C, Y. c3 Y
' A# C. }& u- B+ XFor the third month in a row, single-detached starts in September fell below last year’s record-setting pace. Builders
' }& c- r: j; Z0 O; Spoured foundations for 672 units, representing a 24 per cent decline from September 2006. Single starts dropped by1 ~: k+ V4 i7 c
18.5 per cent in the third quarter compared with the number of units started in July through September of 2006.: P$ M+ V% Y# I- @9 `; A
“Although single starts for the year-to-date are off by 11 per cent compared with 2006, the single-detached house! I. P5 j4 ]9 g, } t ]" m7 @
building industry is still expected to achieve the second best year on record,” added Goatcher.
& E* g7 W# U. u0 |$ I: nTotal housing starts in Alberta’s seven largest cities increased year-over-year in September by 33 per cent to 4,1349 t; c4 j) M0 [1 W
units. A major upswing in multiple dwelling units compensated for a combined 23 per cent pull-back in singledetached
( H' {- H6 ~8 j) G; {% Mstarts. Six of the seven cities reported gains over September of last year, with only Medicine Hat8 b, f1 t5 P9 D2 L- v6 F$ S
reporting a decline in total housing starts. |
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