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Jobs, newcomers and stronger house prices are behind a surge in housing construction in the Edmonton region.
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$ F8 X; U+ B/ i5 W' W3 h2 }Housing starts in the Edmonton metropolitan area jumped 40 per cent last month over July 2011, according to preliminary figures released Thursday by Canada Mortgage and Housing Corporation.
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: @7 @" L2 F1 u. c! h0 H) w: EThis July, 1,435 units were under construction compared to 1,034 units in July 2011.( F; g) x' l% _
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So far this year, housing starts totalled 6,903 units in the Edmonton metropolitan area, up from 5,085 units recorded in the first seven months of 2011.0 h" f/ v2 E o$ Y7 k# ~8 }4 m
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“Housing starts in Edmonton continue to be supported by employment growth and net migration," said David Lan, CMHC’s Senior Market Analyst for Edmonton, in a press release. "A strengthening resale market also contributed to the higher level of housing starts in July.”$ ~/ s" Q) o- g+ T
2 i/ V o+ B) H+ C- ]The capital region saw the construction of single-detached houses rise 20 per cent in July to 582 homes from a year earlier.
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Within the City of Edmonton, 341 houses were started, compared to 289 units in July 2011./ H& u# g6 ]) S3 v$ X
/ I) ~1 I# V7 b5 f" A% zSo far this year, 3,177 single-detached homes began construction in the region, 17 per cent over the same period last year.. N) o7 B2 U: Y, s
" T; M# d7 P# z4 r: _8 G' N8 Z3 ]Multi-family starts, consisting of semi-detached units, row houses, and apartments, totalled 853 units in July, compared to 555 units a year earlier. Most — 89 per cent — were built in the City of Edmonton.; ?7 [- p7 w% o, N+ V S
+ f. ]9 D' Q- z: }" N2 O) nMulti-family housing starts in the Edmonton region so far this year reached 3,726 units, compared to 2,380 units started in 2011.3 g7 g' p" M9 M3 S- A
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