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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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# f4 V( Z; C' K+ cHousing 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.! e7 ?* S! @5 l0 U0 J
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This July, 1,435 units were under construction compared to 1,034 units in July 2011.& ] Y! `- c) n: |% x* W1 B8 a7 J
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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.& {) \( ?. M$ V" Q
! a" M3 a5 f7 U+ U“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.”0 X+ D } r- a# H/ i) _, n5 U
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The capital region saw the construction of single-detached houses rise 20 per cent in July to 582 homes from a year earlier.5 C5 d5 l! O `* P6 {
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Within the City of Edmonton, 341 houses were started, compared to 289 units in July 2011.
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So far this year, 3,177 single-detached homes began construction in the region, 17 per cent over the same period last year.4 B. ^7 E8 v( |" Y6 n' p
1 ]: V# s/ R% u' H2 C( b! r1 QMulti-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.
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8 f7 y; d, M- l" A v+ QMulti-family housing starts in the Edmonton region so far this year reached 3,726 units, compared to 2,380 units started in 2011.
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