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Jobs, newcomers and stronger house prices are behind a surge in housing construction in the Edmonton region.! U/ O% ~6 A8 T% R/ q
! |; ~% y8 Z4 [- p) pHousing 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.0 I0 y I( ]1 h' Y# \3 j: V1 M. `
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This July, 1,435 units were under construction compared to 1,034 units in July 2011.
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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.
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1 B8 I* h: m& H5 V* a8 s6 @“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.”* `5 M, Q+ R: k' V8 ~( g& o
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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.
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) l% {! [/ x" o- NWithin the City of Edmonton, 341 houses were started, compared to 289 units in July 2011.
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! v9 v7 D0 w5 T) Y$ ^/ o% r3 qSo far this year, 3,177 single-detached homes began construction in the region, 17 per cent over the same period last year.& n) P* u |+ {. w. h$ M
/ F7 h7 i2 k6 u2 VMulti-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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Multi-family housing starts in the Edmonton region so far this year reached 3,726 units, compared to 2,380 units started in 2011.9 F( n+ V/ w6 q
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