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Jobs, newcomers and stronger house prices are behind a surge in housing construction in the Edmonton region.# a& a/ M. h; F2 N) b
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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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( X8 H" B2 u0 @* F. r3 h7 MThis July, 1,435 units were under construction compared to 1,034 units in July 2011.2 A [/ a6 W& |: V
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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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“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.”1 e4 F0 O& v! _1 p- k, n
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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.+ M& F" F. j0 Q% v: y; s
) j5 I; R6 B2 WWithin the City of Edmonton, 341 houses were started, compared to 289 units in July 2011.
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5 r" P( e" y0 Y7 P) TSo far this year, 3,177 single-detached homes began construction in the region, 17 per cent over the same period last year.& h5 g( A5 D0 ^% m) A' \
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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." z4 ]( t3 w: ?! l$ F
# S, ^' Y/ I, y7 \ \ a- F3 g2 [Multi-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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