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Jobs, newcomers and stronger house prices are behind a surge in housing construction in the Edmonton region.5 `4 [5 ?% ]) [% J' T* D! a3 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.' X% v- g) k N& [. l* k
( O( `9 n* w2 [1 A- V9 b, Z6 M7 R9 MThis July, 1,435 units were under construction compared to 1,034 units in July 2011.
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. r2 }8 A5 W2 L, I( K* T3 b& cSo 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 [% u. w$ ]* C* [
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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.”6 W2 O' Q3 n4 W6 g* 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.
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2 I9 q& B+ L6 U+ k0 ?- f* I3 HWithin the City of Edmonton, 341 houses were started, compared to 289 units in July 2011.6 Z; B* R& U. B4 {
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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.
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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.
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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.( }: W1 J5 |. H# g% Q6 q: i
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