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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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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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6 B7 U. K/ D- A: N& HThis 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.( t; c: i2 T# I3 m; T5 G* 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.”. U/ g3 _% I$ w* l* h
/ |. Y _- c8 v, F. ~4 DThe capital region saw the construction of single-detached houses rise 20 per cent in July to 582 homes from a year earlier.- Z6 C1 v; x* j
% \2 t# _, Z' `7 _# z- PWithin the City of Edmonton, 341 houses were started, compared to 289 units in July 2011.( C8 t8 y- Y6 b0 K) n
4 R/ a, B' \- u( w$ y9 A) n) S4 CSo far this year, 3,177 single-detached homes began construction in the region, 17 per cent over the same period last year., r1 T# f! E9 D$ B7 C
( w7 \+ M, o2 i3 S4 |( D8 ]! k% m9 d0 eMulti-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.8 l5 F9 B2 {. ?5 X8 a* K
6 z/ G+ Z9 e1 x0 ~5 z8 g1 BMulti-family housing starts in the Edmonton region so far this year reached 3,726 units, compared to 2,380 units started in 2011./ c$ ^6 G. k' ~
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