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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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& p/ T4 g) Z1 K; x9 ?6 vHousing 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.5 l$ b9 R& J7 [3 D! U- s$ R
* z9 T- ]0 I6 C% G3 l0 oThis July, 1,435 units were under construction compared to 1,034 units in July 2011.
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# H2 Z" [. }' q& JSo 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 2011.4 |- n3 p- b, |8 z9 M5 f
/ Z7 g8 a1 S& w“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.”
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% f2 A. G1 W5 O1 }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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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.! ?& t) q: d( g4 b+ @
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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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! d3 A7 Z: Y. yMulti-family housing starts in the Edmonton region so far this year reached 3,726 units, compared to 2,380 units started in 2011.1 Z4 u# C" Y: p8 c8 s( }0 @
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