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Jobs, newcomers and stronger house prices are behind a surge in housing construction in the Edmonton region.2 G7 t* i% X% H; N
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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.( l+ K I1 C: r: ]! S
6 p$ z2 ]8 }9 \4 t# q6 _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.# t: Q# |( s+ G7 c- G
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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.”
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1 o y5 K. ?: rThe capital region saw the construction of single-detached houses rise 20 per cent in July to 582 homes from a year earlier.7 T9 B6 Y. r( k) z6 u* @+ w
3 u" ?1 s [" o, e2 G5 U& K% KWithin the City of Edmonton, 341 houses were started, compared to 289 units in July 2011.
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: Q! t5 @# L6 j) c) Y; m3 k* YSo 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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9 `4 w6 Y( y5 t: @1 V) h$ I( ~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.
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