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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.1 j' [, v3 z$ S, P* z% }8 u
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This July, 1,435 units were under construction compared to 1,034 units in July 2011.
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& t# G! e2 m- z% n7 ?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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! I2 E3 [1 d! w" n& x& P& b“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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The capital region saw the construction of single-detached houses rise 20 per cent in July to 582 homes from a year earlier.3 c1 E, n% c4 L. h7 G
; w, W# z. J; {0 y2 t* L+ AWithin the City of Edmonton, 341 houses were started, compared to 289 units in July 2011.
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$ a: j+ {9 Y- u$ s" lSo far this year, 3,177 single-detached homes began construction in the region, 17 per cent over the same period last year.4 i% [+ R& }" o& ` X. b* d
# r* k% N$ _* u' w- i3 ^# I, dMulti-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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K: P" P; ]$ z# l# i* }Multi-family housing starts in the Edmonton region so far this year reached 3,726 units, compared to 2,380 units started in 2011." C8 c A; s7 _' W" w0 r( ^2 D: D
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