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Jobs, newcomers and stronger house prices are behind a surge in housing construction in the Edmonton region.9 _8 B# B1 ? c1 d
; ^/ h" X) k! 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 {8 R+ X# I: G' i+ Y
2 i$ E4 m g5 ]4 t8 A8 CThis 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 2011.7 \ d( i# H* h8 G% O
) _# Y; v- T+ _( B' j& |2 w+ g“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.
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Within the City of Edmonton, 341 houses were started, compared to 289 units in July 2011.3 f, X) p9 a( r
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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.3 }% `* \, |/ w9 ~( D. I0 M, X) \
( D5 U {; u) V7 c9 a" ]* H+ @$ RMulti-family housing starts in the Edmonton region so far this year reached 3,726 units, compared to 2,380 units started in 2011.1 N6 ^9 H/ y( a2 V( {: i/ N' p
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