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Jobs, newcomers and stronger house prices are behind a surge in housing construction in the Edmonton region.$ [- Z& {, ~9 q+ Q( a5 y
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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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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., Z2 u# A& g% k( b- ~* J! |* m
" ]8 Y6 G5 f( m) d“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.”" ~: Y9 N$ g: ]6 Z* i% _" \2 L- V
$ e% U" q& o! Y8 Y% Z+ U9 sThe 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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( a. t4 d' C/ p8 g8 B! oWithin the City of Edmonton, 341 houses were started, compared to 289 units in July 2011.% Q2 a1 o( ]$ Y7 p# c K
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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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1 C. R3 g. U" C$ Y3 }7 PMulti-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.) _$ z( D1 ?" _
' d/ n: L% ^& ~' pMulti-family housing starts in the Edmonton region so far this year reached 3,726 units, compared to 2,380 units started in 2011.: c/ L% P! q* T% L6 ` ? q
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