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Jobs, newcomers and stronger house prices are behind a surge in housing construction in the Edmonton region." {- H4 T% ~6 N% W8 {
' E9 t% p! y2 W- ?! @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.6 ]3 ~; x( c G
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This July, 1,435 units were under construction compared to 1,034 units in July 2011.
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" p/ F9 s& @- o/ A3 ISo 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.* r2 b) t# s0 L* ~$ h
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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.”# S) o: r5 s- |! @2 a$ `
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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 P8 ~6 S: s2 b% z6 f
+ R. b) f, L/ h: w7 S3 Z# lWithin the City of Edmonton, 341 houses were started, compared to 289 units in July 2011.
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& i- ]" C: E6 m0 k/ U/ uSo far this year, 3,177 single-detached homes began construction in the region, 17 per cent over the same period last year.( [, s: A+ S# u8 _' }3 U6 C
. j5 E! W9 j, d" KMulti-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.# R- m# ?: g2 d9 q
/ s$ E0 r/ O4 b: z' T# ^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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