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Jobs, newcomers and stronger house prices are behind a surge in housing construction in the Edmonton region.$ P# D; u+ h3 N4 w: O% t% L
; o0 X* z4 H- w; x& [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.( |* y$ E' F. }# L/ z5 V. Y9 ]& X1 u
: X! s5 E1 t: m' T% ^3 O* \( zSo 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.- f0 A" D! H, c# h
" o# t+ C6 C) w# I. g2 d# x“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.9 X- g# F) E4 t) U; t' y' V$ ^
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Within the City of Edmonton, 341 houses were started, compared to 289 units in July 2011.
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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.) n" l$ y- w" ~4 |2 X6 K+ c
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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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