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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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. K0 m, T( Y A9 V) k2 L: lHousing 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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$ Z+ P3 V6 L+ Y# OThis 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.' q0 O6 o6 I* f! d# I. ]5 j
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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.”6 [ K5 h$ q/ w, o
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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. M' f( y* F3 _ D k7 M
! ?6 U$ w0 c* ^% @- r0 M _# `6 ?7 vWithin 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.' j* c' @, }" U! P6 Q0 }
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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.
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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.# [8 P4 `) n2 g! ^
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