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Jobs, newcomers and stronger house prices are behind a surge in housing construction in the Edmonton region.$ `) J3 P0 @2 \( n# R9 w
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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.& d7 f( x3 s, Z$ V
5 B4 |2 E9 S! X" o3 a d5 JSo 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.
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6 Q& Y. N+ j$ Q3 J“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.”# F% `, r$ L4 {5 D! q7 F1 B
# e0 E- H& T& K0 s/ ]! B) D9 H/ yThe capital region saw the construction of single-detached houses rise 20 per cent in July to 582 homes from a year earlier.. t- D+ Z- d. K& Z" {% B5 O
1 y8 W$ @+ U) O; j5 T* FWithin the City of Edmonton, 341 houses were started, compared to 289 units in July 2011.
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: J! w9 _. j4 j# t5 n& rSo 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.2 E6 F( y0 s7 k; u: t7 \& k
2 l0 L* B1 U' L) j; P( F* s; ?! {6 GMulti-family housing starts in the Edmonton region so far this year reached 3,726 units, compared to 2,380 units started in 2011.( O: e) w# v8 T& O/ O) L9 _- D+ P
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