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Jobs, newcomers and stronger house prices are behind a surge in housing construction in the Edmonton region., c- F$ u6 ?' B# A0 }
- G- _. ~! Z) H4 f+ T, F9 xHousing 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.5 s7 q; `, C* H. p, K+ c7 y
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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 2011.3 J% ]4 F( M% [; [
7 X& l$ @1 ]2 e1 I V0 ^% }& n; M5 C“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.”* M2 x' m2 N9 _6 `6 k
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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.
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. F* P1 a$ N' L& `8 A$ @Within the City of Edmonton, 341 houses were started, compared to 289 units in July 2011.6 S& r( v9 I1 P- _ }" G3 Z7 K
# G. j9 R0 _2 _So far this year, 3,177 single-detached homes began construction in the region, 17 per cent over the same period last year.1 @, v/ e/ _% X
* ]& t. u& M2 X) ?! z2 \) FMulti-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.* ?1 v! ?. l; Q/ Y
+ z3 m3 K: o( j# J! `( h4 XMulti-family housing starts in the Edmonton region so far this year reached 3,726 units, compared to 2,380 units started in 2011.( m( A- A: B8 z: y
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