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Edmonton housing starts fall almost 75 per cent

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发表于 2008-12-8 11:49 | 显示全部楼层 |阅读模式
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EDMONTON — The number of housing starts in the Edmonton region for November tumbled 74 per cent from the same time last year, said the Canada Mortgage and Housing Corporation.
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Construction began on only 279 homes during the month, according to preliminary figures released today.
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For the year to date, housing activity has fallen by 56 per cent compared to the first 11 months last year.
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8 k* h0 P; I  U! ~, A“This comes despite a robust local economy that is showing impressive employment and income growth,” said senior market analyst Richard Goatcher.
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/ j; t$ H7 d- M7 u3 x9 x“The home building industry has been impacted by a slowdown in net migration into the province since mid-2007 and concerns locally about elevated new and existing home inventories.”5 i$ a2 j5 V8 [0 N7 ~+ Z* V& T; _

4 f- S: s1 G/ J: L* a, a. NSingle-detached starts in the Edmonton census metropolitan area fell 52 per cent year-over-year to 224 units in November.
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Multiple-dwelling starts fell off even harder, by 91 per cent from November 2007 to 55 units.( h* n/ B( `2 t: y4 z7 l  q% D7 e) e
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“The high volume of units still in progress suggests that further reductions are warranted in the coming year,” the CMHC said in a release.
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% F3 x0 G2 U7 d# v3 ]- kAcross Alberta, total housing starts in the seven largest cities dropped by 49 per cent year-over-year despite increased building in Wood Buffalo and Lethbridge.
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