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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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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.
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! q- _. U& v7 t8 {6 |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.
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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.”* d) V3 s( t: m2 n1 K
: a( f- J& r* rThe capital region saw the construction of single-detached houses rise 20 per cent in July to 582 homes from a year earlier.* S A3 L+ c& h- x: n, e
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Within the City of Edmonton, 341 houses were started, compared to 289 units in July 2011.- r. F y) H" g/ h# d" N( O+ Y t
0 r8 P0 ~4 s5 a3 J! R- dSo 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.& F/ r' l8 ]* D/ H& {9 `
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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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