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Jobs, newcomers and stronger house prices are behind a surge in housing construction in the Edmonton region.0 H8 ^$ ]' {; J( _( O
, l; a) L4 d2 G$ a# gHousing 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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4 B7 y1 l" z9 S7 q' k9 h5 t- XThis July, 1,435 units were under construction compared to 1,034 units in July 2011.
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) i6 t/ N0 u7 H4 u) o' g8 c6 N1 \% bSo 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.”( S: T5 r, L6 H/ H" X
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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.+ Q' O$ f8 |$ O7 m
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Within the City of Edmonton, 341 houses were started, compared to 289 units in July 2011.
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9 O2 ]8 V; S) k1 [# q% OSo 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.
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5 u7 d4 v. V' R, uMulti-family housing starts in the Edmonton region so far this year reached 3,726 units, compared to 2,380 units started in 2011.+ T" x N' B9 b
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