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Jobs, newcomers and stronger house prices are behind a surge in housing construction in the Edmonton region.5 x8 q6 s1 y& w; H! A
% { s3 w! `2 u0 i6 rHousing 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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* B: b5 E( v. j PThis July, 1,435 units were under construction compared to 1,034 units in July 2011.
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+ E- j. e- I* C7 F+ L! @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." n a; T( {% T1 T" P
, U# @6 f7 G, e“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.”
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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.9 Q' Y; C/ ]# ]
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Within the City of Edmonton, 341 houses were started, compared to 289 units in July 2011., G1 r# T: e. Q- e8 v% ^
s1 h. S( ~) \So far this year, 3,177 single-detached homes began construction in the region, 17 per cent over the same period last year.. p! V% d+ L: U! }' ^
/ P% e! X5 Y' W% |3 f0 X2 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." S! p5 S- n8 U y1 N9 D6 K
5 s: k$ ]5 D G `! ?7 r) ZMulti-family housing starts in the Edmonton region so far this year reached 3,726 units, compared to 2,380 units started in 2011.0 N# g& x m' f7 a' V# Z* J- Y0 `
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