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Jobs, newcomers and stronger house prices are behind a surge in housing construction in the Edmonton region.- c) ?" _& q+ I+ s6 [
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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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+ K) l1 l% U2 p& [2 l2 T# d5 y8 Q. hThis July, 1,435 units were under construction compared to 1,034 units in July 2011.: ~4 |, z4 e% ^" d, X6 x( `3 A" y
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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.
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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.”! Z& c- f* s) V0 E# \+ [
& q0 P* m& p$ m! y2 `8 ?The capital region saw the construction of single-detached houses rise 20 per cent in July to 582 homes from a year earlier.$ _( R- @1 [7 q1 W
/ K! ^. \1 Y' S* _Within the City of Edmonton, 341 houses were started, compared to 289 units in July 2011.5 t( T$ c' }5 o K
# N, V: u% P3 M& pSo 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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4 B# _7 y9 d% m zMulti-family housing starts in the Edmonton region so far this year reached 3,726 units, compared to 2,380 units started in 2011.3 r' |* d7 ?" i( J( |: r) x
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