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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.) b5 Z, l- d. {- B+ Q; w% s3 }7 _
; T6 K. N0 b% O4 dThis July, 1,435 units were under construction compared to 1,034 units in July 2011.% {9 H, N% q) B3 m# E2 s
. }0 B | K. I, eSo 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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! h. C9 u9 @, D& r z“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.”4 S3 a3 }: o! M! F5 I: \" g- c
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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.: B9 Z/ Z8 F- F
3 A; P- ^7 E$ B' ]1 QWithin the City of Edmonton, 341 houses were started, compared to 289 units in July 2011.
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. l+ f: N' L+ P) A5 J/ |; xSo far this year, 3,177 single-detached homes began construction in the region, 17 per cent over the same period last year.4 N5 E9 C: B8 c& s% Y# y9 }, m
# h, h* [' d; S( w* W& S7 x- qMulti-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.! R. c0 n! x; f& d Y3 q
3 d; x+ i, ?4 {/ [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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