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Jobs, newcomers and stronger house prices are behind a surge in housing construction in the Edmonton region.: ~( }# k" M# a5 k/ b0 [4 W, E
8 d+ e' ?( F0 O9 l' wHousing 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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, ?) F/ [8 F% aThis July, 1,435 units were under construction compared to 1,034 units in July 2011.9 J8 u; E( D0 }& ?& y8 H
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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.% P9 j/ ?: `/ @3 {
7 @2 x# N3 U# W* R“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.”8 b: O; y- {$ v3 s$ ^
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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.5 N# E- ?! I& x
; J' ^: H% F8 k/ ]; XWithin the City of Edmonton, 341 houses were started, compared to 289 units in July 2011.2 W! w8 X0 |, X8 w& y5 K; v1 J
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So far this year, 3,177 single-detached homes began construction in the region, 17 per cent over the same period last year.+ K+ u3 }9 T6 w( N% [: _6 q4 x
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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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Multi-family housing starts in the Edmonton region so far this year reached 3,726 units, compared to 2,380 units started in 2011., w9 e7 b) `4 O
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