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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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4 C3 t3 |& {4 h3 t" [* 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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% U n; [# F2 v1 H# HThis July, 1,435 units were under construction compared to 1,034 units in July 2011.
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$ Z% N+ j1 L1 v7 B( w* l6 q5 nSo 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 2011.7 ]9 R# f0 |2 T, A1 j8 ~) l
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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.”7 b* l6 s) l6 K- O
. X3 S3 ?; z2 R$ S EThe capital region saw the construction of single-detached houses rise 20 per cent in July to 582 homes from a year earlier.
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0 W' }1 h# s; P' B, ?Within the City of Edmonton, 341 houses were started, compared to 289 units in July 2011.
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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.* ]& H+ U4 W4 f! q2 A( m
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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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' f6 l9 g2 B: j" n' KMulti-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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