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Jobs, newcomers and stronger house prices are behind a surge in housing construction in the Edmonton region.$ D4 A# M% R+ K3 |5 P
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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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This July, 1,435 units were under construction compared to 1,034 units in July 2011.
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6 \& Z `# J: l& ~* W7 t" GSo 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 K/ Y) g: B% |5 o/ O
" h# C( Q* B! ?4 ?“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.”" H$ J. s8 V9 s4 A2 k
2 L- h) `* u4 B. O1 |8 f. p/ XThe capital region saw the construction of single-detached houses rise 20 per cent in July to 582 homes from a year earlier.% |& w( [+ f$ @) w3 m
0 j" Y% F" i+ G; [/ g8 [+ A u6 [Within the City of Edmonton, 341 houses were started, compared to 289 units in July 2011.: X' E- M* Y. |, C$ ^3 l
' ^9 Z3 N" M2 q9 GSo far this year, 3,177 single-detached homes began construction in the region, 17 per cent over the same period last year.* ]) `* M4 g0 z2 U$ V
/ a- M* D: p5 k2 uMulti-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 M. ~' N! Y" dMulti-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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