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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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- K/ a( L! E9 t1 L3 Q0 o$ Q0 fHousing 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.; X' a/ c1 {: B6 n5 ^! |
6 Z$ x% l* Q4 `0 \This July, 1,435 units were under construction compared to 1,034 units in July 2011.4 y5 H/ D3 g$ n, _( ]
% G1 l; W: w6 K+ ^+ { w+ wSo 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." p& {4 z5 s* |0 ]. B5 A( y
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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.”
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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.% X5 b1 C! G/ l& [: L
, ?5 i! A6 q7 V3 d, @Within the City of Edmonton, 341 houses were started, compared to 289 units in July 2011.1 \& f: C1 I: X7 J5 t$ H _
$ \- _% S5 `( z& a; j+ F5 iSo 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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' P% |8 X7 A. G: Z& ^Multi-family housing starts in the Edmonton region so far this year reached 3,726 units, compared to 2,380 units started in 2011.1 P0 ~3 b2 x( ?0 c4 E7 B. P W9 M( A
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