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Jobs, newcomers and stronger house prices are behind a surge in housing construction in the Edmonton region.3 g& \5 H$ D/ D$ o
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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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9 W% }6 L. e% g4 N( \! }. mThis July, 1,435 units were under construction compared to 1,034 units in July 2011.
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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.& h7 B0 a7 r* v9 ] ~3 T4 t6 o
8 T6 c1 j3 z) M“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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) D! F6 `8 c! u& {5 w* WThe capital region saw the construction of single-detached houses rise 20 per cent in July to 582 homes from a year earlier.! E( e3 g+ ]" a ^2 [5 }
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Within the City of Edmonton, 341 houses were started, compared to 289 units in July 2011.0 t* x+ L( o; X) f, I
7 I# g, i, R$ I1 T0 m+ oSo 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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8 b0 `" P3 k& b2 l1 rMulti-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.4 z; a. K7 c+ |- T$ k4 i
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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.* U) ~! {7 T( d) X; Q
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