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Jobs, newcomers and stronger house prices are behind a surge in housing construction in the Edmonton region.% k- l+ [; r3 a! m0 I9 u3 R
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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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" F0 X, c- L( N* ?! d) d6 BThis July, 1,435 units were under construction compared to 1,034 units in July 2011.+ K' l- E7 s2 W8 q2 e: u# m
: M7 t$ @- `# iSo 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.: z1 B* Y ^, B9 V
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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.”: ^0 I% d+ N' z
7 v3 W% n6 V2 _ Q3 O" m, m2 _The capital region saw the construction of single-detached houses rise 20 per cent in July to 582 homes from a year earlier.+ G, O; g1 R) g# Y' X+ `+ P
2 U( u: G2 o0 v! \; ~& PWithin the City of Edmonton, 341 houses were started, compared to 289 units in July 2011.
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0 s0 M/ N" i7 x; Z, t ], cSo 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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0 O% ~' D3 i5 b# _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. c- B2 }! s T2 w, o# F& ]8 A6 B0 p
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