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Jobs, newcomers and stronger house prices are behind a surge in housing construction in the Edmonton region.6 E# n- e; T- A- H, u
$ A& t, w/ r0 ~9 ?0 ]6 ~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.3 z) q! _& L/ N. |2 C% \
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This July, 1,435 units were under construction compared to 1,034 units in July 2011./ t! C; S$ p& q
& Q. m5 L! l* Z' }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.
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: S- j5 I+ E. {+ u/ B“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.”/ x* G# a+ |. q) c" ]
0 G- [' P9 _& `* a! IThe capital region saw the construction of single-detached houses rise 20 per cent in July to 582 homes from a year earlier.* `: L( h1 `7 I6 \% n0 P
" ~ E' | Q5 R- _: h1 D- |4 SWithin the City of Edmonton, 341 houses were started, compared to 289 units in July 2011.+ h4 k+ W( k0 }$ C, Y: a) r
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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.8 g8 m. l w! j) y/ }
7 p7 R6 x2 i3 mMulti-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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0 N& m9 c+ ?3 `! ^4 t3 T# E& ~Multi-family housing starts in the Edmonton region so far this year reached 3,726 units, compared to 2,380 units started in 2011.: q. w) o% T( |/ h$ U. \
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