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Jobs, newcomers and stronger house prices are behind a surge in housing construction in the Edmonton region." w5 S k q4 ~* ~0 `
7 O/ i( i& g+ ^( y6 S+ \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 N* \5 ?7 d$ {- T: I e
: x) y( I( A% IThis July, 1,435 units were under construction compared to 1,034 units in July 2011.* n) w8 l" x$ O
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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.
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: N& _5 k1 q8 n“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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1 _: n8 H6 q8 M. X& ?The capital region saw the construction of single-detached houses rise 20 per cent in July to 582 homes from a year earlier.: ]/ f1 e5 \5 S2 k1 u
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Within the City of Edmonton, 341 houses were started, compared to 289 units in July 2011.
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0 F+ a* K. ^; }& c' JSo 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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2 c: g) L2 X0 @9 B- IMulti-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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j @" _. P! [6 D9 f3 O& PMulti-family housing starts in the Edmonton region so far this year reached 3,726 units, compared to 2,380 units started in 2011.* t/ b* j5 ~2 a5 c3 I0 @& M
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