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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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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.* ~$ v0 C3 Q7 b R, {! ~
7 k2 w1 L; x' m5 {: 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.: _# N+ i! T( T1 u; i" D9 s6 n1 x
$ c5 v, Y" W$ g7 y1 T! j, K“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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5 H/ @0 P, @' N; b8 [% mThe capital region saw the construction of single-detached houses rise 20 per cent in July to 582 homes from a year earlier.
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( v* U0 K& Y1 D9 ^1 ]( Z& eWithin the City of Edmonton, 341 houses were started, compared to 289 units in July 2011.
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: R' M( o- @" Y% 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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6 z g2 ^1 D6 jMulti-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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5 t. ?: w8 Z; @5 |1 O* CMulti-family housing starts in the Edmonton region so far this year reached 3,726 units, compared to 2,380 units started in 2011.
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