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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.
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) H Z- k [- e( C$ I. h5 C" F- s9 x; @This July, 1,435 units were under construction compared to 1,034 units in July 2011.
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2 K, }& U$ x8 O9 ASo 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.& A% [" M C; @) e! p% i
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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.”; p) @# z/ G& J" Y5 j2 x* q9 ?; Z
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The capital region saw the construction of single-detached houses rise 20 per cent in July to 582 homes from a year earlier.! ]5 R5 O/ g% f4 r9 S3 `9 p
& i2 Z- D2 e$ h0 V; uWithin the City of Edmonton, 341 houses were started, compared to 289 units in July 2011.
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! Z1 o- l- M5 X& R0 TSo far this year, 3,177 single-detached homes began construction in the region, 17 per cent over the same period last year.9 l+ \; U" |2 F; F7 T
) ~" `" F* k9 h, B2 d. O! E3 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.
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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.
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