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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.# t, m- h1 p1 x; ]. E
+ `& u$ y, m3 Z. t) dThis July, 1,435 units were under construction compared to 1,034 units in July 2011.
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5 k4 a& t) B8 A! w" L2 eSo 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. ^ ^) W) B4 S3 o) m5 G6 h
; h* @9 O8 g- N; W: U“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.”" V |/ r6 F& B. ^* l2 U& v5 A/ x: ?% X/ T
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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.& p1 `: w# z! r2 Y
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Within the City of Edmonton, 341 houses were started, compared to 289 units in July 2011.
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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.9 k/ l% T; d$ w: h/ p8 A7 x
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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.$ I% @& @! }4 d, X) p- a0 T$ b
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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.& T* r0 A, a' @# `2 `) u
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