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Jobs, newcomers and stronger house prices are behind a surge in housing construction in the Edmonton region.# h q3 g) f' S; d$ ?
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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$ M6 r8 WThis July, 1,435 units were under construction compared to 1,034 units in July 2011.' c# G ?" Y. G: {, O
! Y9 K* @/ L( ^1 B* r5 l: FSo 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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0 @, i% U1 W1 y, Q, X$ }“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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The capital region saw the construction of single-detached houses rise 20 per cent in July to 582 homes from a year earlier.6 t2 V! j7 D! K6 h7 }& o
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Within the City of Edmonton, 341 houses were started, compared to 289 units in July 2011.% ]: z. U7 T9 h0 q! c2 o% y# j+ `
- R7 a. x# y( ]/ BSo 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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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.% U1 H5 l; W( U" h4 _5 ?% x! s
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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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