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APARTMENTS BOOST HOUSING STARTS IN SEPTEMBER2 v2 y2 V0 c) i3 {* R3 E7 `: g+ z
7 T1 ^$ U& a# ~% { eEdmonton, October 9, 2007 – A surge in apartment starts across Greater Edmonton helped counter a
' ~$ C' B4 F- x w3 wcontinued slowdown in new single-detached activity during September. According to preliminary figures released0 n7 a, ]9 d3 s# I
today by Canada Mortgage and Housing Corporation (CMHC), housing starts within the Edmonton Census
) U2 U5 s _6 m9 K. H/ D2 R4 w4 @3 wMetropolitan Area (CMA) increased by 40.3 per cent from September 2006 to 1,978 units. So far this year, total" A. Y1 `+ Q1 S4 V) z+ ^' h
housing starts have increased by 5.7 per cent over the numbers reported after three quarters of 2006.
8 S0 M' Q% y( S* {) n# B7 X& A/ xFollowing a 37 per cent year-over-year increase in August, multiple dwelling starts in September jumped by 150 per
, i, g/ |, b5 z* y' f7 p' j7 Ucent over the same month last year to 1,306 units. The majority of September’s new multiples were condominium
) E7 n, w" x x; |: s# O/ qapartments located in Edmonton, Spruce Grove, Strathcona County and Beaumont. For the year-to-date, multiple+ ?0 |' |& m9 u x8 ~
unit starts across Metro have increased by one third over activity levels reported in the first nine months of 2006.& t' ?' z0 J) e' X9 P3 ~! z
“Multi-unit builders in the CMA are poised to exceed 6,000 units for the first time since 1982,” noted Richard4 }+ S% x8 N4 k% Y5 J6 N
Goatcher, CMHC’s Senior Market Analyst for Edmonton.
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For the third month in a row, single-detached starts in September fell below last year’s record-setting pace. Builders. g" D% B, D- I8 T3 Y; G
poured foundations for 672 units, representing a 24 per cent decline from September 2006. Single starts dropped by$ ^( _9 U3 W! x0 Y1 I
18.5 per cent in the third quarter compared with the number of units started in July through September of 2006.5 k! l9 X7 |- |& H
“Although single starts for the year-to-date are off by 11 per cent compared with 2006, the single-detached house
$ ?- L: S8 `2 X* V; cbuilding industry is still expected to achieve the second best year on record,” added Goatcher.* k5 ]0 m0 A9 ~3 P
Total housing starts in Alberta’s seven largest cities increased year-over-year in September by 33 per cent to 4,1344 s) g# m4 r6 F, {8 u
units. A major upswing in multiple dwelling units compensated for a combined 23 per cent pull-back in singledetached
; K2 \- E9 A5 f) G3 hstarts. Six of the seven cities reported gains over September of last year, with only Medicine Hat' i, r" h: r' j! F+ t4 \" _( x
reporting a decline in total housing starts. |
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