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Jobs, newcomers and stronger house prices are behind a surge in housing construction in the Edmonton region.4 K8 ~5 o' E5 O
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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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This July, 1,435 units were under construction compared to 1,034 units in July 2011.
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) u U6 v' z6 f' T/ t$ SSo 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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) U: [3 q5 I! c$ F. P. a! ]' `“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.”. d# D; g6 P& N: `/ L
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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.7 }9 X& i9 G* U7 b+ ^
/ w( ~2 O1 Q6 C$ q% s8 f' `Within the City of Edmonton, 341 houses were started, compared to 289 units in July 2011.* A! C4 r0 v0 e B! p9 q% b
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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.. ^& f; p6 A' @9 u3 t
5 n0 K; w" ~+ k. S4 u0 \0 qMulti-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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b u9 O; W; i3 |/ Q/ VMulti-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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