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Jobs, newcomers and stronger house prices are behind a surge in housing construction in the Edmonton region.% r% n' A8 ^" T8 \, p6 ~+ F
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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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2 M' q g' j9 H5 W* r" AThis July, 1,435 units were under construction compared to 1,034 units in July 2011.- I" Q: s( [) |: Z# q6 j
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So 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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“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.”% M+ o6 x4 h& B- c- S
1 T0 S% |! o4 xThe capital region saw the construction of single-detached houses rise 20 per cent in July to 582 homes from a year earlier.6 U% R* @: X/ N* \; Q
d! P7 ?; a& A; L3 D p! BWithin 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.5 T2 R C- ?/ E( L& t: O% a: g
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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.7 z5 h$ h6 e* O% O2 H# K
8 ~, O6 g6 T' Z+ [" ]3 u) FMulti-family housing starts in the Edmonton region so far this year reached 3,726 units, compared to 2,380 units started in 2011.) Y, A% x, q: B0 _# j
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