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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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6 C! E2 _! q* {* S" v2 x3 `- `$ ]+ YHousing 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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1 ?9 i* \& D: {1 G8 b$ o; gThis July, 1,435 units were under construction compared to 1,034 units in July 2011.
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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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2 |2 f6 N; }1 p# i; S: {* k! Q“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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8 S& V) D t# b2 q: ?+ dThe capital region saw the construction of single-detached houses rise 20 per cent in July to 582 homes from a year earlier.
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5 @5 t0 m: H! `. |+ W5 z1 l# Y, aWithin the City of Edmonton, 341 houses were started, compared to 289 units in July 2011.: a V9 l% }( u" W, P
# A7 C6 Z) j# \2 o3 Z' V$ BSo far this year, 3,177 single-detached homes began construction in the region, 17 per cent over the same period last year.3 w; U% i0 |8 C0 n0 W: b$ A' I
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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.* S8 T2 ^. p: g* f5 o6 C) ^
7 j5 d& r+ u9 g7 ^! UMulti-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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