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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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3 N8 J @0 s' t- b0 I2 cHousing 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.2 c2 a* E1 f' k- v/ g$ |9 K
) W5 z: ~$ B$ I8 Z2 XThis July, 1,435 units were under construction compared to 1,034 units in July 2011.
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* P4 c! m5 p, }- M: ^; jSo 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.”
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8 u; r7 {) Q5 ~# D# I. F7 b; vThe capital region saw the construction of single-detached houses rise 20 per cent in July to 582 homes from a year earlier., u1 l) s+ H* d, h: K
8 h$ H3 E/ k' X! L. }5 I9 FWithin the City of Edmonton, 341 houses were started, compared to 289 units in July 2011.7 i4 P/ s f+ k3 a8 I$ X
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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.
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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 _# K+ N! g9 N
$ ] t: I; w" Q, L& o LMulti-family housing starts in the Edmonton region so far this year reached 3,726 units, compared to 2,380 units started in 2011.) R, r8 D8 { q6 c z
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