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Jobs, newcomers and stronger house prices are behind a surge in housing construction in the Edmonton region.' K5 I' [7 {, ]! \ X B
' N! E+ u2 a; A+ aHousing 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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- w5 }& }; g& zThis 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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( l1 H/ D* [% q' J' O/ S( ^“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.”) ~, e( K" j* N1 r3 ?
! `# q7 y* [+ IThe capital region saw the construction of single-detached houses rise 20 per cent in July to 582 homes from a year earlier.) ]* ?* j' N. l& W
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Within the City of Edmonton, 341 houses were started, compared to 289 units in July 2011." j% B! v( T$ y+ Z! n
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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.# M8 c; L- O1 { r# |" w& d
, x0 i# [) S8 W+ l% cMulti-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.* U" h2 A( m1 |) A# `2 S9 g! \
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Multi-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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