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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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2 a: x" d6 Z4 PHousing 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.4 {8 i1 x) k$ V) {# ^8 f
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This July, 1,435 units were under construction compared to 1,034 units in July 2011.- |5 D& ~& S7 K- D7 L: q# ^
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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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+ U2 A% L' X; N/ F“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.”; K8 d% ?5 c0 x: o7 D" `) P/ v
" p. v2 K h$ ?" C: i# s& D' tThe capital region saw the construction of single-detached houses rise 20 per cent in July to 582 homes from a year earlier.9 m+ d) g" u$ B, k0 `
, O0 O( I9 r) i- h" R. QWithin 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.
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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.
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3 Y, L2 y I' A1 |Multi-family housing starts in the Edmonton region so far this year reached 3,726 units, compared to 2,380 units started in 2011./ z! I) Y" r* `$ z3 `( P; V7 _
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