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Jobs, newcomers and stronger house prices are behind a surge in housing construction in the Edmonton region.4 N3 S; |2 ^# V6 H
4 `2 L+ R) p9 _, o3 }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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This July, 1,435 units were under construction compared to 1,034 units in July 2011.
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7 \7 Z" P2 F* C# B$ `5 USo 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.% r" L# p9 F+ [- q
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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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The 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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Within the City of Edmonton, 341 houses were started, compared to 289 units in July 2011.6 l8 E+ Y$ g: g ]3 C$ ]9 y
" v# P3 @4 H) R7 l* F3 PSo 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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t& w9 r C( ^. t2 MMulti-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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" I( Y" g% F" u6 |* zMulti-family housing starts in the Edmonton region so far this year reached 3,726 units, compared to 2,380 units started in 2011.) ~8 J0 A5 N& e# y6 d7 z a Z
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