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Jobs, newcomers and stronger house prices are behind a surge in housing construction in the Edmonton region.0 k3 h( o O% t' x4 h
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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.7 f# ^ i: J- B
$ Z* p/ V: d6 F0 y+ p1 tThis July, 1,435 units were under construction compared to 1,034 units in July 2011.
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6 g2 q! r7 U% q. w6 Z b4 \+ PSo 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.# B6 [$ r1 B+ ?% w p; T- ~
, _/ U2 @. p/ m/ B' @“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.”* R" @* F9 R! V7 Z
! F( j* \8 n9 LThe 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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9 U( N1 K" @* I5 S! x/ H% L, K, mWithin the City of Edmonton, 341 houses were started, compared to 289 units in July 2011.
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4 D+ R9 I( |4 C) i) r5 eSo 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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% r7 d+ I/ a& S/ X* v5 E8 BMulti-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.( {& b& w) a: U
P( b) I! Z2 N4 z1 h3 K$ p2 aMulti-family housing starts in the Edmonton region so far this year reached 3,726 units, compared to 2,380 units started in 2011.+ W1 P9 R; k) R( a
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