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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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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.' Q" i1 }1 }7 x w9 Q5 S
6 Q: C& J% g6 ^2 H8 _This July, 1,435 units were under construction compared to 1,034 units in July 2011.
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i! V' A+ i/ V& |" b; K( a: ~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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# ?4 a1 \! p0 \! A+ |“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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/ D) `: U1 \3 e) ^# m) C% ]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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8 y d! I* g0 ]1 }; N: G; BWithin the City of Edmonton, 341 houses were started, compared to 289 units in July 2011.
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5 A, h2 {! u2 Z YSo far this year, 3,177 single-detached homes began construction in the region, 17 per cent over the same period last year. k$ a& q* r# W2 R7 g; V
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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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9 Y& |* x/ L, Y/ Y1 Q" ^Multi-family housing starts in the Edmonton region so far this year reached 3,726 units, compared to 2,380 units started in 2011.- U! e2 n7 y& J) M+ B# q
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