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APARTMENTS BOOST HOUSING STARTS IN SEPTEMBER. m" g2 P6 I, Z- E4 H
. v0 ~- p( q4 l8 pEdmonton, October 9, 2007 – A surge in apartment starts across Greater Edmonton helped counter a+ H# r, Z$ p2 c; i( g$ m. f
continued slowdown in new single-detached activity during September. According to preliminary figures released
4 b) U5 W& f1 Ntoday by Canada Mortgage and Housing Corporation (CMHC), housing starts within the Edmonton Census" t6 l0 s. F! l5 u' Y7 Q2 B
Metropolitan Area (CMA) increased by 40.3 per cent from September 2006 to 1,978 units. So far this year, total
) M+ N# B6 o9 G5 i: K" C8 `' x+ ohousing starts have increased by 5.7 per cent over the numbers reported after three quarters of 2006.
6 E9 C( ]# {% c. qFollowing a 37 per cent year-over-year increase in August, multiple dwelling starts in September jumped by 150 per
: p E8 y' V W5 X7 F% c, Z% J, H8 Icent over the same month last year to 1,306 units. The majority of September’s new multiples were condominium
- ~8 I$ u% T! Q" tapartments located in Edmonton, Spruce Grove, Strathcona County and Beaumont. For the year-to-date, multiple0 K( Q( ?% z$ d& ]8 C
unit starts across Metro have increased by one third over activity levels reported in the first nine months of 2006.
7 I# J4 ?; q; _7 S“Multi-unit builders in the CMA are poised to exceed 6,000 units for the first time since 1982,” noted Richard
* a/ H- I& o$ T7 T) KGoatcher, CMHC’s Senior Market Analyst for Edmonton.
3 `5 Q; q5 b( O" B! X2 L% S* ]2 f3 x" d5 ?
For the third month in a row, single-detached starts in September fell below last year’s record-setting pace. Builders
# Y" y- Q& [4 ?poured foundations for 672 units, representing a 24 per cent decline from September 2006. Single starts dropped by
7 G S7 }* Q3 g* C0 G5 N18.5 per cent in the third quarter compared with the number of units started in July through September of 2006., _( C4 O$ V/ B' ~+ k' g
“Although single starts for the year-to-date are off by 11 per cent compared with 2006, the single-detached house7 `: _$ ^; x4 t! v8 K) l
building industry is still expected to achieve the second best year on record,” added Goatcher.
% v1 e# ~% ^6 {Total housing starts in Alberta’s seven largest cities increased year-over-year in September by 33 per cent to 4,1349 q8 h4 _3 I3 w: b+ j8 z
units. A major upswing in multiple dwelling units compensated for a combined 23 per cent pull-back in singledetached
# s4 o# B7 S2 h% M) Mstarts. Six of the seven cities reported gains over September of last year, with only Medicine Hat
) c. E9 J! }" ^reporting a decline in total housing starts. |
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