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Jobs, newcomers and stronger house prices are behind a surge in housing construction in the Edmonton region.3 T2 [& c, u: P1 x9 N
3 z" |3 ?' y# n' [) \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 2011.0 U4 t7 l) ~- e$ U
! X$ {) j' ~) i; u3 }4 m8 l- sSo 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.' W2 o( D U }' z. `0 x! D# M3 w' s
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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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2 V' ?( L7 x0 `7 M% sThe 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.( l+ W7 B" ~4 x+ T3 X, W- `
2 I* u$ J' S$ E6 p" QSo far this year, 3,177 single-detached homes began construction in the region, 17 per cent over the same period last year.+ X5 Y; d: ^6 V! k6 ?7 r
, Y& l3 e# Q! M; q. ]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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Multi-family housing starts in the Edmonton region so far this year reached 3,726 units, compared to 2,380 units started in 2011.6 f) V( i+ r: x6 e8 }1 J$ B
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