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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.3 S& w& k7 G9 k0 [4 I
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This July, 1,435 units were under construction compared to 1,034 units in July 2011.( N+ L0 Z1 n. B0 [ J2 Q3 Q
4 j5 w; v, t- R8 o8 KSo 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.# E* @8 E k* {
( N" |8 U, l5 q* F“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.
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( ?9 x9 e7 d/ f, x& C$ }8 jSo 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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# s$ n5 {/ k* j+ [$ X4 {6 N% zMulti-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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* J2 ]4 f' o3 \1 K! VMulti-family housing starts in the Edmonton region so far this year reached 3,726 units, compared to 2,380 units started in 2011.* q4 H9 m% o: z" I
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