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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.: ~0 D" h" o, g# T4 f
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This July, 1,435 units were under construction compared to 1,034 units in July 2011.
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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.! s7 {* _# E4 W1 G9 P9 N. [
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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.”& m. R) o! y3 `
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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.7 i6 m1 A2 d# S% v b2 h! x3 e
2 S) Q5 Q. k# uWithin the City of Edmonton, 341 houses were started, compared to 289 units in July 2011.
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So far this year, 3,177 single-detached homes began construction in the region, 17 per cent over the same period last year.1 U2 G" p2 @% t
2 M7 h& d7 W! S3 {: i' u8 qMulti-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.% ^6 n6 v/ \/ a; l O
# b4 o7 F2 B+ s+ XMulti-family housing starts in the Edmonton region so far this year reached 3,726 units, compared to 2,380 units started in 2011.4 p7 s& l z7 E$ s; J* [' D
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