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Jobs, newcomers and stronger house prices are behind a surge in housing construction in the Edmonton region." W" u6 q* i1 t4 S( q% L5 }- h
) D& c N$ R' HHousing 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.- K/ B, i x6 {/ G# \/ G& _
& a& ~0 [ |2 {$ lSo 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." X$ d7 {) s2 r- g2 x' v. ~/ x
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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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: d( U( r; J8 O5 \) d8 Q# KThe capital region saw the construction of single-detached houses rise 20 per cent in July to 582 homes from a year earlier.% F" b+ L5 C6 Q
; X9 A( x! |& K2 e( LWithin the City of Edmonton, 341 houses were started, compared to 289 units in July 2011.0 O) j) K+ I) p3 v
' A8 D% [: V3 f* A$ Q( j4 MSo 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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$ L- r! Q3 O. u P, l: EMulti-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.: t5 u0 {0 k1 n( p" g9 X4 _
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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.
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