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Jobs, newcomers and stronger house prices are behind a surge in housing construction in the Edmonton region.1 C' u3 k+ e0 d1 T7 u) K
0 C# K" ~5 B& t7 uHousing 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.5 o& Q/ n5 r5 |, H
* ?8 s: o5 @: E+ \; I+ _- EThis July, 1,435 units were under construction compared to 1,034 units in July 2011.
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- ]3 ?: w# |, W8 i! K+ eSo 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.
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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.”6 k O6 o( e) `1 L/ Q1 N: E
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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.. d. ~; H, g! D3 A* M
4 A6 z# D0 K1 D3 \* Z1 mSo far this year, 3,177 single-detached homes began construction in the region, 17 per cent over the same period last year.0 @, j$ z. J$ ~" A) w8 u9 }
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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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- f1 M5 u" w* ~+ C- w5 q# ^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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