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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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& Z3 I2 F& ^7 ~" wHousing 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 2011.9 d% @5 Z% i2 }0 @8 U' P
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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.
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. `# c3 |, t( ?“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.”. ?# A" O# `: a: H; b% t
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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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* v* g5 o+ O0 l7 G0 ?: @9 ^Within the City of Edmonton, 341 houses were started, compared to 289 units in July 2011.9 l) M" Z! N7 Y; ^( q* I
; X- V5 \5 ]3 Q- V$ |3 Z2 hSo 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- H; j8 s& ^2 r8 tMulti-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.
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