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Jobs, newcomers and stronger house prices are behind a surge in housing construction in the Edmonton region.9 m) b1 t( ~" |2 k
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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.5 u/ M. t. K |/ x
/ `. _$ j$ \ IThis July, 1,435 units were under construction compared to 1,034 units in July 2011.
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& c4 w9 g- \" d) f8 Q- qSo 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 2011.8 u9 F: l1 o2 e7 e6 k& y
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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.”; k5 z" `6 r* m* G
8 `& p6 M+ }+ O# I1 ^3 d& KThe capital region saw the construction of single-detached houses rise 20 per cent in July to 582 homes from a year earlier.2 a; E- n7 X1 i4 t* w
& h) o5 ?9 A2 G$ E( E; GWithin the City of Edmonton, 341 houses were started, compared to 289 units in July 2011.0 \0 p L5 ]% y U8 t7 d7 T) i
6 I$ b# ` Z2 q& {- X# u2 Z8 H& P3 fSo 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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, u; f1 `. h1 U/ _- i* T$ jMulti-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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( u6 y1 Q3 v1 s8 }! UMulti-family housing starts in the Edmonton region so far this year reached 3,726 units, compared to 2,380 units started in 2011.: w& L/ U5 W7 n5 Y
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