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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.
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' [( {" m8 m' G, X2 c- b0 XThis 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.
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3 ^; Y; f5 p$ t5 a3 R“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.”4 P& K: j4 ]4 j, T1 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.+ n0 u# `# v6 d% u' o9 |. L) b# j" }
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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.: Q `% d1 z) |* {7 r+ [; c
: u, ` h7 Y Q Z$ v \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.2 L( ^0 q0 ~9 I" \: p, O* `
; o7 U+ G+ f+ y- l# _% sMulti-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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