According to the CBC, housing starts in Edmonton jumped 40 per cent year-over-year in July 2012. Based on preliminary figures from the CMHC, CBC reports that in July 2011 there were 1,034 units under construction in Edmonton, and this year, there were 1,435 units under construction.
The total number of housing starts this year is 6,903 units. This is up from 5,085 units in the first seven months of 2011.
According to CMHC’s Senior Market Analyst for Edmonton, David Lan, “Housing starts in Edmonton continue to be supported by employment growth and net migration. He went on to note that “a strengthening resale market also contributed to the higher level of housing starts in July.”
Within the City of Edmonton, 341 units were started last month. In July 2011, only 289 units were started.
According to the article, “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. Multi-family housing starts in the Edmonton region so far this year reached 3,726 units, compared to 2,380 units started in 2011.”