| Monday, 25 October 2010
An increase in apartment construction boosted Edmonton’s overall residential housing industry in September.
Apartment starts increased to 209 units, up from just 21 for the same month a year ago, and made up the bulk of the 375 multi-family housing starts, reported by the Canada Mortgage and Housing Corporation (CMHC).
Construction starts of detached single-family homes in Edmonton totalled 498 in September, a modest gain from 481 a year ago.
“Despite increased competition from a well-supplied resale market, September’s production represented 16 straight months of year-over-year increases in single-detached starts,” said Richard Goatcher, senior market analyst at CMHC.
After nine months this year, work has started on 4,816 detached homes, more than double the 2,246 starts for the same period in 2009.