Edmonton pace to increase in 2012
Multi-family housing construction in Edmonton will likely show a slight decrease this year, but it will pick up steam in 2012, says a federal agency.
For this year, Canada Mortgage and Housing Corp. is calling for work to start on 3,750 apartments, townhouses, and semi-detached homes — a decrease of just four per cent from the 3,897 construction starts reported for 2010.
In 2010, multi-family housing starts increased by 61 per cent from the previous year, with new apartment activity more than doubling the volumes reported in 2009, says senior market analyst Richard Goatcher, of CMHC in Edmonton.
“In 2012, multi-family starts will approach 4,100 units for an increase of nine per cent over 2011,” he says.
Richard Goatcher of CMHC is predicting there will be 4,100 units in 2012.