Released on August 7, 2008
Saskatchewan had the highest increase in residential permits in Canada according to Statistics Canada's seasonally unadjusted numbers when comparing June 2008 to June 2007. Residential permits were up by 61.3 per cent.
"This is a good indicator that more Saskatchewan people are benefiting from our prosperous times," Enterprise and Innovation Minister Lyle Stewart said. "More families have the financial means to further set down roots in our province by building new homes. To see this stellar growth indicates that Saskatchewan businesses and families are in a position to take advantage of the opportunities that are contributing to the momentum driving our economy."
As well, Statistics Canada indicates Saskatchewan had the second largest percentage increase in building permits in the nation on a seasonally adjusted basis in June 2008.
Seasonally adjusted, Saskatchewan's value of building permits totalled $192 million in June 2008, up five per cent when compared to May 2008 when figures hit $183 million. Newfoundland recorded the highest increase, up 19.1 per cent.
"The growth in the construction sector has been both significant and steady," Stewart said. "Saskatchewan's building permit values are at record levels and continue to outpace most other provinces when it comes to percentage increases."
The seasonally unadjusted numbers for June show that Saskatchewan had an increase of 7.4 per cent to $212.1 million, up from $197.5 million in June 2007. That was the fourth highest increase in Canada, but well ahead of the national average which declined by 9.1 per cent over that period.
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For more information, contact:
Deb Young
Enterprise and Innovation
Regina
Phone: (306) 787-1691
Email: Deb.Young@gov.sk.ca