Released on June 5, 2008
Saskatchewan's value of building permits hit another record in April 2008, with the highest percentage increase in Canada.
According to Statistics Canada today, building permits in April reached a total of $260 million, up 136.8 per cent from $109 million in April 2007 (seasonally unadjusted). This is over seven times the national average increase of 18.1 per cent.
"The rise in building permits and overall construction in the province speaks to the confidence business and families have in the economy," Enterprise and Innovation Minister Lyle Stewart said. "Investment in capital construction will contribute to the continued economic growth in both the short term and definitely for the long term."
Residential permits totalled $142 million, an improvement of 108.1 per cent on a year-over-year basis when compared with last April. Non-residential construction also experienced a jump over last April, recording a total of $117.6 million, up 189.9 per cent.
"The increase in residential permits is a clear sign that more Saskatchewan families are benefiting from our growing economy by building new homes," Stewart said. "And the increase in non-residential construction is a vote of confidence in our growing economy and a sign that Saskatchewan's new prosperity is here to stay."
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For more information, contact:
Joanne Johnson
Enterprise and Innovation
Regina
Phone: 306-787-1691