Released on November 6, 2008
Saskatchewan's building permits totalled $347.5 million in September 2008, the highest amount ever on record, beating the previous record set in July 2008 ($298.6 million).
In September 2008, building permits in the province were up 142.2 per cent over last September, the highest percentage increase in Canada (seasonally unadjusted). Nationally, building permits increased by only 9.1 per cent.
"When you are dealing with numbers of this magnitude, it is hard to fathom that we are dealing with such hardships in the national economy," Enterprise and Innovation Minister Lyle Stewart said. "Although we cannot be too over confident, it is very difficult to hide the fact we are dealing with the best building permit numbers ever in the history of our province - that is amazing."
The value of residential permits was up by 14.7 per cent in the province between September 2007 and September 2008. Non-residential construction increased by 329.3 per cent to $249.7 million during that same period.
On a seasonally adjusted basis, building permit increases also recorded the highest percentage increases in the nation, up 115.2 per cent between August 2008 and September 2008. On the national front, permits were up 13.4 per cent.
"We are very encouraged by these numbers, and are confident the new tax changes we have implemented along with the strong fiscal management will help to encourage further investment, and continue the building boom in the province," Stewart said.
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For more information, contact:
Deb Young
Enterprise Saskatchewan
Regina
Phone: 306-798-0503
Email: Deb.Young@gov.sk.ca