Released on April 11, 2012
Saskatchewan's urban housing starts took a huge jump in March 2012, up by 53.5 per cent over last March according to a report issued by CMHC today. For the first quarter of 2012 urban housing starts are up 33.8 per cent over the same period in 2011.
"A strong economy is bringing more people to our province, driving a demand for new housing," Enterprise Minister Jeremy Harrison said. "The availability of jobs and business opportunities is attracting people from all over the globe and is bringing our expatriates home. More and more families are choosing our province as the place to start a life."
Single-family dwellings were up by 30.0 per cent in March 2012 over March 2011, while multiple unit starts rose by 107.2 per cent. In Regina, new starts jumped by 298.4 per cent.
"The construction industry is doing double time to keep up to the demand," Harrison said. "2011 was a strong year for the construction industry, so it's great to see the demand continue. Strong housing starts are good news for the construction industry and good news for Saskatchewan's real estate market."
The highest year on CMHC's record for urban housing starts was 2011, with 5,367 homes started in the province.
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For more information, contact:
Deb Young
Enterprise Saskatchewan
Regina
Phone: 306-787-6315
Email: deb.young@enterprisesask.ca