Released on July 10, 2012
Saskatchewan's urban housing starts had a major increase in June, up by 32.8 per cent over June of 2011. Saskatchewan had the fourth highest percentage increase among the provinces, well ahead of the national average of 11.7 per cent. Single detached housing construction had an impressive increase of 50.9 per cent.
"There are a number of factors at play that are contributing to the growth in home construction including a rising population, rising wages and strong consumer confidence," Parks, Culture and Sport Minister Kevin Doherty said on behalf of Economy Minister Bill Boyd. "The significant activity in Regina and in single unit construction across the province speaks to the strength of our economy."
In the first six months of 2012, housing starts are up 34.5 per cent when compared to the same period last year, the third highest growth rate among the provinces. Regina's starts were up 103.6 per cent over this time period, while Saskatoon had a 3.9 per cent increase and other cities rose 26.8 per cent. Multiple unit construction across the province increased by 41.0 per cent.
"The construction industry has had considerable momentum for some time now, with new developments in many areas of Regina," Doherty, MLA for Regina Northeast, said. "Our economy is experiencing unprecedented growth that is sustainable, consistent, and bodes well for the future of Regina and our province."
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For more information, contact:
Deb Young
Enterprise Saskatchewan
Regina
Phone: 306-787-6315
Email: deb.young@enterprisesask.ca