Released on October 8, 2013
Saskatchewan’s home builders were among of the busiest in the nation in September, according to a report on urban housing starts released by CMHC today. Urban housing starts were up 23.4 per cent in September 2013 on a year-over-year basis. Saskatchewan had the highest percentage increase in Canada on an annual basis, well above the 4.2 per cent recorded nationally.
“When you combine a growing population and a growing economy, it adds up to the need and demand for new housing,” Economy Minister Bill Boyd said. “It is a boost for residential construction companies, but more importantly, speaks about the overall growth happening right here, right now.”
On an annual basis, urban housing starts were up by 16.2 per cent in Regina, 26.6 per cent in Saskatoon and 25.9 per cent in other urban centres. The largest year-over-year increase occurred in multiple units, which had an increase of 63.7 per cent over last year from 485 units to 794 units.
In the first nine months of this year, urban housing starts were up by 0.7 per cent when compared with the same period last year. That’s third best in the nation and well ahead of the 15.1 per cent decline reported for Canada.
“We’re still on track to having a very good year on the residential construction front,” Boyd said. “Our construction industry is an important component of the Saskatchewan economy. It creats jobs and builds communities that benefit families across the province.”
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For more information, contact:
Deb Young
Economy
Regina
Phone: 306-787-4765
Email: deb.young@gov.sk.ca