Saskatchewan Housing Starts Soar by 82.2 Per Cent
May 16, 2024
According to the latest data from the Canada Mortgage and Housing Corporation (CMHC), in April 2024, urban housing starts in Saskatchewan increased by 82.2 per cent compared to April 2023.
“The surge in housing starts emphasize our unwavering dedication to building opportunities, creating new jobs and driving economic growth in communities across our province,” Trade and Export Development Minister Jeremy Harrison said. “This growth reaffirms that Saskatchewan is open for business and people want to make long-term investments in Saskatchewan. The province is well-positioned to capitalize on emerging opportunities and further reflects Saskatchewan as one of the most attractive jurisdictions in the country for capital investment.”
In April 2024, housing starts on multiple units also increased by 184.9 per cent (from 93 units to 265 units), compared to April 2023.
Housing starts refers to the number of housing projects that started that month.
The provincial economy has seen substantial growth recently. Exports continue to soar, totaling over $101.9 billion for 2022 and 2023 combined. This is a 52.2 per cent increase from the previous two-year period of 2020-2021, which saw $66.9 billion in total exports.
In 2023, Saskatchewan’s population grew by over 30,000 people, which is the biggest population increase in over a century.
Private capital investment is projected to reach $14.2 billion in 2024, an increase of 14.4 per cent over 2023. This is the highest anticipated percentage increase in Canada.
The Government of Saskatchewan recently unveiled its new Securing the Next Decade of Growth – Saskatchewan’s Investment Attraction Strategy. This strategy combined with Saskatchewan’s trade and investment website, InvestSK.ca, contains helpful information for potential markets and solidifies the province as the best place to do business in Canada.
