January 17, 2011
Home builders have been busy across the province and it looks like 2011 will be another good year for housing starts in Saskatchewan, according to (CMHC) Canada Mortgage and Housing Corp.
Three factors will be particularly key to keeping the house construction industry strong:
- Employment growth
- Wage increases
- In-migration of people
The situation is positive for Regina, for Saskatoon, and for most of the smaller cities. Regina saw 708 housing starts, up 24% from the number of single-family housing starts in the city in 2009. An upswing in potash and other resource industries should keep Saskatoon’s economy strong this year. There were 1,638 single-family starts in Saskatoon last year, an increase of 48.8% from 2009.
A total of 4,562 housing starts of various kinds were made in Saskatchewan last year, which is up 55.4% from 2009. Saskatchewan’s increase was more than double the national average. Housing starts in Saskatchewan was the second-highest in Canada, behind British Columbia.