Record construction pace continued in September
The City of Regina's building division reports that the number of building permits issued are nearly 40% ahead of last year's record pace. There were 2,600 building permits issued during the first nine months of 2012 compared to 2,065 in the same period last year.
The Canada Mortgage and Housing Corp. (CMHC) monthly report stated that in September 2012 there were 284 housing starts - up nearly 60% from 179 units in September 2011.
- 172 single-detached compared to 80 in September 2011
- 112 multi-family starts - 13% higher than September 2011
Residential starts in the first 9 months of 2012 compared to the first 9 months of 2011
- Total starts in Regina - 2,220 units in 2012 - 1,140 in 2011
- Single detached starts - 1,033 units in 2012 - 690 in 2011
- Multi-family units - 1,187 units in 2012 - 450 in 2011
According to the Regina Home Builders Association, this level of housing construction activity is the highest in over 30 years. This level of housing starts has not been seen since the 70s. Nine straight months of increased housing starts has resulted in 67% growth over the 5-year average and 90% over the 10-year average for single detached homes.
Commerical construction also has many big-ticket items happening such as:
- Best Western Hotel on Eastgate Drive
- Cabela's Store on Gordon Road
- Two apartment projects on Rochdale Boulevard
- Major renovations to the Southland Mall with new stores coming to the mall
- Canadian Tire
- Sport Chek
- Mark's Work Warehouse
If you're planning a move or looking for your first home, investment or commercial property, check out my website at www.century21.ca/jodi.thompson. I can help you with all your real estate needs.