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Saskatchewan housing starts up 62%, ranks third nationally in building investment

According to Statistics Canada, Saskatchewan continues to see remarkable growth with housing starts increasing by 62.1 per cent over the last year. Saskatchewan also saw impressive figures in building construction investment as the province is third in the nation from December 2023, compared to December 2022.

“This growth does not just happen on its own,” Trade and Export Development Minister Jeremy Harrison said. “It is a reflection of an economic climate where individuals and businesses are confident making long-term investments based on a stable and reliable regulatory regime coupled with confidence in our provinces steady growth trajectory. This continued surge in building construction highlights Saskatchewan’s strong economy, fostering opportunities for individuals, investors and communities.”

In December 2023, compared to December 2022, investment in building construction increased by 13.9 per cent (seasonally-adjusted) which ranked third best among the provinces.

These numbers show the continuous growth of Saskatchewan’s economy. Recently, the total value of building permits in the province reached $249 million in November 2023 (seasonally-adjusted). This is an 83.9 per cent increase from November 2022, and the highest increase in all of Canada. Saskatchewan also experienced notable month to month growth, showing an increase of 19.3 per cent compared to October 2023.