News Release - November 8, 2010
NEW HOUSING STARTS TAKE OFF IN 2010
Urban housing starts in the first 10 months of 2010 increased by 60 per cent over the same period in 2009 according to a report released by CMHC today. Saskatchewan had the second highest percentage increase in Canada during that period.
Saskatoon had an increase of 104 per cent and Regina posted a 36 per cent rise in construction starts in the first 10 months of 2010 compared with last year.
"Home construction has really taken off this year partially due to an increase of our population," Enterprise Minister Jeremy Harrison said. "With a strong economy, more jobs and higher earnings, Saskatchewan consumers are confident and financially able to invest in new homes."
Saskatchewan's urban housing starts for October 2010 were up 5 per cent from last October, the fifth highest percentage increase among the provinces. Half of the provinces had a decrease in October housing starts when compared with 2009.
"So far this year one of the most significant improvements was on the multiple units which were up by 106 per cent over the first 10 months of 2009," Harrison said. "The surge in multiple units is a good indication that the positive investment climate is allowing investors more opportunities in a thriving housing market."
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