ACTIVITY PICKS UP IN URBAN HOUSING CONSTRUCTION

Residential construction in Saskatchewan cities picked up steam last month and recorded a 275 per cent increase over January of 2009.

According to a report released today by Canada Mortgage and Housing Corporation (CMHC), Saskatchewan ranked first among Canadian provinces in terms of percentage increase over last January. Nationally, urban housing starts were up by 40 per cent between January 2009 and January 2010.

"This is an extraordinary turn around from last year, and marks a positive start for the construction industry this year," Enterprise Saskatchewan Minister Ken Cheveldayoff said. "There is a rejuvenated sense of optimism in Saskatchewan this year that translates into a higher confidence level for both consumers and business."

The report also indicates that housing starts were up 388 per cent in Saskatoon and 276 per cent in Regina last month when compared with January 2009.

-30-

For more information, contact:

Deb Young
Enterprise Saskatchewan
Regina
Phone: 306-787-6315
Email: Deb.Young@enterprisesask.ca