In February of 2011 urban housing starts were up 115 per cent (seasonally unadjusted) when compared to February last year according to a report released by CMHC today. There were 234 starts in February 2010 and 503 in February 2011. Saskatchewan had the second highest percentage increase among the provinces.
Multiple units increased from 102 units in February 2010 to 338 in February 2011, a 231 per cent increase. Single units were also up from 132 to 165, a 25 per cent increase.
"February's increase in urban housing starts is in response to a strong economy and a growing population," Enterprise Minister Jeremy Harrison said. "The better news is that forecasts suggest Saskatchewan's major cities are poised to lead Canada in economic growth, which will likely increase residential construction for the longer term."
Regina's housing starts surged by 106 per cent over last year while Saskatoon construction starts improved by 168 per cent.
"The tripling of multi-unit dwellings is significant as it translates into more housing options for Saskatchewan consumers," Harrison said. "The steady pace of home construction over the last several months is definitely a positive trend."
In the first two months of 2011, total urban housing starts rose by 43 per cent compared to the same period last year, the second highest increase in Canada.
