Starts Rise in Regina, Fall in Saskatoon During September
Calgary, October 8, 2008 – According to preliminary figures released today by Canada Mortgage and Housing Corporation (CMHC), year-to-date housing starts across Saskatchewan’s urban centres have increased 4.4 per cent over the first nine months of the year.
In Regina, total monthly housing starts this September outstripped last year`s tally by 48 per cent. Builders in the capital started construction of 132 homes compared to 89 units in September a year ago. “Regina’s gain in starts this September was largely due to the singledetached segment which accounted for 63 per cent of home building activity,” said Regine Durand, Market Analyst for CMHC. Monthly single-detached starts totaled 83 units, an eight per cent gain over the previous year. Foundations were poured for 49 multi-family homes this September compared to 12 units a year earlier. Year-to-date, total housing starts are now up two per cent over 2007. The 19 per cent rise in year-to-date single starts has largely countered the 22 per cent decline in year-to-date multiple starts. There have been 742 single-detached and 353 multi-family housing starts in the capital through the first nine months of the year.
In Saskatoon, 44 single-detached homes were started this September, a 64 per cent decrease from the previous year. “The reduction in activity during September brought the year-to-date gain for single starts into negative territory”, said Durand. “Through August, singledetached starts in Saskatoon were one per cent ahead of the pace set last year. Now, year-to-date single starts are six per cent behind last year’s total”, she added. On the multiple side, monthly starts were four per cent ahead of September 2007 levels. Though the 126 multi-family units started this September boosted Saskatoon total housing starts to 170 units, they failed to counter the decrease on the single side. As a result, Saskatoon total housing starts in September were down 30 per cent yearover- year. “Despite the year-to-date decline in single-detached activity total housing starts were still up 11 per cent from the same period last year, thanks to a 39 per cent rise in multiple construction,” noted Durand. A total of 1,019 multifamily units were started during the first nine months of this year, boosting total housing starts to 2,095 units over this period.
“The reduction in activity during September brought the year-to-date gain for single starts into negative territory”
In Saskatchewan`s Census Agglomerations (CAs), 306 housing units were started from July to September 2008, a 13 per cent drop from the 353 units started during the corresponding period in 2007. The decline was mainly due to a 29 per cent decrease in single-detached starts over this period as multi-family housing starts rose by 18 per cent over the same period. Lloydminster (SK), Swift Current and Yorkton largely contributed to the decrease.
As Canada’s national housing agency, Canada Mortgage and Housing Corporation (CMHC) draws on over 60 years of experience to help Canadians access a variety of quality, environmentally sustainable, and affordable homes—homes that will continue to create vibrant and healthy communities and cities across the country. For more information, visit www.cmhc.ca or call 1-800-668-2642.
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