REGINA — A building boom continues in Saskatchewan, with the latest Statitics Canada numbers showing a 47.5 per cent increase in year-over-year building permits issued for July 2024 compared to July 2023 (seasonally adjusted).
This places Saskatchewan second in terms of percentage change among the provinces, according to Sask. Trade and Export Development.
In July 2024, building permits in Saskatchewan totaled $257 million (seasonally adjusted). The province also ranked second in month-over-month growth, with an increase of 49.2 per cent in July 2024 over June 2024. Non-residential building permits (seasonally adjusted) increased by 92.2 per cent in July 2024, compared to June 2024. Residential permits increased by 59.3 per cent from July 2023 to July 2024.
Saskatoon saw building permits rising 103.3 per cent month-over-month and 131.4 per cent year-over-year in July 2024.
The total value of building permits represents the dollar value of construction permits for residential and non-residential buildings.
Statistics Canada's latest GDP numbers indicate that Saskatchewan's 2023 real GDP reached an all-time high of $77.9 billion, increasing by $1.2 billion, or 1.6 per cent. This places Saskatchewan second in the nation for real GDP growth, and above the national average of 1.2 per cent.
Private capital investment is projected to reach $14.2 billion in 2024, an increase of 14.4 per cent over 2023. This is the highest anticipated percentage increase in Canada.
