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FOR IMMEDIATE RELEASE HOUSING STARTS IN REGINA AND SASKATOON ON

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					FOR IMMEDIATE RELEASE

 HOUSING STARTS IN REGINA AND SASKATOON ON PACE FOR
             HIGHEST TOTALS IN 25 YEARS

Regina, June 9, 2008 – Canada Mortgage and Housing Corporation (CMHC) released preliminary
results of its monthly survey of residential construction today. The release shows year-to-date housing
starts in Regina and Saskatoon continue to reflect the strong economies and buoyant housing demand
of these two centres.
In Regina, builders of single-detached homes had a strong month in May. Foundations for 112 units
were poured, the highest activity for this housing type in May since 1983 and a 6.7 per cent increase
over the May 2007 performance. Multiple construction fell back to 56 units, behind the May 2007 multi
starts figure of 95 units. Nevertheless, year-to-date total housing starts in the capital have now reached
546 units, the highest seen at this time of year since May 1986. All of the strength comes from single-
detached activity where CMHC reports a year-to-date figure of 390 starts, unmatched for 25 years.
Multiple housing starts have fallen behind this time in 2007 with a 25 per cent drop.
Saskatoon single-detached starts continued to exceed the preceding year with 195 starts in the month
of May, 3.7 per cent higher than the May 2007 figure and the strongest performance for this month
since May 1983. Multiple starts in May were up almost 72 per cent above May 2007. In May, Saskatoon
total housing starts were up close to 22 per cent compared to May 2007. On a year-to-date basis, total
housing starts in the Bridge City now stand at 1,107 starts. Single-detached starts in the first five
months of 2008 are 659 units, 14 per cent above the May 2007 year-to-date figure while multiple starts
are almost 65 per cent ahead of the May 2007 year-to-date starts number.
“Demand for new ownership housing has been unmatched since the wave of baby-boomers hit the
market around 25 years ago,” said Paul Caton, Senior Market Analyst for CMHC Saskatchewan. “The
high demand we are seeing now results from the job growth and in-migration experienced in the
province in 2007 and the first five months of 2008. As yet, we have seen no sign of this demand
dropping.”
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.

                                               -30-

       For further information, please contact: Paul Caton, Senior Market Analyst, CMHC
              Saskatchewan - Regina (306) 780-5889 or Saskatoon (306) 975-4897
                                                  Preliminary Housing Starts in Saskatchewan
                                                                  May 2008

                                        Single-Detached                   Multiple-Family                    Total
                                      2008       2007          %       2008        2007        %     2008       2007      %
Regina CMA                              112          105      6.7        56         95      -41.1     168        200   -16.0
              Regina City                86           90     -4.4        54         95      -43.2     140        185   -24.3
        Surrounding Area                 26           15     73.3         2          0         --      28         15    86.7
Saskatoon CMA                          195           188      3.7       115         67       71.6     310       255    21.6
         Saskatoon City                114           119     -4.2       113         54          --    227       173    31.2
       Surrounding Area                 81            69     17.4         2         13      -84.6      83        82     1.2
Total*                                 307           293      4.8       171        162        5.6     478       455     5.1
Source: Market Analysis Centre, C.M.H.C.
-- % change equals or exceeds +/- 100%
*Total consists of Regina CMA and Saskatoon CMA


                                                             January to May 2008

                                        Single-Detached                   Multiple-Family                    Total
                                      2008       2007          %       2008        2007        %     2008       2007      %
Regina CMA                              390          306     27.5       156        208      -25.0     546        514     6.2
              Regina City               279          270      3.3       154        208      -26.0     433        478    -9.4
        Surrounding Area                111           36       --         2          0         --     113         36      --
Saskatoon CMA                          659           577    14.2        448        272      64.7     1,107       849   30.4
         Saskatoon City                459           373    23.1        405        236      71.6       864       609   41.9
       Surrounding Area                200           204     -2.0        43         36      19.4       243       240    1.3
Total*                               1,049           883    18.8        604        480      25.8     1,653     1,363   21.3
Source: Market Analysis Centre, C.M.H.C.
-- % change equals or exceeds +/- 100%
*Total consists of Regina CMA and Saskatoon CMA

				
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posted:11/8/2011
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