Building boom in Saskatoon prompts concerns about pace, quality

Local radio station News Talk 650 CKOM reported that Saskatoon Mayor Don Atchison was warned at a city council meeting Monday night about the housing shortage by Homebuilders Association CEO Allan Thomerat.
The latest figures from the Homebuilders Association in February show there were 340 units built that month in Saskatoon, which was a 268% increase over the same time a year earlier.
Part of the increase has been in multi-unit starts, aimed to alleviate rental vacancy rates in Saskatoon between 1-2% last year.
The flurry of building also has Thomerat concerned that the quality may suffer without more regulation, however. Media reports this week said he told the council Saskatoon has 240 registered contractors, but not enough are meeting standards currently.
The value of building permits in February rose 75% compared to a year earlier, reaching $67.4 million, according to Statistics Canada. Comparatively, Regina’s region saw building permits fall 11% year-over year, down to $28.5 million in February.

Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate

COMMENTS

Get help choosing the best mortgage rate

Just fill in a few details, and we'll arrange for a Mortgage adviser to help you find the best mortgage for your needs

  • How soon do you want a mortgage?
  • Name
  • Where do you live?
  • Phone number
  • E-mail address

Industry news

Submit a press release

Poll

Should government update pot rules to prohibit growing in rentals?