REGINA — Housing starts and construction investment continue to be strong in Saskatchewan according to the latest Statistics Canada numbers.
Housing starts increased by 115.7 per cent from February 2024 to February 2025.
Building construction investment saw an increase of 27.2 per cent in January 2025 compared to January 2024.
In February 2025, housing starts on single-family dwellings increased by 80.8 per cent and multiple units increased by 127.6 per cent, compared to February 2024. In the first two months of 2025, urban housing starts in Saskatchewan increased by 51.5 per cent, compared to the same period in 2024. Saskatchewan ranked second among the provinces in percentage change.
Investment in building construction is calculated based on the total spending value on building construction within the province. Housing starts refers to the number of housing projects that started that month.
Statistics Canada's latest GDP numbers indicate that Saskatchewan's 2023 real GDP reached an all-time high of $77.9 billion, increasing by $1.77 billion, or 2.3 per cent from 2022. This places Saskatchewan second in the nation for real GDP growth and above the national average of 1.6 per cent.
Private capital investment in Saskatchewan increased last year by 17.3 per cent to $14.7 billion, ranking first among provinces. Private capital investment is projected to reach $16.2 billion in 2025, an increase of 10.1 per cent over 2024. This is the second highest anticipated percentage increase among the provinces.
