REMI
land bank

Alberta sets housing construction record in June

Friday, July 19, 2024

Alberta set a new record in June with the most housing starts in the first six months of a year, according to new data from the Canadian Mortgage and Housing Corporation.

Canada had a 7% increase in housing starts in the same time period. Alberta’s housing boom of 54% is on track to set records as one of the busiest years ever. Edmonton increased its number of housing starts by 67% and Calgary by 38% since the same time last year. Starts also skyrocketed in smaller cities. Lethbridge has a 266% increase (289 compared to 79), while Red Deer had 194% boost (278 compared to 95)

Lower development costs for building new homes and less red tape has boosted the level of construction in the province. “Government policy significantly influences industry’s ability to develop new inventory for all Albertans,” added CEO Scott Fash of the BILD Alberta Association. “Effective policies empower builders to enhance efficiency, meet the needs of Alberta’s growing population, and expand housing options for all.”

As of March 31, Alberta’s government has committed $179 million to 1,187 units of affordable housing and $67.5 million to 435 units of affordable housing that are currently under construction.

Leave a Reply

Your email address will not be published. Required fields are marked *

In our efforts to deter spam comments, please type in the missing part of this simple calculation: *Time limit exceeded. Please complete the captcha once again.