Saskatoon housing starts down in 2016
The report, released on Tuesday, states that Saskatoon’s housing starts totalled 1,909 units in 2016, a 17 per cent decrease from 2,293 units in 2015.
There was a 37 per cent year-over-year reduction in multi-unit starts; however, a nine per cent gain in single-detached construction helped with 2016 production in the CMA.
Construction started on 142 Saskatoon units in December, down 55 from the same month the previous year.
“The trend in total housing starts edged higher in December after local builders increased production of single-detached units,” Goodson Mwale, CMHC’s senior market analyst for the province, said.
“Nonetheless, there were fewer overall housing starts in 2016 than in the previous year, as weaker economic conditions and elevated inventory slowed the pace of new construction.”
Saskatchewan’s total urban starts were at 3,878 by the end of December, down from 4,332 in 2015.
CMHC’s preliminary housing starts for Canada last year were at 180,647.
© 2017 Global News, a division of Corus Entertainment Inc.