Q3 2020 New Housing Market for Saskatchewan Working with Municipalities a Key Ingredient to Success - Saskatoon & Region Home Builders' Association

News & Publications


Q3 2020 New Housing Market for Saskatchewan Working with Municipalities a Key Ingredient to Success

Saskatoon & Regina, SK (November 19, 2020) >> The Regina & Region Home Builders’ Association (RRHAB) and the Saskatoon & Region Home Builders’ Association (SRHBA) have released the first joint New Housing Market Overview report for the province of Saskatchewan. Covering the third quarter of 2020, this new report is a shared collaboration between the two associations in the province which were already preparing reports of their local area on an quarterly basis. This type of reporting also provides a better picture of the impact of the pandemic on the new housing market and what 2021 may hold for Saskatchewan. The report includes key figures and trends of building permits for the northern and southern halves of the province.

While new home construction continues to be below the 10-year average, Saskatchewan’s residential construction sector is seeing their first year of growth since 2016. Demand for new homes has increased, as people are spending most of their time at home. The pandemic, coupled with the rise of remote workers, has dramatically shifted housing preferences and a desire for space and upgrades.

“For most of us, we are spending more time at home. Many households are using and perceiving their homes in a new way and often, if that doesn’t translate into a move, it means renovations,” comments Chris Guérette, CEO of the SRHBA. “Saskatchewan’s newly announced Home Renovation Tax Credit is certainly arriving at a good time, especially when meshed with the announcement of our new Certified Professional RenoMark Renovator designation, which will ensure professionals are used to work on homes.”

In both cities, housing fundamentals are expected to improve as activity in the service sector, infrastructure projects, and increased stability in the energy sector continue to attract new migrant. Still, having strong relationships with local decision makers is key to ensuring a sharp eye on affordability. “I cannot help but notice that in the communities where our industry has a strong working relationship with the municipality, housing tends to be more affordable and attainable, supply is much closer to demand, and the housing market is more balanced”, explains Stu Niebergall, President & CEO of the RRHBA.

Over the short term, the provincial economy is facing challenges however, long term fundamentals remain strong.

Click here for a PDF of the full report.

 

###

 

For more information and comments, please contact:

Stu Niebergall, President & CEO
Regina & Region Home Builders’ Association
mobile: 306.546.5221
s.niebergall@reginahomebuilders.com
www.reginahomebuilders.com
Chris M. Guérette, CEO
Saskatoon & Region Home Builders’ Association
mobile: 306-292-8619
cguerette@saskatoonhomebuilders.com
www.saskatoonhomebuilders.com

Categories

Cover for Saskatoon & Region Home Builders' Association
1,204
Saskatoon & Region Home Builders' Association

Saskatoon & Region Home Builders' Association

The voice of the residential construction industry in Saskatoon and region.

We had a fantastic time attending the RBC Real Estate Partner Appreciation Luncheon hosted by @RBC! 🎉 We were honored to hear from Michael Linehan, VP & National Head Mortgage Specialists RBC who shared valuable insights on the current real estate landscape. 🏡💡A huge thank you to RBC for the warm welcome and for hosting such an informative and inspiring event. Looking forward to continuing our strong partnership and growing together in the real estate industry! #SRHBA #RBC #RealEstate #Partnership #MortgageSpecialists #Networking #AppreciationLuncheon ... See MoreSee Less
View on Facebook
Congratulations to SRHBA members for a fantastic evening at the NSBA 28th Annual Business Builders Awards Night! Ehrenburg Homes - The Castle Company - Saskatoon took home the Growth and Market Expansion Award, while Meridian Surveys won both the Indigenous Inclusion Award and the Safe Employer Award. Your success truly reflects the strength of our thriving business community. Well done! #BusinessAwards #CommunitySuccess #businessgrowth #awardsnight ... See MoreSee Less
View on Facebook
NSBA announces the finalists for the 28th Annual Business Builder Awards! Congratulations to our valued members!👏Ehrenburg Homes - The Castle Company - Saskatoon Meridian Surveys Saskatoon Co-op ... See MoreSee Less
View on Facebook
The 2024 CHBA Municipal Benchmarking Study is out, and Saskatoon has dropped from 7th to 11th place in national rankings for housing development processes, fees, and approval timelines.The good news? Saskatoon leads Canada with the fastest approval timelines, averaging just two months!The challenge? High municipal fees. $112,200 per unit for low-rise homes are adding to affordability concerns for homebuyers.“Housing affordability is a shared responsibility,” says Nicole Burgess, CEO of SRHBA. “While Saskatoon excels in approvals, rising municipal charges make it harder to keep homes affordable.”With key policy reviews underway, now is the time for meaningful action to support affordability.🔗 Read the full study here: ow.ly/expE50Vb45j#Saskatoon #HousingAffordability #CHBA #SRHBA #HomeBuilding ... See MoreSee Less
View on Facebook
What a show! The 33rd Housing Excellence Awards in Saskatoon was nothing short of spectacular! ✨ We rolled out the red carpet, and you all brought your A-game to the circus of excellence. 🎪Huge congratulations to all of our finalists and winners! You are all truly the greatest in the business! 🏆👏 A big round of applause to our incredible sponsors who helped make this night possible and we couldn't have done it without you! 🙌 And of course, to all the attendees, you brought the energy and made the night unforgettable! It was a blast to celebrate housing excellence in such a fun and unique way. 💫We can't wait to do it all again next year. Until then, keep the spirit of excellence alive! 🎪✨ #HousingExcellenceYXE #saskatoon #greatestshow #untilnextyear ... See MoreSee Less
View on Facebook