REGINA — Statistics Canada recently released data indicating a 26.2 per cent year-over-year increase for the value of building permits in Saskatchewan from November 2023 to November 2024.
The province also saw a month-over-month increase of 15.3 per cent in the value of building permits for November 2024 compared to October (seasonally adjusted).
“The continued growth we are seeing in building permits demonstrates the confidence that individuals and industry have in Saskatchewan’s strong and growing economy,” Trade and Export Development Minister Warren Kaeding said in a statement. “Because of our efforts to create a business-friendly environment and attract new investment to Saskatchewan, more people are choosing our province to live, work, and raise a family than ever before. Our growing construction sector is leading to more opportunities for people and communities across the province.”
In November 2024, building permits in the province totalled $273 million. The total value of building permits represents the dollar value of construction permits for residential and non-residential buildings, the release states.
These figures follow last month’s report which showed building permits in the province saw a 13.8 per cent year-over-year increase for October 2024 compared to October 2023.
In addition, Statistics Canada’s latest GDP numbers indicate Saskatchewan’s 2023 real GDP reached an all-time high of $77.9 billion, increasing by $1.8 billion, or 2.3 per cent.
Private capital investment is projected to reach $14.2 billion in 2024, an increase of 14.4 per cent over 2023. This is the highest anticipated percentage increase in Canada, the release adds.
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