Alberta housing starts rise 35 per cent over previous year

EDMONTON – Alberta homebuilding continues to accelerate.

Monthly data from the Canada Mortgage and Housing Corporation (CMHC) indicates Alberta housing starts rose to 33,577 in 2024, a 35 per cent increase from the previous year.

“Alberta’s impressive rise in housing starts underscores the essential collaboration between all levels of government and the building industry. The Government of Alberta has been an exceptional partner in this effort, working alongside us to break down barriers and enhance industry capacity to meet the diverse housing demand,” BILD Alberta Association CEO Scott Fash said in a statement.

Provincewide there were 33,577 starts compared to 24,904 the previous year. Edmonton had 13,359 compared with 9,099, up 47 per cent, and Calgary came in at 17,414 compared with 14,141, up 23 per cent.

Alberta had 10,699 purpose-built rentals, making up 32 per cent of all housing starts and the first half of 2024 saw 9,903 apartment unit starts, the release said, which broke the record set previously in 1977.

Alberta put $182.4 million to 1,235 units of affordable housing where construction is not yet underway, $66.8 million to 451 units of affordable housing currently under construction and $52.1 million to 250 units of affordable housing that have been completed since December 2023, the release said.