REGINA — The latest numbers from Statistics Canada are showing continued growth for Saskatchewan’s building permits, which had a 13.8 per cent increase for year-over-year growth for October 2024 compared to October 2023.
According to a release from the province, in October 2024, building permits in Saskatchewan totalled $239 million (seasonally adjusted). In Regina, the value increased by 54.7 per cent year-over-year.
The increase was largely driven by an uptick in residential building permits, which were up 53.1 per cent during this same period.
The total value of building permits represents the dollar value of construction permits for residential and non-residential buildings.
“This continued growth in building permits shows more people are choosing to make long-term investments in Saskatchewan,” Trade and Export Development Minister Warren Kaeding said in a statement. “New permits being issued create jobs and opportunities for the people of Saskatchewan, with lasting benefits for our communities. This is a direct result of our competitive business environment and ongoing affordability measures, keeping our province the most attractive place in the country for new investment.”
When it comes to the province’s GDP, Statistics Canada’s 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. This places Saskatchewan tied for second in the nation for real GDP growth.
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.
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