There are two seasons in this part of the world: winter and construction. And evidence of the latter stands out in the latest report on building permits issued by local governments in Saskatchewan.
StatsCan’s tally of building permit values for the month of June showed Saskatchewan in a unique position. The value of permits issued locally was double the level we saw a year earlier. For residential construction, it was even higher at 125-percent.
The next highest provincial showing was in Ontario with an increase of less than 30-percent so Saskatchewan was a true outlier. Nation-wide, the increase was just over 20-percent.
The year-over-year gains were felt throughout the province. StatsCan only tracks major cities but we can extrapolate from that data. In Regina permit values were more than 40-percent ahead of last year. Saskatoon was up nearly 20-percent which suggests municipalities through the rest of the province were also enjoying a significant increase in permit values as investors appear to be giving the province a vote of confidence.
