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By rdnewsNOW staff

Alberta

Province says record starts keeping Alberta’s housing boom strong

Jul 18, 2024 | 6:43 PM

In the first six months of 2024, officials with the Alberta government say housing starts in the province have increased by 54 per cent as more than 21,500 new homes started construction across the province.

Government officials say Alberta set a new record in June with the most housing starts in the first six months of a year, according to new data from the Canadian Mortgage and Housing Corporation (CMHC). The province says more homes are being built in Alberta due to the government’s ambition to reduce red tape and lower development costs for new homes.

“Alberta’s effort to reduce red tape and remove barriers to building homes continues to show success,” says Jason Nixon, Minister of Seniors, Community and Social Services. “While housing construction has slowed down in other large provinces, Alberta’s housing construction is booming. Our government will continue to ensure that Alberta keeps building to meet housing demand.”

While Canada had only a seven per cent increase in housing starts in the same time period, the provincial government says Alberta’s housing boom of 54 per cent is going strong and is on pace to set records as one of the busiest years ever. Officials say Alberta’s two major centres continue strong as Edmonton increased its number of housing starts by 67 per cent and Calgary by 38 per cent since the same time last year.

“Alberta’s record-breaking pace in housing starts demonstrates industry’s dedication to building attainable housing, supported by a vital partnership with the Government of Alberta,” adds Scott Fash, CEO, BILD Alberta Association. “Government policy significantly influences industry’s ability to develop new inventory for all Albertans. Effective policies empower builders to enhance efficiency, meet the needs of Alberta’s growing population, and expand housing options for all.”

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Alberta’s government says it continues to support builders and encourage new residential housing construction by reducing red tape, incentivizing housing construction and supporting innovative strategies to continue to build more homes.

Alberta government quick facts

• Housing starts for January – June 2024 compared to January – June 2023
• Province-wide: 21,510 compared to 14,012 (up 54 per cent)
• Edmonton: 8,448 compared to 5,072 (up 67 per cent)
• Calgary: 11,178 compared to 8,106 (up 38 per cent)
• Red Deer: 278 compared to 95 (up 193 per cent)
• Lethbridge: 289 compared to 79 (up 266 per cent)
• In addition, as of March 31, Alberta’s government has committed:
• $179 million to 1,187 units of affordable housing.
• $67.5 million to 435 units of affordable housing that are currently under construction.
• $39.2 million to 166 units of affordable housing that have been completed since December 2023.
• Together with its partners, Alberta’s government is supporting $9 billion in investments into affordable housing to support 25,000 additional low-income households by 2031.