Exciting News: Alberta Housing Starts on the Rise!

Exciting News: Alberta Housing Starts on the Rise!

This year is already shaping up to be a record-breaker for housing starts in Edmonton and throughout Alberta, reaching levels not seen since 2007! The City of Edmonton proudly announced it has exceeded its 2023 goal with a remarkable 10,004 housing starts from January to September, surpassing last year's total of 9,665. This great news comes thanks to some smart changes to regulatory and planning processes, including a significant reduction in red tape, which has allowed for quicker approvals and more homes being built.

While Edmonton's housing starts have jumped over 45% from last year, Calgary is currently leading the province with over 17,000 starts—a 23% increase from last year. Alberta Community Services Minister Jason Nixon commented, “Our efforts are truly making a difference in increasing housing supply and giving Albertans the homes they need!”

Overall, the province has seen over 33,500 housing starts in the first nine months of the year, compared to nearly 25,000 last year. According to an ATB report, housing starts are at their highest since 2007! The report noted that Alberta's housing starts are up 44% this year, while the rest of Canada is seeing a slight decline.

This positive trend is also bringing good news for renters, as nearly 10,000 apartment units were started in the first half of 2024, breaking a record from 1977. Christel Kjenner, director of the Housing Action Team in Edmonton, explained that it's important to build a variety of housing options. “To meet the growing demand, we need not just more homes, but different types as well,” she said. “It’s exciting to see an increase in secondary suites and backyard homes, which now represent 24% of residential building permits issued this year!”