Slower growth in Saskatchewan house prices anticipated

Don’t expect house prices in Saskatchewan to continue skyrocketing, says Mario Lefebvre, director of the Centre for Municipal Studies.

Lefebvre says there won’t be another massive price spike anytime soon, but Saskatchewan should expect steady growth in house prices.

“(Saskatchewan) has had its 40 per cent catch-up in house prices. Don’t expect that to come back down.”

He says that with higher house prices, the gap between the rich and the poor widens.

“You will always find this gap because the natural price increase takes you to a certain level and some people are not following that pace.”

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The Conference Board of Canada predicts the economic boom in Saskatchewan will continue meaning that Saskatchewan is the place to be if you are looking for work in construction.

Lefebvre doesn’t think housing in Saskatchewan is going to go back to the old times.

“Homebuilders cannot expect that eventually residential construction will go back to 2,500 units a year.”

As the population in Saskatchewan grows, Lefebvre predicts 6,000 new homes will be being built each year.