How are high rates and inflation affecting the Sask. housing market?
According to Robert Davis, Conexus vice president of treasury, the housing market is coming off a period of high rates coupled with an inflationary environment.
“Affordability in Saskatchewan and nationally is a very real challenge,” he told the Evan Bray Show on Wednesday.
Compared to national numbers, housing prices in Saskatchewan have remained “relatively stable” over the last few years compared to provinces like British Columbia or Ontario — but still, housing prices are up approximately five per cent year after year in the province.
“You have to look even deeper into the details,” he told Bray. Adding house prices in Regina are “more or less flat” compared to markets like Saskatoon and Moose Jaw where house prices are up nearly seven per cent yearly.