Red Deer has seen a significant boost in housing through the first 10 months of 2024.
Monthly data released from the Canada Mortgage and Housing Corporation shows that there have been 327 housing starts in Red Deer from January to October, compared with 169 through the first 10 months of 2023. This marks a 93 per cent increase.
Provincially, housing starts rose to 37,971 so far in 2024, which is a 34 per cent increase over the same period last year.
"The 34 per cent increase in housing starts highlights the strength of Alberta’s housing market and the positive impact of ongoing efforts to reduce construction barriers," said Scott Fash BILD Alberta Association CEO.
"With continued collaboration between industry and government, we’re building the homes Albertans need to thrive. BILD Alberta remains committed to supporting this growth and ensuring a strong, sustainable housing future for the province."
Jason Nixon, minister of seniors, community and social services, said Alberta is seeing "remarkable numbers" of new housing starts.
"These homes are an investment in Alberta’s future, and we will continue to work with our partners to make sure we continue to increase Alberta’s supply and strengthen our communities for years to come," said Nixon.
Alberta’s government states there is a need for more housing options, as the population continues to grow.
The provincial government added that work is being done to reduce barriers and empower its housing partners to get more shovels in the ground, citing the launch of the Stop Housing Delays online portal, which is now available for developers and municipal authorities to help identify areas that are preventing fast and efficient residential construction.
This portal aims to help government identify and address barriers to building homes across the province so that Alberta can continue building homes as quickly as possible.
