Alberta’s new home builders are doing their part to increase the supply of homes, while other areas of Canada are seeing decreases in new home starts. A new report from the Canada Mortgage and Housing Corporation (CMHC) shows new home starts in Alberta reached 13,560 between January 1 and April 30, which sets a new record for the most new homes under construction during this time frame in Alberta’s history. Builders were very busy in April, hammering and nailing 3,816 housing starts reported CMHC, with one-third being rental-specific homes, a number that is more than a 60% increase in April this year over April last year, with CMHC numbers showing the rest of Canada saw a decrease of almost 10% over the same period. Builders also set a record for building permits in the first quarter of 2024, according to a report by ATB Financial, a strong indicator that new home starts will continue to increase. “This unprecedented growth shows the province is leading the country in having the fewest roadblocks and fastest permit approval times to enable housing construction and increase the supply of homes,” says Jason Nixon, minister of seniors, community and social services. “We will continue to support our housing partners to make sure we can turn these starts into safe, secure and affordable homes ready for Albertans to move into.” Calgary and Edmonton each experienced a significant boom in new homes under construction in April. CMHC says Calgary had 1,831 housing starts in April 2024, up 57% over April 2023. In Edmonton, builders started 1,636 new homes in April 2024, an increase of 64% over April 2023. "Alberta's significant increase in housing starts reflects industry's commitment to meeting the evolving needs of our growing population,” says Scott Fash, CEO, BILD (Building Industry Land Development) Alberta Association. “By streamlining processes and removing barriers, builders are better equipped to meet demand promptly, ultimately providing more housing options for all Albertans.” “Progress to date underscores the collaborative efforts between government and industry to address our province's housing shortage effectively." Nixon added progress is being made on Alberta’s Stronger Foundations affordable housing strategy with commitments to housing for the most vulnerable, supplying safe, stable and affordable places to live and is on track to support a total of 82,000 low-income households by 2031. In support, there have been more than 50,600 rental-specific starts between 2006 and 2023. A report from ATB Financial shows 40% more building permits have been issued in the first quarter of 2024 (January to March) an all-time record in Alberta’s history. Additionally, as of March 31 2024, Alberta’s government has committed: $179 million to 1,187 units of affordable housing although construction on these projects is not yet underway; $67.5 million to 435 units of affordable housing that are currently under construction and; $39.2 million to 166 units of affordable housing that have been completed since December 2023. Together with its partners, Alberta is supporting $9 billion in affordable housing measures to support 25,000 additional low-income households by 2031.
Alberta’s new home builders are doing their part to increase the supply of homes, while other areas of Canada are seeing decreases in new home starts. A new report from the Canada Mortgage and Housing Corporation (CMHC) shows new home starts in Alberta reached 13,560 between January 1 and April 30, which sets a new record for the most new homes under construction during this time frame in Alberta’s history. Builders were very busy in April, hammering and nailing 3,816 housing starts reported CMHC, with one-third being rental-specific homes, a number that is more than a 60% increase in April this year over April last year, with CMHC numbers showing the rest of Canada saw a decrease of almost 10% over the same period. Builders also set a record for building permits in the first quarter of 2024, according to a report by ATB Financial, a strong indicator that new home starts will continue to increase. “This unprecedented growth shows the province is leading the country in having the fewest roadblocks and fastest permit approval times to enable housing construction and increase the supply of homes,” says Jason Nixon, minister of seniors, community and social services. “We will continue to support our housing partners to make sure we can turn these starts into safe, secure and affordable homes ready for Albertans to move into.” Calgary and Edmonton each experienced a significant boom in new homes under construction in April. CMHC says Calgary had 1,831 housing starts in April 2024, up 57% over April 2023. In Edmonton, builders started 1,636 new homes in April 2024, an increase of 64% over April 2023. "Alberta's significant increase in housing starts reflects industry's commitment to meeting the evolving needs of our growing population,” says Scott Fash, CEO, BILD (Building Industry Land Development) Alberta Association. “By streamlining processes and removing barriers, builders are better equipped to meet demand promptly, ultimately providing more housing options for all Albertans.” “Progress to date underscores the collaborative efforts between government and industry to address our province's housing shortage effectively." Nixon added progress is being made on Alberta’s Stronger Foundations affordable housing strategy with commitments to housing for the most vulnerable, supplying safe, stable and affordable places to live and is on track to support a total of 82,000 low-income households by 2031. In support, there have been more than 50,600 rental-specific starts between 2006 and 2023. A report from ATB Financial shows 40% more building permits have been issued in the first quarter of 2024 (January to March) an all-time record in Alberta’s history. Additionally, as of March 31 2024, Alberta’s government has committed: $179 million to 1,187 units of affordable housing although construction on these projects is not yet underway; $67.5 million to 435 units of affordable housing that are currently under construction and; $39.2 million to 166 units of affordable housing that have been completed since December 2023. Together with its partners, Alberta is supporting $9 billion in affordable housing measures to support 25,000 additional low-income households by 2031.
