The value of Saskatchewan building permits skyrocketed in May 2022, reaching $178 million, a leap of 38.2 percent compared to May 2021 and an increase of 2.8 percent from April 2022.
"The continued growth in Saskatchewan's building permits is yet one more sign of our economy's strength," Trade and Export Development Minister Jeremy Harrison said. "Our growing economy, combined with significant private sector investments, are creating jobs and opportunities for the people of our province."
Residential building permits grew by 48.2 percent in May 2022 compared to 2022. Non-residential permits went up 26.2 percent.
The Saskatchewan Government states it is also leading the nation in several other key economic indicators during the last few months.
In April 2022, month-to-month retail trade grew by 1.4 percent and year-over-year wholesale trade increased by 29.4 percent, the highest increase among the provinces, stated the government release. In March 2022, year-over-year manufacturing sales rose by 44.6 percent, the highest increase among the provinces.
With the province seeing an uptick in building permits, the City of Humboldt is looking at more residential growth.
City council approved their first reading on a bylaw amendment dealing with an application to subdivide land in the Westwood Residential Developer Lot on Monday, April 25, 2022. Humboldt finds itself somewhat at the mercy of other forces such as the need to expand available lots and a dearth of available in fill lots for immediate development. The hope is that new builds will help with the current low housing inventory in Humboldt.