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Alberta sets record with housing boom

Alberta is experiencing a historic housing boom with nearly 14,000 new housing starts in the first four months of 2024. According to the Canadian Mortgage and Housing Corporation, the province recorded 13,560 housing starts from January to April, a significant increase driven by rapid population growth and streamlined construction processes.

April alone saw 3,816 housing starts, a third of which were rental homes, marking a 60 per cent increase compared to April 2023. This surge contrasts with a nearly 10 per cent decrease in housing starts across the rest of Canada during the same period. Alberta’s largest cities, Calgary and Edmonton, reported substantial growth, with 1,831 and 1,636 starts respectively in April 2024.

Minister of Seniors, Community and Social Services Jason Nixon credited the province’s fast permit approval times and reduced regulatory barriers for this unprecedented growth. The government’s Stronger Foundations affordable housing strategy also aims to support 82,000 low-income households by 2031.

The BILD Alberta Association’s CEO Scott Fash, emphasized the collaborative efforts between government and industry to meet the housing demand, highlighting Alberta’s leadership in addressing housing shortages effectively.

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