News Summary

Throughout 2024, Alberta has seen a significant rise in housing starts, leading Canada with the highest per capita housing starts. The province reported a 35% increase compared to the previous year, with 42,954 housing starts from January to November. Major cities like Edmonton and Calgary experienced substantial growth, with Edmonton seeing a 48% increase and Calgary a 25% increase. The first half of 2024 set a record with 9,903 apartment unit starts, the highest in Alberta’s history for any half-year period. The Alberta government attributes this success to its efforts in reducing red tape, incentivizing construction, and supporting innovative strategies to expedite residential development. This momentum is expected to continue as the province strives to meet the growing housing demand.