Sask. still affordable for housing but has ‘significant’ inventory crunch

Saskatchewan is still the most affordable place to live in the country, says Saskatchewan Realtors Association CEO Chris Guérette.

However, she told The Evan Bray Show on Monday that the province has an inventory crunch that is quite significant.

“(Saskatchewan) may be more affordable, but the accessibility is similar to other provinces,” Guérette said, adding that it can take people a long time to find housing that suits their needs and budget.

“Saskatchewan is a pretty great place for investment, but if you can’t get there fast enough it doesn’t feel like it,” she said.

Read more

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• ‘Can’t be complacent’: Sask. housing providers find solutions
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Guérette told Bray that housing markets differ in the province, whether it’s in large centres like Saskatoon or Regina, or growing areas like Humbolt and Moose Jaw.

“Housing culture at its core is extremely local.”

In February, the federal government announced it would be investing $41.3 million into Saskatoon’s project to build 940 housing units in the city over the next three years through the Housing Accelerator Fund (HAF).

The HAF is a $4 billion Canada-wide program designed to densify cities near transit routes, and create 100,000 new homes over the next three years. Saskatoon’s goal is to create 940 affordable homes in that time period.

Bray highlighted the pushback some cities have faced after accepting the federal funding, noting it could make changes to neighbourhood characteristics.

He asked Guérette how her organization felt about the fund, to which she replied that opinions among members are divided.

“I think part of our culture in Saskatchewan is (that) we ask for better unapologetically,” she said.

“When we have policies that come from Ottawa that don’t really feel like they’re a good fit locally, we push back.”

Guérette said the challenge is adapting local and provincial policies to align with federal incentives, ensuring that Saskatchewan is comfortable with those changes at local levels.

Last month, a blueprint was put forward by the Saskatchewan Housing Continuum Network titled “Secure Homes, Strong Future” with suggestions on how to address the housing needs in the province.

Involved in the study are both Regina & Saskatoon Region home builders’ associations, the Saskatchewan Landlords Association, and Saskatchewan Realtors Association.

Some of the suggestions in the report included reducing PST and keeping rebates for the construction of newly built homes.

The report estimates that Saskatchewan needs 60,000-80,000 new housing units by 2030 to keep up with provincial growth.

Read more

• Saskatoon plans for affordable housing project on Lakewood Civic Centre site
• ‘Can’t be complacent’: Sask. housing providers find solutions
• How are high rates and inflation affecting the Sask. housing market?