Saskatchewan population tops the one million mark
According to a Statistics Canada population report released today, Saskatchewan has passed the one million mark for the first time since 2001. The province’s population was estimated to have reached 1,003,300 by October 1, 2007 an increase of 6,400 people since July, making it the country’s fastest growing province. According to the report, the provincial population has been “on the rebound” since the fourth quarter of 2006 when it bottomed out at 986,900 people.
Interprovincial migration accounted for two-thirds of the growth and was primarily fueled by people who returned to Saskatchewan from Alberta.
Who doesn’t know someone who moved back to Saskatchewan this year?
Read the StatsCan release here
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Norm Fisher
Royal LePage Saskatoon Real Estate
12 comments so far. We'd love to hear your thoughts.
May 25th, 2009 at 3:54 PM
Is it getting croweded yet? Merry Christmas Norm!
May 25th, 2009 at 3:55 PM
Thanks Matt! Still plenty of room but we’re certainly a little low on serviced land.
Merry Christmas to you to.
May 25th, 2009 at 3:57 PM
I think the trend will only intensify and that people will continue to return. Hope has beat fear. This province has momentum like I have never felt before.
I wonder who is coming back? What will they seek? What is the demographic? Will they seek larger houses or townhouses;-) Tell me that Norm.
Michelle
May 25th, 2009 at 3:58 PM
They best first seek a job
May 25th, 2009 at 3:58 PM
Michelle,
There has been a pretty good cross section of people returning, but I think the bulk of them would be 35-44. Probably been away long enough to build some good equity in the inflated markets that they come from. They often buy single-family homes which are priced well above the average (300+).
Like you, I have no problem believing that Saskatchewan can have some good years ahead. I think though that the continued inflow of people will be impacted by the health of western real estate markets. People may be reluctant to accept a job in this area if they feel uncertain about selling their existing home in Edmonton or Calgary. If those markets take off again, we will see them come.
May 25th, 2009 at 4:00 PM
Again this is good for me…and it is all about me;-)
I don’t know what my house is worth. But I suspect it’s in that 340 to 380 price range. I’ve been watching townhouse prices and will continue to do so until I am ready to sell in spring 2009. Furthermore, I will continue to peruse this site. I want to better understand the market now so I can best understand it in 2009. Yes it’s true my interest in real estate is purely self seeking.
You are a wealth of knowledge Norm. You understand markets and more than that you understand the importance of other markets; other provincial markets.
thanks,
Michelle
May 25th, 2009 at 4:01 PM
Hey Norm,
I meant to comment on this post when it first came out but have been busy with christmas. I believe the stats about in-migration and population growth are really indicicative of a major change thats happening in this province – and one that doesn’t look to be going away.
I actually thought that last year was an extrodinary year and that we wouldn’t see the same degree of housing sales that we saw last year. But this year’s fall and winter is proving me wrong and it could be true that Saskatchewan will be in growth mode for years to come.
Some folks believe that prices are increasing because of hype. I disagree and believe its pure supply versus demand and if we don’t build more houses to meet increasing demand, then Saskatoon is going to have some seriously high priced property in a few years. I don’t know what it takes for people to recognize that Saskatoon has to build for population growth – but I think the city is starting to realize what they’re facing.
I heard the city is committing to 3000 lots next year compared to the 2000 last year. Still, we also need more builders in this province to build houses, and the city has to actually meet their targets (which they’ve missed in at least one year I know of). In any case, I think the only real solution to increased prices is to increase the supply of houses or pretty soon it will only be Albertans who can afford them.
May 25th, 2009 at 4:01 PM
Michelle,
Thanks for the kind comments, and thanks for coming.
Doug,
Supply has been a major issue, and yes, labour issues are also key. When it takes a year or more to build a home, there’s a problem for sure. 3,000 lots is a big jump from where we were just a couple of years ago. Hopefully they can pull it off.
May 25th, 2009 at 4:01 PM
Let’s hope these lots go towards being homes and not houses.
(Funny, my captcha is psychiatry avenue?)
May 25th, 2009 at 4:02 PM
Alex,
That’s funny! Every once in a while I get one that make me go hmmm.
Hope you had a nice Christmas Alex.
May 25th, 2009 at 4:02 PM
Do you think Saskatachewan condo prices will stablize or continuous to rise or drop in next 5 years? Do you see US type real state problem heer in Saskatoon?
May 25th, 2009 at 4:04 PM
Sorry Singh,
This market is anything but predictable and the economic problems the US is facing only adds uncertainty. I haven’t got the foggiest idea where the condo market will be in five years.