In a report titled, “Migration Drives Saskatchewan Housing Market and Economy,” RBC is predicting that Saskatchewan’s economy will grow by 4% in 2007, and 3.6% in 2008, outpacing the Canadian economy and all but two other provinces.
“After ten years of declining population, the province is enjoying its largest migration surge in 25 years,” said Craig Wright, vice-president and chief economist, RBC. “It has sparked a sudden housing boom that can be seen by increased construction activity, a massive pop in house prices particularly in Saskatoon, and a lift to consumer spending.”
The report also says, “caution is warranted regarding the sustainability of house prices” noting that it’s far too early to call this migration shift permanent.
I’m always happy to answer your Saskatoon real estate questions.
Royal LePage Vidorra