Rising costs the new normal for Saskatchewan’s home construction industry
Global News
Construction costs continue to rise and are up about $80,000 per unit from last year. Also, supply chain issues are creating up to a 10-week delay for the construction of homes.
The impacts of inflation and a ever-reeling supply chain are being felt in many areas of day-to-day life.
The home building industry in Saskatchewan is no stranger to these recent hardships.
According to Stu Niebergall, the CEO of the Regina Home Builder Association, construction costs continue to rise and nationally are up about $80,000 per unit or 16 percent from last year, with half of that being attributed to lumber costs and the other half being other building materials.
“On top of that, on average supply chain issues are creating up to a 10 week delay for the construction of homes,” said Niebergall.
While Saskatchewan remains one of the most affordable provinces for new home builders, the trickle down effect from rising costs are being felt in the Prairies.
Niebergall added that home building prices in the province have remained relatively steady for the last 5 years but that isn’t the reality of today.
“In the local market, we don’t see the cost of constructing new homes getting less. We do still think this is a good year to build because we do anticipate prices will continue to rise through 2022 into 2023,” said the home builder CEO.
Brandon Fuchs, the president of Regina’s North Canadian Construction, says it’s the new normal every month to get emails from a supplier about a price increase.
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