Saskatoon News March 28, 2012

Economy is Red Hot In Saskatoon

Saskatoon is forecast to lead the nation in GDP growth in 2012 with 3.6%, closely followed by Calgary at 3.5% and Edmonton at 3.2%.  Regina was the leader in 2011 with gross domestic product growth of 6.1% followed by Saskatoon and Edmonton. Saskatchewan’s economy keeps on growing.

The forecast shows that from 2013-2016 Calgary should lead, followed by Edmonton and Saskatoon. Senior economist, Rob Wiebe, says “Saskatoon has been red hot” and is not surprised that Saskatchewan’s economy has been boosted by resource extraction and a good agricultural picture. There is a lot of demand for food and of course with potash helping produce food this plays into the demand. We also have the Bakken Oil field in Southern Saskatchewan and nuclear is being re-examined so our Uranium reserves continues to play a role.

Saskatoon is doing things to keep up with the growth and to prepare for further growth such as a new art gallery, River Landing, a new police station and water treatment plant. The economic boom has also fuelled a population explosion in Saskatoon, up 10,000 from 2011 our new population is 270,000. Due to the demand of food, fuel and fertilizer Saskatoon should continue to see growth and our positive migration is an important forecast for the future. We are seeing approximately 500 people a month move to Saskatoon and I can see this in the Saskatoon real estate community as well.

Real estate in Saskatoon is as busy as ever with demand for both houses for sale in Saskatoon and rentals in Saskatoon. I have been getting more requests lately for rentals, however I do not deal in property management so hopefully I can flip some of these would be renters into Saskatoon home buyers.

If you are thinking about purchasing a house for sale in Saskatoon there is no time like the present as demand will continue to increase and supply will continue to be tight as Saskatoon home builders cannot keep up with the demand.

Kari Calder
Saskatoon Real Estate Agent
Century 21 Fusion