Story continues below advertisement
Anita Linares is a senior market analyst for the Canadian Mortgage and Housing Corporation for Regina, and Pete Nelson is a senior market analyst for the same company in Saskatoon, and both say they are seeing the tightest housing market conditions since 2014. “The year-on-year rent increase is the highest that it’s been at any point since that time,” Nelson said.
Nelson said a couple of factors are creating these conditions, noting immigration is picking back up, in-person classes at post-secondary schools are picking up as well, and the economic strength of the province are all contributors.Saskatoon’s 2023 housing market likely to buck national trend due to short supply
He said the rental market over the next few years will be dependent on what new housing will be coming online, and how that balances out with the other factors.Linares said she echoes a lot of the same points as Nelson when it comes to the Regina market, but said for the second year in a row the rental market universe in Regina has decreased.