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By rdnewsNOW staff

Housing increase

Red Deer housing up 115 per cent in 2024

Oct 17, 2024 | 10:55 AM

The province has continued its progress in keeping up with the demand for housing in Alberta in 2024.

In Red Deer, the community saw a 115 per cent increase from 146 to 314 homes this year, according to the Canada Mortgage and Housing Corporation. The province as a whole is up 35 per cent from 24,904 to 33,577.

However, the biggest increase has been in Lethbridge which was up 305 per cent from 148 to 599 homes.

Although the government recognizes the need for more housing as the population continues ot increase, monthly data from the Canada Mortgage and Housing Corporation shows the government is helping meet the supply challenge.

“Every month we see that our actions are working to increase our housing supply and build the homes Albertans need,” said Jason Nix, Minister of Seniors, Community, and Social Services.

Housing increase

Red Deer housing up 115 per cent in 2024

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“We know these homes are needed and we will continue to support our partners to make sure we go from permits issued to shovels in the ground and have more homes ready for Albertans as quickly as possible.”

Data also shows Alberta had 10,699 purpose built rentals, which makes up 32 per cent of all housing starts.

In the first half of 2024, there were 9,903 apartment unit starts, which was the highest in any half-year in the provinces history.

In September, Alberta’s government committed $182.4 million to 1,235 units of affordable housing that are not yet underway and $66.8 million to 451 units of affordable housing that are currently under construction.

They also committed $52.1 million to 250 units of affordable housing that have been completed since December 2023.

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