SAINT JOHN — A new discussion paper is shedding light on some of the challenges facing the housing market in New Brunswick.
Written by Moncton-based economist Richard Saillant, the paper was commissioned by the Housing Hub of New Brunswick. It is a non-profit housing hub which aims to partner with and drive affordable housing solutions.
Saillant said an exploding population in our province is creating extraordinary demand for housing, and the supply simply cannot keep up.
The province’s population surged to 825,000 people as of the first quarter of 2023 — 45,000 more than at the start of the pandemic.
Outside of the three larger centres, he said construction activity has been lower despite the fact the population is also growing in those communities.
“If New Brunswick is to live up to its potential as a growing and inclusive place, we will need to dramatically scale up activity so that all our current and future residents can be adequately housed,” said Saillant.
The paper is the first of two set to be released to provide an independent analysis of the challenges in New Brunswick’s current and future housing market.
They will be followed by a third and final paper by the Housing Hub and its partners focused on possible solutions for the province to consider in their upcoming housing strategy.
You can view the paper by clicking here.
Brad Perry is the Regional News Director for New Brunswick at Acadia Broadcasting, Huddle content partners.