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February 2013 Prairie Economic Fundamentals

Ally

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News articles for February 2013.
 

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Saskatchewan job growth slows in December





Saskatchewan's help wanted index fell for a second consecutive month in December, but that comes after a 30-point gain October, according to the Conference Board of Canada's help wanted index report for January.




Almost every provincial index posted a decline in December, with Quebec and New Brunswick the only exceptions. British Columbia's index fell 3.3 points - its fifth decline in 2012 - and Manitoba's index fell 2.6 points, its sixth decline of the year.




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Construction activity in Regina off to a good start in 2013




REGINA ` After setting a record for building permit values last year, 2013 is off to another strong start, according to City of Regina`s monthly permit report.




The city`s building standards branch issued building permits valued at more than $39 million worth in January, compared with about




$37 million for the same period in 2012.





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Regina home sales slump in January




Home sales in the Regina area got off to a cool start in 2013, with 181 homes sold last month, down 27 per cent from January 2012 when 247 sales were reported, the Association of Regina Realtors said Monday.




The number of homes sold was also below the five-year average of 222 and slightly below the 10-year average of 184 for the month.





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Saskatchewan job growth slows in December




Saskatchewan's help wanted index fell for a second consecutive month in December, but that comes after a 30-point gain October, according to the Conference Board of Canada's help wanted index report for January.




Almost every provincial index posted a decline in December, with Quebec and New Brunswick the only exceptions. British Columbia's index fell 3.3 points - its fifth decline in 2012 - and Manitoba's index fell 2.6 points, its sixth decline of the year.





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First-time buyers are back after 2012 slump in sales





Just a few weeks ago, the house on East York`s Marlow Ave. would have looked like a simple starter home ` two bedrooms and two bathrooms crammed onto a 17-by-93-foot lot, listed for $469,900.






But by Monday night, after the barn-shaped detached home sold for $525,000 in a flurry of eight competing offers, it became symbolic of something much bigger.






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Saskatchewan leads provinces in job growth, unemployment rate




REGINA -- The weather may have been cold, but Saskatchewan job market was hot in January.




The province`s booming economy added nearly 25,000 jobs in January over the same period last year, a 4.7-per-cent increase and the highest growth rate among the provinces, according to Statistics Canada`s labour force survey released Friday.





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Manitoba charging ahead with 1,600 jobs




Manitoba had even more people working in January after a solid increase in December.




Nationally there were fewer jobs in January according to Statistics Canada report released this morning but Manitoba kept charging ahead with 1,600 new jobs.





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Saskatchewan unemployment rate hits 4-year low





OTTAWA ` The unemployment rate in Saskatchewan has reached a four year low.




Statistics Canada reported today the unemployment rate in January was 4.0 per cent, a drop of 0.6 percentage points from the previous month and the lowest level it has been since November 2008.




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Winnipeg apartment blocks see multiple bids




Investors, both domestic and from Alberta and B.C., are driving up the price of Winnipeg apartment buildings in what has become a bidding war.




"We are seeing multiple bids on good property, with prices bid up $10,000, $20,000, even $30,000 over the asking price," said Harry Logan, a veteran commercial realtor with Re/Max in Manitoba's capital.




Typical capitalization rates are from 5 per cent to 6 per cent, he added.





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Winnipeg ranked among markets to watch in 2013





Winnipeg is ranked among the top eight Canadian cities to watch for real estate investing in 2013, according to a global study by the U.S.-based Urban Land Institute (ULI).



"To us, Winnipeg seems like a steady market of opportunities," the report noted, commenting on the city's strong manufacturing sector and low unemployment as factors.





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Regina's commercial future looks bright




Regina's continued strong economic growth in 2013 will propel the city's commercial real estate market to new heights in construction activity, rental rates and land prices, while maintaining among the lowest vacancy rates in the country, according to Tom Mc-Clocklin, managing director of Colliers International in Saskatchewan.





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Prairies to lead country in economic growth this year




CALGARY ` Saskatoon and Regina will be the fastest growing metropolitan economies in the country this year with Calgary and Edmonton also forecast to have some of the strongest growth rates in the country, according to the Conference Board of Canada.




In releasing its Metropolitan Outlook-Winter 2013, the board said those municipalities are not `booming` like they were prior to the prior to the 2008-09 recession.





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Saskatchewan rental vacancy numbers improve




With Saskatchewan's population projected to reach 1.2 million by 2020, the provincial government estimates 7,000 new housing units must be built annually over the next seven years to accommodate the growth.




Don Allen, assistant deputy minister of housing with the Ministry of Social Services, is pleased with last year's 10,000 housing starts and the building of slightly more than 1,000 new rental units.





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Affordable housing a matter of supply




Creating affordable housing is a complex issue but, as the population of Saskatchewan swells, it is becoming ever more pressing. There is no single measure that can solve the problem so, in order to alleviate the issue, the public and private sectors must work together to devise a multi-faceted solution.





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Saskatchewan housing starts highest in 33 years




REGINA ` The last time housing starts were this high in the province, Margaret Thatcher had just been elected the first woman PM in British history, the Soviets invaded Afghanistan and Iranian students were taking over the U.S. embassy in Tehran.That`s right, Saskatchewan posted the highest number of housing starts since 1979 last year, as urban and rural housing starts in the province totalled 9,968 units in 2012, according to a recent Canada Mortgage and Housing Corp. (CMHC) report. The report also indicated that urban housing starts in Saskatchewan increased 40 per cent in 2012 compared to 2011, placing Saskatchewan first among the provinces in terms of percentage change. In December, urban housing starts increased by 70.7 per cent compared to December 2011, the second-highest percentage increase among the provinces.





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