February 2015 Maritimes Economic Fundamentals

Ally

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#2
Housing starts and sales in Atlantic Canada stabilize

HALIFAX, NOVA SCOTIA--(Marketwired - Feb. 6, 2015) - According to Canada Mortgage and Housing Corporation's (CMHC's) Quarterly Housing Market Outlook - Atlantic report, housing starts in Atlantic Canada are expected to slow four per cent in 2015 and two per cent in 2016 after double digit declines reported in 2014.

"Moderate economic growth and net migration gains will stabilize housing starts and sales in Atlantic Canada in 2015 and 2016," said Alex MacDonald, Regional Economist with CMHC's Atlantic Business Centre. "Private sector investment and an improving economic outlook will support growth in house prices of one per cent by 2016 with relatively stable MLS[sup]®[/sup] sales activity," added MacDonald.

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Ally

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#3
Avison Young opens new office in New Brunswick

TORONTO , Feb. 6, 2015 /CNW/ - Mark E. Rose , Chair and CEO of Avison Young , the world's fastest-growing commercial real estate services firm, announced today the opening of a new office in Moncton, New Brunswick to expand the company's market presence in Atlantic Canada .

The newest Canadian office represents Avison Young's second location in the Maritimes, 16th office in Canada , 60th office in North America , and an additional step in the firm's ongoing aggressive growth strategy

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Ally

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#4
New supply of apartments in St. John the reason for vacancy rate increase

The apartment vacancy rate in St. John’s is rising, but don’t expect rents to come down.

Chris Janes, senior market analyst for the Canada Mortgage and Housing Corp. (CMHC) in St. John’s, says an increase in supply has driven the vacancy rate up in St. John’s to 4.2 per cent as of October, up from 3.2 per cent in October 2013. In the broader census metropolitan area (CMA), the vacancy rate is 4.6 per cent as of October, up from 3.2 per cent a year earlier.

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Ally

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#5
Statistics show N.B., N.S. experiencing more deaths than births

MONCTON – New numbers from Statistics Canada show that for the first time last year, New Brunswick recorded more deaths than births.

While the numbers are still considered estimates, they show that in 2013-14, 6,835 people died in the province, while 6,826 babies were born.

Birth rates have been dropping for years, and it was expected New Brunswick would soon reach this milestone, of sorts.

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