- Joined
- Aug 31, 2007
- Messages
- 168
Hi Everyone,
Don mentioned at last Thursday's REIN ON meeting a small thing that has changed the course of Halifax's RE Investment market - a $25 billion ship building contract! Like I said, just a small thing!
Irving
Shipbuilding, Halifax Shipyard was awarded the main combat contract
under the National Shipbuilding Procurement Strategy ` this happens to
be the largest government contract ever awarded. Way to go Halifax.
The economic implications of this contract will be HUGE for the
province, but not limited to Nova Scotia. The ripple effect will create
profound benefit to the entire Canadian economy ` from coast to coast.
According to the Greater Halifax Partnership, the contract will mean a peak of:
* 11,500 jobs
* over $540 million in personal income
* Over $350 million in federal, provincial and local tax revenue
Those of us who follow a system based on solid economic fundamentals
know that the demand for real estate in Halifax will increase. This is
based on the micro and macro economic forces that drive market values
such as job growth, in-migration of people, an increase in average
incomes and increased rental demand. The cycle that will lead to increased property prices takes between 12-24 months to happen. The key factor in getting this to start is GDP and job growth. Halifax has just secured both.
This cycle is exactly the one that the REIN team have been telling us all about for quite a few months now.
It`s going to be a very interesting few months for investors. You will no doubt witness speculative investors rushing into the market place to buy properties at inflated prices based on yesterday`s announcement, despite no actual jobs being created (yet!). Fundamentally, nothing has changed from last month.
If you want to know anything about the Halifax market as well as the areas that will have the influx of renters then contact me about the opportunities we have.
We have also just been in the December edition of the Canadian Real Estate magazine talking about 3 of these hotspots - 2 are in the main feature and another one in the roundup section.
Don mentioned at last Thursday's REIN ON meeting a small thing that has changed the course of Halifax's RE Investment market - a $25 billion ship building contract! Like I said, just a small thing!
Irving
Shipbuilding, Halifax Shipyard was awarded the main combat contract
under the National Shipbuilding Procurement Strategy ` this happens to
be the largest government contract ever awarded. Way to go Halifax.
The economic implications of this contract will be HUGE for the
province, but not limited to Nova Scotia. The ripple effect will create
profound benefit to the entire Canadian economy ` from coast to coast.
According to the Greater Halifax Partnership, the contract will mean a peak of:
* 11,500 jobs
* over $540 million in personal income
* Over $350 million in federal, provincial and local tax revenue
Those of us who follow a system based on solid economic fundamentals
know that the demand for real estate in Halifax will increase. This is
based on the micro and macro economic forces that drive market values
such as job growth, in-migration of people, an increase in average
incomes and increased rental demand. The cycle that will lead to increased property prices takes between 12-24 months to happen. The key factor in getting this to start is GDP and job growth. Halifax has just secured both.
This cycle is exactly the one that the REIN team have been telling us all about for quite a few months now.
It`s going to be a very interesting few months for investors. You will no doubt witness speculative investors rushing into the market place to buy properties at inflated prices based on yesterday`s announcement, despite no actual jobs being created (yet!). Fundamentally, nothing has changed from last month.
If you want to know anything about the Halifax market as well as the areas that will have the influx of renters then contact me about the opportunities we have.
We have also just been in the December edition of the Canadian Real Estate magazine talking about 3 of these hotspots - 2 are in the main feature and another one in the roundup section.