January 2014 BC Economic Fundamentals

[Ally]

Terrace real estate feeling the pinch of low vacancies





If you're trying to find an apartment to rent in Terrace, you know by now that it's a hard task-- more so than anywhere else in BC.








That's because a report released last month by the Canadian Mortgage and Housing Corporation shows that Terrace's vacancy rate was sitting at zero percent.





Read the full article here.

 

[Ally]

BC's multibillion dollar path to an energy powerhouse





Rejean Tetrault is happy to be warming up in `the doghouse.`








It`s minus 25 C, but the operations manager for Shell Canada Ltd. is shielded inside a steel shed on a barren stretch of northeastern British Columbia. Other Shell employees and contractors, wearing ski masks under their hard hats, take their positions in the control room and on the drilling floor.





Read the full article here.

 

[Ally]

The dawn of Fort St. John





Rejean Tetrault is happy to be warming up in "the doghouse."





It's minus 25 C, but the operations manager for Shell Canada Ltd. is shielded inside a steel shed on a barren stretch of northeastern British Columbia. Other Shell employees and contractors, wearing ski masks under their hard hats, take their positions in the control room and on the drilling floor.





Read the full article here.

 

[Ally]

Kelowna Airport celebrates new service with WestJet Encore





Kelowna International Airport and WestJet Encore recently celebrated the new daily non-stop flight between YLW and Fort McMurray, AB (YMM).







The service is designed to meet the needs of the growing number of Okanagan residents who commute to Fort McMurray to work in the Alberta oil sands.





Read the full article here.

 

[Ally]

BC wages set to surge from LNG boom - and inflation may not be far behind





Canada`s currency has been banged up, showing its dents now at 90 cents to the U.S. dollar. Noteworthy domestic reasons for the dollar`s retreat include a lack of giddy-up (gross domestic product) and limp inflation numbers. But these are not universal themes across Canada. For one thing, worker wages in British Columbia are showing signs of inflating quite rapidly.





Read the full article here.

 

[Ally]

Brentwood mall redevelopment to include 10 towers up to 60 stories tall





The redevelopment`s conceptual master plan was approved by Burnaby City Council in September 2013 and will transform the mall site into a dense, highly active and animated walkable urban neighbourhood and entertainment district.





This project is a major step towards the City`s long-term vision of creating a town centre around Brentwood Town Centre Station, very much like the development and mega-sized mall that has sprung around Metrotown Station. Burnaby has implemented transit-oriented policies, taking full advantage of the SkyTrain routes to cross the city ` to ensure much of its population and job growth is sustainable.





Read the full article here.

 

[Ally]

Vancouver real estate shows thriving luxury market





The luxury home market powered ahead in Vancouver last year, fuelled in part by redevelopment of teardowns by builders in prime, or upcoming neighbourhoods, according to a new study by RE/MAX looking at upper-end real estate trends across Canada.





Read the full article here.

 

[Ally]

Kitimat smelter operator to house temporary workers on cruise ship





A luxurious cruise ferry that boasts a sailor`s pub, casino and dance floor is on its way from the Baltic Sea to Kitimat, on B.C.`s north coast, where it will help relieve a growing housing crisis.





Joanne Monaghan, mayor of the booming resource town, said she`s looking forward to seeing the gleaming, 11-deck ship tied up in a working port that is more commonly used by bulk freighters and barges.





Read the full article here.

 

[Ally]

Experts cautious over price increase prediction





Metro Vancouver house prices will increase by an average of 4.4 per cent this year to $801,000, according to the latest Royal LePage house price survey.





But Vancouver real estate experts suggested Thursday the forecast might be slightly optimistic.










Read the full article here.