July 2014 B.C. Economic Fundamentals

Ally

Research Assistant
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Mar 24, 2009
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#21
Penticton real estate sales up nearly $50 million this year





Property sales in the Penticton area were up by nearly half through the first six months of the year, an increase one local realtor attributes to an influx of out-of-town buyers.





Sales of properties totalled $145.8 million through the first half of 2014, up from $99 million during the same period a year earlier, according to statistics compiled by the South Okanagan Real Estate Board.





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Ally

Research Assistant
Registered
Mar 24, 2009
16,745
70
48
Langley
#22
Labour shortage in BC





The mainstream media are finally waking up to something unusual in British Columbia ` a labour shortage.





If the experience of Alberta is a guide to our own future, the highly skilled labour will disappear first. The newspapers and radio are already talking about a shortage of welders and machinists. Then the semi-skilled labour and finally the low skilled labour will be recruited to the oil and gas projects.





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Ally

Research Assistant
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Mar 24, 2009
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Langley
#23
BC only province to see dip in retail sales





Total retail sales in British Columbia dipped slightly from April to May, making it the only province in the country that didn`t see growth over this period, according to Statistics Canada data released July 23.











Retail sales in B.C. declined by 0.1% to $5.5 billion in May after increasing 1.6% in April.





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Ally

Research Assistant
Registered
Mar 24, 2009
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Langley
#24
BC's home sales heat up in June





The rise in June of home sales and prices for the third straight month shows that the grill isn't the only thing to heat up in B.C. this summer.











Provincial here.
 

Ally

Research Assistant
Registered
Mar 24, 2009
16,745
70
48
Langley
#25
Vancouver rises to new heights





VANCOUVER ` Vancouver in recent years has risen to the top tier of the world`s cities with the largest number of skyscrapers.





According to skyscraperpage.com, Vancouver is listed ninth in the world with a total of 663 highrises. That number becomes more intriguing, however, when you compare the populations of the cities on the list, which include the likes of New York City (No. 1 with 5,894 highrises and a population of 8.17 million), and Toronto (No. 2 with 2,005 highrises and a population of 2.61 million).







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Ally

Research Assistant
Registered
Mar 24, 2009
16,745
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48
Langley
#26
Real estate prices reach tipping point, touching off cascade of sales in Richmond





For many commercial property owners in Richmond`s No 3. Road corridor, the time to sell has arrived, if recent real estate activity along the busy retail and commercial strip is any indication.





In commercial realtor Bal Atwal`s view, it kind of started with the sale of an IHOP restaurant at the corner of Park Road and No. 3 Road, which went for a price-per-square foot `that was pretty high,` and caught the attention of other owners, who`ve since decided to become sellers.







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Ally

Research Assistant
Registered
Mar 24, 2009
16,745
70
48
Langley
#27
Northwest towns eye billions in revenue from resource boom





Northwest B.C. municipal governments formed an alliance Tuesday to help negotiate for billions in potential revenues from an expected resource boom in their region.





The B.C. government is banking on projects to export liquefied natural gas (LNG) overseas to growing Asian markets to help fuel a so-called $100-billion prosperity fund in the next three decades.










Read the full article here.