July 2014 Maritime Economic Fundamentals

Ally

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#2
Halifax housing market picks up steam after long slump





The city saw home prices rise 3.1 per cent in May, the largest monthly gain in its history, according to the Teranet-National Bank home price index. That comes after a 0.7 per cent increase in April.





Prices are still lower than they were a year earlier, but there is some optimism that the increase could mark the start of a turnaround.





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#3
N.S. training groups hail news of job grant deal





Staff at many workplace training organizations across the province are breathing a sigh of relief after Monday`s announcement of the new Canada Jobs Grant program.





Organizations had been on tenterhooks, waiting to hear details of a new joint federal-provincial strategy that would replace parts of the previous labour market agreement. Many feared the loss of their funding.





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Ally

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#4
Halifax home prices show slight growth in second quarter





HALIFAX, July 9, 2014 /CNW/ - The Royal LePage House Price Survey and Market Survey Forecast released today showed stable year-over-year prices across all housing types surveyed in Halifax.





The average price of a detached bungalow increased by 1.2 per cent year-over-year to $292,167, and the price of the average standard condominium also saw a slight lift of 0.7 per cent to $217,500. Standard two-storey homes were the only category to experience a price decrease, dropping by 1.8 per cent to $327,300.





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#5
Governments of Canada and Newfoundland finalize agreements to help Newfoundlanders and Labradorians get jobs





July 7, 2014 ` St. John`s, Newfoundland and Labrador ` Employment and Social Development Canada





Three agreements have been signed today by the Governments of Canada and Newfoundland and Labrador to help address the labour market needs of individuals, communities and employers across the province. Scott Armstrong, Parliamentary Secretary to the Minister of Employment and Social Development, on behalf of the Honourable Jason Kenney, Minister of Employment and Social Development, along with the Honourable Kevin O`Brien, Minister of Advanced Education and Skills, today signed agreements that will help meet labour market demands and assist older workers and persons with disabilities connect to available jobs.





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Ally

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#6
Record inventory levels create a buyer's market in Moncton





MONCTON, NB, July 9, 2014 /CNW/ - The Royal LePage House Price Survey and Market Survey Forecast released today showed varied pricing activity among housing types surveyed in Moncton.





Standard two-storey homes posted strong year-over-year increases of 6.3 per cent to $152,302. In contrast, detached bungalow prices saw a moderate drop of 2.2 per cent to $149,648.





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Ally

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#7
Halifax housing starts up





Housing starts in metropolitan Halifax were trending at 1,047 units in June, compared with 881 in May, says new Canada Mortgage and Housing Corp. data released Wednesday.





The trend is a six-month moving average of the monthly seasonally adjusted annual rates of housing starts.





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Ally

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#8
New Brunswick's unemployment rate falls below 10%





New Brunswick saw its unemployment rate fall below the 10.0 per cent threshold for the first time in four months with a drop of 0.6 percentage points in June.





Statistics Canada's monthly labour force survey for June puts the province's unemployment rate at 9.6 per cent, down from 10.2 per cent in May.





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Ally

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#9
Halifax house prices flat





Housing prices in Halifax are stable, says Royal LePage.





The Royal LePage House Price Survey and Market Survey Forecast released Wednesday showed stable year-over-year prices across all housing types surveyed in Halifax.





`Elevated inventory levels have kept prices relatively flat across all housing types,` Matt Honsberger, a broker with Royal LePage Atlantic
, said in a news release.





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Ally

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#10
Michelin workers contribute to Valley real estate boom





The impact of a major redistribution of workers with Michelin North America (Canada) Inc. in Nova Scotia is beginning to show in parts of the province.





Last March, employees at Michelin's Granton plant in Pictou County learned 500 positions would be cut.





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#11
WestJet Encore announces Fredericton service, first Maritime destination





CALGARY - WestJet announced the first Maritime destination for its regional service Encore on Monday, offering non-stop service between Toronto and Fredericton, New Brunswick starting April 15, 2015.





Fredericton is the first destination east of Toronto for Encore, WestJet`s Bombardier Q400 turboprop service. Encore launched in Western Canada in June 2013, operating 10 departures daily to two destinations with two aircraft. Today, Encore operates 90 departures daily to 19 destinations with 12 aircraft. In June, it moved into Eastern Canada for the first time with service between Toronto and Thunder Bay, Ont.





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Ally

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#12
Halifax office vacancy at peak





Halifax`s office market is being weakened as new supply exceeds current demand, according to a new study by Turner Drake & Partners Ltd
.





`The bottom line is, something`s got to give,` Alexandra Baird Allen, senior manager of Turner Drake`s economic intelligence unit, said in an interview Tuesday.





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Ally

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#13
Halifax homebuyers put off by high prices and rising rates





Rising house prices, the prospect of higher interest rates, and difficulty in raising a deposit are rapidly putting people off buying a house according to Halifax.





A survey by the lender identified a sharp drop in the number of people who felt that it would be a good time to buy a house over the next 12 months ` to a balance of +5% in the second quarter, from +34% in the first quarter. The trend was most pronounced in the property hotspots of London and the south east.





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