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June 2013 Maritime Economic Fundamentals

Ally

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News articles for June 2013.
 

Ally

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Firm behind proposed Nova Scotia LNG terminal signs deal to supply German utility




HALIFAX - Pieridae Energy Canada has signed a 20-year agreement with a German utility company that would buy liquefied natural gas from a proposed export facility in northeastern Nova Scotia.




The deal would see E.ON Global Commodities SE purchase about five million tonnes of liquefied natural gas annually from a development that Pieridae has proposed for Goldboro, N.S.





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Halifax housing market 'pretty stable'




Although Nova Scotia`s housing market is expected to have a greater decline this year than the national average, one real-estate expert said Halifax is staying `pretty stable.`




The Canadian Real Estate Association`s latest report released in April shows the year to date sales activity in Halifax (down 28.9 per cent) as much lower than the national average of 10.3 per cent.





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No easy solution to development changes, Halifax mayor says





City hall wants more people living downtown, even though there`s debate over how far the regional plan should go to achieve that, Mayor Mike Savage said Wednesday.




The mayor told a Downtown Halifax Business Commission luncheon that he is committed to having more growth in the urban core. But Savage also said he gets `strong suggestions` from suburban and rural residents who want better infrastructure and services in their areas.





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Deep Panuke seen as Nova Scotia economic driver




The billion-dollar Deep Panuke natural gas project will play a significant role in Nova Scotia`s economy in 2013-14, says the Conference Board of Canada.




`It is a fairly large project,` said Marie-Christine Bernard in an interview from Ottawa. She oversaw the board`s spring provincial outlook released Wednesday,





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Newfoundland and Labrador expected to lead Canada's economic growth





Newfoundland and Labrador is on pace to economically outperform all provinces this year and next, according to new research released Wednesday by the Conference Board of Canada.




Oil production in the province is expected to jump by more than 12% in 2013, pushing its growth an expected 6.1%.





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Vacancy rates mixed in Nova Scotia




According to Canada Mortgage and Housing Corporation's (CMHC) Spring Rental Market Survey, the overall vacancy rate in Nova Scotia's urban centres was unchanged in April 2013 at 3.4 per cent.




"Vacancy rates in urban centres in Nova Scotia were mixed in the spring of this year," said Tim Andrews, market analyst with CMHC's Atlantic Business Centre. "In Halifax, positive migration patterns and some shifting demand towards rental were offset by modest amounts of new supply entering the market, resulting in a statistically unchanged vacancy rate this year."







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Newfoundland vacancy rate decreases






ST. JOHN'S, NEWFOUNDLAND AND LABRADOR--(Marketwired - June 20, 2013) -
According to Canada Mortgage and Housing Corporation's (CMHC) Spring Rental Market Survey, the overall vacancy rate in Newfoundland decreased to 1.7 per cent in April 2013, compared to 2.7 per cent last year.


The St. John's rental market vacancy rate was 1.5 per cent in April 2013 compared to 3.3 per cent in April 2012. "Current house prices, paired with population growth and a strong economy, supported rental market demand during the survey period and slowed the movement from renter households to homeownership. This contributed to the decrease in the vacancy rate throughout the St. John's area," said Chris Janes, senior market analyst with CMHC in Newfoundland and Labrador.





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PEI vacancy rate up






MONCTON, NEW BRUNSWICK--(Marketwired - June 20, 2013) -
According to Canada Mortgage and Housing Corporation's (CMHC) Spring Rental Market Survey, the overall vacancy rate in Prince Edward Island's urban centres was 7.8 per cent in April 2013, compared to 4.8 per cent last year.




Among the two major urban centres in the province, Charlottetown posted the highest vacancy rate at 8.7 per cent. "In 2013, the overall vacancy rate for the province's urban centres was impacted by recent higher than average rental market construction activity particularly in the Charlottetown area," said Jason Beaton, CMHC's market analyst for Prince Edward Island.





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Vacancy rates up in New Brunswick






MONCTON, NEW BRUNSWICK--(Marketwired - June 20, 2013) -
Results from Canada Mortgage and Housing Corporation's (CMHC) 2013 Spring Rental Market Survey released today indicate that the overall vacancy rate for apartment units in New Brunswick's urban centres stood at 7.6 per cent in April 2013, compared to 6.2 per cent a year ago.




"Higher vacancy rates recorded in New Brunswick's three large urban centres - Fredericton, Moncton and Saint John - led to the overall vacancy rate increase in April of 2013 as the combined rental stock in these markets accounts for over 85 per cent of the provincial total," said Claude Gautreau, CMHC's senior market analyst for New Brunswick. The vacancy rate in Fredericton was the lowest among the province's large urban centres at 5.2 per cent. In both Moncton and Saint John, the vacancy rates were higher at 7.4 and 10.4 per cent, respectively.





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