June 2015 Prairie Economic Fundamentals

Ally

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#2
Regina downtown office space vacancies don't worry mayor

REGINA — After four years of building, Regina now has downtown office space sitting empty.

Regina’s downtown office vacancy level has gone from the lowest in Canada (1.5 per cent) in 2012, to above the national average today (11-13 per cent).

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Ally

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#3
One person's rhetoric is another person's Goldmine

Saskatchewan Energy Minister Bill Boyd says Canadian oil and gas companies are choosing his province over Alberta for investment in exploration and production because of the new Alberta NDP government’s promise to review Crown royalty rates.

But he stopped short of calling the review a mistake during an interview with reporters after giving a speech to attendees of the Global Petroleum Show in Calgary on Wednesday. Nor would he guarantee that Saskatchewan will never change its royalty rates.

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Ally

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#4
Oil slump leads to more apartment vacancies in Alberta, Saskatchewan

It was a lot easier to rent an apartment in the oil-producing provinces of Alberta and Saskatchewan in April, the Canada Mortgage and Housing Corporation reported Monday.

According to CMHC's spring rental market survey, the rental apartment vacancy rate in Alberta's urban centres almost doubled to 3.4 per cent, compared to 1.8 per cent in April 2014.

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Ally

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#5
April 2015 rental market in Manitoba

The rental apartment vacancy rate(1) in Manitoba's urban centres(2) was 2.3 per cent in April 2015 compared to 2.1 per cent in April 2014, according to the Spring Rental Market survey released today by Canada Mortgage and Housing Corporation (CMHC).

"A higher level of migration, mostly from international sources, continues to support demand for rental units in Manitoba. Contributing to an uptick in the vacancy rate, the universe of rental apartment units increased by 1,586 from April 2014 to April 2015, the result of additions outpacing the loss of units due to renovation or conversion to condominium", noted Dianne Himbeault, CMHC Senior Market Analyst for Winnipeg.

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Ally

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#6
April 2015 rental market in Saskatchewan

The rental apartment vacancy rate(1) in Saskatchewan's urban centres(2) was 5.6 per cent in April 2015, up from 3.3 per cent in April 2014, according to the Spring Rental Market survey released today by Canada Mortgage and Housing Corporation (CMHC).

"Lower oil prices have slowed economic growth in Saskatchewan. A reduction in capital investment expenditures in the oil and gas industry has also reduced employment growth and the inflows of migrants. Further, an increase in the purpose-built rental universe also contributed to higher vacancies", said Goodson Mwale, CMHC's Senior Market Analyst for Saskatchewan.

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Ally

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#7
Vacancy rate for Saskatoon apartments increases

SASKATOON – There are more two-bedroom apartments for rent in Saskatoon and rents are higher, according to Canada Mortgage and Housing Corporation (CMHC). Its spring rental market survey released on Monday found the vacancy rate for a two-bedroom apartment rose 1.6 percentage points to 4.6 per cent in April 2015 when compared to April 2014.

Within structures common to both surveys, the average rent for a two-bedroom apartment increased 3.4 per cent in Saskatoon.

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Ally

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#8
Rents same as more Regina apartments become available

The amount of available apartments in Regina is growing, but that's not necessarily translating into an easier time for those in the city looking to rent.

Statistics from Canada Mortgage and Housing Corporation (CMHC) indicate the vacancy rate in the Queen City is now at 4.8 per cent as of April.

Read the full article here.