May 2014 Prairie Economic Fundamentals

Ally

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#2
Why Regina has seen the steepest home price declines this year





Regina is the only major city where prices have fallen since the end of last year, according to the Canadian Real Estate Association`s home price index. Ottawa prices have fallen slightly on the index over the past 12 months.





`In the last six to eight months we`re certainly starting to see a little bit of a downward trend in pricing,` says Mike Duggleby, a local realtor with Royal LePage. `The house you sold last year for this price is probably going to be a little bit less this year.`





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Ally

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#3
Winnipeg passes housing policy despite citizen's concerns


Council unanimously passed the city`s Housing Policy Implementation Plan Wednesday, despite concerns expressed by a citizen.





The plan follows the approval of the city`s Housing Policy last September that identified the lack of affordable housing being developed in Winnipeg as an important issue. It also said the city would work with other levels of government, housing developers, and community organizations to address the housing shortage.





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Ally

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#4
Winnipeg passes housing policy despite citizen's concerns





Council unanimously passed the city`s Housing Policy Implementation Plan Wednesday, despite concerns expressed by a citizen.





The plan follows the approval of the city`s Housing Policy last September that identified the lack of affordable housing being developed in Winnipeg as an important issue. It also said the city would work with other levels of government, housing developers, and community organizations to address the housing shortage.





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Ally

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#5
Average rent in Saskatoon nearly doubles over past decade





Donald Kay admits it's tough to scrape together enough money for the first of the month.





He and his wife and grandson and several other family members recently moved into a three-bedroom house on Avenue H South, where rent is more than $1,300 a month.





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Ally

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#6
New housing prices decline in Saskatoon, starts up





OTTAWA ` Two reports came out Thursday looking at the state of new housing prices and starts in Saskatoon.





The first report from Statistics Canada found the price of a new home dropped 0.1 per cent in March.





StatsCan said the price decline was the result of lower list prices and negotiated selling prices.





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Ally

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#7
Saskatchewan marks lowest unemployment rate on record





Saskatchewan has broken a record when it comes to unemployment rates but it may not be a great sign.





In the employment numbers for April 2014, Saskatchewan reported an unemployment rate of 3.4 per cent, a huge drop from 4.5 per cent in March. It's the lowest unemployment rate in Canada by far. According to the government of Saskatchewan, it's the lowest unemployment rate ever recorded since data started being collected in 1976.





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Ally

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#8
Manitoba seeing net loss of 200 jobs over last year





Manitoba`s unemployment rate has climbed to 5.9 per cent after the provincial economy posted a net loss of 1,900 jobs ` all of them full-time positions ` in April, new Statistics Canada data shows.





In its April Labour Force Survey report released today, the agency said the Manitoba economy actually shed about 3,900 full-time positions during the month. But those losses were offset by a gain of about 1,800 new part-time jobs, leaving a net loss (rounded off) of 1,900 after taking into account that another 400 workers also dropped out of the labour force.





April`s losses followed the disappearance of 2,100 jobs in March. Most of them were part-time positions.








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Ally

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#9
Regina home sales surge in April





REGINA ` A surge in the second half of April boosted home sales by 16 per cent ` the first time this year monthly sales exceeded 2013 levels ` although listings remain at a 10-year high, said the Association of Regina Realtors in its monthly report Friday.





In April, 393 sales were reported on the multiple listing service (MLS) in the Regina area, which was above both the five-year average of 371 and the 10-year average of 346. There were 318 sales reported in the city, an increase of 14 per cent over April 2013.





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Ally

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#10
80 Purpose-Built rentals approved for Saskatoon





To help deal with the lack of rental units in Saskatoon, the City has approved funding that will see 80 "purpose built units" in the Evergreen neighbourhood.





Tuesday the Planning and Operations Committee approved $381-thousand in funding for the construction of the units that will be located at 402 Manek Road.





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Ally

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#11
Rising construction costs threaten Regina's reputation as a low-cost city





REGNA ` SGI`s decision to cancel a request for proposals for a new office building is ` a bit of an eyeopener` for Regina, which has long prided itself as having low costs for office space, a veteran commercial realty executive says.





`The cost of construction has changed our marketplace,` said Richard Jankowski, managing director of Avison Young Commercial Real Estate (Sask) Inc.





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Ally

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#12
Manitoban fleeing province at highest rate since 2006





Manitoba suffered the largest exodus of people to other provinces in seven years last year, posting a net inter-provincial deficit of 4,465 people, according to recent figures published by the Manitoba Bureau of Statistics.





It was the largest loss of people to greener pastures in other parts of Canada since 2006, when Manitoba lost a net 7,277 people.





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