May 2015 Maritimes Economic Fundamentals

Ally

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#2
Halifax home prices increase in the first quarter of 2015


HALIFAX, April 15, 2015 /CNW/ - The Royal LePage House Price Survey released today showed increases in the price for all housing types in Halifax during the first quarter of the year.



The average price of a standard condominium increased 5.0 per cent year-over-year to $230,000 continuing the trend seen at the end of last year. Standard two-storey homes jumped by 2.7 per cent to $334,667 and detached bungalows increased modestly by 0.7 per cent to $297,667





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Ally

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#3
Five things to know in P.E.I. as votes go to the polls on May 11th

UNKNOWN QUANTITIES: This is the first provincial election campaign for the four party leaders. The province's politics have historically been dominated by the Liberals and Progressive Conservatives. Wade MacLauchlan took over the leadership of the Liberals and became premier in February, the same month that Rob Lantz became Tory leader. This is also the first time Peter Bevan-Baker of the Greens and the NDP's Mike Redmond have led their parties in an election campaign

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#4
Halifax: Canada's next real estate investment hotspot?

The capital of Nova Scotia is showing all the signs of an imminent property boom, says a study by Landcorp International. The investment specialist drew the conclusion after looking at the city of St John’s in the neighbouring province of Newfoundland. St John’s has enjoyed dramatic increases in property values over the last 10 years, a surge the report set out to analyse.

It found that the boom had been preceded by massive investment in huge industrial projects in Newfoundland. Projects initiated at this time included, among others, the Hebron Offshore Oil Development, Muskrat Falls Hydroelectric Generation Facility and the Vale Long Harbour Nickel Processing Facility, worth a total of $27.5 billion.

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Ally

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#5
Liberals cruise to easy victory in P.E.I. election

CHARLOTTETOWN —Rookie politician Wade MacLauchlan has led his Liberal party to a majority victory in Prince Edward Island, where voters decided Monday to grant a third consecutive term to a government repeatedly accused during the campaign of undermining public trust.

The Liberals saw their majority slightly reduced from the 20 seats they held before the election, taking 18 seats to eight for the Tories and one for the Greens, marking a historic first for the third party.


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Ally

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#6
P.E.I premier announces new cabinet

P.E.I. Premier Wade MacLauchlan’s Liberal government got a fresh coat of paint Wednesday with a new cabinet and newly reconfigured government ministries.

MacLauchlan’s cabinet is a mixture of new and old with a total of nine ministers, including the premier. This is just one more than the minimum permitted under the Executive Council Act and two fewer than cabinets appointed by former Liberal Premier Robert Ghiz.

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#7
Water reservoir for Saint-Andre totals $1.3 million

SAINT-ANDRÉ (GNB) – A $1.3 million water reservoir project was announced today in Saint-André under the Small Communities Fund.

“A new water reservoir will ensure a safe and sustainable water supply for this community,” said Victoria-La-Vallée MLA Chuck Chiasson. “This project supports infrastructure improvements and job creation in partnership with all levels of government.”

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#8
Housing starts to be mixed in Charlottetown

According to Canada Mortgage and Housing Corporation's (CMHC's) Spring Housing Market Outlook - Charlottetown report, total housing starts in Charlottetown are expected to rise slightly in 2015, followed by a moderate decline in 2016.

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#9
Housing construction in Halifax to increase in 2015


HALIFAX, NOVA SCOTIA--(Marketwired - May 25, 2015) - According to Canada Mortgage and Housing Corporation's (CMHC's) Spring Housing Market Outlook - Halifax report, residential construction in the city is expected to increase in 2015 and remain stable in 2016.

"Multiple starts are forecast to take the lion's share of construction activity in both 2015 and 2016, as the low vacancy rate in new buildings and favourable interest rates stimulate construction activity in the Halifax CMA," said Guillaume Neault, Principal, Market Analysis with CMHC's Atlantic Business Centre.

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Ally

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#10
Housing starts to decline in New Brunswick in 2015 and 2016

MONCTON, NEW BRUNSWICK--(Marketwired - May 25, 2015) - According to Canada Mortgage and Housing Corporation's (CMHC's) Spring Housing Market Outlook - Saint John, Moncton and Fredericton report, residential construction activity in New Brunswick's large urban centres is forecast to produce fewer starts in both 2015 and 2016.

"Rising out-migration, due to weak economic growth, combined with persistently high vacancy rates and increasing competition for new single-detached homes from the existing home markets, will slow construction activity in large urban centres in 2015 and 2016," said Claude Gautreau, Senior Market Analyst with CMHC's Atlantic Business Centre. A gradual deceleration in the pace of rental market expansion in the larger urban centres, particularly in Fredericton and Moncton, will limit upward pressure on the vacancy rate.




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Ally

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#11
Welcome to Halifax's new condo market

It’s a condo conundrum. Do you go downstairs to use the indoor pool or get some exercise on the full-size indoor track? Actually, maybe a brisk stroll through the shops below is considered cardio. But don’t forget there’s also cocktails on the sixth-floor terrace with the neighbours later. Or maybe you’ll just grab a bottle of Opus One 2008 from the built-in under-the-counter wine cellar and spend the night in, gazing out at the unspoiled, undeveloped view.

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