October 2012 Maritimes Economic Fundamentals
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Halifax losing its youth, new report reveals
An annual report on the state of affairs in Halifax suggests the city is headed at full steam for a future as an old folks home.
The 2012 Halifax Vital Signs report, due for release Tuesday morning, reveals several disturbing trends indicating university graduates, new immigrants and young families are hightailing it out of town.
Among the most notable is the drop in population of people under the age of 15, which nosedived by more than five times the national average between 2001 and 2011.
Read the full article here.
An annual report on the state of affairs in Halifax suggests the city is headed at full steam for a future as an old folks home.
The 2012 Halifax Vital Signs report, due for release Tuesday morning, reveals several disturbing trends indicating university graduates, new immigrants and young families are hightailing it out of town.
Among the most notable is the drop in population of people under the age of 15, which nosedived by more than five times the national average between 2001 and 2011.
Read the full article here.
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St. John's house prices post strong year over year gains in third quarter
ST. JOHN'S, Oct. 3, 2012 /CNW/ - The Royal LePage House Price
Survey released today showed strong year-over-year price increases among all housing categories in St. John's.
Detached bungalows increased 9.9 per cent year-over-year to $264,167, while standard condominiums posted similar gains growing 9.2 per cent year-over-year to $281,333. Standard two-storey homes increased 8.2 per cent year-over-year to 357,000.
Read the full article here.
ST. JOHN'S, Oct. 3, 2012 /CNW/ - The Royal LePage House Price
Survey released today showed strong year-over-year price increases among all housing categories in St. John's. Detached bungalows increased 9.9 per cent year-over-year to $264,167, while standard condominiums posted similar gains growing 9.2 per cent year-over-year to $281,333. Standard two-storey homes increased 8.2 per cent year-over-year to 357,000.
Read the full article here.
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Price appreciation witnessed across all housing types in Halifax
HALIFAX, Oct. 3, 2012 /CNW/ - The Royal LePage House Price Survey released today showed strong year-over-year price appreciation for detached bungalows in Halifax, while standard two-storey homes and standard condominiums made modest gains.
The average price of detached bungalows in Halifax increased 8.9 per cent to $293,000 over the third quarter of last year, while the average price for standard two-storey homes was up 3.7 per cent to $311,000. The average price for standard condominiums increased 3.1 per cent year-over-year to $202,000.
"Halifax's strong employment levels, growing demand from a variety of buyers and promising local economy continue to drive our real estate market," states Matt Honsberger, broker of Royal LePage Atlantic. "Inventory levels have decreased slightly from this time last year, yet market activity remains in line with quarterly expectations."
Read the full article here.
HALIFAX, Oct. 3, 2012 /CNW/ - The Royal LePage House Price Survey released today showed strong year-over-year price appreciation for detached bungalows in Halifax, while standard two-storey homes and standard condominiums made modest gains.
The average price of detached bungalows in Halifax increased 8.9 per cent to $293,000 over the third quarter of last year, while the average price for standard two-storey homes was up 3.7 per cent to $311,000. The average price for standard condominiums increased 3.1 per cent year-over-year to $202,000.
"Halifax's strong employment levels, growing demand from a variety of buyers and promising local economy continue to drive our real estate market," states Matt Honsberger, broker of Royal LePage Atlantic. "Inventory levels have decreased slightly from this time last year, yet market activity remains in line with quarterly expectations."
Read the full article here.
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September 2012 Housing starts in Halifax
HALIFAX, NOVA SCOTIA--(Marketwire - Oct. 9, 2012) - Housing starts in Halifax, Census Metropolitan Area (CMA) were trending at 2,791 units in September, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six month moving average of the monthly seasonally adjusted annual rates (SAAR) [sup]1[/sup] of housing starts. The standalone monthly SAAR was 4,698 units in September, down from 5,159 in August.
"After three quarters of the year, total housing starts activity was mixed in Halifax as single starts remain higher than last year and multiple starts continue to track lower," said Matthew Gilmore, CMHC's Senior Market Analyst for Halifax. "Despite the year-to-date declines, apartment construction remains strong in historic terms," added Gilmore.
Read the full article here.
HALIFAX, NOVA SCOTIA--(Marketwire - Oct. 9, 2012) - Housing starts in Halifax, Census Metropolitan Area (CMA) were trending at 2,791 units in September, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six month moving average of the monthly seasonally adjusted annual rates (SAAR) [sup]1[/sup] of housing starts. The standalone monthly SAAR was 4,698 units in September, down from 5,159 in August.
"After three quarters of the year, total housing starts activity was mixed in Halifax as single starts remain higher than last year and multiple starts continue to track lower," said Matthew Gilmore, CMHC's Senior Market Analyst for Halifax. "Despite the year-to-date declines, apartment construction remains strong in historic terms," added Gilmore.
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In race to export LNG, new Atlantic plan
The vision to export natural gas from Canada is taking a sharp turn to the east.
Alfred Sorensen, president of Pieridae Energy Canada, has a dream to
build a major liquefied natural gas export facility on Canada`s East
Coast, the first of its kind. The $5-billion (U.S.) project is an
eastern addition to a race unfolding in Western Canada to build LNG
infrastructure that would allow major exports from the coast of British
Columbia to global markets.
Read the full article here.
The vision to export natural gas from Canada is taking a sharp turn to the east.
Alfred Sorensen, president of Pieridae Energy Canada, has a dream to
build a major liquefied natural gas export facility on Canada`s East
Coast, the first of its kind. The $5-billion (U.S.) project is an
eastern addition to a race unfolding in Western Canada to build LNG
infrastructure that would allow major exports from the coast of British
Columbia to global markets.
Read the full article here.
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Mutli-billion dollar LNG export facility announced
GOLDBORO ` A veteran Calgary natural gas executive told a hall
tightly packed with retired fishermen, loggers and their wives on
Wednesday that he`s bringing $5 billion of investment to Guysborough
County.
You could have heard one of the free Timbits on offer hit the floor.
`Goldboro provides an excellent location for exports and will be the
east coast of Canada and the United States` closest mainland LNG
terminal to Europe and India,` said Alfred Sorensen, president of
project proponent Pieridae Energy Canada.
Read the full article here.
GOLDBORO ` A veteran Calgary natural gas executive told a hall
tightly packed with retired fishermen, loggers and their wives on
Wednesday that he`s bringing $5 billion of investment to Guysborough
County.
You could have heard one of the free Timbits on offer hit the floor.
`Goldboro provides an excellent location for exports and will be the
east coast of Canada and the United States` closest mainland LNG
terminal to Europe and India,` said Alfred Sorensen, president of
project proponent Pieridae Energy Canada.
Read the full article here.
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Natural gas plant would fuel spike in trade jobs
Word that natural gas is potentially back on track for Goldboro sent a
jolt through Nova Scotia`s skilled-trades and steel fabrication sectors
Wednesday.
`We`ve invested heavily in training and technology over the years, and
Goldboro was in our sights for a long time,` Bert Lewis, business
development manager with Mulgrave Machine Works Ltd., said in an
interview.
`Lately, we`d watched sadly as it fell by the wayside.`
Read the full article here.
Word that natural gas is potentially back on track for Goldboro sent a
jolt through Nova Scotia`s skilled-trades and steel fabrication sectors
Wednesday.
`We`ve invested heavily in training and technology over the years, and
Goldboro was in our sights for a long time,` Bert Lewis, business
development manager with Mulgrave Machine Works Ltd., said in an
interview.
`Lately, we`d watched sadly as it fell by the wayside.`
Read the full article here.
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Luxury apartment project on tap
A $35-million luxury apartment building will rise from the site of
the former Bayview Motor Inn on the Bedford Highway by the end of 2014.
Work on the 21-storey, glass-encased building at 50 Bedford Hwy. will
begin next spring or summer, confirmed Youssef Ghosn, principal of Basin
Vista Developments Ltd., the property`s owner.
The company recently started the process of applying for building permits, Ghosn said in an interview Wednesday.
Read the full article here.
A $35-million luxury apartment building will rise from the site of
the former Bayview Motor Inn on the Bedford Highway by the end of 2014.
Work on the 21-storey, glass-encased building at 50 Bedford Hwy. will
begin next spring or summer, confirmed Youssef Ghosn, principal of Basin
Vista Developments Ltd., the property`s owner.
The company recently started the process of applying for building permits, Ghosn said in an interview Wednesday.
Read the full article here.
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Job prospects stable in Halifax, report finds
Halifax is one of a handful of Canadian metropolitan areas where job prospects are stable, according to a new Conference Board of Canada report.
The board`s Metro Help-Wanted Index released Monday suggests that near-term job prospects are stable in six of 26 Canadian metropolitan areas surveyed, including Halifax.
The other five in the stable category were Saint John, N.B., Quebec City, and the Ontario cities of Hamilton, Windsor and Kitchener-Waterloo.
Read the full article here.
Halifax is one of a handful of Canadian metropolitan areas where job prospects are stable, according to a new Conference Board of Canada report.
The board`s Metro Help-Wanted Index released Monday suggests that near-term job prospects are stable in six of 26 Canadian metropolitan areas surveyed, including Halifax.
The other five in the stable category were Saint John, N.B., Quebec City, and the Ontario cities of Hamilton, Windsor and Kitchener-Waterloo.
Read the full article here.
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Shipyard expansion to begin next year
The engineering firm overseeing the Halifax Shipyard expansion plans to break ground in the first quarter of next year.
Hatch Mott MacDonald Ltd. has been awarded the site engineering contract and will design new buildings and marine infrastructure.
The modernization will accommodate Irving Shipbuilding Inc.`s multibillion-dollar, 30-year program to build the navy`s next fleet of combat vessels.
Kevin Skebo, Hatch Mott MacDonald`s project manager, said the aim is to have the facility ready to cut steel in early 2015.
Read the full article here.
The engineering firm overseeing the Halifax Shipyard expansion plans to break ground in the first quarter of next year.
Hatch Mott MacDonald Ltd. has been awarded the site engineering contract and will design new buildings and marine infrastructure.
The modernization will accommodate Irving Shipbuilding Inc.`s multibillion-dollar, 30-year program to build the navy`s next fleet of combat vessels.
Kevin Skebo, Hatch Mott MacDonald`s project manager, said the aim is to have the facility ready to cut steel in early 2015.
Read the full article here.
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Postmedia shifts contact centre to Halifax
Toronto-based Postmedia Network Inc. is relocating its customer contact operations from the Dominican Republic to Halifax, the newspaper publisher confirmed Friday.
The Aditya Birla Minacs contact centre at the Purdy`s Wharf complex on the waterfront has secured the contract.
`The transition to Minacs in Halifax has actually been underway for about a month and will conclude next week,` Phyllise Gelfand, spokeswoman for Postmedia, said in an interview.
Minacs will handle most customer contact calls out of the Halifax site for all 10 Postmedia daily newspapers
Read the full article here.
Toronto-based Postmedia Network Inc. is relocating its customer contact operations from the Dominican Republic to Halifax, the newspaper publisher confirmed Friday.
The Aditya Birla Minacs contact centre at the Purdy`s Wharf complex on the waterfront has secured the contract.
`The transition to Minacs in Halifax has actually been underway for about a month and will conclude next week,` Phyllise Gelfand, spokeswoman for Postmedia, said in an interview.
Minacs will handle most customer contact calls out of the Halifax site for all 10 Postmedia daily newspapers
Read the full article here.