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October 2015 BC Economic Fundamentals

Discussion in 'BC News' started by Ally, Oct 2, 2015.

  1. Ally
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    News articles for October 2015.
     
  2. Ally
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    Eagle Spirit Energy’s pipeline plan in northern B.C. gets backing of First Nations chiefs

    CALGARY – As other pipeline proposals from Alberta’s oilsands to the West Coast appear stalled, Eagle Spirit Energy Holdings Ltd. claimed Tuesday that it now has the support of every First Nation chief along the route of its own proposed oil pipeline through northern B.C.

    A group of aboriginal chiefs in northern British Columbia declared their support for a pipeline corridor that would connect Albertan oil and gas plays with the Pacific in a letter delivered Tuesday to Prime Minister Stephen Harper and the premiers of Alberta, B.C. and Saskatchewan.

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    Look at BC's Fraser Valley real estate market take off. Demand shifts east

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    Vancouver economy and population are booming. Housing demand to continue to increase

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    B.C. immigration drops to 15 year-lows. But inter-provincial migration 2nd only to AB

    The first half of 2015 has seen a net increase of less than 6,000 immigrants into B.C., compared with more than 18,000 in the same period last year.

    This was the first time in more than 15 years, BC Stats said, that B.C. experienced a net loss of non-permanent residents.

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    Victoria renters struggle with housing gap, finds analysis

    Vancouver isn’t the only city in British Columbia where finding an affordable place to live can be a challenge.

    Thousands of individuals, families and seniors continue to struggle with housing affordability in the Greater Victoria area, according to a new housing-gap analysis.

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    Flight to the suburbs is the real future of real estate

    A major North American study on 2016 real estate trends is predicting a migration to the suburbs and greater interest in rentals in super-expensive markets like Vancouver.

    The study, by PricewaterhouseCoopers and the Urban Land Institute, is based on surveys of those involved in the real estate and development industries across the continent.

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    Gas plant near Dawson Creek will be the largest in decades

    Western Canada's largest gas plant in 30 years will be built in the middle of an oil downturn.

    On Tuesday, Veresen Midstream announced plans to build its $860 million Sunrise Gas plant near Dawson Creek.

    The plant will deliver 400 million cubic feet of gas per day to TransCanada's Nova Gas Transmission Line—a massive pipeline network that services Alberta and other North American customers.

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  9. DonCampbell
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    This is going to prove to be just the beginning of the demand wave hitting the Fraser Valley over the next decade.
     
  10. Ally
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    Vancouver's runaway real estate: Don’t hold your breath for a crackdown /via @globeandmail

    A few months ago, a friend of mine passed along a story he felt epitomized the lunacy of what we are witnessing in the Vancouver real estate market.

    A buddy of his lived in a lovely home on the west side of the city, near the University of British Columbia. Since 1992, not a single human being had lived in the house next door, yet it had been sold and resold nine times. Not that long ago, his friend decided to do a records check on the property.

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    Changes support tenants, landlords, and strata corporations

    The B.C. government has introduced legislative changes intended to support tenants fleeing family violence, reduce red tape for landlords and tenants and make it easier for members to terminate a strata corporation.

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    BC LNG industry ready to take final steps

    British Columbia’s fledgling liquefied natural gas industry will overcome the slump in energy markets while addressing aboriginal concerns, the province’s Finance Minister says.

    LNG prices are weak in Asia, but the backers of major projects on Canada’s West Coast are taking a long-term view, said Mike de Jong, who will be delivering a speech on Wednesday at the start of an international LNG conference in Vancouver.

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    This is about to start getting VERY real: Expiring Canada-U.S. softwood lumber deal is a priority for B.C.

    VICTORIA — The softwood lumber agreement between Canada and the United States expires Monday, and British Columbia is signalling that reaffirming lumber trade stability between the two countries must become a top priority of the new government in Ottawa following the federal election.

    B.C. Premier Christy Clark said the importance of a renewed lumber deal between Canada and the U.S. is her first topic of discussion with the federal government.

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    Metro Vancouver assessed home values set to take off in 2016

    METRO VANCOUVER -- Single-family home owners in Vancouver and the surrounding area should be prepared for significant increases in property assessments in January, according to BC Assessment.

    Jason Grant, the Greater Vancouver regional assessor, said Thursday that homeowners can expect increases of 15 to 25 per cent when assessment notices are mailed out early in 2016. Owners of strata-title condominiums can expect increases of five to 10 per cent.


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    Vancouver home sales dip 10% in September

    The association says sales through its Multiple Listing Service were down in more than half of all local markets in September, led by lower sales in Vancouver, Calgary and Toronto.

    Canadian home prices rose 0.6 percent in September from August, the ninth straight monthly increase, and were up a hefty 5.6 percent from a year earlier, the Teranet-National Bank Composite House Price Index showed on Thursday.

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    House prices in Surrey jump 8%

    West Vancouver is becoming a buyer’s market as inventory levels increase and the price appreciated 3.2 per cent to $2,391,407.

    In the Toronto area, two-storey homes are up more than 18 percent year-over-year in Richmond Hill and Vaughan.

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    Vancouver condos attract Chinese investors

    VANCOUVER, Oct. 22 (Xinhua) -- Roughly 600 of Vancouver's top real estate brokers and developers packed a Vancouver downtown hotel on Thursday to hear a message that came as no surprise to anyone who has been paying attention to the Canadian city's real estate market.

    Michael Ferreira, managing principal of Urban Analytics, a Real Estate and Urban Planning Consultant company, made a keynote speech on the housing market development, saying slow supply of new housing drives prices higher and higher, creating what he called an "urgency play" in the market.

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    Setting quick pace in BC

    As of 2014, the District of Lake Country is B.C.’s fastest growing municipality.

    Winfield, the commercial centre and most populated neighbourhood within Lake Country, was recently named as one of Canada’s top 100 places to invest by Canadian Real Estate Magazine.


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    Vancouver's Mount Pleasant district rejuvenated

    “With further growth and further movement from other municipalities coming into this neighbourhood, a lot of groups are wanting to be here,” said Cushman & Wakefield commercial leasing and sales vice-president Matthew MacLean.

    “We’ve seen a growing trend with office user groups as well as higher and better use of industrial that would incorporate some form of distribution and light manufacturing with an ancillary retail concept, which has become very important for the neighbourhood as it creates amenities within this zone.”

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