Saskatoon?

[kanabel]

What do you think about Saskatoon in upcoming year(s)? We focus most of the time on cities in Alberta, but after this year`s 50% appreciation is it poised to continue somewhat smaller but still good pace, or this was only price correction/speculation and it has peaked? Fundamentals look good (for rookie like me - uranium, potash, oil reserves), new pro-business government, wages seem to have gone up, low vacancy, non restricted tenancy laws, but still doesn`t seem like Alberta, even though it was often compared to Alberta. Opinions respected. Thanks,
Dejan

 

[navaz]

QUOTE (kanabel @ Nov 20 2007, 12:22 AM) What do you think about Saskatoon in upcoming year(s)? We focus most of the time on cities in Alberta, but after this year`s 50% appreciation is it poised to continue somewhat smaller but still good pace, or this was only price correction/speculation and it has peaked? Fundamentals look good (for rookie like me - uranium, potash, oil reserves), new pro-business government, wages seem to have gone up, low vacancy, non restricted tenancy laws, but still doesn`t seem like Alberta, even though it was often compared to Alberta. Opinions respected. Thanks,
Dejan


Seems interesting -farming is doing well as well -farmers and workers have money -but do not see too many construction cranes. Cheaper to live and operate.

 

[3Girls]

I think Saskatoon has many things going for it. Over the last 5-10 years there has been a strong diversification away from our historical agriculture base. By real numbers I believe mining is now a bigger part of our economy than agriculture is, although ag. I think has a bigger impact on more people and their lifestyle.

We now are the home to some major mining companies, have a thriving hi tec industry lead by the syncotron, and growing manufacturing base. From a RE perspective the Univesity provides an endless supply of renters. It was bad enough this fall that there was request put out to the public to open their homes for room and board.

We have gone through a strong 1-2 year period. Will it continue at this pace - unlikely, but given many of the fundamentals we are supposed to look at I believe there is a lot of up side left here.

The one major fundamental that many people look at here is the affordability index. Many people have complained that there has not been a corresponding increase in wages in comparison to the cost of living (especially housing). This is what makes our market a little more difficult to compare than major centers such as Edmonton and Calgary. This is why many people think our increases have been driven more by outside speculators than by people looking for new quality places to live.

Our population as a province has not changed a great deal, but the move from rural to the cities continues to happen.

For those of you who would like more detail on Saskatoon, you could check Norm Fisher`s blog at teamfisher.com He provide some good statistical data as well as some interesting comments within his blog. (This is not an ad for him as a Realtor. I have not used him for any transaction, not even met him - but I do find his site useful).

Just my take on what is happening in Saskatoon.

Maurice Roberge

 

[kanabel]

Thank you Navaz and Maurice! Dejan

 

[UTCVenturesLtd]

QUOTE (kanabel @ Nov 19 2007, 11:22 PM) What do you think about Saskatoon in upcoming year(s)? We focus most of the time on cities in Alberta, but after this year`s 50% appreciation is it poised to continue somewhat smaller but still good pace, or this was only price correction/speculation and it has peaked? Fundamentals look good (for rookie like me - uranium, potash, oil reserves), new pro-business government, wages seem to have gone up, low vacancy, non restricted tenancy laws, but still doesn`t seem like Alberta, even though it was often compared to Alberta. Opinions respected. Thanks,
Dejan


Saskatoon and Regina have been running RED HOT! Every second person i talk to seems to have a second property in Saskatchewan. I think with the high gains that were made in Alberta and B.C. as well, let investors use their lines of credit to seek the super low priced deals in Saskatchewan next. And that is what they did. Many from Saskatchewan who moved to Alberta, took their gains and headed back to buy their homes outright and have money in the bank to boot. And that is for all the provinces east of us as well. There is a lot of potential in that province for sure! I am holding two properties and joint ventured on a third. I think Saskatchewan will enjoy at least one more year of upswings before they top out or plateau. Fundamentals look good and they are short of workers like everyone else it seems. If you can find out where the oil and gas companies are heading to, then you can pick up some property before it goes up as well and enjoy some appreciation. There is a new hospital being built in Outlook, about an hr. from Saskatoon and i hear there is a shortage of rentals there as well. My brother in law in Vancouver bought a duplex there and my sister in law works nearby.
Dean
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[Thomas Beyer]

rents went up 20% .. and values 50% to 100% .. go figure ..

buy if the price makes sense .. can you hold 3-4 years with rental income ?



We like Yorkton, SK .. cheaper .. similar rents .. more steady .. Saskatoon appears overheated ..