September 2015 Economic Fundamentals

Ally

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#2
Manitoba economy prepared for recession through economic diversity: Selinger

Manitoba Premier Greg Selinger says the province will be able to weather a recession because of its diversified economy.

Statistics Canada announced on Tuesday that the country had experienced the second consecutive quarter of negative growth, legally qualifying the Canadian economy to be in recession.

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Ally

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#3
Regina construction down in August, but up for the year

REGINA — Construction activity in Regina totalled $42.8 million in August, down 45 per cent from $75.1 million in August 2014, according to the City of Regina’s monthly building permit report.

The biggest factor was the drop in non-residential construction, which fell 74 per cent to $9.7 million from $36.7 million in August last year, the report said.

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Ally

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#4
Manitoba rent increase capped at 1.1% for 2016

The province has capped residential rent increases at 1.1% for next year.

Consumer Protection Minister Ron Lemieux made the announcement Wednesday, noting the guideline is determined every year by basing it on the Manitoba Consumer Price Index.

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Ally

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#5
Saskatoon marks strong August on job front

The good news is that Saskatoon and region gained 800 jobs last month.

The bad news?

A weak first half of 2015 means an ambitious job creation program by the Chamber of Commerce likely won't reach its target.

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Ally

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#6
August 2015 housing starts in Regina

REGINA, SASKATCHEWAN--(Marketwired - Sept. 9, 2015) - Housing starts in the Regina Census Metropolitan Area (CMA) were trending at 1,951 units in August compared to 1,794 in July, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six month moving average of the monthly seasonally adjusted annual rates (SAAR)(1) of total housing starts.

"The trend in total housing starts moved higher in August relative to July as the trend in both single-detached and multi-family units increased," said Lai Sing Louie, CMHC's Regional Economist for the Prairies and Territories Region. "Despite the increases in the trend, Regina's total housing starts are expected to end the year lower than in 2014, as weaker economic conditions and elevated inventories of new homes continue to add downward pressure to new construction over the remaining months of 2015," added Louie.



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Ally

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#7
Saskatchewan city shows Prairies' economy isn't uniform

Is Canada climbing out of its economic funk?

That $3,400 stationary bike? It’s yours for $1,500. Need weights? Some pocket change will suffice. “It’s just too tough out there right now,” Mr. Asham, 57, said, surrounded by a graveyard of elliptical machines and treadmills in a dreary basement.

Business in this city of 60,000 was already choppy before oil prices crashed. Then a local drilling company he supplied with fitness gear suddenly left town. Sales evaporated. “They cleaned it right out,” he said. “They’re not coming back.”

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Ally

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#8
Consumer confidence in Prairies drop to lowest level since 2008

The Bloomberg Nanos Confidence Index for the three prairie provinces — Alberta, Saskatchewan and Manitoba — fell to 47.7 in the period through Friday, from 49.5 previously. That’s lower than the February reading of 49.2 that coincided with a drop in New York crude futures to below $50 a barrel. Prairie confidence had recovered as oil prices rose to as high as $56.1 in May, before slipping again with the latest round of weakness.

West Texas Intermediate futures traded below $45 a barrel Monday after falling 2.8 per cent Friday on predictions by Goldman Sachs Group Inc. the endurance of the oil surplus could push prices as low as $20 a barrel.

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Ally

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#9
Saskatoon home sales dipped in August

Calgary, Edmonton, Saskatoon and Regina all saw home sales in August dip below a year ago, according to the Canadian Real Estate Association (CREA). Regina home sales were down 5.2 per cent year over year in August, while sales were down 6.3 per cent for the year to date. Average prices were up 5.8 per cent year over year, but down slightly (0.7 per cent) for the year to date.

Prices in Calgary were flat on a year-over-year basis in August, marking the first month since September 2011 of no year-overyear price growth. Prices in Saskatoon also ran roughly even with year-ago levels.

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Ally

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#10
Vacancy rates rising throughout Saskatoon

With vacancy rates at an astounding forty per cent in some new Saskatoon apartment complexes, landlords are bending over backwards to attract new tenants.

The executive director of the Saskatchewan Landlord Association, Chanda Lockhart, said Saskatoon landlords are offering deals to those looking for an apartment.

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Ally

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#11
The North Commuter Parkway Project has just been approved for Saskatoon. Their largest infrastructure project is about to transform the transportation/road system. This provides strategic long term investors a ton of opportunity. Follow the exits:

Graham Commuter Partners includes ASL Paving, BBGI, Buckland & Taylor, Clifton, Gracorp Capital Partners LP, Graham Infrastructure, National Bank Financial and Tetra Tech.

The parkway project includes a six-lane bridge and 9.3 kilometres of new arterial roadways to link the Marquis Industrial area with the University Heights area.

Read the full article here.