December 2013 Alberta Economic Fundamentals
- Thread starter Ally
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'Peak toilet' problem puts the brakes on Calgary northwest development
The sewer capacity crisis that has frozen development in northwest Calgary is so dire that the city had to take extra measures to allow 183 homes already under construction to finish.
The long-promised northwest recreation centre can also go ahead as planned. The Tuscany fire station and a planned middle school in Royal Oak, too.
Read the full article here.
The sewer capacity crisis that has frozen development in northwest Calgary is so dire that the city had to take extra measures to allow 183 homes already under construction to finish.
The long-promised northwest recreation centre can also go ahead as planned. The Tuscany fire station and a planned middle school in Royal Oak, too.
Read the full article here.
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Northern Alberta's shadow population
Every welder, pipefitter and engineer has a mathematical equation. One side has time and family, the other has money. Some tinker with the formula for a year or two, leave and never return. Others keep coming back, year after year.
Work camps are everywhere in the Regional Municipality of Wood Buffalo, the 68,000- square- kilometre region surrounding Fort McMurray. A 2012 census found 40,000 mobile workers working at nearly 100 projects here, rivalling Fort McMurray`s 73,000 residents.
The number of mobile workers is likely closer to 60,000, officials suggest, since the census tally is based on a low season and camp capacity was recently estimated at 92,000 beds.
Read the full article here.
Every welder, pipefitter and engineer has a mathematical equation. One side has time and family, the other has money. Some tinker with the formula for a year or two, leave and never return. Others keep coming back, year after year.
Work camps are everywhere in the Regional Municipality of Wood Buffalo, the 68,000- square- kilometre region surrounding Fort McMurray. A 2012 census found 40,000 mobile workers working at nearly 100 projects here, rivalling Fort McMurray`s 73,000 residents.
The number of mobile workers is likely closer to 60,000, officials suggest, since the census tally is based on a low season and camp capacity was recently estimated at 92,000 beds.
Read the full article here.
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Go West, young Easterner. Fort McMurray is where the money is
FORT MCMURRAY ` When Craig Maguire fell on hard times in Fort McMurray, he found help from back east. Without ever leaving town.
East coasters welcomed Maguire when he arrived from Winnipeg in early 2012, not knowing a soul. Even though he wasn`t from the Rock, he and his wife became regulars at the Royal Canadian Legion Branch No. 165, where Newfoundlanders go to play Saturday nights.
Read the full article here.
FORT MCMURRAY ` When Craig Maguire fell on hard times in Fort McMurray, he found help from back east. Without ever leaving town.
East coasters welcomed Maguire when he arrived from Winnipeg in early 2012, not knowing a soul. Even though he wasn`t from the Rock, he and his wife became regulars at the Royal Canadian Legion Branch No. 165, where Newfoundlanders go to play Saturday nights.
Read the full article here.
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Calgary new condo sales continue to climb
CALGARY - An Altus Group report says new condominium sales in Calgary have jumped by 11.5 per cent so far this year compared with a year ago.
The new report said sales reached 2,555 units between January and September compared with 2,292 for the same period a year ago.
It said 4,327 new condo units were under construction at the end of September, up from 4,263 a year ago but starts were down to 1,537 from 2,780 last year.
Read the full article here.
CALGARY - An Altus Group report says new condominium sales in Calgary have jumped by 11.5 per cent so far this year compared with a year ago.
The new report said sales reached 2,555 units between January and September compared with 2,292 for the same period a year ago.
It said 4,327 new condo units were under construction at the end of September, up from 4,263 a year ago but starts were down to 1,537 from 2,780 last year.
Read the full article here.
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Low inventory pushes up Calgary house prices in November
CALGARY - A low inventory of active listings combined with increased sales has pushed Calgary home prices once again in an upward direction to a record high in November.
Statistics from the Calgary Real Estate Board indicate MLS sales in November rose by 18.74 per cent year-over-year to 1,730 transactions with the average sale price increasing by 5.56 per cent to $458,053 and the median price climbing by 8.50 per cent to $406,875.
Read the full article here.
CALGARY - A low inventory of active listings combined with increased sales has pushed Calgary home prices once again in an upward direction to a record high in November.
Statistics from the Calgary Real Estate Board indicate MLS sales in November rose by 18.74 per cent year-over-year to 1,730 transactions with the average sale price increasing by 5.56 per cent to $458,053 and the median price climbing by 8.50 per cent to $406,875.
Read the full article here.
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Alberta shoppers to lead Christmas retail spending growth
CALGARY - A strong energy sector, healthy employment rates and increasing consumer confidence levels will boost Christmas shopping in Alberta to the highest year-over-year growth in the country.
The Colliers International 2013 Fall Retail Report and Forecast, released Monday says Alberta will see holiday sales growth of 8.42 per cent this year in December followed by Newfoundland and Labrador (8.19 per cent) and Saskatchewan (6.14 per cent).
Read the full article here.
CALGARY - A strong energy sector, healthy employment rates and increasing consumer confidence levels will boost Christmas shopping in Alberta to the highest year-over-year growth in the country.
The Colliers International 2013 Fall Retail Report and Forecast, released Monday says Alberta will see holiday sales growth of 8.42 per cent this year in December followed by Newfoundland and Labrador (8.19 per cent) and Saskatchewan (6.14 per cent).
Read the full article here.
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Near-term job prospects up for Calgary and Edmonton
CALGARY - Near-term job prospects are up in Calgary and Edmonton, according to a report released Monday by the Conference Board of Canada.
The board`s Help Wanted Index said Alberta led the way in October with a gain of 7.5 points, which was the third consecutive increase for the province.
Read the full article here.
CALGARY - Near-term job prospects are up in Calgary and Edmonton, according to a report released Monday by the Conference Board of Canada.
The board`s Help Wanted Index said Alberta led the way in October with a gain of 7.5 points, which was the third consecutive increase for the province.
Read the full article here.
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Alberta government is investing $170 billion into NorQuest College
The province is investing $170 million in NorQuest College to help more students attain skills to take part in Alberta's fast-growing workforce.
The province is providing funding for a new building on the NorQuest campus and will also renovate an existing space. Construction of the new building will accommodate as many as 2,500 new students by the next decade, adding to NorQuest's current enrolment of roughly 8,500 students annually.
Read the full article here.
The province is investing $170 million in NorQuest College to help more students attain skills to take part in Alberta's fast-growing workforce.
The province is providing funding for a new building on the NorQuest campus and will also renovate an existing space. Construction of the new building will accommodate as many as 2,500 new students by the next decade, adding to NorQuest's current enrolment of roughly 8,500 students annually.
Read the full article here.
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Home prices creeping up in Edmonton area
EDMONTON - Edmonton-region home prices crept upward in November, according to MLS statistics released Tuesday.
The average single-family dwelling in the Edmonton census metropolitan area sold for $405,826, up 2.1 per cent from October and an increase of 3.8 per cent from November 2012.
Read the full article here.
EDMONTON - Edmonton-region home prices crept upward in November, according to MLS statistics released Tuesday.
The average single-family dwelling in the Edmonton census metropolitan area sold for $405,826, up 2.1 per cent from October and an increase of 3.8 per cent from November 2012.
Read the full article here.
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Cost rises to $8.5B for North West refinery project northeast of Edmonton
CALGARY - A partnership that plans to build an oilsands refinery northeast of Edmonton says the cost of the project has risen to $8.5 billion.
North West Redwater Partnership also said in a news release Wednesday that the startup date for its bitumen upgrader has been pushed back to September 2017 from mid-2016.
Read the full article here.
CALGARY - A partnership that plans to build an oilsands refinery northeast of Edmonton says the cost of the project has risen to $8.5 billion.
North West Redwater Partnership also said in a news release Wednesday that the startup date for its bitumen upgrader has been pushed back to September 2017 from mid-2016.
Read the full article here.
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Calgary reclaims the title of Canada's strongest housing market
CALGARY, ALBERTA--(Marketwired - Dec. 5, 2013) - After correcting several years ago, Calgary has reclaimed its title as the strongest major housing market in the country, according to a new report from BMO Economics on Canada's major housing markets.
The report, titled "Canadian Housing Update: Tale of Four Cities", examines the state of the housing markets in Canada's four largest cities: Vancouver, Calgary, Toronto and Montreal.
Read the full article here.
CALGARY, ALBERTA--(Marketwired - Dec. 5, 2013) - After correcting several years ago, Calgary has reclaimed its title as the strongest major housing market in the country, according to a new report from BMO Economics on Canada's major housing markets.
The report, titled "Canadian Housing Update: Tale of Four Cities", examines the state of the housing markets in Canada's four largest cities: Vancouver, Calgary, Toronto and Montreal.
Read the full article here.
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Alberta annual employment growth best in Canada
CALGARY - Alberta had the fastest year-over-year employment growth in the country in November, according to Statistics Canada.
The federal agency reported Friday that employment in the province was up 78,100 jobs from a year ago, or 3.6 per cent.
Read the full article here.
CALGARY - Alberta had the fastest year-over-year employment growth in the country in November, according to Statistics Canada.
The federal agency reported Friday that employment in the province was up 78,100 jobs from a year ago, or 3.6 per cent.
Read the full article here.
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The curious case of Calgary's residential real estate market
`It`s different here.`
It`s a common refrain among people who build and sell real estate, a soothing lullaby aimed at calming fears about global economic trends and macroeconomic worries. And as millions of American homeowners discovered in 2008, it`s also usually a load of horse manure. Given that, it`s fair to wonder whether those saying the same thing right now about Calgary`s real estate market can ` or should ` be trusted.
Read the full article here.
`It`s different here.`
It`s a common refrain among people who build and sell real estate, a soothing lullaby aimed at calming fears about global economic trends and macroeconomic worries. And as millions of American homeowners discovered in 2008, it`s also usually a load of horse manure. Given that, it`s fair to wonder whether those saying the same thing right now about Calgary`s real estate market can ` or should ` be trusted.
Read the full article here.
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New race track and casino set to break ground
A new entertainment facility is planned for an area north of the city limits and a number of dignitaries and stakeholders were on hand for a ceremonial sod turning on Wednesday.
The United Horsemen of Alberta and Century Casinos are building a new racetrack and casino next to CrossIron Mills called Century Downs Racetrack and Casino.
Read the full article here.
A new entertainment facility is planned for an area north of the city limits and a number of dignitaries and stakeholders were on hand for a ceremonial sod turning on Wednesday.
The United Horsemen of Alberta and Century Casinos are building a new racetrack and casino next to CrossIron Mills called Century Downs Racetrack and Casino.
Read the full article here.
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Positive economic forecast for Alberta from Canada's largest bank
RBC predicts Wildrose country will lead the nation in economic growth in 2014, Chief economist Craig Wright tells 660News Alberta`s real GDP will increase by 3.9 per cent, which tops 3.3 per cent this year.
Wright says heavy energy sector investment will continue to fuel all economic sectors ranging from consumer spending, job creation and house construction.
Read the full article here.
RBC predicts Wildrose country will lead the nation in economic growth in 2014, Chief economist Craig Wright tells 660News Alberta`s real GDP will increase by 3.9 per cent, which tops 3.3 per cent this year.
Wright says heavy energy sector investment will continue to fuel all economic sectors ranging from consumer spending, job creation and house construction.
Read the full article here.
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Red Deer Airport gets busier
Although flights to Calgary from Red Deer are only a few months old, the Red Deer Airport is already seeing a dramatic rise in passengers.
In a presentation to Red Deer city council scheduled for Monday, airport officials say they have seen a 513 per cent increase in scheduled passengers.
Read the full article here.
Although flights to Calgary from Red Deer are only a few months old, the Red Deer Airport is already seeing a dramatic rise in passengers.
In a presentation to Red Deer city council scheduled for Monday, airport officials say they have seen a 513 per cent increase in scheduled passengers.
Read the full article here.
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'No vacancy' a sign of the times for apartment hunters
Finding an apartment in the Edmonton region is tougher and more
expensive than it was a year ago, according to the Canada Mortgage and Housing
Corp.
The rental apartment vacancy rate in the Edmonton census metropolitan area
was 1.4 per cent in October, down from 1.7 per cent in October 2012, according
to the federal agency`s fall rental market survey released Thursday.
Read the full article here.
Finding an apartment in the Edmonton region is tougher and more
expensive than it was a year ago, according to the Canada Mortgage and Housing
Corp.
The rental apartment vacancy rate in the Edmonton census metropolitan area
was 1.4 per cent in October, down from 1.7 per cent in October 2012, according
to the federal agency`s fall rental market survey released Thursday.
Read the full article here.