January 2013 Prairie Economic Fundamentals
- Thread starter Ally
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Prosperity in Saskatoon and planning for growth
The most recent forecasts from Canada Mortgage and Housing Corporation (CMHC) suggests our markets in our largest cities will see housing starts decline by roughly 10 to 15 per cent. However, it is also forecast that the MLS price will increase from 2 to 2.5 per cent and the MLS sales for those cities will hold strong matching this year's performance.
The inventory levels are still tight and the absorption (sales) of housing stock continues to be strong.
Read the full article here.
The most recent forecasts from Canada Mortgage and Housing Corporation (CMHC) suggests our markets in our largest cities will see housing starts decline by roughly 10 to 15 per cent. However, it is also forecast that the MLS price will increase from 2 to 2.5 per cent and the MLS sales for those cities will hold strong matching this year's performance.
The inventory levels are still tight and the absorption (sales) of housing stock continues to be strong.
Read the full article here.
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Canpotex, Sinofert sign potash deal
Canpotex Limited (Canpotex) has reached a deal with China`s Sinofert Holdings Limited (Sinofert) to supply one million tonnes of potash in the first half of 2013 for $70 less per tonne than the last contract signed in March 2012.
The agreement is pursuant to the three-year memorandum of understanding signed with Sinofert in October 2010.
Read the full article here.
Canpotex Limited (Canpotex) has reached a deal with China`s Sinofert Holdings Limited (Sinofert) to supply one million tonnes of potash in the first half of 2013 for $70 less per tonne than the last contract signed in March 2012.
The agreement is pursuant to the three-year memorandum of understanding signed with Sinofert in October 2010.
Read the full article here.
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Manitoba employment numbers up again
Manitoba employment numbers have gone up for the fourth time in the past five months, a new labour report reveals.
The province gained 5,200 full-time jobs in December, according to Statistics Canada. That`s the second biggest increase for the month in the country, trailing only Ontario, which saw employment rise by 33,000.
Read the full article here.
Manitoba employment numbers have gone up for the fourth time in the past five months, a new labour report reveals.
The province gained 5,200 full-time jobs in December, according to Statistics Canada. That`s the second biggest increase for the month in the country, trailing only Ontario, which saw employment rise by 33,000.
Read the full article here.
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Saskatchewan labour market trumps Alberta's?
With close to 4,000 Albertans coming to Saskatchewan to work this past year, the province`s labour market finds itself ahead of Alberta`s. The increasing demand for skilled workers has local businesses shrugging their shoulders however, because they can`t fill vacant jobs.
`We just have to live with how it stands because our economy has grown faster than our ability to staff it,` said Saskatchewan Chamber of Commerce CEO Steve McLellan.
Read the full article here.
With close to 4,000 Albertans coming to Saskatchewan to work this past year, the province`s labour market finds itself ahead of Alberta`s. The increasing demand for skilled workers has local businesses shrugging their shoulders however, because they can`t fill vacant jobs.
`We just have to live with how it stands because our economy has grown faster than our ability to staff it,` said Saskatchewan Chamber of Commerce CEO Steve McLellan.
Read the full article here.
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Manitoba transitioning into a 'have' province?
Manitoba's job-creation performance in 2012 was so good people are talking again about what it could take for Manitoba to become a "have" province.
After significant swings up and down in September and October, the province produced two consecutive months of 5,000-plus new jobs to end the year with 11,900 additional people working in the province.
"The December numbers are surprisingly strong," said Michael Benarroch, dean of the Asper School of Business at the University of Manitoba.
Read the full article here.
Manitoba's job-creation performance in 2012 was so good people are talking again about what it could take for Manitoba to become a "have" province.
After significant swings up and down in September and October, the province produced two consecutive months of 5,000-plus new jobs to end the year with 11,900 additional people working in the province.
"The December numbers are surprisingly strong," said Michael Benarroch, dean of the Asper School of Business at the University of Manitoba.
Read the full article here.
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Regina posts strong year-over-year price increases in fourth quarter
REGINA, Jan. 8, 2013 /CNW/ - The Royal LePage House Price Survey and Market Survey Forecast released today showed substantial, year-over-year price gains in Regina, while modest price increases are expected to take place in 2013.
Standard two-story homes in Regina saw Canada's largest year-over-year price increase, rising 16.8 per cent to $382,500. Detached bungalows showed a healthy year-over-year price increase of 5.3 per cent, averaging $333,330, while standard condominiums made gains of 5.9 per cent to an average price of $210,750.
Read the full article here.
REGINA, Jan. 8, 2013 /CNW/ - The Royal LePage House Price Survey and Market Survey Forecast released today showed substantial, year-over-year price gains in Regina, while modest price increases are expected to take place in 2013.
Standard two-story homes in Regina saw Canada's largest year-over-year price increase, rising 16.8 per cent to $382,500. Detached bungalows showed a healthy year-over-year price increase of 5.3 per cent, averaging $333,330, while standard condominiums made gains of 5.9 per cent to an average price of $210,750.
Read the full article here.
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Average Saskatoon house and condo prices by neighbourhood in 2012
Here`s a detailed overview of average house and condo prices for each Saskatoon neighbourhood based on 2012 MLSÂ activity. The list is organized with the lowest priced neighbourhood (using the `All Residential` category) at the top of the page and progressing to the highest priced area at the bottom. You can view a full profile of each neighbourhood by clicking the neighbourhood name.
Read the full article here.
Here`s a detailed overview of average house and condo prices for each Saskatoon neighbourhood based on 2012 MLSÂ activity. The list is organized with the lowest priced neighbourhood (using the `All Residential` category) at the top of the page and progressing to the highest priced area at the bottom. You can view a full profile of each neighbourhood by clicking the neighbourhood name.
Read the full article here.
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Record-low vacancy mounts pressure in Saskatoon's central business district
Over the last two (2) quarters of 2012, office markets across C anada experienced plummeting vacancy rates and high absorption figures in their C entral Business Districts (CBD) as companies expand the scope of their operations. For instance, C algary`s downtown vacancy fell 4.1% over the last 12 months and 11% in the past 24 months. Calgary is leading the country in absorption as a percentage of total market. C anada, as a whole, is experiencing strong activity in the office sector. 1.5 million square feet of office space is under construction in T oronto`s downtown market with an additional million square feet located in fringe areas. Despite significant growth in T oronto`s office market over the past three (3) years, record high absorption has kept office vacancy at a consistent 5.0% range.
Read the full article here.
Over the last two (2) quarters of 2012, office markets across C anada experienced plummeting vacancy rates and high absorption figures in their C entral Business Districts (CBD) as companies expand the scope of their operations. For instance, C algary`s downtown vacancy fell 4.1% over the last 12 months and 11% in the past 24 months. Calgary is leading the country in absorption as a percentage of total market. C anada, as a whole, is experiencing strong activity in the office sector. 1.5 million square feet of office space is under construction in T oronto`s downtown market with an additional million square feet located in fringe areas. Despite significant growth in T oronto`s office market over the past three (3) years, record high absorption has kept office vacancy at a consistent 5.0% range.
Read the full article here.
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Parking woes grow in downtown Saskatoon
With many of the downtown's parking lots slated to become buildings in the coming years, city hall is warning that the already strained parking situation will likely get much worse before it gets better.
Angela Gardiner, the city's transportation manager, said construction is quickly eroding the downtown's supply of month-by-month parking spaces.
Read the full article here.
With many of the downtown's parking lots slated to become buildings in the coming years, city hall is warning that the already strained parking situation will likely get much worse before it gets better.
Angela Gardiner, the city's transportation manager, said construction is quickly eroding the downtown's supply of month-by-month parking spaces.
Read the full article here.
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Chamber of Commerce concerned about proposed tax increases for Regina
The Regina & District Chamber of Commerce is raising an eyebrow of concern over the city's 2013 budget, which asks property owners to face a 4.45-per-cent mill rate increase, the biggest in a decade.
The chamber's executive director, John Hopkins, said Monday the chamber understands that there are many priorities competing for municipal tax dollars, but "proposing a 4.5-per-cent mill rate increase on top of a nine-per-cent water utility increase during a reassessment year will not be an insignificant challenge to some businesses."
Read the full article here.
The Regina & District Chamber of Commerce is raising an eyebrow of concern over the city's 2013 budget, which asks property owners to face a 4.45-per-cent mill rate increase, the biggest in a decade.
The chamber's executive director, John Hopkins, said Monday the chamber understands that there are many priorities competing for municipal tax dollars, but "proposing a 4.5-per-cent mill rate increase on top of a nine-per-cent water utility increase during a reassessment year will not be an insignificant challenge to some businesses."
Read the full article here.
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Winnipeg caretakers fired for keeping suites warm
Two Winnipeg caretakers say they were fired for trying to keep their tenants warm.
Penny Letourneau and Mike Dent said they were terminated on Monday because they refused to turn down the heat at a Preston Avenue apartment block.
Read the full article here.
Two Winnipeg caretakers say they were fired for trying to keep their tenants warm.
Penny Letourneau and Mike Dent said they were terminated on Monday because they refused to turn down the heat at a Preston Avenue apartment block.
Read the full article here.
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Let's not call it the 'inner city,' Saskatoon's mayor says
Saskatoon's mayor is out to change the way the city talks about itself to make the inner city neighbourhoods more exciting-sounding.
Speaking to reporters after his "State of the City" address on Wednesday, Don Atchison said he'd rather call places such as Riversdale "historic neighbourhoods" ` instead of the "core area" or "inner city".
Read the full article here.
Saskatoon's mayor is out to change the way the city talks about itself to make the inner city neighbourhoods more exciting-sounding.
Speaking to reporters after his "State of the City" address on Wednesday, Don Atchison said he'd rather call places such as Riversdale "historic neighbourhoods" ` instead of the "core area" or "inner city".
Read the full article here.
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Plans for downtown Saskatoon facelift unveiled
The City of Saskatoon is unveiling some of its plans to improve the north downtown area, which includes 240 acres of new development.
Housing will be the biggest component, said Joyce Drohan, director of urban design for the project.
Read the full article here.
The City of Saskatoon is unveiling some of its plans to improve the north downtown area, which includes 240 acres of new development.
Housing will be the biggest component, said Joyce Drohan, director of urban design for the project.
Read the full article here.
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Retailers eyeing Saskatchewan
Strong retail sales in Saskatchewan, especially in the two major cities, are bringing new retailers to the province and spurring new developments and redevelopment of existing retail space, according to ICR Commercial Real Estate.
In its 2013 market survey, ICR noted that in 2012 "retail sales had increased by eight per cent ... To put the success of the province in perspective, national sales were estimated to have increased by 2.4 per cent."
Read the full article here.
Strong retail sales in Saskatchewan, especially in the two major cities, are bringing new retailers to the province and spurring new developments and redevelopment of existing retail space, according to ICR Commercial Real Estate.
In its 2013 market survey, ICR noted that in 2012 "retail sales had increased by eight per cent ... To put the success of the province in perspective, national sales were estimated to have increased by 2.4 per cent."
Read the full article here.
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Saskatoon retail sales hit record in 2012
More and more national, and international, retailers are eyeing Saskatoon as a place to do business.
"There has been more interest from national retailers and even more are ready to enter the market this year," says Alvaro Campos, market research analyst with ICR Commercial Real Estate.
Read the full article here.
More and more national, and international, retailers are eyeing Saskatoon as a place to do business.
"There has been more interest from national retailers and even more are ready to enter the market this year," says Alvaro Campos, market research analyst with ICR Commercial Real Estate.
Read the full article here.
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Saskatoon residential sales cool in January
Like the weather, home sales in Saskatoon were cool in January.
The number of units sold in the city fell 10 per cent, compared with January 2012 (222 sales compared to 247 in January 2012). However, sales in bedroom communities and acreages outside of the city jumped 40 per cent year over year in January.
Jason Yochim, executive officer with the Saskatoon Region Association of Realtors (SRAR), said the decrease in the city was mainly due to mortgage rule changes and limited supply in the key $250,000-$400,000 price range.
Read the full article here.
Like the weather, home sales in Saskatoon were cool in January.
The number of units sold in the city fell 10 per cent, compared with January 2012 (222 sales compared to 247 in January 2012). However, sales in bedroom communities and acreages outside of the city jumped 40 per cent year over year in January.
Jason Yochim, executive officer with the Saskatoon Region Association of Realtors (SRAR), said the decrease in the city was mainly due to mortgage rule changes and limited supply in the key $250,000-$400,000 price range.
Read the full article here.