May 2012 Prairie Economic Fundamentals
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Saskatoon home sales up in April
Home sales continued their upward trend in April of this year.
Sales increased 20 per cent in Saskatoon and area in April compared to the same time in 2011.
Jason Yochim, executive officer of the Saskatoon Region Association of Realtors (SRAR), said a 15 per cent increase in the number of listings year over year helped to keep the market in balance.
Read the full article here.
Home sales continued their upward trend in April of this year.
Sales increased 20 per cent in Saskatoon and area in April compared to the same time in 2011.
Jason Yochim, executive officer of the Saskatoon Region Association of Realtors (SRAR), said a 15 per cent increase in the number of listings year over year helped to keep the market in balance.
Read the full article here.
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Saskatoon mayor OK with Regina's $200 million stadium request
Saskatoon Mayor Don Atchison says he does not begrudge Regina its request for $200 million for a new stadium.
Recently, the province ruled out ` at least for now ` giving Saskatoon $30 million to replace its condemned Traffic Bridge.
Earlier this week, the province confirmed its looking over a request from Regina for money for its revitalization plan, which includes a replacement for the aging Mosaic Stadium, where the Saskatchewan Roughriders play.
Read the full article here.
Saskatoon Mayor Don Atchison says he does not begrudge Regina its request for $200 million for a new stadium.
Recently, the province ruled out ` at least for now ` giving Saskatoon $30 million to replace its condemned Traffic Bridge.
Earlier this week, the province confirmed its looking over a request from Regina for money for its revitalization plan, which includes a replacement for the aging Mosaic Stadium, where the Saskatchewan Roughriders play.
Read the full article here.
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Saskatchewan sees strong export growth
Canada, and especially Saskatchewan, stand on the cusp of a new era of growth, largely driven by international trade and the recovery of the world's largest economy, according to the chief economist of Export Development Canada (EDC).
"What do we feel is really going to drive Canada forward? It really falls to international trade,'' Peter Hall told members of the Saskatchewan Trade and Export Partnership (STEP) here Wednesday.
"The good news is that we are expecting very good things to happen on that side of things,'' Hall said, in a surprisingly upbeat economic forecast.
Read the full article here.
Canada, and especially Saskatchewan, stand on the cusp of a new era of growth, largely driven by international trade and the recovery of the world's largest economy, according to the chief economist of Export Development Canada (EDC).
"What do we feel is really going to drive Canada forward? It really falls to international trade,'' Peter Hall told members of the Saskatchewan Trade and Export Partnership (STEP) here Wednesday.
"The good news is that we are expecting very good things to happen on that side of things,'' Hall said, in a surprisingly upbeat economic forecast.
Read the full article here.
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Saskatchewan offers tax rebate to boost rental stock
A new corporate income tax rebate aimed at increasing the amount of rental housing has been launched, the provincial government said Tuesday.
The rebate is expected to help add 10,000 new rental units to the province by the end of 2016. The program, announced as part of the recent provincial budget, is expected to increase the overall, purpose built rental market by 29 per cent.
Funding for the new rebate is estimated at $34 million for the first five years of the program.
Read the full article here.
A new corporate income tax rebate aimed at increasing the amount of rental housing has been launched, the provincial government said Tuesday.
The rebate is expected to help add 10,000 new rental units to the province by the end of 2016. The program, announced as part of the recent provincial budget, is expected to increase the overall, purpose built rental market by 29 per cent.
Funding for the new rebate is estimated at $34 million for the first five years of the program.
Read the full article here.
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Saskatchewan GDP up 4.8%
Saskatchewan's economy grew by 4.8 per cent in 2011 - second-highest among the provinces and the biggest increase in gross domestic product (GDP) since 1997, Statistics Canada said Friday.
It's the second year in a row Saskatchewan has placed second among the provinces in economic growth, posting a 4.2 per cent increase in 2010, behind Newfoundland and Labrador, which saw 5.8-per-cent GDP growth.
The federal agency attributed the strong economic growth largely to the goods producing sector - agriculture, mining, oil and gas production, and construction.
Read the full article here.
Saskatchewan's economy grew by 4.8 per cent in 2011 - second-highest among the provinces and the biggest increase in gross domestic product (GDP) since 1997, Statistics Canada said Friday.
It's the second year in a row Saskatchewan has placed second among the provinces in economic growth, posting a 4.2 per cent increase in 2010, behind Newfoundland and Labrador, which saw 5.8-per-cent GDP growth.
The federal agency attributed the strong economic growth largely to the goods producing sector - agriculture, mining, oil and gas production, and construction.
Read the full article here.
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The Saskatchewan labour market
In comparison to Canada`s other provinces ` both mainland and Atlantic ` Saskatchewan has created a limited number of jobs in recent months. Fall 2011 saw employment rise by only 0.1% and on a year-over-year basis job growth was up only 0.2% ` essentially unchanged and insignificant. Saskatchewan continues to be one of two provinces which trail the Canadian average in terms of employment gains and job creation.
Still, it was Saskatchewan`s job market that went through the 2008 recession better than all of Canada ` job losses occurred later, job gains were seen earlier and the overall drop in the province`s economic health was not as dramatic as was seen nation-wide. Overall, Saskatchewan shows a stable but slow job-growth environment with the end of 2011 marking a shift from part-time jobs to full-time jobs and full-time employment increasing by 2.8% despite employment numbers remaining rather flat
Read the full article here.
In comparison to Canada`s other provinces ` both mainland and Atlantic ` Saskatchewan has created a limited number of jobs in recent months. Fall 2011 saw employment rise by only 0.1% and on a year-over-year basis job growth was up only 0.2% ` essentially unchanged and insignificant. Saskatchewan continues to be one of two provinces which trail the Canadian average in terms of employment gains and job creation.
Still, it was Saskatchewan`s job market that went through the 2008 recession better than all of Canada ` job losses occurred later, job gains were seen earlier and the overall drop in the province`s economic health was not as dramatic as was seen nation-wide. Overall, Saskatchewan shows a stable but slow job-growth environment with the end of 2011 marking a shift from part-time jobs to full-time jobs and full-time employment increasing by 2.8% despite employment numbers remaining rather flat
Read the full article here.
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Changes to the Saskatchewan immigration program
Advanced Education, Employment and Immigration Minister Rob Norris have introduced key changes to the Saskatchewan Immigrant Nominee Program (SINP).
These changes are being made to streamline processing while enhancing the integrity of the immigration program in Saskatchewan and to address the labour market needs of the province
Read the full article here.
Advanced Education, Employment and Immigration Minister Rob Norris have introduced key changes to the Saskatchewan Immigrant Nominee Program (SINP).
These changes are being made to streamline processing while enhancing the integrity of the immigration program in Saskatchewan and to address the labour market needs of the province
Read the full article here.
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Saskatoon housing starts slip, but numbers remain strong
Saskatoon's housing starts moderated in April, but still remain at elevated levels, said Lai Sing Louie, a regional economist with Canada Mortgage and Housing Corporation.
In the Saskatoon census metropolitan area, a gain in single-detached starts could not compensate for weaker multi-family construction. A total of 189 single-detached units were started in April, 31 per cent higher than the previous year.
Read the full article here.
Saskatoon's housing starts moderated in April, but still remain at elevated levels, said Lai Sing Louie, a regional economist with Canada Mortgage and Housing Corporation.
In the Saskatoon census metropolitan area, a gain in single-detached starts could not compensate for weaker multi-family construction. A total of 189 single-detached units were started in April, 31 per cent higher than the previous year.
Read the full article here.
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Regina home sales, prices rise in April
The local real estate market continues to be one of the hottest in the country, posting double-digit increases in home sales and average prices last month.
Regina saw a 26.9 per cent year-over-year increase in sales of existing homes and a 16.3-per-cent increase the average selling price of homes in April - among the highest increases in the country - according to a report released Tuesday by the Canadian Real Estate Association (CREA).
Read the full article here.
The local real estate market continues to be one of the hottest in the country, posting double-digit increases in home sales and average prices last month.
Regina saw a 26.9 per cent year-over-year increase in sales of existing homes and a 16.3-per-cent increase the average selling price of homes in April - among the highest increases in the country - according to a report released Tuesday by the Canadian Real Estate Association (CREA).
Read the full article here.
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Good news on the job front for Saskatchewan
Saskatchewan is forecast to have the lowest unemployment rate in the country for the next two years.
The Conference Board of Canada's Provincial Outlook-Spring 2012 anticipates the province's unemployment rate will average 4.8 per cent this year and fall to 4.5 per cent next year - the lowest among all provinces.
"(Job growth) is broadbased," said Marie-Christine Bernard, the Conference Board's associate director, Provincial Outlook.
Read the full article here.
Saskatchewan is forecast to have the lowest unemployment rate in the country for the next two years.
The Conference Board of Canada's Provincial Outlook-Spring 2012 anticipates the province's unemployment rate will average 4.8 per cent this year and fall to 4.5 per cent next year - the lowest among all provinces.
"(Job growth) is broadbased," said Marie-Christine Bernard, the Conference Board's associate director, Provincial Outlook.
Read the full article here.
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Apartment, townhouse recycling likely mandatory in Saskatoon
Some consensus is developing on city council that a recycling program for apartments and townhouses will be citywide with a mandatory payment.
"I was originally opposed to mandatory recycling," said Coun. Randy Donauer. "But now that we have a program in place for single-family homes we need to follow through and be consistent across the city. If we're going to do it we have to do it for everybody."
Read the full article here.
Some consensus is developing on city council that a recycling program for apartments and townhouses will be citywide with a mandatory payment.
"I was originally opposed to mandatory recycling," said Coun. Randy Donauer. "But now that we have a program in place for single-family homes we need to follow through and be consistent across the city. If we're going to do it we have to do it for everybody."
Read the full article here.
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Doyle predicts strong potash sales
Potash sales are set to rebound, says Potash Corp. of Saskatchewan president and CEO Bill Doyle.
"We are going to have record export shipments in the second quarter of this year," said Doyle, who spoke after addressing PotashCorp's annual shareholders meeting in Saskatoon on Thursday.
"We see a very strong last nine months in 2012 and we see a very, very good year in 2013 as India and others return to the market in a more fulsome way."
Read the full article here.
Potash sales are set to rebound, says Potash Corp. of Saskatchewan president and CEO Bill Doyle.
"We are going to have record export shipments in the second quarter of this year," said Doyle, who spoke after addressing PotashCorp's annual shareholders meeting in Saskatoon on Thursday.
"We see a very strong last nine months in 2012 and we see a very, very good year in 2013 as India and others return to the market in a more fulsome way."
Read the full article here.
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Room to grow in Brandon
For the immigrants filing into Manitoba's city bounds, it may seem easier lately to find a job than it is to find an apartment. The second largest city and service centre in Manitoba after Winnipeg, Brandon has maintained steady employment for years, even during the more challenging recent economy.
While Canada's unemployment rate was at 8.5 per cent at the close of the year, it was at 5.7 per cent in Manitoba for December 2009, according to Statistics Canada.
Meanwhile, the vacancy rate has remained near zero in Brandon, at 0.2 per cent in October last year, according to the Canadian Mortgage and Housing Commission, compared to three per cent nationally. That has sent rents rising.
Read the full article here.
For the immigrants filing into Manitoba's city bounds, it may seem easier lately to find a job than it is to find an apartment. The second largest city and service centre in Manitoba after Winnipeg, Brandon has maintained steady employment for years, even during the more challenging recent economy.
While Canada's unemployment rate was at 8.5 per cent at the close of the year, it was at 5.7 per cent in Manitoba for December 2009, according to Statistics Canada.
Meanwhile, the vacancy rate has remained near zero in Brandon, at 0.2 per cent in October last year, according to the Canadian Mortgage and Housing Commission, compared to three per cent nationally. That has sent rents rising.
Read the full article here.