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May 2013 Prairie Economic Fundamentals

Ally

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News articles for May 2013.
 

Ally

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Property values soar in Saskatchewan




Residential property values in Saskatchewan are rising faster than anywhere in Canada.




Assessed home values jumped 133 per cent between 2006 and 2011, according to a report released by Statistics Canada this week.





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New housing rentals must not disrupt existing neighbourhoods, Regina residents say




REGINA ` In Wilma Staff`s inner-city neighbourhood, many small, early 20th Century houses dot narrow streets lined with parked cars.




The district is largely made up of either young families in their first house, Staff said, or older citizens who have called the area home for decades. Like all neighbourhoods, hers has a certain feel, a unique character fiercely protected by residents.





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Saskatchewan's unemployment rate lowest in the country




OTTAWA ` Saskatchewan`s unemployment rate remains the lowest in Canada.




Statistics Canada reported today April`s unemployment rate in the province was 4.0 per cent, a slight increase from 3.9 the previous month but down 0.9 percentage points from the same period last year.





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Home is elusive for many in Regina's current rental market




REGINA ` Toni Toto is running out of patience in her search for a place to call home.




Since moving to Regina from the Piapot First Nation in February, the 19-year-old has walked through the doors of Carmichael Outreach a dozen times to eye a list of apartments and houses for rent.





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Unemployment line grows longer in northern Saskatchewan




Saskatchewan as a whole has the lowest unemployment rate in the country, but not every corner of the province is thriving.




According to Stats Canada's latest job report, there were 1,000 fewer people working in the Prince Albert and northern region in April, compared to the same time last year.




"The growth rate in 2012 was 1.5 per cent, so we created a couple thousand jobs last year. So to lose them in the first part of 2013 is a concern," said Doug Elliot with Sask Trends Monitor Magazine.





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Committee OKs plan for new Winnipeg neighbourhood




A new neighbourhood could soon crop up on the outskirts of Winnipeg.




The City of Winnipeg`s property committee approved a plan from several property developers to create a new development south of Charleswood.





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Bitumen royalty program wins support from all-party committee




EDMONTON - Once considered controversial for its potential to impact the free marketplace, Alberta`s bitumen royalty-in-kind (BRIK) program has now won the support of politicians from all provincial parties.




And with construction of the Redwater bitumen refinery now underway, an all-party committee issued a report stating it wants to see more such projects, particularly those with carbon capture and storage components.





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Manitoba proposes new rental laws




The Manitoba government proposed new legislation on Wednesday that would see tenants kicked out quicker if they break the law in someone`s home.




`We`re ` giving landlords new powers to evict tenants who break the law, such as drug dealers, because illegal activity can create an unsafe living environment for tenants and real problems for landlords,` said healthy living minister Jim Rondeau.





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Amid economic boom, affordable housing is a must





Recent summits in Saskatoon and Regina were held to address housing issues in those regions and in Saskatchewan generally, and they both certainly highlight the need for new and innovative approaches that will increase housing supply in many communities around the province.







Builders and developers constantly look for efficiencies in their materials acquisition, building processes and time management to bring housing products to the marketplace that is both high in terms of quality while offering competitive pricing, choice, attainability and affordability.





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North Dakota and Saskatchewan towns have different takes on oilsands boom




The Bakken oilfield that includes southern Saskatchewan and North Dakota contains an estimated 577 billion barrels of oil, and production is expected to top one million barrels a day by this summer in North Dakota. This ranks Bakken as one of the most prolific oilpatches in the world, second only to the Alberta oilpatch in North America and number 2 behind Texas in the United States.




Getting at the oil - with reserves equal to Saudi Arabia - is made possible with new horizontal drilling and high-pressure "fracking" that frees the oil from rock.




On the Saskatchewan side, oil production hit a record daily average of 473,600 barrels a day last year, and the trend is accelerating.





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More than 91,000 litres of oil spilled from derailed Saskatchewan train




The accident happened as the eastbound train was rolling through an area near the village of Jansen, about 150 kilometres southeast of Saskatoon.




Five cars jumped the track, but the company say only one leaked.





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Regina ranked second-best boom city in Canada




REGINA -- A robust economy, low unemployment and affordable house prices make Regina the second best city to live in, according to Canadian Mortgage Inc.




The Toronto-based company ranked Edmonton No. 1. Despite having the highest crime rate per capita, Regina fared well in all other categories.





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There's more to new neighbourhoods than houses



When setting in place a research agenda that seeks to examine both the costs and benefits of growth and development, it's important to keep property tax discussions and the related operating budget issues separate from capital budget matters and development costs.





The costs paid by developers and builders, both commercial and residential, are solely intended to provide for critical infrastructure in new developments and where necessary to contribute to the enhancement of existing infrastructure that is needed to support basic services in new neighbourhoods. Levies paid for development are not intended to pay for operations like garbage pickup, snow removal or road repairs. These are operating budget issues paid for through property taxes or user fees and not through capital budgets or development fees.





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