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November 2011 Prairie Economic Fundamentals

Ally

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News articles for November 2011.
 

Ally

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2011 Winnipeg real estate market exceeding expectations



In what has clearly become a surprisingly consistent and impressive string of solid month sales, and October is no exception with the second best sales on record for this month, 2011 has now supplanted 2008 for second place and with two months to go, is less than two per cent off the strongest sales performance ever in 2007. Year-to date dollar volume is already the highest achieved in WinnipegREALTORSÂ 108-year history with $2.67 billion dollars` worth of MLSÂ sales.





October 2011 helped get the fourth quarter off to a great start with everything up in double-digit percentages. New listings rose 11 per cent, sales were ahead by 13 per cent and dollar volume reached 20 per cent. Only 2007, the year that 2011 is nipping at its heels, had better sales in October.





October MLSÂ unit sales increased 13 per cent (1,076/949) while dollar volume was up 20 per cent ($256.9 million/ $214.2 million) in comparison to the same month last year. Year-to-date MLSÂ sales are up 7 per cent (11,486/10,754) while dollar volume has increased 12 per cent ($2.67 billion/$2.39 billion in comparison to the same period last year. Nearly 70 per cent of all MLSÂ listings entered on the market this year have sold thus far.





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Ally

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Downtown soaring with the Jets




The wrecking ball is about to swing on the Wild Planet building on the north side of Portage Avenue, a demolition project that will kick-start a developmental revolution in downtown Winnipeg.




The now-abandoned building, once home to a busy retailer of rock 'n' roll posters and T-shirts and an arcade years before that, will be demolished in the next few weeks. Its razing will be the first tangible sign for Winnipeggers that the much-touted SHED, or sports, hospitality and entertainment district, has moved from the drawing board to reality.




"The rubber is hitting the road," said Ross McGowan, president of CentreVenture Development Corp., the downtown agency leading the SHED charge.





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Ally

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More immigrants making the prairies their first choice




More immigrants are flocking to the prairies and turning their backs on Ontario - a traditional hub for newcomers to Canada - according to new statistics.




The number of newcomers settling in Alberta increased to 32,642 in 2010 from 16,404 in 2001; Saskatchewan saw an increase to 7,615 from 1,704; and Manitoba saw 15,809 new faces, up from 4,591 a decade earlier.




Citizenship and Immigration Canada said part of the increase could be attributed to the Provincial Nominee Program that has given provinces more autonomy in selecting immigrants who match local or regional needs.





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