October 2014 Alberta Economic Fundamentals

Ally

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Economists optimistic about Alberta's economy despite oil price plunge





Alberta`s energy-fired economy will continue to charge ahead, despite a hefty pullback in crude oil prices over the past three months.





That`s the word from two leading economists in the wake of a 15-per-cent plunge in the price of West Texas Intermediate (WTI), the benchmark grade of U.S. light crude, since mid-June.





Read the full article here.
 

Ally

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Booming Airdrie sets resale housing record





CALGARY - Calgary`s residential real estate market has been described as hot this year.





But what Airdrie has experienced is simply sizzling.





After three quarters of the year, the small city north of Calgary has already set an annual record for MLS sales.





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Ally

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American developer building 500,000 square foot distribution centre in Balzac area





CALGARY - A major investment and real estate development company in the United States, owned by Ross Perot Jr., son of the former presidential candidate and well-known American businessman, is building a 500,000-square-foot distribution facility on spec in the Balzac area, the Herald has learned.





Hillwood Investment Properties is partnering with Calgary-based Highfield Investment Group on the High Plains Industrial Park development and it represents the Dallas-based company`s first venture into the Canadian commercial real estate market.





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Ally

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Lloydminster on top for real estate investment





You have to be the best of the best to come out on a `Top 100` list when there are more than 3,700 municipalities in Canada.





Lloydminster fits the bill, recently being named one of Canada`s top 100 neighbourhoods to invest in by Canadian Real Estate Wealth magazine. The magazine used data collected by the Teranet ` National Bank House Price Index to rank Canadian cities and towns in terms of price appreciation, yield and rental values.





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Ally

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Multi-family construction pushes Calgary housing starts upward





CALGARY - Multi-family starts continue to push new home construction to elevated levels in the Calgary region.





According to Canada Mortgage and Housing Corp., there were 1,042 multi-family starts in the Calgary census metropolitan area in September, up a significant amount from 309 units a year ago. That pushed total starts to 1,528 for the month, which was an increase from 904 in September 2013.





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Ally

Research Assistant
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Edmonton housing starts continue to trend upward





EDMONTON - The pace of single-detached and multi-family housing starts in Edmonton continued to pick up in September, Canada Mortgage and Housing Corp. reported Wednesday.





Housing starts in the Edmonton census metropolitan area were trending at 14,650 units in September, compared to 13,850 in August, CMHC said.





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Ally

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It's Calgary's time to shine





Toronto condo developer Brad Lamb doesn't need convincing that Calgary has become a hotbed of multifamily residential construction.





Figures released Wednesday by Canada Mortgage and Housing Corp. confirm local housing starts in the sector are soaring. It said 1,042 multi-family units were started in





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Ally

Research Assistant
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Grand rapids pipeline in Edmonton area OK'd





EDMONTON - TransCanada`s $3.2-billion Grand Rapids pipeline project to the Edmonton area received a green light Thursday, though the regulator ordered some route changes.





The project will ship 900,000 barrels per day of diluted bitumen from the oilsands near Fort MacKay to a terminus near Edmonton. That`s almost twice the capacity of the proposed Northern Gateway to the West Coast.





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Ally

Research Assistant
Registered
Cochrane reaches all-time MLS high





CALGARY - Cochrane has joined Airdrie and Chestermere for reaching an annual sales record in the resale housing market after just three quarters of the year.





According to Mike Fotiou, associate broker with First Place Realty, MLS sales in Cochrane year-to-date until the end of September hit the 610 mark, up 38.32 per cent from the same period last year.





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Ally

Research Assistant
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$350 million skyscraper project proposed in Fort McMurray





A Vancouver-based company is proposing a $350-million development project that promises to forever change the face of Fort McMurray.





If approved, the Golden Buffalo Centre would be constructed over three years beginning next spring and include two skyscrapers offering more than 600,000 combined square feet of office, hotel and retail space.





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Ally

Research Assistant
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Surging sales belie mythical oil market access story





The lack of market access for Canadian crude - leveraging off the Keystone XL pipeline debate and the lament over the "bitumen bubble" - has probably been the most-enduring narrative in the Canadian oil industry during the past couple years.





It's a compelling story, except that it's not true.





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Ally

Research Assistant
Registered
Realtors say population growth is boosting Edmonton housing prices





EDMONTON - Edmonton`s fast-growing population is forcing real estate prices up, says the Realtors Association of Edmonton.





The group released Wednesday Multiple Listing Service (MLS) figures for August. Here`s a look at the month`s housing market by the numbers.





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Ally

Research Assistant
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Alberta leads the way in job creation





The latest job market numbers in Canada show that the unemployment rate is down to its lowest level in six years.





According to Statistics Canada, Alberta is leading the way in job creation.












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Ally

Research Assistant
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Grand Rapids pipeline approved by Alberta Energy Regulator








The Alberta Energy Regulator has approved the $3-billion Grand Rapids oil pipeline with 26 conditions.





The pipeline is designed to ship up to 900,000 barrels of diluted bitumen per day from near Fort McMurray, Alta., to the Edmonton area.





Several of the conditions deal with the pipeline's route and others deal with enhanced environmental monitoring and mitigation to better protect wildlife and wetlands.





Read the full article here.
 

Ally

Research Assistant
Registered
It's Calgary's time





Toronto condo developer Brad Lamb doesn't need convincing that Calgary has become a hotbed of multifamily residential construction.





Figures released Wednesday by Canada Mortgage and Housing Corp. confirm local housing starts in the sector are soaring. It said 1,042 multi-family units were started in





Read the full article here.
 

Ally

Research Assistant
Registered
Calgary's Northwest office market under-service by new space





CALGARY - The suburban office market in Calgary is mirroring these days what`s happening in the downtown core.





Demand has slowed but there`s still that trend toward a flight to quality for office space.





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Ally

Research Assistant
Registered
In Alberta, anxiety grows over declining oil prices





Alberta`s oil patch and government are watching nervously as the slump in world oil markets threatens the province`s economic boom.





The price of West Texas Intermediate (WTI) crude, a grade used as a benchmark in pricing, fell slightly to $81.78 (U.S) a barrel on Wednesday, extending a recent rout that has taken it down 10 per cent this month alone. Oil prices have tumbled as the demand for crude in major economies has fallen and producing countries have stared each other down, refusing to cut output for fear of losing market share.





Read the full article here.
 

Ally

Research Assistant
Registered
American company eyes Balzac





A Dallas-based real estate investment and development company is poised to make its entrance into the Canadian real estate market.





Hillwood, owned by Ross Perot Jr., and local land developer Highfield Investment Group (HIG) have recently partnered up to bring an industrial development to High Plains Industrial Park, located in Balzac.





Read the full article here.
 

Ally

Research Assistant
Registered
Oilsands spending mood 'somewhat' negative





CALGARY ` Falling oil prices have turned investment sentiment in the oilsands to `somewhat more negative,` according to a survey of companies that design, build and maintain projects in northern Alberta.


Respondents were evenly split when asked if they think capital spending in the sector would meet or miss their prior expectations in 2014-15, said analyst Maxim Sytchev of Dundee Capital Markets.





Read the full article here.
 

Ally

Research Assistant
Registered
Calgary shelters bursting at the seams, bracing for difficult winter





Shelley Ward, her husband Curtis Goodin and the couple`s three daughters, aged 15, 10 and six, used to call a three-bedroom northeast townhouse home.





But when their landlord sold the townhouse, the family of five was given a 90 day notice to vacate in June and Ward immediately set to work looking for a new place for her family to rent.





Read the full article here.
 
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