January 2014 BC Economic Fundamentals
- Thread starter Ally
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Maple Ridge/Pitt Meadows power corridor
Larger Maple Ridge, just east of Pitt Meadows, has leveraged both bridges and incentives to draw real estate development. And all of the action convinced Calgary's Real Estate Investment Network (REIN) to rank Pitt Meadows-Maple Ridge the second-best real estate investment opportunity in B.C. in 2013 for the third straight year.
"We are very proud that our community has once again been signalled out for recognition by REIN," said Maple Ridge Mayor Ernie Daykin in July.
Read the full article here.
Larger Maple Ridge, just east of Pitt Meadows, has leveraged both bridges and incentives to draw real estate development. And all of the action convinced Calgary's Real Estate Investment Network (REIN) to rank Pitt Meadows-Maple Ridge the second-best real estate investment opportunity in B.C. in 2013 for the third straight year.
"We are very proud that our community has once again been signalled out for recognition by REIN," said Maple Ridge Mayor Ernie Daykin in July.
Read the full article here.
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Property values slip for Okanagan, Island
Residential property assessments are up slightly across most of B.C., with dips in average values in the Okanagan and on Vancouver Island.
The biggest increases were in the Northwest and Peace River regions, where total residential value rose about 10 per cent as natural gas and other industrial development picks up speed.
Read the full article here.
Residential property assessments are up slightly across most of B.C., with dips in average values in the Okanagan and on Vancouver Island.
The biggest increases were in the Northwest and Peace River regions, where total residential value rose about 10 per cent as natural gas and other industrial development picks up speed.
Read the full article here.
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Kitimat increases highest in 2014 B.C. property assessments
With more buyers calling on Kitimat`s real estate office than sellers and little new construction, it`s no surprise British Columbia`s new boom town is the leading northern resource community to see its 2014 property assessments skyrocket.
On average, the assessed value of single-family homes in Kitimat shot up 26.7 per cent, according to BC Assessment valuations released Thursday, to hit $228,000 from $180,000 a year ago.
Read the full article here.
With more buyers calling on Kitimat`s real estate office than sellers and little new construction, it`s no surprise British Columbia`s new boom town is the leading northern resource community to see its 2014 property assessments skyrocket.
On average, the assessed value of single-family homes in Kitimat shot up 26.7 per cent, according to BC Assessment valuations released Thursday, to hit $228,000 from $180,000 a year ago.
Read the full article here.
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Raw land is where the profit is
Metro Vancouver saw commercial real estate sales punch above the $5 billion mark for the first time last year - but it was not office towers, industrial buildings or shopping malls that dominated the deals.
It was raw land.
In Edmonton and Calgary the price for an acre of land zoned for multifamily is now more than $1 million. In big-city Manitoba and Saskatchewan - apparently surrounded by wide-open prairies - industrial land can fetch half-a-million dollars or more per serviced acre.
Read the full article here.
Metro Vancouver saw commercial real estate sales punch above the $5 billion mark for the first time last year - but it was not office towers, industrial buildings or shopping malls that dominated the deals.
It was raw land.
In Edmonton and Calgary the price for an acre of land zoned for multifamily is now more than $1 million. In big-city Manitoba and Saskatchewan - apparently surrounded by wide-open prairies - industrial land can fetch half-a-million dollars or more per serviced acre.
Read the full article here.
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Calgary real estate market to leave Vancouver in the dust
I recently sold my condo for a laughable price and purchased a half duplex for an even more outrageous sum.
That's just the way things are in Vancouver, where residential real estate is hot to the touch, a daunting high-stakes pursuit that can leave its players feverishly counting their remaining pennies.
Read the full article here.
I recently sold my condo for a laughable price and purchased a half duplex for an even more outrageous sum.
That's just the way things are in Vancouver, where residential real estate is hot to the touch, a daunting high-stakes pursuit that can leave its players feverishly counting their remaining pennies.
Read the full article here.
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Terrace housing options in development
A recent report revealing that Terrace has a zero vacancy rate for apartments and townhouses could yield unexpected benefits.
That's because developers who have been considering investing in Terrace now have hard evidence that more apartment and other rentals are needed, which in turn could prompt them to build sooner rather than later.
Read the full article here.
A recent report revealing that Terrace has a zero vacancy rate for apartments and townhouses could yield unexpected benefits.
That's because developers who have been considering investing in Terrace now have hard evidence that more apartment and other rentals are needed, which in turn could prompt them to build sooner rather than later.
Read the full article here.
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Metro Vancouver housing market expected to remain stable in 2014
VANCOUVER ` I recently sold my condo for a laughable price and purchased a half duplex for an even more outrageous sum.
That`s just the way things are in Vancouver, where residential real estate is hot to the touch, a daunting high-stakes pursuit that can leave its players feverishly counting their remaining pennies.
Read the full article here.
VANCOUVER ` I recently sold my condo for a laughable price and purchased a half duplex for an even more outrageous sum.
That`s just the way things are in Vancouver, where residential real estate is hot to the touch, a daunting high-stakes pursuit that can leave its players feverishly counting their remaining pennies.
Read the full article here.
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Vancouver`s west-side, east-side divide narrows on property values
VANCOUVER ` The changes aren`t big but for the second year single-family homeowners in Vancouver will see the west-side, east-side differential in their property values narrow with west-side homes losing a bit of ground and east side values rising, according to BC Assessment Authority data released this morning.
From the BCAssessment`s perspective, the picture is one of stability, according to Charmesh Sisodraker, deputy assessor for the Vancouver Sea to Sky region with most property owners seeing modest changes of plus or minus five per cent.
Read the full article here.
VANCOUVER ` The changes aren`t big but for the second year single-family homeowners in Vancouver will see the west-side, east-side differential in their property values narrow with west-side homes losing a bit of ground and east side values rising, according to BC Assessment Authority data released this morning.
From the BCAssessment`s perspective, the picture is one of stability, according to Charmesh Sisodraker, deputy assessor for the Vancouver Sea to Sky region with most property owners seeing modest changes of plus or minus five per cent.
Read the full article here.
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Vancouver real estate market steady, but lacks Prairie cities' sizzle
VANCOUVER ` I recently sold my condo for a laughable price and purchased a half duplex for an even more outrageous sum.
That`s just the way things are in Vancouver, where residential real estate is hot to the touch, a daunting high-stakes pursuit that can leave its players feverishly counting their remaining pennies.
Read the full article here.
VANCOUVER ` I recently sold my condo for a laughable price and purchased a half duplex for an even more outrageous sum.
That`s just the way things are in Vancouver, where residential real estate is hot to the touch, a daunting high-stakes pursuit that can leave its players feverishly counting their remaining pennies.
Read the full article here.
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Maps reveal Metro Vancouver's commuting habits
The stereotypical commuter coming into downtown Vancouver from the suburbs is the exception rather than the rule, according to an analysis of commuting data by The Vancouver Sun.
The data, from the 2011 National Household Survey, shows suburban residents are much more likely to work in the same city as they live ` or to commute to another suburb ` than they are to come into Vancouver each day.
Read the full article here.
The stereotypical commuter coming into downtown Vancouver from the suburbs is the exception rather than the rule, according to an analysis of commuting data by The Vancouver Sun.
The data, from the 2011 National Household Survey, shows suburban residents are much more likely to work in the same city as they live ` or to commute to another suburb ` than they are to come into Vancouver each day.
Read the full article here.
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Job rate stays steady in Prince George
Statistics Canada has seen no change in the unemployment rate in Prince George from last year. Senior Analyst Jason Gilmore says the employment level in Prince George for 2013 was at 50,000.
"Actually that's no different than what it was 12 months earlier," says Gilmore, "if we are comparing December 2012 to December 2013 so no change year over year, so December to December."
Read the full article here.
Statistics Canada has seen no change in the unemployment rate in Prince George from last year. Senior Analyst Jason Gilmore says the employment level in Prince George for 2013 was at 50,000.
"Actually that's no different than what it was 12 months earlier," says Gilmore, "if we are comparing December 2012 to December 2013 so no change year over year, so December to December."
Read the full article here.
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Shell's Kitimat LNG plant under pressure as new boss reins in spending
CALGARY ` Royal Dutch Shell PLC could delay plans to build a liquefied natural gas terminal on Canada`s West Coast as the company`s new boss reins in spending on major projects, dealing a blow to British Columbia`s export ambitions.
Industry sources say the European oil major has been trying to sell some of its B.C. natural gas holdings and may postpone a decision to go ahead with the export project as new chief executive Ben van Beurden ushers in a tighter spending regime at The Hague-based company.
Read the full article here.
CALGARY ` Royal Dutch Shell PLC could delay plans to build a liquefied natural gas terminal on Canada`s West Coast as the company`s new boss reins in spending on major projects, dealing a blow to British Columbia`s export ambitions.
Industry sources say the European oil major has been trying to sell some of its B.C. natural gas holdings and may postpone a decision to go ahead with the export project as new chief executive Ben van Beurden ushers in a tighter spending regime at The Hague-based company.
Read the full article here.
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BC business appears bullish on 2014
VANCOUVER ` British Columbians had good reason to feel downcast in 2013 about their province`s fiscal performance.
From a business perspective, it was a lacklustre year. GDP growth was 1.5 per cent with `essentially no overall job growth,` according to the Business Council of B.C.
Read the full article here.
VANCOUVER ` British Columbians had good reason to feel downcast in 2013 about their province`s fiscal performance.
From a business perspective, it was a lacklustre year. GDP growth was 1.5 per cent with `essentially no overall job growth,` according to the Business Council of B.C.
Read the full article here.
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2014 seen as transition year for B.C. economy
2014 could be a swing year for British Columbia`s economy.
Although the province now lags national growth, it will emerge as a leader when the buildup of the infrastructure to support a liquefied natural gas export industry begins, according to HSBC Bank Canada economist David Watt.
Read the full article here.
2014 could be a swing year for British Columbia`s economy.
Although the province now lags national growth, it will emerge as a leader when the buildup of the infrastructure to support a liquefied natural gas export industry begins, according to HSBC Bank Canada economist David Watt.
Read the full article here.
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Risks of falling prices in BC to ebb in 2014
B.C.'s cost of living has been unbelievable over the past year.
According to various economic forecasts, B.C.'s inflation rate will be under 1% in 2013. BMO is forecasting no overall increase in the consumer price index (CPI) in B.C.
Read the full article here.
B.C.'s cost of living has been unbelievable over the past year.
According to various economic forecasts, B.C.'s inflation rate will be under 1% in 2013. BMO is forecasting no overall increase in the consumer price index (CPI) in B.C.
Read the full article here.
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Downtown Victoria rental construction roundup
After decades of a near-freeze on rental housing construction throughout the south Island Victoria builders have recently eased off the condo bandwagon and are once again investing into rental housing.
The bread and butter of multi-unit developments throughout the 1960`s and 1970`s, rental projects in Victoria have traditionally been tied to either government-backed incentives or periods of exceedingly high demand. With the downtown condo market over-supplied and plenty of pre-sale units awaiting buyers, developers are tapping into a segment of the market in search of newly-built downtown housing without the commitment and investment required with condos. In tandem the financial outlook for rentals is strong while rates remain low and banks are eager to lend money.
Read the full article here.
After decades of a near-freeze on rental housing construction throughout the south Island Victoria builders have recently eased off the condo bandwagon and are once again investing into rental housing.
The bread and butter of multi-unit developments throughout the 1960`s and 1970`s, rental projects in Victoria have traditionally been tied to either government-backed incentives or periods of exceedingly high demand. With the downtown condo market over-supplied and plenty of pre-sale units awaiting buyers, developers are tapping into a segment of the market in search of newly-built downtown housing without the commitment and investment required with condos. In tandem the financial outlook for rentals is strong while rates remain low and banks are eager to lend money.
Read the full article here.
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In Japan, an LNG revolution looks to Canada
It`s winter, and the grass is struggling to take root on the roof of a cavernous new underground tank on the shores of Tokyo Bay. Workers completed the tank, with its thick insulating concrete walls and brilliant stainless steel inner liner, in October. Soon after, it accepted its first load of liquefied natural gas (LNG), chilled to -162 C.
Read the full article here.
It`s winter, and the grass is struggling to take root on the roof of a cavernous new underground tank on the shores of Tokyo Bay. Workers completed the tank, with its thick insulating concrete walls and brilliant stainless steel inner liner, in October. Soon after, it accepted its first load of liquefied natural gas (LNG), chilled to -162 C.
Read the full article here.
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Major LNG contract awarded
VICTORIA - A major LNG project proposal has reached another milestone today with Chevron/Apache awarding the consortium of JGC/Fluor with a contract to lead all engineering, procurement and construction services for the proposed Kitimat LNG plant site at Bish Cove near Kitimat.
"Today's news is another strong sign of LNG projects advancing in B.C. - which means another step towards realizing an unprecedented opportunity to create jobs and stronger communities throughout British Columbia," said Premier Christy Clark. "There are already 400 people supporting their families by working on the proposed Kitimat LNG facility site - one that has the potential to benefit all British Columbians."
Read the full article here.
VICTORIA - A major LNG project proposal has reached another milestone today with Chevron/Apache awarding the consortium of JGC/Fluor with a contract to lead all engineering, procurement and construction services for the proposed Kitimat LNG plant site at Bish Cove near Kitimat.
"Today's news is another strong sign of LNG projects advancing in B.C. - which means another step towards realizing an unprecedented opportunity to create jobs and stronger communities throughout British Columbia," said Premier Christy Clark. "There are already 400 people supporting their families by working on the proposed Kitimat LNG facility site - one that has the potential to benefit all British Columbians."
Read the full article here.
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Forestry 'super cycle' a long time coming
There are those who say that the independent forest sector is a sunset industry. But the overriding message at last week`s Truck Loggers Association convention in Vancouver is that a `super cycle` is on the horizon. After a decade of mixed blessings and setbacks, the convention proposed a new era of doing business in the woods.
There was a time when the forest sector was the number one industry in B.C., but things have changed. While it once accounted for 25 per cent of the province`s GDP, in 2013 the industry was down to about 11 per cent. It`s done a terrible job of managing its public image and it employs only a fraction of the men and women it did a generation ago.
Read the full article here.
There are those who say that the independent forest sector is a sunset industry. But the overriding message at last week`s Truck Loggers Association convention in Vancouver is that a `super cycle` is on the horizon. After a decade of mixed blessings and setbacks, the convention proposed a new era of doing business in the woods.
There was a time when the forest sector was the number one industry in B.C., but things have changed. While it once accounted for 25 per cent of the province`s GDP, in 2013 the industry was down to about 11 per cent. It`s done a terrible job of managing its public image and it employs only a fraction of the men and women it did a generation ago.
Read the full article here.