BC will lead the growth this year, recession for Alberta, NL
The latest assessment of Canada’s economy by the Conference Board forecasts a gloomy year ahead for Alberta and Newfoundland & Labrador while BC will be the star performer. Central Canada and Manitoba will also see growth and the report says the outlook for the economy in Ontario and Quebec is the best it’s been in years. British Columbia’s strong exports and housing marker will lead the growth in the province to 3.1 per cent. Growth between 2 and 3 per cent is expected in Manitoba, Prince Edward Island, Ontario, New Brunswick and Quebec. Nova Scotia will gain by around 1.5 per cent with Saskatchewan just under 1 per cent. Meanwhile NL will contract by 0.1 per cent and Alberta will suffer a 0.7 per cent decline. National GDP is expected to grow by 1.9 per cent.
Halifax market far from overheated say local realtors
The housing market in Halifax is a buyers’ market with a glut of new homes being listed. The Chronicle Herald reports that there were 10,944 homes listed in April while sales volume was 4,068. Real estate agent Ed Power says that despite the low sales-to-listings ratio there are some encouraging signs. In particular he has noticed an increase in first-time buyers in the market. There has also been an increase in homes bought by military personnel. Local real estate expert Al Demings also sees positive signs but warns that the apartment sector could be developing into a bubble that could burst one day as low sales have seen condo developers switch to rentals.
Study reveals cost of student housing
Attending the best university doesn’t always mean the highest cost of living. That’s the finding of a new study into student housing costs by Kijijiblog.ca compares the rankings of Canada’s top universities and colleges with nearby rents, and also the differential of living on or off campus. The on-campus costs include utilities whereas the off-campus ones do not. In some areas it is more expensive to live on campus than off, while the opposite is true in others. Kijiji found that the most expensive on-campus is at Royal Roads University in Victoria with a monthly cost of $2,334 a month with off-campus $1,116. The lowest cost is at Université du Québec à Trois-Rivières where students can expect to pay $289 on campus and $462 off.