New supply outpaces Calgary industrial real estate absorption

CBRE report says the industrial market continues to see strong activity from national and multinational users

New supply outpaces Calgary industrial real estate absorptionDespite positive market fundamentals, the availability of space in Calgary’s industrial real estate market rose in the third quarter of this year due to new supply outpacing active absorption, says a report by CBRE. The third quarter “marked the 11th consecutive quarter of positive net absorption for Calgary’s industrial market,” said the report. “Although slightly…

New health and wellness college launched in Calgary

MCG Career College says it will offer a growing portfolio of programs that empower students

New health and wellness college launched in CalgaryA new private vocational college is being launched in Calgary to train students in health and wellness education. MCG Career College says it will offer a growing portfolio of programs and courses that empower students with the confidence and skills they need to become leaders and business owners in our community. Above all, it says,…

Canadian household credit accelerates

HELOCs often used for home improvement and renovation spending has been on a steep climb for 18 years: Scotiabank report

Canadian household credit acceleratesTotal chartered bank household credit growth in Canada accelerated in August, supported by an expansion in residential mortgage credit and non-mortgage credit that was the fastest in about two years, says a new report by Scotiabank. But the report also said that growth in home equity lines of credit (HELOCs) has slowed since its peak…

Calgary office vacancies trending down

Avison Young report says the tech sector should play a key role in Alberta’s future economy

Calgary office vacancies trending downThe overall Calgary office vacancy has been trending down for the last 18 months, according to a new market report by Avison Young. Peak vacancy was recorded in second-quarter 2018 at 23.5 per cent, and is over a full percentage point lower at 22.3 per cent in third-quarter 2019, added the report. “While the vacancy…

Newcomers to Alberta boosting real estate demand

Projected to purchase 76,000 homes in the region over the next five years at the current rate of international migration: Royal LePage

Newcomers to Alberta boosting real estate demandAlberta attracts approximately eight per cent of Canada's international migration and 45 per cent of newcomers buy a home, says a new report by Royal LePage. The residential real estate company said the newcomers are the most likely to believe that homeownership is a good financial investment (90 per cent). And they represent 18 per…

Alberta rents among the most affordable in Canada: report

Alberta rents among the most affordable in Canada: reportAlberta cities are among the least expensive when it comes to residential rental property in the country, according to a new report. The average Canadian property was listed for $1,954 per month in September just topping the previous high-water mark for the year of $1,953 in June, according to the October National Rent Report produced…

Commercial taxes a burden in Calgary, Edmonton: report

Property taxes should reflect the level of services used by ratepayers: Fraser Institute

Commercial taxes a burden in Calgary, Edmonton: reportThe commercial property tax rates in Calgary and Edmonton are two to three times higher than residential rates, with little rationale, says a report released on Thursday by public policy think-tank the Fraser Institute. The report said businesses in the two cities pay much higher property tax rates than residents, which can lead to businesses…

Calgary Economic Development appoints Joe Lougheed as new chair

Organization launches new campaign to attract tech talent to the city as it introduces eight new board members

Calgary Economic Development appoints Joe Lougheed as new chairCalgary Economic Development has appointed eight new people to its board of directors, including prominent Calgary lawyer Joe Lougheed as its chair. And the organization has launched a new campaign to attract tech talent to the city. The other directors appointed to three-year terms on the volunteer board are: David Duckworth, city manager, City of…

Alberta manufacturing sales dip in August

Across Canada, manufacturing sales rose by 0.8% to $57.6 billion in August, following two months of declines

Alberta manufacturing sales dip in AugustManufacturing sales in Alberta dipped in August, according to Statistics Canada. The federal agency reported on Thursday that sales in the province fell by 0.1 per cent to $6.3 billion. On an annual basis, they were down 4.3 per cent. Across Canada, manufacturing sales rose by 0.8 per cent to $57.6 billion in August, following…

Commercial real estate firm Cresa opens Edmonton office

Cresa is the world’s largest commercial real estate company

Commercial real estate firm Cresa opens Edmonton officeCresa, the world’s largest commercial real estate company that exclusively represents tenants and occupiers of space, has expanded its presence in Canada with a new office in Edmonton. “This is a great move for us. Cresa provides a platform of exclusive tenant representation, integrated services and belief in unwavering advocacy for their clients. By creating…
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