Prices of new homes fell by 10.4 per cent year-over-year in Edmonton and 6.5 per cent in Calgary as the economic downturn becomes more deeply entrenched in the once-booming West.
Country-wide, the prices of new homes moderated by 0.8 per cent in January compared with the year-earlier month, Statistics Canada reported Wednesday.
Between December and January of this year, contractors’ selling prices declined by 0.6 per cent, a slightly faster pace than the 0.1-per-cent decline the previous month.
The month-to-month declines were steepest in Edmonton, Calgary, Victoria and Vancouver, Statscan said. “Builders in all four cities report difficult market conditions.”
Source: The Globe and Mail
Posted on 11 March '09, under Business, Real Estate. No Comments.
OTTAWA — Contractors’ selling prices for new homes declined 0.1 per cent between November and December, their third straight monthly decrease.
Statistics Canada reports new housing prices fell 0.7 per cent in Saskatoon in December, as some builders in the city reported reduced labour costs. Prices declined 1.3 per cent in Calgary and 0.3 per cent in Edmonton.
Monthly prices increased 0.2 per cent in OttawaGatineau in December, while they remained unchanged in Toronto and Oshawa, Quebec City, Montreal and Vancouver.
The largest year-over-year increase was registered in St. John’s, N.L., at 24.4 per cent, followed by Regina (21.7).
In Quebec, the 12-month growth rate was 5.4 per cent, while in Montreal, prices increased 4.6 per cent.
Compared with December 2007, contractors’ selling prices were 4.5 per cent higher in OttawaGatineau and 1.9 per cent higher in Toronto and Oshawa.
Source: The Canadian Press
Posted on 11 February '09, under Business, Real Estate. No Comments.
Posted on 4 February '09, under Houses, Wow!. No Comments.
Aecon Group Inc., the Canadian construction company, agreed to buy Lockerbie & Hole Inc. for about C$220 million ($177 million) to expand its business in western Canada’s oil-sands industry.
Aecon, based in Toronto, offered C$8 a share in cash and stock, 30 percent more than Lockerbie’s closing price of C$6.15 on Jan. 30, the companies said today in a statement. Aecon expects the deal will add to earnings in the first year, excluding amortization costs.
The transaction will allow Aecon to expand in western Canada’s construction and wastewater-management industries and add to its services for energy companies in Alberta’s oil sands, Aecon said. Lockerbie, based in Edmonton, Alberta, does construction primarily in oil sands, mining and commercial markets.
Aecon will pay 75 percent in cash and will issues shares to Lockerbie investors for the remainder. Lockerbie will pay Aecon a C$7.2 million fee if the transaction isn’t completed.
Shareholders with 29 percent of Lockerbie stock agreed to vote in favor of the transaction, the companies said. The takeover requires the support of two-thirds of Lockerbie shareholders.
GMP Securities advised Lockerbie, while TD Securities worked with Aecon.
Lockerbie rose C$1.57, or 28 percent, to C$7.90 at 3:59 p.m. in trading on the Toronto Stock Exchange. The company sold shares in an initial public offering at C$10.25 each in 2007. Aecon fell 24 cents, or 2.3 percent, to C$10.01.
Posted on 2 February '09, under Business. No Comments.
Residents need not worry about leaving their idle car running too long.
Council did not pass the anti-idling bylaw last week, opting instead to develop a multi-year public awareness and education campaign to reduce vehicle idling that will focus on high-priority areas including schools and hospitals.
The proposed campaign will be funded by the 2009 Office of the Environment Eco-Outreach program.
Coun. Jane Batty proposed the amendment. Council previously heard from 19 speakers on vehicle idling during a community services meeting the week prior.
“To deal with it today might not do it justice,” Batty said.
“From all the emails we received, and I know we got hundreds and hundreds of them, I got (roughly) 10 emails against a bylaw to one in favour. Through public awareness and education is how you slowly (get) public acceptance.”
Coun. Karen Leibovici says she feels you can’t have the education piece without the bylaw piece.
“I think that the campaign is probably one way to go,” she says. “We (need to) provide timelines for a pro-active anti-idling bylaw because what I’m reading, the education may go on for years.”
Coun. Ron Hayter says he supports Batty’s motion to hold off on enforcing the bylaw and continue with the campaign.
“I don’t believe the bylaw that’s proposed would be one that would be effective and accepted by the public,” he says. “I don’t want to see all these bylaw officers running around with stopwatches to make sure somebody isn’t violating the terms of the bylaw, and having neighbours snitching on neighbours.”
Council also passed a motion made by the mayor for a possible accompanying implementation plan for the bylaw after the campaign ends. A third motion made by Hayter was passed, as well, for the city to review and report on other excessive idling bylaws in other municipalities.
Source: canoe.ca
Posted on 29 January '09, under News. No Comments.
When: 2/6/2009 Friday, February 06, 2009 7:00 PM - 9:00 PM
Where: The Laugh Shop - 6606 137TH AVE.
Type: Edmonton Celebrity, Comedy, Concerts, Special
About: Through a slew of career successes and setbacks, Jamie does what he knows best persevere.
Posted on 28 January '09, under Events. No Comments.
Interesting find about Radio Stations here in Edmonton.
Posted on 28 January '09, under Business, Radio. No Comments.
One of the worst losses in franchise history. It’s been said … now lets move on.
Posted on 28 January '09, under Oilers. No Comments.
The City of Edmonton is moving forward on its crackdown on aggressive panhandlers, a group of about 20 or 30 people who police estimate were responsible for 90 per cent of the complaints they received last year.
“I know of one individual that lives in a high-rise downtown,” Edmonton police Insp. Brian Nowlan said Monday. “He makes about $400 a day panhandling, so this is way of making an income.”
At $400 a day, they would make about $140,000 a year. Tax Free!!
Posted on 27 January '09, under News. No Comments.
The 2008 Rexall Edmonton Indy was a hit with fans and race car drivers, but it was a financial wreck.
The July 26 race, which marked the Edmonton debut of the Indy Racing League, lost a whopping $5.3 million according to an event summary released Wednesday by Edmonton Northlands, the event operator.
Is it going to be around next year? You Betcha!
Posted on 22 January '09, under Business, Events. No Comments.
Are there any currently for sale