NWC Investment Properties
January 13, 2019
Population growth in Alberts showed a gain of nearly 20,000 people in the third quarter of 2018 according to State Canada putting Canada’s Population at 4,306,039. This shows the fastest growth for Alberts since 2014. The growth came from international migration that added 10,360, natural growth of 8,800, that total number of birth minus total deaths, interprovincial growth of 743.
Of Canada’s total immigration number of 70,000 nearly 12% move to Alberta.
More good news from Perter Kinch, Mortgage and Investment Advisor, Bank of Canada has held interest rates for Jan. and may even drop the rate due to the ever softening economy, global trade wars and uncertain international markets. As a result the Government needs to but the brakes on interest rate hikes, FOR NOW.
Perter suggest you may consider having a look at your mortgages, if you are in a variable rate mortgage with a discounted rate you may want to lock in. Please check with your mortgage broker for proper advice or contact me at firstname.lastname@example.org and I will introduce you to one of Canada largest (and best) Mortgage Brokerage firms for advice and review of your mortgage.
This past week we have ongoing troubles in the energy patch with continued uncertainty and more protest. This contributes to the overall employment picture in Alberta. Not since 1986-1988 has Alberts’s unemployment rate been higher than Canada’s and for the third straight year. Nov. saw Alberta’s rate at 6.7% and Canada is 5.8%. Edmonton’s rate is 6.5% and Calgary is hit a bit harder at 7.9%.
On the brighter side Alberta did see a net gain in jobs in 2018 over 2017 of 21,600 jobs. Health and social assistance added 23,400, business and building added 11,800 and manufacturing added 10,000. The public sector added 2100 jobs while the private sector added 14,600, another 5,000 were added as self-employed. Service providers and the housing providers and support sector lost 10,300 jobs. Again the continued issue with pipelines and energy have had a detrimental effect on the job picture.
Also Alberta’s trade picture looks pretty descent. Alberta international merchandise export reached $9.5 billion, slightly down from Nov. but year over year up 11.4%. Nearly all categories saw increase except for industrial chemicals. Industrial Machinery tops the list of exports with a year over year increase of 30%. All in All Alberta’s trade picture does’t look too bad.
Residential and commercial builders in the province showed more of a steady state than a crisis this past Nov. with permits for residential and non residential totalling $1.068B. Edmonton permits totalled $388M while Calgary totalled $454M. Edmonton and Calgary were both just below their two years average. Despite the fragile economy and excess real estate supply the building sectors is holding steady.
I am optimistic that 2019 will be a good if not great year for us. I have plans to expand my Real Estate Portfolio holdings in Fort Saskatchewan, Leduc and Spruce Grove areas. With the continued challenges new buyers have acquiring mortgages more will continue to rent providing Investors, RESIDENTIAL HOUSING PROVIDERS, with a steady supply of customers for the foreseeable future.
NWC Investment Properties.