Oil prices to impact commercial, retail and industrial sectors

Declining oil prices are expected to create added challenges for Calgary's commercial market over the next 12 to 24 months, according to a new report from commercial real estate firm Avison Young.

Yet, the report also notes that because the city is home to one of the "most productive and best-paid workforces in the country" where average weekly earnings increased 5.1 per cent year-over-year to August 2014, the long-term outlook for the local business community is still positive.

Will add 'consistency' to housing stock numbers

Seeking to provide consumers and industry experts with a better picture of Calgary's housing market, CREB has altered some of the categories in its monthly housing report.

Prior to the changes, which will appear on the January housing update, the city's housing stock was separated into three categories: single-family, condominium apartment and condominium townhouse.

East Village continues growth in 2015, announces rental offering

Calgary Municipal Land Corp. (CMLC) president and CEO Michael Brown has proclaimed 2015 the Year of the Resident for Calgary's East Village.

Starting out as a blighted area between Inglewood and the downtown, East Village is fast becoming one of Calgary's most sought-after communities.

After being set for revitalization in 2007, the first residents will start moving in this May. Two condo towers in the community, FIRST and Fram + Slokker will open in May and August respectively, to about 800 of East Village's newest residents.

For the first time since September 2010, the Bank of Canada has changed the overnight interest rate. By decreasing it.

The rate is now 0.75 per cent.

In a release from the bank:

Jan. 14 marked CREB's annual economic outlook and regional housing forecast, Building Your Future.

The keynote for the forecast was investor, authour and TV personality Kevin O'Leary. O'Leary took some time before he hit the stage to sit down for a one-on-one covering everything from success to customer service to who he thinks is the greatest guitarist in the world.

 

CREB®'s president for 2015 is owner/broker of Royal LePage Benchmark, Corinne Lyall. Lyall took some time out of her busy schedule to chat with CREB®Now about the changing face of real estate, the first home she ever sold and how she likes to spend a day off in the city.

CN: Tell us a little bit about your background, what brought you to CREB?

Lyall: I grew up in real estate with my parents. My father, Clare, was in commercial real estate for almost 30 years, and my mom Jan started her career in the '70s, ultimately became a broker/owner and just dropped her license this past year.