by Contributed - Story: 59301
Jan 7, 2011 / 5:00 am
Jan 7, 2011 / 5:00 am
Happy New Year and it is hopefully a better year for our economy than last year. It certainly looks to be that way for real estate. Whilst predictions are bearish, there are signs of increasing activity, certainly for my office we have seen more activity than usual over the holiday season which is typically very quiet.
We shared with you the good news stories for Kelowna a few weeks ago and now it is time to confirm that the good news is happening to the east of us too with our neighbours in Alberta.
I was scanning the headlines for the oil patch a few days ago to see if the industry had mobilized and it certainly has. My contacts in Northern Alberta are telling me that jobs are available, work is busy and ancillary businesses such as restaurants and hotels are benefiting from increased work. Alberta is even talking about hiring problems again this year. A recent article in the Calgary Herald had this to say:
"Nearly 12,000 oil and gas wells have been drilled in Western Canada in 2010, the second-weakest number of the past decade, but still representing a 30 per cent rebound over 2009.
Oil and gas activity is expected to continue to grow this year, observers say, a bellwether of better economic times especially for rural Alberta, where many of the thousands of oilpatch workers reside and where dozens of oilfield services companies buy meals and rent hotel rooms.
"We're starting to see a lot more optimism in the community not only from 2010 but going forward into 2011," said Mayor Moe Hamdon of Drayton Valley, a centre of unconventional oil development this year.
"And 2012 is projected to be the largest year ever as far as activity in the oilfield in the Drayton Valley area."
Read more: Optimism riding high in Alberta oilpatch
While natural gas prices may be a cause for concern, many companies are moving their efforts to the oil patch for 2011.
While this column is not focused on oil activity per se, it does have a marked effect on BC and the Kelowna market in general. With some good fortune we will see increased tourism here this year even though our dollar will suppress that a little, domestic tourism can mean a lot to us in terms of home sales. Naturally we look forward to a silver lining and 2011 may just bring that.
We shared with you the good news stories for Kelowna a few weeks ago and now it is time to confirm that the good news is happening to the east of us too with our neighbours in Alberta.
I was scanning the headlines for the oil patch a few days ago to see if the industry had mobilized and it certainly has. My contacts in Northern Alberta are telling me that jobs are available, work is busy and ancillary businesses such as restaurants and hotels are benefiting from increased work. Alberta is even talking about hiring problems again this year. A recent article in the Calgary Herald had this to say:
"Nearly 12,000 oil and gas wells have been drilled in Western Canada in 2010, the second-weakest number of the past decade, but still representing a 30 per cent rebound over 2009.
Oil and gas activity is expected to continue to grow this year, observers say, a bellwether of better economic times especially for rural Alberta, where many of the thousands of oilpatch workers reside and where dozens of oilfield services companies buy meals and rent hotel rooms.
"We're starting to see a lot more optimism in the community not only from 2010 but going forward into 2011," said Mayor Moe Hamdon of Drayton Valley, a centre of unconventional oil development this year.
"And 2012 is projected to be the largest year ever as far as activity in the oilfield in the Drayton Valley area."
Read more: Optimism riding high in Alberta oilpatch
While natural gas prices may be a cause for concern, many companies are moving their efforts to the oil patch for 2011.
While this column is not focused on oil activity per se, it does have a marked effect on BC and the Kelowna market in general. With some good fortune we will see increased tourism here this year even though our dollar will suppress that a little, domestic tourism can mean a lot to us in terms of home sales. Naturally we look forward to a silver lining and 2011 may just bring that.
0 comments:
Post a Comment