The availability rate in Q4 dropped to a record low of 2.0%. This represents declines of -32bps QoQ and -82bps YoY.
- Rental rates in the GTA continue to increase, due to constrained market conditions. Rental rates grew on average 8.9% YoY from $5.75 to $6.31 per square foot in Q4 2017.
- Overall absorption reached 2,221,651 square feet this quarter due to new supply that was leased in the GTA West market.
- In 2017 over $2.8 billion real estate transactions were completed in the GTA, resulting in an average price per square foot of $146. This represents gains of 23% when compared to 2016.
- The GTA saw almost double the number of transactions from 2016 to 2017 with the most transactions reported for buildings between 10,000-50,000 square feet. Demand for these buildings made up more than half of all sale transactions in 2017.transactions in 2017.
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