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Research

National Office Dashboard Population Over 1M Q3 2018

National Office Dashboard Population Over 1M Q3 2018

National Office Dashboard Population Over 1M Q3 2018
  • Greater Vancouver recorded positive absorption for the 6th straight quarter, and vacancy rates continued to drop, particularly in the downtown core.
  • Calgary’s downtown vacancy continues to remain steady, however, there has been significant absorption through 2018. With 278,385 SF of absorption in the third quarter of the year.
  • The Edmonton Office market remained positive this quarter in terms of leasing activity, with a total of 60,997 SF in positive absorption being reported and a cycling of older inventory for new being the major theme.
  • Toronto’s vacancy continues to shrink, and retains its title as the tightest major metropolitan market in North America.
  • Ottawa’s vacancy rate has been declining and is now 7.7% overall, with the CBD vacancy rate at 5.8%.
  • The rental market for Montreal office space was very dynamic in the third quarter of 2018.

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