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Research

National Office Dashboard Population Under 1M Q4 2018

National Office Dashboard Population Under 1M Q4 2018

National Office Dashboard Population Under 1M Q4 2018
  • 2018 was a record-setting year for the Victoria office market with approximately 428,000 square feet of positive absorption.
  • The Thompson Okanagan office market experienced another drop in the vacancy rate for a third consecutive quarter reaching 4.5% in the fourth quarter of 2018
  • The Saskatoon office market is stable but expects seismic change over the next five years with new development adding almost 13% to the total inventory.

  • At the close of 2018, Regina’s downtown office market vacancy rose slightly, signifying the ongoing economic stagnation evident in the province of Saskatchewan.
  • The Winnipeg office market rebounded after the introduction of 365,000 square feet of new AA supply in Q3 with 41,259 square feet of absorption in the last quarter.
  • The Waterloo Region office market continues to be strong. Annual absorption reached close to 785,000 square feet, including 143,000 square feet in the downtown areas and 642,000 square feet in the suburbs.
  • Halifax's Downtown area continues to be a tenant’s market with overall vacancy remaining the highest of the four submarkets at 18.9%.

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