The investment market rebounded slightly in Q1, but as expected volume was down year-over-year, declining 49% from Q1 2022.
- The 49% decline in Canada was favourable in the global sphere, compared to the declines seen in Europe (68%), Australia/New Zealand (78%), and South Korea (85%).
- After a difficult 2022, optimism on the macro front stems from two connected trends: the end of rate hikes from the Bank of Canada in January, and the tapering of inflation, down considerably from its peak in mid-2022.
- Institutional buyers have been absent from the market in Q1 2023, after reaching record low share of the buy side last year.