The overall vacancy rate for the Greater Edmonton Area stayed stable this quarter; however, the vacancy rate within Edmonton proper shrunk while the vacancy rate significantly increased in the surrounding areas.
- Edmonton was severely impacted by shutting down the economy as the unemployment rate rose to 15.7% in June, the highest unemployment rate in Canada.
- As the economy started to reopen, the willingness to renew leases and rent out new spaces increased.
- Leduc/Nisku saw an increase in vacancy from 6.5% in the first quarter to 8.1%. Leduc/Nisku have many larger warehouse and industrial spaces that are tied to the oil and gas industry