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.
National Office Dashboard Population Over 1M Q3 2018