Q1 2021 brought both the vaccine rollout but also renewed lockdowns, however, this time around many businesses knew how to respond, resulting in minimal job losses. Although sublet space remains an issue, the flood of space coming to the market has slowed, and some believe as 2021 progresses, and employees start returning to the office, we will start to see more sublet offerings being removed from the market.
Colliers Canada is pleased to present our 2021 Q1 National Market Snapshot, with national statistics and regional market insights including vacancy rates and average net asking rents for office and industrial fundamentals in 11 key markets across Canada.
Key findings from the report include:
- Despite both downtown and suburban office rents decreasing, the overall average continued to increase due to the larger proportion of higher-priced downtown space.
- The industrial market continues to experience demand from all sectors, resulting in strong positive absorption this quarter, continued vacancy compression, and upward pressure on rents.
Download the full report for more insights.