Despite seeing negative absorption this quarter, lease rates continue to climb in the Waterloo region, with a 4.2% year-over-year increase in average asking net rent recorded, now measured at $6.89 per square foot.
- A lack of supply continues to place pressure and drive lease rates and sale prices in an upward trend.
- Economic indicators and market fundamentals paint a picture of ‘more of the same’ for the next two quarters, with demand remaining strong across most sizes and classes of space.
