We are pleased to provide you with some of the key insights that are available in our updated market reports
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Learn how the following factors could impact the Commercial Real Estate market:
1. Canadian employment rose by 231K overall and the unemployment rate fell to 7.8% in June. The improvement was broadly due to easing restrictions as vaccinations ramped up significantly and the spread of the virus appears to now be in check.
2. Canada’s headline inflation rate rose by 3.1% y/y in June but was down from the previous month. Although cooling in June, price pressures are likely to continue rising in the months ahead due to reopening of the economy.
3. Restrictions weighed on retail spending in May with core (ex. auto and gas) sales down 2.4% from the previous month. Estimates suggest that re-openings are likely to boost sales activity in June.
4. Canada’s property markets continue to show scars from the pandemic – almost all property types including multifamily have slower than inflation rent growth and higher vacancy than a year ago. The big exception is industrial with continued low vacancy and accelerating rent growth.
Canadian Real GDP Growth
https://players.brightcove.net/968289166001/default_default/index.html?videoId=6252059768001
Canada MultiFamily Update
https://players.brightcove.net/968289166001/IlfhnDCdj_default/index.html?videoId=6266382125001
© CoStar Realty Information, Inc. 2021