New supply outpaces Calgary industrial real estate absorption

CBRE report says the industrial market continues to see strong activity from national and multinational users

New supply outpaces Calgary industrial real estate absorptionDespite positive market fundamentals, the availability of space in Calgary’s industrial real estate market rose in the third quarter of this year due to new supply outpacing active absorption, says a report by CBRE. The third quarter “marked the 11th consecutive quarter of positive net absorption for Calgary’s industrial market,” said the report. “Although slightly…

Calgary office vacancies trending down

Avison Young report says the tech sector should play a key role in Alberta’s future economy

Calgary office vacancies trending downThe overall Calgary office vacancy has been trending down for the last 18 months, according to a new market report by Avison Young. Peak vacancy was recorded in second-quarter 2018 at 23.5 per cent, and is over a full percentage point lower at 22.3 per cent in third-quarter 2019, added the report. “While the vacancy…

Alberta rents among the most affordable in Canada: report

Alberta rents among the most affordable in Canada: reportAlberta cities are among the least expensive when it comes to residential rental property in the country, according to a new report. The average Canadian property was listed for $1,954 per month in September just topping the previous high-water mark for the year of $1,953 in June, according to the October National Rent Report produced…

Calgary suburban office market sees spike in leasing

Vacancy rate decreased by 90 basis points to 20.6 per cent

Calgary suburban office market sees spike in leasingThe suburban office market in Calgary experienced significant positive absorption in the third quarter of 229,745 square feet and the vacancy rate decreased by 90 basis points to 20.6 per cent, says commercial real estate firm CBRE in a report. The report said flight-to-quality continues to be a trend as tenants look for cost savings,…

Calgary region sees largest decline in new home prices

Calgary region sees largest decline in new home pricesIn August, Calgary (-2.2 per cent) and Regina (-2.1 per cent) posted the largest year-over-year declines in new house prices for the third month in a row, says Statistics Canada. “Elevated housing inventory levels continued to affect new house prices in both CMAs. Canada Mortgage and Housing Corporation reported that single-family housing starts declined year…

Calgary, Edmonton home prices continue to slide

Sales activity in Calgary has increased as buyers take advantage of lower prices, according to Royal LePage

Calgary, Edmonton home prices continue to slideThe inventory of homes for sale has tightened as home buyers take advantage of Calgary's affordability. And in Edmonton, home prices are declining as the market correction continues, according to the Royal LePage House Price Survey released on Thursday. The report said the aggregate home price in Calgary decreased 4.3 per cent year over year to…

Calgary downtown office vacancy rate on the rise

Lack of new capital in the oil and gas industry continues to limit growth, says CBRE

Calgary downtown office vacancy rate on the riseLack of new capital in the oil and gas industry continues to limit growth in Calgary’s struggling downtown office market, says commercial real estate firm CBRE. The company’s latest report says the Calgary downtown office market experienced 192,548 square feet of negative net absorption (the change in occupied space) in the third quarter. That follows…

Edmonton, Calgary housing starts jump in September

Edmonton, Calgary housing starts jump in SeptemberSome impressive numbers were released on Tuesday indicating that September was a good month for homebuilders in the Calgary and Edmonton regions. According to statistics from Canada Mortgage and Housing Corp., the Edmonton census metropolitan area saw single-detached housing starts of 403 for the month, up nine per cent year over year. The ‘all other’…

Calgary suburban office space vacancy drops

CBRE report says flight to quality trend driven by access to amenities, transit, parking availability, location and inviting spaces

Calgary suburban office space vacancy dropsCalgary's suburban office market experienced significant positive absorption in the third quarter. The 229,745 square feet absorbed lowered the overall vacancy rate, says a new report by commercial real estate firm CBRE. The vacancy rate decreased to 20.6 from 21.5 per cent. “Flight-to-quality continues to be a dominant theme in the Calgary office leasing market,…

Calgary’s purpose-built rental units gain tenants

Real estate research firm Urban Analytics says the result has been a stabilization of rental rates

Calgary’s purpose-built rental units gain tenantsUnit absorption in Calgary’s newer purpose-built rental market increased in the third quarter of this year, according to a report by real estate research firm Urban Analytics. The report said two new purpose-built rental projects launched during the quarter adding 272 units to the market. “Further, the six projects launched in the second quarter of…
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