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Market Updates

Real Strategy Advisors is pleased to provide you with free quarterly market updates to help keep you in the know. Download our printer-friendly market report PDFs below!

Ottawa Commercial Real Estate Market Overview - Q2 2020

Real Strategy Market Outlook: Q2 2020

The global economic outlook has been severely impacted by the spread of COVID-19 and amplified by the sharp decline in oil prices. Central banks and governments have responded by lowering interest rates and offering stimulus measures. Even with lower interest rates providing some cushion for highly indebted households, the impact of the virus will keep consumers cautious and on-guard.

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Ottawa Commercial Real Estate Market Overview - Q1 2020

Real Strategy Market Outlook: Q1 2020

In the first quarter of 2020, all economies were profoundly affected due to the advent of COVID-19. The Ottawa-Gatineau economy however, is set to see employment growth around 2% as the region’s public service, high tech, construction, and retail/distribution sectors expand. Building off a 2019 GDP of 2.1% and employment growth of 1.3%, Real Strategy Advisors expects the Ottawa-Gatineau market to be less affected by the larger economic uncertainty abound.

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Ottawa Commercial Real Estate Market Overview - Q4 2019

Real Strategy Market Outlook: Q4 2019

The final quarter of 2019 in Ottawa’s office market saw a slight rise in overall office availability, as over 180K SF of primarily surplus government space came back into the marketplace. In the 12 months since Q4 2018, greater Ottawa’s office availability fell 0.6% to 8.9%. If there was a theme for 2019, it was marked by high demand by our local high tech sector, especially in Kanata. Looking forward to 2020, Real Strategy expects demand for quality office space to be very strong.

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Ottawa Commercial Real Estate Market Overview - Q3 2019

 

Real Strategy Market Outlook: Q3 2019

The office market in the National Capital Region continued to show strong demand, especially from the Federal Government and the local technology sector. Office users, both public and private, are demonstrating a strong preference for new or renovated space. This trend has lead to falling availability across the city as new space is gobbled up and the abandoned older office product is subsequently renovated. Overall office availability stood at 8.3% at the end of the third quarter, compared to 8.5% at the end of the second quarter. As we await the impact of a minority Liberal government on our local economy, Real Strategy is predicting another two-quarters of strong demand until such time that a new Federal budget is released.

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Ottawa Commercial Real Estate Market Overview - Q2 2019

Real Strategy Market Outlook: Q2 2019

Ottawa’s office market continued to experience significant demand for office space across all sectors. Overall office availability fell to 8.5% from 8.9% in the previous quarter. This represents six straight quarters of falling availability, a clear sign that the market is moving to favour landlords over tenants. Real Strategy is predicting availability to continue falling for the balance of the year until such time as the results of the Federal election are known.

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Ottawa Commercial Real Estate Market Overview - Q1 2019

Real Strategy Market Outlook: Q1 2019

Unprecedented leasing activity concentrated in downtown Ottawa and Kanata started greater Ottawa’s 2019 office market off with a bang! Greater Ottawa’s availability rate fell to 8.9% at the end of Q1 2019 compared to 11.3% from a similar time last year. This change was driven by the explosive growth of the cannabis sector following legalization as well as an exceptionally strong technology sector lead by companies such as Ford and Mitel. Additionally, the federal public service continued to increase its footprint in new modern space. Real Strategy is predicting that demand for office space may slow as we move closer to the Federal Election, for it is unclear whether public policies supporting growth in the NCR will continue should there be a significant change in political direction.

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Ottawa Commercial Real Estate Market Overview - Q4 2018

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Ottawa Commercial Real Estate Market Overview - Q3 2018

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Ottawa Commercial Real Estate Market Overview - Q2 2018

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Ottawa Commercial Real Estate Market Overview - Q1 2018

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Ottawa Commercial Real Estate Market Overview - Q4 2017

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