The raw data for our 3Q22 market reports have been compiled, and the findings are fascinating.
The four main categories, downtown and suburban office, retail and industrial sectors, have seen positive absorption since the last quarter.
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Oil and gas prices will continue to drive economic growth in Saskatchewan and Alberta through 2024, according to the Conference Board. Saskatchewan will also benefit from higher prices for commodities such as wheat and potash.
Saskatchewan is reported to lead our country in 2022 with a growth of 7.6 per cent.
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This Saskatoon office vacancy graph illustrates it well.
We see the relative similarity between downtown and suburban office vacancy trends for the 12 years between 2008 and 2020; then, suddenly, in 2020, the divide begins to swell.
We currently have over a 10 per cent vacancy spread between the two submarkets.
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