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Research Reports

2018 Canadian Economic Outlook and Market Fundamentals Report 

In the 2018 Canadian Economic Outlook & Market Fundamentals report, Morguard predicts another year of robust commercial real estate investment activity in Canada, with healthy demand for quality assets across the country. Investors remain enthusiastic about the Canadian commercial real estate market after a record volume of transactions in 2017. There is a high supply of capital ready to be invested, and Canadian commercial real estate is a proven performer. Morguard is predicting another very busy and competitive market environment for commercial real estate across the country in the coming year. Morguard's report covers commercial, industrial, multi-suite residential and retail markets. It is published yearly, with quarterly updates to the report. Morguard develops these reports based on experience in property management, Canadian REIT's as well as property investment.



2017 Q4 Update - Canadian Economic Outlook and Market Fundamentals Report 

Morguard’s Q4 update finds that Canadian commercial real estate extended its run at the top of the business cycle through to the end of 2017, with few signs of abatement. Anticipated sale completions were expected to push annual transaction volume to a new record high by eclipsing the $34.7 billion peak reached last year. In the office leasing market, a moderately positive fourth quarter marked the end of a largely successful year. Investors showed little hesitance in acquiring retail investment properties despite ongoing sector headwinds, while Canada’s industrial property sector is poised for a continuation of its recent run of strong investment performance. On the economic front, a slowdown in the housing market, less robust labour market progress and the potential end to NAFTA are expected to weigh on the performance of the equity market.



2017 Q3 Update - Canadian Economic Outlook and Market Fundamentals Report 

Canadian commercial real estate activity continued at a robust pace in the third quarter of 2017 with signs now pointing to a record year for investment, according to Morguard’s third quarter Economic Outlook and Market Fundamentals Research report. Canada’s office sector led the way with a second consecutive quarter of over $1 billion in sales. Multi-suite residential and industrial sales also remained brisk. While downtown Toronto and Vancouver properties continue to garner the most intense bidding, investors are finding value in markets outside the downtown cores. In the retail market, recent announcements will put a damper on near-term fundamentals but Morguard believes the retail industry, particularly shopping centres that are dominant in their community, will continue to offer long-term opportunity for Canadian investors.


2017 Q2 Update - Canadian Economic Outlook and Market Fundamentals Report 

Morguard’s second quarter Economic Outlook and Market Fundamentals Research report finds that demand for Canadian commercial investment property continues to stay strong and healthy even as the strengthening global economy drives a rise in interest rates and less accommodative monetary policy. After a second consecutive quarter of stronger than expected economic output, projected growth for 2017 has now surpassed 2016 levels with signs pointing to an early winding down of global monetary stimulus. Despite a perceived eagerness to raise interest rates, particularly in the United States, low inflation pressure should continue to act as a buffer against rapid monetary policy change in the near term. Nationwide office and industrial leasing continued to demonstrate robust occupancy rates despite weakness in Alberta. In the Canadian housing market, recent policy changes began to produce the desired cooling effect but there are indications that the respite might not last long.