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Weekly Morguard Research Newsletter
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2019 Annual Economic Outlook​​

In the 2019 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. Over the last 18 months, investors placed capital into the market with confidence, resulting in record-high transaction volume. Commercial property investment shows no signs of slowing as investors continue to show interest in core properties with strong tenant profiles across Canada’s major markets – especially as density and repositioning continue to shape the real estate landscape. 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 our experience in property management, Canadian REITs and property investment.

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Research Reports

2018 Q3 Update - Canadian Economic Outlook and Market Fundamentals Report 

Morguard’s third quarter Economic Outlook and Market Fundamentals Research report finds that the rush for industrial real estate continues as investment pace reaches a record-high. Sales volume for the industrial real estate market already stands at a record-high dating back 20 years with half a year still to go. With quality space at a premium and a solid fundamental outlook for the sector, this strong activity is expected to continue to finish the year. The recently announce USMCA trade agreement has eased some of the uncertainty for investors, while Canada’s economy is expected to grow a fairly solid rate in the near-term, a good sign for Canadian commercial real estate. Overall, quarter-over-quarter transaction volume increased across all commercial real estate asset classes, reflecting investor confidence in the market.

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2018 Q2 Update - Canadian Economic Outlook and Market Fundamentals Report 

The overall pace of Canadian commercial real estate transactions has slowed, but the dip in volume is very much a function of low product availability rather than a drop in demand, according to Morguard’s second quarter Economic Outlook and Market Fundamentals Research report. Multi-suite residential properties bucked the trend, with transaction volumes growing by 17.5% over last year. A shortfall of functional space has also been characteristic of the strong leasing activity in the office and industrial sectors, with cycle-low vacancy rates occurring in most regions. On the economic front, the Bank of Canada’s July interest rate increase was widely anticipated by investors and indicates the Bank expects economic activity to pick up through the balance of the year.

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2018 Q1 Update - Canadian Economic Outlook and Market Fundamentals Report 

Morguard’s first quarter Economic Outlook and Market Fundamentals Research report finds that Canadian commercial real estate activity was off to a strong start in 2018 as demand continues to outstrip supply. The appetite for commercial real estate investment remains at peak highs, with the flow of capital only being limited by the supply of assets available. Unbalanced demand was noted across all asset classes, with office again leading the way. Despite heightened risk due to increased vacancies, retail property values also remained fairly stable. Lingering uncertainty over NAFTA negotiations led to a global slowdown in economic activity in Q1, strengthening the belief that the Bank of Canada would continue to take a cautious approach to future interest rate hikes.

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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.

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