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Weekly Morguard Research Newsletter
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Research Reports

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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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.

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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.

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