"Over the last two months we have seen strong year-over-year growth in the amount of space leased through the TorontoMLS system. This growth has been driven by the industrial sector and suggests a strong result for the third quarter. The improvement in leasing activity seems to follow the view that overall economic growth in Canada is expected to improve in the second half of 2013 and even more so in 2014," said Commercial Division chair Cynthia Lai.
Combined sales of industrial, commercial/retail
and office properties amounted to 48 in August 2013 – down from 65 transactions
reported during the same period in 2012. Broken down by market segment, the
number of commercial/retail transactions was the same as reported in 2012,
whereas the number of industrial and office transactions was down.
Average selling prices, on a per square foot
basis for transactions where pricing was disclosed, were up for industrial and
commercial/retail transactions and down for office transactions. Year-over-year
changes in average selling prices were strongly influenced by changes in the mix
of properties sold this year versus last.
"The
mix of industrial, commercial/retail and office transactions can change from one
year to the next, on the basis of type, use and geography. These changes can
result in fluctuations in the average selling price, especially when considering
transactions on a monthly basis," said Ms. Lai.
For
the full report visit:
http://communications3.torontomls.net/newstand/news/2013/mn1309/pdf/nr_comm_watch_0813.pdf