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Commercial sector steady as a rock: survey

The latest Canadian Real Estate Sentiment Survey suggests that overall, Canada’s commercial real estate leaders remain positive about the health of the sector, although see growth tapering off as the year progresses.

“What’s interesting about the survey results is that they show how confident Canada’s commercial real estate leaders remain about market conditions in the face of continued global economic uncertainty,” said Paul Morse, CEO, REALpac, which produces the survey with FPL Advisory Group. “Even though some executives expect a slowing or pause in activity, their outlook remains positive, and improving equity availability is another vote of confidence for future growth.”

Billed as Canada’s most comprehensive measure of senior executive confidence in the domestic commercial sector, the survey’s second quarter index reading came in at 63 out of a possible score of 100, slightly up from 61 last quarter, but down from 71 a year ago.

The gap between what respondents see as the current conditions, and what they predict for the future, has narrowed with the current index reading at 66, up from 64, and the future index up to 61 from 58. That’s nonetheless down from the 69 logged last year.

Even though many of the surveyed executives expressed concern about how much room is left for improvement, the majority do not expect drastic change in the near-term.

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