Commercial market heats up in the Fraser Valley

Commercial property is in demand in the Fraser Valley but new supply is due to help ease the current shortage.

A new report by Avison Young shows that there were 87 deals of a combined $165 million in the first half of 2015, compared to 156 totalling $193.3 million in the whole of 2014.

Demand is particularly strong in Langley and Surrey, and some companies are being forced to seek bases elsewhere due to the lack of supply in the area.

According to the report, the next 12 months will add 1.5 million square feet of new space to the market.

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