BCREA’s CLI was up 2 points to 135.3, a rise of 1.7% from Q2 and up 7.2% year-over-year. The indicator’s trend continues to show growth as the BC economy and employment increases.
"A booming BC economy continues to drive the CLI higher," says BCREA Economist Brendon Ogmundson. "While we expect that the almost unprecedented cycle of above-trend growth in the BC economy will end next year, the overall economic environment remains very supportive."
The association’s figures suggest continued growth for the BC commercial real estate sector over the next 2 to 4 quarters.
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BC’s commercial real estate sector grew for a ninth consecutive quarter in Q3 2017 according to the commercial leading indicator from the province’s real estate association.