Q4 2018 Metro Vancouver Industrial Report
The Metro Vancouver industrial vacancy rate stayed at 1.46% for the end of 2018, showing no change compared to Q3 2018. This is still a drop of two basis points compared to Q4 2017. Despite vacancy rate remaining at 1.46% the availability rate dropped 0.15% and ended 2018 at 4.91%. Absorption nearly matched new supply, 907,000 and 921,000 square feet respectfully, which was one of the factors that resulted in the vacancy rate staying at 1.46%.
Despite the vacancy rate staying the same this quarter, the Metro Vancouver rental rate for industrial properties continues to rise, reaching an average of $12.56 per square foot; this is an increase of over $1.00 compared to the end of 2017.
Sales are up this quarter, increasing to over $385 million as many large sales completed at the end of the year. This set to be the most active quarter for sales in 2018 as more info comes in. Price per square foot continues to rise, reaching an average of over $370 per square foot, an increase of $80 compared to Q4 2017.
Click below to read the full report including details on key market areas.