According to a recent report from Colliers, the GTA industrial market reported a 2.7% availability rate in the second quarter of 2017. A total of 2,534,996 square feet of new supply became available in this quarter, all in the GTA West. The average sales price per square foot in GTA was $169, which was a 6% increase from the last quarter. The GTA Central market’s availability rate remained at 1.7%.
The net rent increased from $5.16 to $5.91, however, it experienced a negative absorption this quarter. The GTA East market had an availability rate of 2.5%, the greatest decrease in availability from the last quarter. This area saw an increase of $0.54 in their average net rent. Ajax was the only sub-market to experience a positive absorption. The GTA North reported an availability rate of 2.3%. This area experienced a negative absorption of 263,818 square feet. The average net rent asking price went up to $6.55 which is an increase of 8.8%. The GTA West market had a positive net absorption of 369,518 square feet. The availability rate increased from 28.8% to 32.9%. From these survey results, it is visible how rapidly the city’s dynamics are changing in different parts of the GTA.
To read the full article, please visit: toronto-industrial-market-report-q2-2017
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