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The GTA office market has continued a steady progression
of declining availability, upward
movement of asking rents, and healthy absorption in Q4 2007.
Asking rents on currently available space have increased by 10% over Q4
2006. This increase
was driven solely by the strength of the central markets, as the suburban
market rents have
remained stable relative to 2006. Availability for the region decreased
by 1.5% during 2007,
dropping from 9.8% to 8.3%. Increased levels of office employment, driven
in part by the public
sector, have resulted in the growth of occupied space, or absorption of
4.2 million sq. ft.
Office inventory has experienced steady growth in the last 12 months expanding
by
approximately 2.2 million square feet, comprised of 30 new buildings, of
which 60% were in the
Western suburbs.
Contact Ian MacCulloch at 416.643.3708 for more information.
  Toronto_Office_Q407.pdf
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