TORONTO, Canada—Global real estate firm Avison Young has released its 2016 CRE forecasts for Canada, the US and the UK. While conditions continue to stabilize since the great recession, there is still uncertainty in all three markets, the firm says. This article will focus on AY's outlook for Canada.
"We believe that 2016 will be a very choppy, but ultimately stable, year, with interest rates still top of mind," says Mark Rose, chair and CEO of Avison Young. "In the U.S., interest rate increases mark a return to monetary normalization. The US interest rate increase could actually have a positive impact on the markets. Canada has lowered its interest rates and employed a low-dollar approach to spur investment and buffer oil and other commodity weakness, while the UK continues with a low-interest-rate policy."
The annual report covers the office, retail, industrial and investment markets in 55 Canadian, US and UK metropolitan regions.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
