Metro Vancouver’s vacancy rate decreased 170 bps year over year (y-o-y) while supply more than tripled from 2017.
Over 83% of the 900,000 sq. ft. of new supply that was delivered in Metro Vancouver in 2018 has been leased.
Downtown remains a tight market as the vacancy rate dipped 120 bps y-o-y to 3.8% with 163,484 sq. ft. of absorption. The lowest vacancy rate on record was 2.3% in Q3 2008, when the total inventory was 10% less than it is today.