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Strong Growth Expected for Commercial Real Estate Sector in 2015

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BCREA <bcrea@bcrea.bc.ca>

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For the complete news release, including detailed statistics, click: here.

For immediate release

Strong Growth Expected for Commercial Real Estate Sector in 2015

Vancouver, BC – March 5, 2015.  The BCREA Commercial Leading Indicator (CLI) rose 0.8 index points to 119.8, the fourth consecutive quarterly increase. The continued advance in the CLI trend points to optimism surrounding the economic environment underlying the commercial real estate market.

“Rising consumer confidence combined with a lower value of the loonie and a strengthening US economy helped to push the economic activity component of the CLI higher in the fourth quarter,” said BCREA Economist Brendon Ogmundson. “A stronger provincial economy in 2015 will support increased commercial real estate activity this year.”

The rising trend in the CLI generally points to growth in investment, leasing and other commercial real estate activity two to four quarters ahead. Therefore, the positive increase in the trend component of the CLI for the fourth quarter of 2014 signals positive growth for much of 2015.

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To view the full BCREA Commercial Leading Indicator index, click here.

For more information, please contact:

Brendon Ogmundson Damian Stathonikos
Economist Director of Communications and Public Affairs
Direct: 604.742.2796 Direct: 604.742.2793
Mobile: 604.505.6793 Mobile: 778.990.1320

The British Columbia Real Estate Association (BCREA) is the professional association for more than 18,500 REALTORS® in BC, focusing on provincial issues that impact real estate. Working with the province’s 11 real estate boards, BCREA provides continuing professional education, advocacy, economic research and standard forms to help REALTORS® provide value for their clients.

To demonstrate the profession's commitment to improving Quality of Life in BC communities, BCREA supports policies that help ensure economic vitality, provide housing opportunities, preserve the environment, protect property owners and build better communities with good schools and safe neighbourhoods.

For detailed statistical information, contact your local real estate board. MLS® is a cooperative marketing system used only by Canada's real estate boards to ensure maximum exposure of properties listed for sale.

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