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For immediate release
BC Commercial Leading Indicator Surges Higher
Vancouver, BC – September 6, 2016. The BCREA Commercial Leading Indicator (CLI) posted its largest increase since 2009, rising by 3.7 index points in the second quarter of 2017 to 133.1. That increase represents a 2.8 per cent rise over the first quarter and a 6.6 per cent increase from one year ago.
“The sustained rise in the CLI reflects strong growth in sectors of the economy beneficial to commercial real estate activity," says BCREA Economist Brendon Ogmundson. "An uptick in economic activity last quarter further reinforces the already strong trend in the CLI and points to continued growth for commercial real estate."
The underlying CLI trend, which smooths often noisy economic data, continues to push higher due to strong provincial economic and employment growth. That uptrend signals further growth in investment, leasing and other commercial real estate activity over the next two to four quarters.
To view the full BCREA Commercial Leading Indicator index, click here.
For more information, please contact Ben Gauer at 604-581-3838.
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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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