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Media Centre

Date Entered: 01/10/2019
Subject: Balanced Office Mkt? Hfx Suburbs Say Yes
Attachment: 105.pdf (Original file name: 2018 Dec Halifax Press Release.pdf)

The office vacancy rate in Halifax showed year over year improvement, falling to 13.86% overall from 14.99% a year ago. The drop came from falling vacancy across the board in suburban areas.  The Halifax market is broken down into eight submarkets: the six submarkets located outside Halifax’s downtown core and periphery each enjoyed vacancy rate declines, whereas vacancy increased in each of Halifax’s Central Business District (CBD) and Downtown Peripheral submarkets.  The best news comes from the Halifax suburban submarket, though, where supply and demand are approaching a balanced market.