BC Commercial - Strong Growth Ahead

BC Commercial Leading Indicator Points to Strong Growth Ahead

Vancouver, BC – August 28, 2012. 

The BCREA Commercial Leading Indicator (CLI) continued to trend higher in the second quarter of 2012, rising 0.8 points to 112.6 from a revised level of 111.8 in the first quarter.  On a year-over-year basis, the CLI is now 3.7 per cent above its level in the second quarter of 2011.


                              


"The trend in the CLI continues to signal strong growth in the BC commercial real estate market,” said Brendon Ogmundson, BCREA Economist.

“The CLI’s trend has continued with a steep rise from early 2011, reflecting a pick-up in employment numbers as well as calmer financial market conditions."This quarter’s increase in the CLI was driven entirely by the employment and financial components of the index while some economic activity measure, such as retail sales, have trended lower.

“As global economic fears quiet down and the BC economy continues to produce stronger job growth, we expect to see improvements in economic activity,” added Ogmundson.

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


For more information, please contact:

Brendon Ogmundson
Economist
Direct: 604.742.2796
Mobile: 604.505.6793



BCREA represents 11 member real estate boards and their approximately 18,000 REALTORS® on all provincial issues, providing an extensive communications network, standard forms, economic research and analysis, government relations, applied practice courses and continuing professional education (cpe).

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.