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Colliers Spring 2012 Retail Report Canada - Reurbanist

Colliers Spring 2012 Retail Report Canada

Written by  //  May 9, 2012  //  Posts  //  Comments Off on Colliers Spring 2012 Retail Report Canada

Colliers Canadian Retail Report, Spring 2012, is now available – just in time for the upcoming ICSC RECon Las Vegas.

Retail Sales Increase 1% YOY
After subtracting automobile and gas, retail sales across Canada increased 1% between 2010 and 2011. Saskatchewan, Alberta, New Brunswick, and Newfoundland led the way, while Ontario and Quebec pulled down the average. Colliers provides a comparison of their 2011 sales forecasts with the actual recorded sales, highlighting some surprise winners like Manitoba. Canada-wide, Colliers 2011 forecasts were only 0.04% off the actual reported figures – not bad! The the full year 2012 and December 2012 forecasts will be available in the Fall 2012 report.

US Retailers Looking to Canada
The most pressing topic in the Canadian retail industry currently is the influx of American retailers and developers. The Colliers report provides the following chart that shows the incredible rise in Canadian mall sales performance since 1997.  As much as I would like to be smug about how great our retail is performing, some of this increase is attributable to the appreciation of the Canadian dollar by nearly 35%. Retailers have been very resistant to lowering prices in relation to the rise of the Canadian dollar and have subsequently benefited from increasing margins.

Retail Rental & Vacancy Rates by Major Market
At the end of the report is a table that compares rental rates and vacancy levels by centre type in major Canadian cities. Prior to this table, no retail report I am aware of has been able to systematically compare all Canadian cities at this level of detail. Instead, reports were typically produced on a city by city basis by individual commercial brokerages, making pulling together Canada-wide data an arduous process.

 

Canada Retail Real Estate Report Spring 2012

If you have any more questions regarding this report, or the types of market analysis services Colliers provides, please feel free to contact David Bell or James Smerdon.

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