• Quarter-over-quarter, the overall market vacancy rate increased 20 basis points (bps) from 16.7% in Q1 2018 to 16.9% in Q2 2018.

• Average asking net rents were relatively flat quarter-over-quarter, falling $0.01 per sq. ft. down to $14.43 per sq. ft. in Q2 2018.

• CBD Class A saw a 70 bps quarter-over-quarter increase in the vacancy rate to 22.1% in Q2 2018.

• Absorption totaled negative 25,937 sq. ft. on the quarter, year-to-date absorption now totals negative 111,134 sq. ft.

• New supply in recent quarters have put upward pressure on Class A vacancies in both the CBD and suburban submarkets.

• The Halifax office market has 170,550 sq. ft. of space under construction with 120,000 sq. ft. in CBD and 50,550 sq. ft. in the suburban market.