Market uncertainty seems to be on everyone's mind these days as investors wait to see how interest rate increases will impact pricing. The largest story in Edmonton is the nominal changes in values we've seen throughout 2022. Most market participants we talk to expect the full impact of these changes to take between 12 and 24 months, which suggests we have some time before the full impact makes its way through the market.
Vendors within the Industrial and Multi-Family markets are still anticipating top dollar for their properties, and having Purchasers build in the cost of financing through expectations of increasing future rents.
Retail markets appear stable, as increased retail spending has buoyed the strength of tenants throughout 2022.
Office space has been the first asset class to move cap rates higher across most transactions.