The BCREA Commercial Leading Indicator was up 1.7 points in the second quarter of 2016 to reach a new high of 122.2 which is 2.2 per cent higher than the same quarter of 2015.
"The recent uptrend in the CLI is reflective of a strong underlying economy and accelerated employment growth," said BCREA Economist Brendon Ogmundson. "The CLI was further boosted by a rebound in financial markets that were previously dragging the index lower."
The index’s underlying trend calls for moderate growth ahead for investment, leasing and other commercial real estate activity for the next two to four quarters.
More market update:
The strength of the economy in British Columbia has led to further growth in the province’s commercial real estate sector.