Calgary's downtown vacancy sees first quarter increase

Office vacancy in Calgary's downtown is up compared to last year.

A report from Colliers said vacancy in the downtown was at 8.13 per cent in the first quarter of this year, an increase over the 4.35 per cent recorded in the first quarter of last year. Office vacancy in the suburbs decreased the first three months of this year hitting 9.8 per cent compared to 10.12 in the first quarter of 2013.

Canada's economy is forecasted to increase from two to 2.3 per cent this year compared to last. The report attributed TD Economics saying the economic increase is due to steady employment growth, low interest rates and a positive outlook for Canadian exports.

See the report in full here.