•The GTA’s average net asking lease rate increased nominally to an all-time high of $9.71 per sq. ft., marking a record 13 consecutive quarters of growth.

•The GTA’s availability rate increased 40 bps quarter-over-quarter to 2.0%. Similarly, the vacancy rate increased by 40 bps quarter-over-quarter to 1.0%, the highest since Q3 2018.

•Despite construction delays for non-essential projects, the second quarter saw a record amount of new supply delivered in 2020, totaling 4.1 million sq. ft.