Northmark Advisory · Research

Macro &
Market Research

Proprietary research connecting macroeconomic conditions to Canadian CRE market dynamics. Each report is built from primary data sources — Statistics Canada, CMHC, Bank of Canada — and analysed through the same economics-first methodology applied to every Northmark mandate.

Sector Coverage
01
Live — Feb 2026
Canada Multifamily
Rental Analytics
A structural analysis of rental market conditions across Canada's six largest CMAs. Separates base-year effects and supply-cycle dynamics from underlying demand fundamentals. Eight views covering asking rents, trend deviation, supply vs. rents, vacancy, and pipeline.
Asking rents — 6 CMAs, Q1 2019 – Q3 2025
OLS trend deviation & cyclical analysis
Supply vs. rents — completions & vacancy
Forward pipeline through 2026–2027
View Analysis →
02
Available to clients on request
Canada Office
Market Analysis
Structural vacancy, sublease exposure, and absorption trends across downtown and suburban office markets. Net effective rent analysis, return-to-office dynamics, and conversion pipeline tracking for institutional owners and lenders.
Downtown & suburban vacancy by CMA
Sublease supply & absorption rates
Net effective rent & concession trends
Conversion & demolition pipeline
03
Available to clients on request
Canada Industrial
& Logistics Analytics
Availability rates, net asking rents, and leasing velocity across Canada's major industrial corridors. E-commerce demand drivers, cold storage growth, and cap rate compression analysis for the asset class that has most directly benefited from structural tailwinds.
Availability & net rent by submarket
Leasing velocity & deal size trends
Speculative construction pipeline
Cap rate spread & investment analysis
04
Available to clients on request
Canada Retail
Market Research
Strip centre, power centre, and necessity-based retail performance across Canadian markets. Tenant credit quality, occupancy cost ratios, and the bifurcation between experiential and commodity retail — through a macro lens that accounts for consumer credit conditions and discretionary spend.
Occupancy & rent by format & CMA
Tenant mix & credit quality analysis
Consumer spending & credit conditions
Cap rate & investment volume trends
Research Methodology
"Primary data. Independent analysis.
No house view to protect."

Every Northmark research report is built directly from Statistics Canada, CMHC, and Bank of Canada data — not aggregated third-party sources. Series are constructed from original tables, cross-referenced against published narratives, and flagged explicitly where estimates or interpolation are required.

The goal is not to confirm a prevailing market narrative. It is to isolate what the data actually shows — including where it contradicts consensus — and to provide the analytical scaffolding for capital decisions that hold up under scrutiny.