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Comment:
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Demand for office space in New Brunswick’s three cities remained fairly stable, with Fredericton seeing a slight decrease in their overall vacancy rates. The Capital City’s office vacancy rate finished December 2024 at 13.14%; this was a decrease of 4.49 pp from 2023’s figure of 17.63%. Moncton finished December 2024 at an overall rate of 14.68%; this was 0.37 pp higher than 2023’s rate of 14.31%. Saint John had the highest office vacancy rate amongst the three cities, clocking in at 25.34%; this was 0.53 pp higher than 2023’s rate of 24.81%.
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