We’ve got a full house of guests in this episode: Ray Wong (Vice President of Data Operations and Data Solutions at Altus), Wendy Waters (Vice President of Research Services and Strategy at GWL Realty Advisors), and Phil Stone (Principal and Head of Canadian Research at BentallGreenOak).
These three have been invited onto the show today to discuss 2022 real estate trends. They’ll break down four different asset classes and predict how these will perform in 2022, along with how external factors will impact them.
Topics covered include:
- An introduction to high-level trends in multi-residential units by Wendy.
- Vacancy rates, migration throughout Canada, and rental rates.
- Indicators that the purpose-built rental sector will have a strong year.
- Why Phil is surprised that some metrics are already back to pre-COVID levels.
- Looking at the underlying fundamentals of the office market instead of vacancy rates.
- The equity and inclusion piece of returning to work.
- When Ray thinks we’ll see what the long-term effects of work from home are.
- Why industrial remains to be hot.
- The numbers that show industrial demand is higher than supply.
- Subsectors of industrial that are particularly undersupplied.
- The continuation of residential and multi-family purchases by private buyers.
- Reasons why institutions will inject a lot of capital into real estate in 2022.
- Which asset class will be the best hedge against inflation.
- Global supply chain issues that might impact pricing.
More about our guests…
Phil Stone is a Principal and Head of Canadian Research at BentallGreenOak. In this role, he synthesizes macroeconomic, demographic, capital market and space market trends to deliver actionable insights. In collaboration with the investment management team, he helps set client strategies and implement tactics to target and invest.
Phil has over 13 years of experience within the commercial real estate industry in various roles within investment management. He has experience in research, valuation, asset management, and portfolio management, having spent his career with several prominent commercial real estate firms in the private, public and institutional space. Combined, these experiences offer a breadth and depth uncommon in the industry.
Phil holds an Honours B.Comm from McMaster University and a UBC/AIC Post-Graduate Certificate in Real Property Valuation (PGCV) from the University of British Columbia. He is a Counselor of Real Estate (CRE), a member of the National Association of Industrial and Office Properties (NAIOP), an associate member of the Urban Land Institute (ULI), and sits on the REALPAC Research Advisory Committee and the REALPAC Canada Property Index Committee.
Wendy Waters has nearly 20 years of experience in real estate research, 15 of them with GWL Realty Advisors. At GWLRA she leads the research department, which provides strategic analysis to support and grow the portfolios of real estate under management including office, industrial, retail and multi-residential assets. The research team focuses on the economic, demographic and social drivers of real estate performance as well as capital flow and market trends that shape returns. A key responsibility is providing proprietary research and analysis to support the development of new rental buildings (GWLRA has over 5000 units in the development pipeline) as well as the asset strategies for 14,000 units of multi-residential under management across Canada. Wendy regularly publishes research at gwlra.com/research and shares insights on panels across Canada. She is active with the Urban Land Institute (ULI).
Ray Wong is the Vice President of Data Operations for Altus Group’s Data Solutions team and has over 30 years or market research experience. Overseeing 60+ researchers across Canada, his primary responsibility is to ensure that the commercial and residential data collection is all encompassing, reliable and accurate and that it adheres to the Altus Group data governance guidelines. Ray works closely with both internal and external clients to ensure the information meets their needs and that it is both accurate and timely. He also regularly presents on key market trends to clients and at industry events. Ray is regularly asked to comment on the real estate market in various print, radio and online news publications.
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