Ellington Index

The Ellington index is designed to take into consideration a variety of factors which influence the market  We do this on a quarterly basis. The higher the individual factor is ranked means it influences the overall market in a positive way for tenants…or in other words contributes to a “Tenant’s Market”.  Conversely the lower the rank the more the factor contributes to it being a “Landlord’s Market”


Current Availability Rate (GTA) 10.4%      5
Current Availability Rate (DT)  6.4%      4
Change in Availability Rate since last Q (DT) 0.7%      4
Sublet Space Availability as % of Direct Space (DT) 0.8%      4
New Supply (DT) 9 buildings under construction      4
Space Leased since last Quarter (DT) 184,000 sf      4
Tenant Confidence (DT) Medium      5
Landlord Confidence (DT) Strong      4
Forcasted Rental Rates – next 3 months (DT) Slight increase      5
Tenant Deal Velocity in Market (DT) Low-Medium      5
Total                                                                                    44

An Index of 44 indicates that we are in a Landlord’s market.

GTA = Greater Toronto Area  |  DT = Downtown