Tuesday , 30 May 2023
Home Business Generally positive outlooks for Hamilton Jobs, commercial-industrial real estate

Generally positive outlooks for Hamilton Jobs, commercial-industrial real estate

Inflation and Interest rates concern business community

Hamilton Economic Development has issued a snapshot of economic trends in Hamilton and it looks like another big year for building permits. The department issued over 1,300 building permits Jan-March 2023 with a value of almost n$389 Million—the second highest first-quarter building permit total in the last five years, which includes the non-pandemic year 2019.

Unemployment showed a small uptick in March from 5.2 percent to 5.5 percent, but was the same percentage as March 2022. There are now approximately 411,000 people holding jobs in Hamilton.

In Commercial and industrial real estate Hamilton continues to offer an advantage over neighbouring communities. The average selling price for industrial real estate in Hamilton at $209 sf. is well below Burlington’s $322 and Oakville’s $411.Similarly Industrial real estate rents in Hamilton for $12-$16 sf. are both tracking below Oakville and Burlington. Office real estate in Hamilton at just under$15 sf. is below that of both Halton cities.

According to a survey of Hamilton business operators, inflation and high interest rates continue to be a concern to businesses who expect challenges on both fronts in the current quarter.

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