London’s downtown office market is showing signs of life, with vacancy rates starting to drop, according to a just-released analysis by the commercial realty group CBRE.

In the third quarter of this year, 30.6 per cent of downtown offices were vacant, compared to 32 per cent in the first quarter – marking the second consecutive quarter that rates dropped, with the second quarter coming in at 31.4 per cent.

“These are unprecedented times. The coming quarters will reveal more about the depth and breadth of the office recovery and we’ll know for sure whether it’s a consolidation of economic activity in core sectors . . . or a rising tide that benefits multiple sectors and cities,” CBRE Canada chairperson Paul Morassutti said in a statement.

In London, the suburban office rate is going in t

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