In response to the COVID-19 pandemic, SIOR has developed a Snapshot Sentiment Survey to assess the impact of the virus on SIOR members' current transactions as well as their level of confidence in local markets six months from now. So far, three of these assessments have been completed, reflecting April 2020, May 2020, and June 2020. An overview of the results can be found below, with the full report available on the SIOR Thought Leadership page.
For June 2020, survey respondents shared the following:
Most notably, industrial specialists are reporting 41% of transactions are proceeding on time, compared to 31.1% for their office colleagues.
Office specialists also share a lower level of confidence in their local markets within the next six months, compared with their industrial counterparts, 6.24 for office, compared to 6.82 for the industrial side (on a 10-point scale).
Industrial brokers in the Northwest, Southwest, and Global regions shared the highest levels of confidence, while industrial brokers in the Central Region were the least confident, followed by office brokers in Canada, Central, and Global regions.
Looking at differences in local market confidence between independent and large firm/network brokers, members in the Global region showed the greatest disparity, with an 8.5 measure of confidence by those within large firms and networks, compared to just 5.6 for their independent colleagues.
In comparison to the May 2020 results:
- Overall, market confidence is up again, from 6.22 to 6.61 (on a 10-point scale).
- Regionally, the Central region is experience some of the lowest market confidence, particularly for industrial brokers, falling 6.1 to 5.21 from May to June. Members in the Global region reported the greatest shifts up and down, with industrial confidence increasing 6.3 to 7.3 and office confidence dropping 6.8 to 5.9. The Northeast saw the greatest increase for the office sector, jumping from 5.5 to 6.6.
- There were significant changes in the overall status of current transactions. On-schedule transactions jumped from 31% to 37%, with corresponding dips across the other categories as transactions get back on track. The greatest gains were on the industrial side, jumping 31.1% to over 41% moving ahead on schedule, while there was little change for office brokers, showing a stagnant 30.5% on time compared to 31% in May.
To download the full report, visit the SIOR Thought Leadership page