Market Surveys
Economic Intelligence Unit
Our Economic Intelligence Unit provides a practical research service, designed to meet the needs of the real estate practitioner, and help them solve their real estate problems and explore opportunities. It marries market research with real estate knowledge so that we can provide property owners with practical solutions to the challenges they face in today's rapidly changing world.
The Winds of Change
We are experiencing an information revolution; thanks to constant advances in technology the world now has access to an overwhelming volume of information. To stay on top of their business, managers have to know when change is occurring and to act on it quickly. Intelligent decisions must be informed, based on factual research not just intuition. Our Economic Intelligence Unit is an information based research and analysis service which is timely, focussed and complete.
Industry Leaders
We have provided real estate counselling and valuation advice throughout Atlantic Canada since 1976. We understand the local real estate markets of our region. Over that time, we have built our IT platform Compuval™, into a family of intelligent databases capable of communicating with each other and analysing data "on the fly". Compuval™ is armed with Geographic Information System (GIS) capability so that we can view, and analyse, the data spatially. Compuval™ can exchange information with external databases across the Internet. We have also developed a network of superb contacts within the real estate industry. Our location in Halifax gives us access to six universities for recruitment, education, post graduate training and resources.
Scope of Work
We undertake research assignments on all types of real estate:
- Apartments
- Condominiums
- Housing Projects
- Retail Centres
- Office Buildings
- Industrial Properties
- Hotels, Motels and Restaurants
- Raw Land and Subdivisions
… and produce a wide range of studies:
- Supply and Demand Surveys
- Market Studies
- Highest and Best Use Studies
- Feasibility Analyses
- Sensitivity Analyses
- Economic Impact Studies
- Trade Area Analyses
… for a broad range of clients:
- Property Developers
- Property Managers
- Landlords/Tenants
- Financial Institutions
- Investment Companies and Trusts
- Accountants
- Municipal, Provincial and Federal Governments
Typical Assignments
Research projects often have a common theme. The questions we are frequently required to address during the course of our assignments include:
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- is there a market for all of the units?
- at what price and over what selling period?
- who are the likely buyers and where will they come from?
- how many similar projects are coming on stream?
- are the demographics and psychographics really on my side?
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- how is the market vacancy rate distributed?
- is my sub-market expanding, contracting or stable?
- what impact will the proposed building have on existing rents and vacancy rates?
- how many units should I build?
- what amenities should be included in the proposed project?
- what is the optimum "mix" for the proposed development?
- will renovation and upgrading produce an acceptable return on my costs?
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- is there a better use for an obsolete manufacturing plant?
- is it feasible to renovate for an alternate use?
- what rate of return can I expect from a site redevelopment?
- is there a demonstrated demand for the space?
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- what rent and leasing incentives can I expect in today's market?
- should I commit to short term or long term leases?
- should I lease or build-to-suit?
- is there a demonstrated demand for the space?
- what size space will the market support?
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The Process
Once we have defined through consultations with our client, the scope of the assignment we proceed through a sequence of research, analysis and recommendation.
Each year, Turner Drake provides advice on over $500 million worth of real estate, involving over 1,000 industrial, commercial and investment properties. 95% of our work is undertaken for the private sector. Not surprisingly, we have established Compuval™ databases with depth and breadth containing information on over 150,000 transactions across Atlantic Canada and Ontario. It is the engine of our business. Added to that is an ever-growing network of on-line information systems available through the Internet. They allow us to track the latest events and trends, and stay in tune with local real estate markets.
There is a human side to real estate that demands personal contact with those active in the field and for which computerised databases are no substitute. Our valuation, counselling, property tax, brokerage and Lasercad™ division personnel are in daily contact with owners, managers and developers of real estate and have earned a reputation for professionalism and integrity. We talk the industry language and know the questions to ask.
Planners and development officers are an invaluable interface at government level, providing insight and direction into current and proposed events within the community. Our daily activities bring us into frequent contact with senior staff, with whom we have established excellent working relationships. Municipal amalgamations have introduced a new dimension to this particular field of research.
Raw data is of limited use until it is subjected to meaningful and focussed analysis. Only then can the results be interpreted and applied to a specific problem. We use a variety of analytical tools, from simple benchmarking techniques and regression analysis, to the more advanced statistical procedures and data mining techniques requiring computer intensive applications. Regardless of the techniques used, our overriding objective is to distil the information and present it in a format that can be quickly and easily understood.
We provide clients with objective advice so that they can identify opportunities and measure risk: the foundation of any business strategy. We interpret the results of our research and provide clients with clear and concise advice to assist them achieve their business goals and objectives. This may involve a recommended course of action, a forecast of future events or simply an interpretation of market survey results. It provides clients with valuable input for their decision making process.
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