Figures

London Ontario Office Figures Q2 2026

Core footprint expansion drives strongest absorption since 2017

July 17, 2026 5 Minute Read

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  • London's office market recorded 50,000 sq. ft. of positive net absorption in Q2 2026, driven primarily by leasing activity in Core Class A and B buildings.
  • The overall vacancy rate decreased 80 basis points (bps) to 25.0%, with broad-based improvements across the Core as downtown leasing activity and occupancy growth reduced available space.
  • The London City Center complex accounted for a significant share of net absorption through new tenant commitments and an increasing in-person headcount.
  • Net asking rents increased 2.6% quarter-over-quarter to $13.85 per sq. ft., supported by continued demand for higher-quality office space and growth in office-using employment.