One of my arguments around return to office is that we have not yet reached a post-pandemic equilibrium. Meaning, we're still in the process of coming back and it's probably too early to say where exactly we will end up.

The latest data (above) from the Strategic Regional Research Alliance (which is for Toronto) seems to suggest exactly this. Office occupancy continues to steadily increase from its low point in the middle of COVID.

We are now seeing an average weekly occupancy of 63%, a low day occupancy (Friday) of 40%, and a peak day occupancy (Wednesday) of 73%. All of these figures are relative to the number of people working in offices prior to the pandemic.

It is, once again, hard to say where this will ultimately settle. But my gut tells me that this climb still has a ways to go.