Qualified advisers answering your
Financial Questions
call 0800 092 1245

London office space set for boom year

Property specialists Knight Frank have today issued a report suggesting that the London office market is set for a boom 2010 due in the main to supply difficulties. It is forecast that the value of office space in London could increase by up to 43% with rents set to rise by 19%. These are exceptional figures but then again the London office market is an exceptional market!

As you would expect from what is effectively a mini economy within the UK, the London property market has a wide variety of property available at very different prices and of very different quality. The main reason for the expected boom time in London is purely and simply because of a lack of new commercial property coming online with many developments having been mothballed or cancelled outright when the credit crunch hit home and the economy turned down.

Even though a number of prominent UK property developers have stepped forward with new ideas and new property developments, these will take some time to bring online, hence the short-term issue with supply. It is forecast that actual available office space in London will fall by 14% this year while the number of new office schemes completed will fall by up to 26%. When the new supply comes online we should see prices and rental costs start to stabilise.

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details