Today's political climate puts London and its property market in the spotlight. The London Office Crane Survey acts as a barometer not only for the commercial property market but for the economy as a whole. We've tracked every office scheme under construction across central London.
Key findings
- Office construction is down 9% since the last survey and the last six months have seen the lowest volume of new space started since 2014
- This caution is somewhat mitigated by demolition levels hovering around 8m sq ft, indicating a desire to keep developing
- There have been above average levels of completions and 2017 is on course to deliver a 13-year high of space
- This is welcome news to a buoyant rental market in which 44% of space under construction is already let.
Read the full London Office Crane Survey Winter 2017
- Demand for new space will remain resilient
- The rise of vacancy rates across central London will continue
- The continued rise of co-working space is set to impact the market
- Brexit will move Real Estate up the agenda for businesses.
Download the London Office Development table
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