Research
Central London Office Market Dynamics, Q3 2024
Summary and analysis of Central London's current office market conditions.
October 17, 2024
Contributors:
- Chris Valentine
- Julian Sandbach
- Elaine Rossall
- Hayley Mooney
Leasing momentum continued to pick up, with improved volumes quarter on quarter. Just over 2.8 million sq.ft. was let- the highest quarterly volume in 2024 resulting in YTD volumes being 5% up on the same period in 2023.
Supply increased slightly, with both the West End and East London markets recording an uplift in supply whereas the City continued to record a contraction.
Prime rents increased and reached £147.00/sq.ft./annum, which reflected annual rental growth of almost 10%.
