Well as we approach 2010, many will be keeping an eye on the office space market in London. With the West End climbing back to the top of the occupancy costs league earlier in 2009, many will be keen to see how the capital performs in 2010. It is estimated that around 25% of all UK serviced office moves are made in the London area, showing just how important the London Office market is. Prices have taken a battering over the past two years, falling some 40% in prime West End areas.
However, the West End will probably be the place where the recovery starts. Lack of supply is driving rents up, albiet at a slow rate. The £145 high watermark of 2007 is some way off but the recent signs are encouraging. The simple rule of supply and demand will more often than not be in the favour of agents when it comes to office space in London.