Update: September 2019 – London Offices

With monthly GDP rebounding, the UK economy has gathered some pace following the Q2 contraction, avoiding a recession before October’s planned Brexit at least. Property investment activity has been supported by alternative investment, but has still been 30% lower over 2019 so far than the same period in 2018. Rental value growth continues to be dragged down by the retail sector. However, the growth of CVAs is slowing, which should limit further rental value falls. Whilst central London office take up has been slow in 2019 after a strong 2018, the proportion of pre-let space is above average, supported by flexible office providers. Central London office rental value growth will slow a bit further this year, but will be better than many expected at the start of the year. Read more