"What are the key trends we will see in the Greater London & South East office market in 2023?"
Greater London and South East Offices
"Positive leasing momentum built throughout 2022, with take-up increasing in each quarter"
"Take-up has increased for the third consecutive quarter amidst an increase in activity from smaller occupiers. New rental tones continue to be set with the supply of prime Grade A space limited"
"Activity from smaller occupiers was the highest since the start of 2020 in Q2 2022"
"The positive momentum building at the beginning of 2021 has continued throughout the year"
"The recovery in demand continued with take-up recorded at the end of Q3 2021 above the total recorded in 2020 and 13% above the first three quarters of 2019"
"The pent-up demand, which was on hold in 2020, has returned in 2021, with take-up recorded in H1 2021 being 22% above the five-year average…"
"Demand returning to the market with an uptick in requirements recorded"
"Q2 was dominated by lockdown, and its impact has been felt across the region. Supply however remains tight, with the vacancy rate at 5.9%, so while there are short-term pressures on headline rents, the longer-term rental outlook is robust"
"Take-up was above the long-term average in Q1 2020 and the supply constraints in the market persist with availability 9% below the five-year average"