Office space demand has grown in Q1 | 12 May 2011
Quarter one of 2011 has shown a significant rise in demand for office space throughout the capital, according to central London surveyors.
They reported a rise in demand of 39 per cent – up 22 per cent on previous quarter results; whilst 43 per cent of greater London surveyors also said they had seen an increase in demand.
This is great news for the commercial property sector, as recent reports have also suggested that demand will only continue to rise over the coming months.
Furthermore, as demand outstrips supply in London, it may mean surrounding counties receive a boost to their commercial property market, too. This was confirmed by Mortgage Introducer, which said: “Interest from occupiers appears to be extending out beyond the capital.”
“The south-east was a significant beneficiary of this emerging trend, with surveyors reporting increasing interest in office space.”
Securing properties in both London and surrounding areas may lead to more investors procuring efficient property management software; as this will help them manage their property portfolios very easily, from any location.
One industry insider spoke out regarding the rise in demand, Simon Rubinsohn, who told Mortgage Strategy that: “London still appears to be where most of the activity…is taking place.”
“This is reflected in…a healthy recovery in capital values.”
Written by Deborah Bates on behalf of Qube Global Software
While posted by Qube Global Software all views expressed are not necessarily those of the company. All facts are verified where possible directly by the author.
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