Signs of life in the London office market during the summer lead me to think that there may be renewed confidence amongst the London business community.
It’s August again, and traditionally everything quietens down on the business front, whilst everyone is taking summer holidays. And this is no different in the commercial property business. Generally, businesses are unlikely to start looking for new London office space in the height of summer. However, something odd has happened this year – it hasn’t got quieter this August. There seems to be a manifest increase in the amount of companies who have started to look for new offices in London. Of course, this is very good news, but it’s also very odd, given that this increase should happen when so many people are away from London on holiday, especially so given the economic uncertainty that we have now become accustomed to. So why might this be?
According to the CBI distributive trades survey, high street sales are up compared with a year ago – in fact the highest since early 2007. GDP is up and the FTSE seems to be holding at a reasonable level. All in all things are starting to look rather better, and – if the increased number of enquiries that we have received regarding new office space availability is any indicator – this renewed optimism seems to be spreading into the business community.
It’s a fact that more people and companies have decided to press the “go” button in their search for London offices, so perhaps we are all becoming more confident?
This has all caught us slightly unawares at FindaLondonOffice as half the team are on holiday – so that’s keeping the other half of the team very busy. Still, none of us should complain, if the business community is slowly but surely becoming more confident about the way ahead.