• Take-up across Central London continued to rise, seeing an increase for the third consecutive quarter. At 2.7m sq ft, this is 58% up quarter on quarter but still 12% below the 10 year long term average.
  • Availability declined for the first time since Q3 2019, decreasing by 2% to stand at 25.7m sq ft. London vacancy rate increased marginally to 9.1%.
  • Under offers increased by 42% over the quarter to 3.9m sq ft – this is the highest the market has seen since Q3 2019 and is 22% above 10-year average (3.2m sq ft).
  • Capital transactions totalled £2.3bn in Q3, a marginal fall on the previous quarter. This brought the year-to-date total to £6.1bn, almost double the level seen in the corresponding period in 2020.