Office leasing

"Savills expects prime rents in Birmingham city centre will continue to rise, reaching £40 per sq ft over the next three years"

"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…"

"Q2 take-up figures up marginally on previous quarter, whilst requirements and under offers continue to rise"

"Take-up reaches 1.2m sq ft while supply continues to fall and prime rents remain stable"

"The Office sector has proven to be resilient through the pandemic. Capital values have remained unchanged the last 12 months, a reflection of how Australia handled the COVID-19 pandemic generally, which ultimately increased investor confidence in the office sector."

"COVID-19 has taken its toll on regional markets, with many seeing weakening rents and rising vacancy. That said, the expedited vaccination rollout should help spark an economic recovery later this year and increase demand for office space. For now, the prospects for each region will depend on demand and supply fundamentals."

"Non-prime areas have led the overall market contraction this quarter despite the continued stability of prime assets. Even so, with hopes that the expedited vaccine rollout will fuel the recovery in corporate performance later this year, things should look brighter for the offi ce market. Furthermore, limited supply until late 2022 will provide some breathing space."

"Rental declines are expected to be mild over the remainder of 2021 before the supply challenges of 2022 and 2023. "

"Supply drops for the first time since August 2020 while leasing activity picks up again"

"May take-up stumbles, however, also shows highest monthly under offer figures so far this year"