London set to lead a belated recovery

摘要

Office project starts fell by 17 per cent last year compared with 2009, leaving the underlying value of new work 67 per cent below 2007 levels.This is despite improved economic conditions, increased availability of finance, increasing office demand and higher rental yields. However, this performance has not been uniform across the country. London experienced a significant rise in the underlying value of starts last year, and reported the lowest vacancy rate for two years at the end of 2010, according to CB Richard Ellis.