South East Office Review Q2 2019
Our experts gather around to analyse and feedback on how the South East Markets have done in Q2. With an increased Take-up, this keeps the H1 levels in line with the five year average, although volumes have decreased slightly.
- Take-up reached 713,646 sq ft in Q2 2019, 41% up on the previous quarter. This brings H1 2019 levels to 1.2m sq ft, largely in-line with H1 2018 (1.3m sq ft) and the five year H1 average.
- Identified demand currently stands at 4.9m sq ft, 13% up on Q1.
- The vacancy rate stood at 7.8% which is down on the same period last year and below the 10-year peak of 14.1% in Q3 2013.
- H1 2019 volumes reached £801m, down 42% on the same period last year and 47% below the five year H1 average.
- Just one deal over £50m has been transacted so far this year, compared with nine of the lot size in H1 2018. This reflects the lack of this type of product on the market rather than a lack of investor appetite.