The recovery of the Thames Valley and M25 Office markets has continued in 2007
The recovery of the Thames Valley and M25 Office markets has continued in 2007. Levels of take-up have been strong during the first half of 2007, with 3.97m sq ft transacted. Vacancy rates in all three markets have fallen with the Thames Valley now at 11.3%, a percentage point down on the end of 2006. Availability has continued to diminish across the region with many towns having little or no space under construction. Total availability across the three markets stands at 18.1m sq ft, the lowest level since 2001. The declining availability of new space in particular has pushed rents upwards with annual rental growth in the South East running at 4.5%.