the workspace people
A candid overview of flex space desk prices in key areas of London so far this year, compared with where they were in 2021.
Key takeaways
- 13 out of 15 sub-regions of London showing double-digit % YOY growth in desk rates (but two have reduced)
- North of the river accelerating faster than south
- Canary Wharf, North and North West London leading the way in YOY gains
- Mid-Town nearly breaking the £500 per desk average after a sluggish 2021 (still surprised it's below this level)
- East London Prime (East of City / Aldgate) showing good momentum
- West London Prime (W2, W4, W6, W8, W9, W11) weakening… maybe people moving East, further West, or North West where strong gains are being seen?
- Euston & Kings Cross and West End remain the most costly, but this has always been the case
- City of London seeing good recovery, which is good to see in a sub-region which has always had the highest saturation of competing listings (currently 200+!)
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