This statistic displays the office vacancy rate in London (UK) from 2006 to 2013 and a forecast thereof until 2019. Office vacancy rates are numerical calculations of all office space that is available to rent in any given market. The calculation is presented as percentage and it is the opposite to office occupancy rates. The office vacancy rate in London amounted to seven percent in 2013 (decrease from 10.2 percent in 2010) and it was projected to decrease further to 4.4 percent by 2019. Office vacancy rates are understood as one of the indicators, foretelling the future good or poor economic performance of the commercial sector in London. The lower the office vacancy rate, the better conditions for business, as companies have confidence in expanding and upgrading, and the market witnesses numerous new entries into the business. It is also interesting to juxtapose the projections for the leading European cities, such as for example the vacant office space in Frankfurt or office vacancies on the market in Paris, in view of the theory of global centers of business being interconnected and more similar to one another, than to the region they are located in.

Private companies were responsible for most of the new homes built in the United Kingdom (UK), amounting to ******* units in 2023. Housing completions in the UK decreased for three years in a row between 2007 and 2010. This was followed by several years of fluctuation and a gradual increase from 2013 to 2019. The number of homes completed in England remained relatively stable in 2021 and 2022, after reaching a low point in the second quarter of 2020 due to the restrictions implemented to prevent the spread of COVID-19. Construction starts and completions Comparing the number of starts and completions in London side-by-side shows that whenever there is a significant growth or fall in the number of projects started, that peak or valley tends to be reflected in the number of buildings completed a couple of years later. Nevertheless, disruptions, delays, and other obstacles may affect that correlation. Still, observing how many home construction projects started in the UK can provide some insight into the level of activity that construction companies may have in the near future. Given that the number of housing starts is forecast to fall in 2023, there might be slightly less work to be carried out the following year. Nevertheless, housing starts are expected to pick up again by 2024 and 2025. Housing associations in the UK Housing associations are not-for-profit organizations created to develop and rent homes for a lower price than in the private market. They have acquired certain relevance in the UK, although this type of organization also exists in other countries. On several occasions during the past decade, over a fifth of housing starts in London were developed by housing associations. Meanwhile, the number of new homes completed in Scotland by housing associations has increased a lot throughout the years, with several thousand units constructed every year during the past decades.