United KingdomReal Estate and Construction
West End Office Rental Values Continue to Grow
There was a 1.7% change in the All Property Rent Index from the previous quarter, with increases in all three sectors. This is reflected in the annual figure of 3.8%, which is higher than the year ending November 1995 (2.8%) or February 1996 (2.5%) and more than the expected rate of inflation (2.4%).
In the retail sector, all areas achieved an increase on the last quarter. However, increases were marginal, exemplified by the fact that the largest increase in this quarter was 1.8%, compared to the previous quarter's high of 4%. Over the year, Central London, as in the previous two quarters, easily achieved the highest increase. The London, North, Scotland and Yorkshire areas were the only ones to achieve growth above 2%. Wales was the only region to experience a decrease over the year, though the change was marginal, at -0.5%.
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