Rent Index - 7 June 1995

Latest figures - Rental value growth in office sector slows

Over the quarter to May, the All Property Rent Index rose by 0.5%. This compares with a 1% increase in the previous quarter.
As in the previous two quarters, the growth in the All Property Index has been provided predominantly by the office sector. However, the rate of growth slowed over the last three months, particularly in Central London, from 3.3% over the quarter to February to 1.1% during the last three months. Over the last quarter, Central London has seen a reduction in the levels of take-up although, in recent weeks, there have been signs of an improvement. [QQ]Retail rents increased by an average of 0.4% compared with rental value growth of 0.2% over the quarter to February 1995. The quarterly increase was even more pronounced in Central London which saw rents rise by 4.1%. This is in stark contrast to an increase of just 0.9% in the previous quarter. Central London, with an annual growth rate of 10.2%, was