By Max Clarke

The cost of rented and shared office space in London has fallen by 10% per desk over the last quarter, driven by a slowdown in office uptake in the capital.

The Office Genie Price Index has shown a 10 per cent drop in both rented and shared office average monthly prices across the UK over the last quarter. London prices were at the heart of the slump, mirroring the national drop.

However prices in key business centres such as Birmingham and Manchester held their own, with very little price fluctuation between June and September. Also, serviced office monthly prices remained static across the UK over the same period.

“Since June we have seen the average cost fall from £139 per desk in June to £122 per desk in September,” commented Office Genie managing director Ciaron Dunne. “This drop was mirrored in London, where the average price per desk fell from £194 to £172.”

“However in Birmingham prices were static at £159, while both Manchester and Leeds saw slight rises in average prices per desk.”

It was a similar story for shared offices, where desk prices fell in average cost from £328 to £294. Again, the price fall was most keenly felt in London where the average being charged fell from £339 to £306.

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