The impact of the measures taken to curtail the spread of COVID-19 have dramatically changed the working landscape, not least of all for the commercial property market, claims a new report from property consultancy DeVono Cresa. Commercial occupier demand for London office space fell by 30 percent across Q1 of 2020, according to the report. However, it also suggests that the market fundamentals at the end of March remain relevant and will dictate heavily on future real estate decisions. More →

Rumours of the demise of the office are much exaggerated, according to new independent polling commissioned by the British Council for Offices (BCO), the representative body for the UK’s office sector. Just one in five (20 percent) UK adults plans primarily to work from home in the future, while only 16 percent hope that working from home replaces the office. Last week, Twitter, the social media company, announced that staff could ‘forever work from home’ if they wanted to. However, that offer would only be partially taken up by British workers, with many instead opting for ‘mixed working’, balancing time between the office and home. More →

Members of the National Federation of Builders (NFB) have expressed concerns that the lack of clarity from the Government is causing the construction industry to close down. As well as reducing productivity to ensure on site social distancing, reduced access to materials and public opinion has made it extremely difficult for industry to operate. More →

Commercial tenants who cannot pay their rent because of coronavirus will be protected from eviction, the government has announced. Many landlords and tenants are already having conversations and reaching voluntary arrangements about rental payments due shortly but the Government says that it recognises businesses struggling with their cashflow due to coronavirus remain worried about eviction. More →

The number of young workers leaving London is on the rise, with net migration away from the capital growing, claims new research from Totaljobs and Professor of Economics at Lancaster University, Geraint Johnes. The new research, taken from analysis of ONS data as well as the views of 2,000 Londoners, suggests that since 2014, more than one million professionals have left London, with just 900,000 coming in. This is a net loss of 88 workers every day, with the biggest shortfall down to workers aged 25-34, the majority (54 percent) of them having given up hope of ever owning property in the capital. There has been a 49 percent increase in outbound migration of those in their 30s over the last five years. More →