As we’ve just passed the two-year anniversary since the first COVID-19 lockdown, the outlook for the London fit out market is looking more positive than it has been for a while according to the latest survey by Colliers’ Cost Consultancy team.
Alongside our Research & Economics department, the team has compiled its latest report to provide an overview of the London fit out market in the context of how the wider economy is performing.
Activity in the office market has picked up and is remaining strong across the UK and in London. In particular, demand is focussed on assets with strong sustainability credentials or the opportunity to become more closely aligned to the carbon net zero priorities of occupiers.
As part of the twice-yearly survey, specialised trades like joinery and glazing reported that their order books are close to three quarters full for the whole of the year. Although there are still challenges around building material prices, it’s thought that the worst may now be over.
In this report we observe tendering conditions and expected price inflation for projects this year and next.