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New Year, Same Occupancy For London Office

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London's Homebuilding Rate Has Slowed To Historic Lows.

The number of workers showing up to offices in London and the UK in January was broadly the same as the figures seen throughout 2023.

Average occupancy at London offices peaked at 36.5% in the week of 19 January, data from Remit Consulting showed. The equivalent figure for the whole of the UK was 34.3%.

That compares with a weekly average high of 33.5% in December 2022 and 35.9% in December 2023. The year started with a slight uptick over December before tailing off. The last week of January saw occupancy wane due to below-freezing temperatures.

Measuring only Tuesday-Thursday occupancy, January peaked at 40.9% in the UK, Remit said. If adjusted for the fact that offices were only an average 60% full before the pandemic, that occupancy came in at 57% of pre-pandemic levels, according to the data.

“While the post-holiday recovery was expected and echoed patterns of previous years, the monthly average for January, at 28.8%, was slightly lower that that recorded twelve months previously,” Remit Consultant Lorna Landells said in a statement.

“January's occupancy rates reveal the ongoing vulnerability to external factors such as adverse weather conditions.”

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