Such is the pace of change and the volume of new lettings that many areas of the capital are feeling the pressure of low vacancy rates.
That is certainly true in Midtown where Farebrother warns of the problem of a shortage of buildings. The same will be true of the South Bank, which is now considered to be a core central London market.
In fact there are plenty of development plans for these areas and other places such as Kings Cross and the City. The question is when will they be built and whether the balance has not swung too far to residential schemes.
In the case of the South Bank demand can be satisfied by the schemes for Nine Elms and Battersea. It should also not be forgotten that the City is good at adapting to market conditions, as can be seen from our feature on the Square Mile in this issue. Here the traditional occupiers, finance, banking and the law have become more active in taking space, although TMT companies are still an important part of the market.
Another impressive fact about London is the spread of investors, such as Indians tying up with Spanish for a scheme and Chinese buying widely.
They do not, as in the past, confine themselves to the West End and City.
That is healthy for such a large city as London and spreads the quality of the built environment and brings economic health to new areas.