Having endured a lengthy period of slow growth, the mood has lightened considerably in the region with forecasts of increased activity and rising rents.
The positive signs are now well spread throughout the region, with several areas clearly making significant progress. Oxford is certainly one of those with the rapid expansion of the technology sector and record topping rental increases.
Here again the improvement is well spread throughout Oxfordshire, bringing in Bicester, Witney and Harwell as well Oxford city centre where regeneration schemes are providing commercial space.
However, it is the prospect of the rail led transport arc between Oxford and Cambridge that really excites the market. This is a real technology powerhouse on a global scale which surely can match anywhere in the world with two of the world’s top universities at its heart.
The success of this corridor is indicated by the level of rents, which are exceptional for areas outside London and exceed most regional cities.
The level of take up is also healthy (and has been for some years). The fact is that the performance of the technology sector in the Thames Valley is of major significance for the whole UK economy.
There is also no reason to expect this situation to change with the UK leaving the European Union and the latest market information is that the relief of a decision plus a government with a healthy majority is spurring the performance.