With the impact of the recession and the continuing effects of last Autumn’s Comprehensive Spending Review continuing to feed through the office market was never set to be an easy place to be.

Job cuts and freezes have seen companies both big and small halt expansion plans or office moves until stability returned to the market.

But according to latest reports that stability may be returning  – albeit it only in Central London currently.

Agents believe that in London at least leasing levels are again at record highs. According to CB Richard Ellis leasing levels in the City rose to 6.4 sq ft – the second highest on record while Central London take-up was 15 million sq ft, up by 67% on last year and the highest figure for the past four years.

With the office development market also restricted this year, with only 1.6 million sq ft due for completion in 201,  availability will be further restricted meaning the office market will boom yet more.  According to similar research from Knight Frank availability in the West End is likely to fall by 7% this year to 6 million sq ft.

Knight Frank believes that a lack of supply over the next two years coupled with business expansion will mean that are core markets are likely to achieve new record headline rent levels with prime City rents forecast to increase by 9.1% to £60 per sq ft in 2011 and to £67.50 per sq ft by 2012.

Other sectors and other regions can only look on with envy