Office vacancy rates in the city centers in the UK 2023, by city
In the fourth quarter of 2023, office vacancy rates in the UK were the lowest in Bristol, at 5.5 percent. The vacancy rate is the percentage of available office rental units that are vacant or unoccupied during a given time. High vacancy rates in a city can mean that supply is outweighing demand, or that the quality of particular properties available not meeting the desired demands of the rental market. After the COVID-19 outbreak, demand for offices has declined, leading to increased vacancies across most markets.
