Chairman Jones Lang LaSalle

I believe next year will see the peak in the growth phase. Features of the year will include greater equilibrium in the investment market as supply continues to increase in the belief that values may be at, or close to, their peak and demand less acute as investors' requirements are satisfied. Private investors will continue to frequently outbid institutional investors.

The continuing demand/supply imbalance in the office market will provide some further rental growth. Limited development opportunities and serious access problems in the city centre will see more office demand being satisfied in suburban/ out-of-town locations with greater accessibility and lower costs. The viability of some development projects on expensive sites may become marginal due to high building costs.

Occupier and investor demand for distribution facilities near the M50 will be in big demand.