Companies are taking out shorter office leases

Average UK office lease length, months

60

55.8

50

52.4

40

39.1

37.4

34.5

30

20

10

0

2019

2020

2021

2022

2023

60

55.8

50

52.4

40

39.1

37.4

34.5

30

20

10

0

2019

2020

2021

2022

2023

60

55.8

50

52.4

40

39.1

37.4

34.5

30

20

10

0

2019

2020

2021

2022

2023

60

55.8

50

52.4

40

39.1

37.4

34.5

30

20

10

0

2019

2020

2021

2022

2023

Re-Leased, 2023