A growing number of organisations are making enquiries regarding relocation to London,
highlighting an increased business confidence in the capital.
Cluttons has reported that the increase in searches is spread across a broad range of sectors, including accountancy, law and IT companies, as well as financial services.
Budgets are also increasing to levels not witnessed for several years. Up to the first quarter of this year, the majority of relocation agent activity was on behalf of junior or entry-level employees, the firm explained.
However, as the year progresses, so do the number of searches on behalf of senior executives with higher budgets in the region of GBP 1,000 per week upwards.
Lynn Hilton, partner for residential lettings
at Cluttons, said: "Relocation activity is a reliable indicator of confidence among the business community. London has withstood the recession well but relocation agent demand had dropped significantly until last year and now activity levels are increasing rapidly."
- Tuesday 07 June 2011