City offices at their fullest since the crash

 
Tim Wallace
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FIRMS are flooding back to London, driving occupancy rates in the square mile back up to their highest rate since the credit crunch struck, a study from TheCityUK shows today.

Employment in the City has also hit a post-crash high, and the number of senior staff gaining permission to work in finance is also up.

Just 6.1 per cent of office space in the City and Docklands was vacant in the second quarter of this year, the lowest level since the start of the downturn.

It came as an additional 203,000 square-metres of space was rented out in the three-month period.

And firms taking more space are also taking on more staff – TheCityUK expects headcount in finance and professional services to rise by 2.7 per cent across 2014 to hit 707,500.

The businesses are hiring more senior staff as they grow. The Financial Conduct Authority approved 3,236 in the quarter, up from 2,749 in the previous three-month period.

The City industry group believes this points to sustained growth for the rest of the year for finance firms.