Office rents are due to rise by an average of 5% over the next 12 months.

In London, the RICS is reporting increasing demand for office space, but says that demand is heavily outpacing supply.

According to the RICS, permitted development rights which allow the conversion of offices into homes without the need for planning permission, is bringing supply down and contributing to rent rises.

The permitted development rights have been made permanent, and also extended, so that offices can be demolished to make way for homes.