Vacancy rates for office space in the south east are at their lowest since 2001.

The research by Knight Frank says that availability within the M25 was down 13% in the first quarter of 2015 compared to a year earlier.

The M25 vacancy rate for 2015 Q1 stood at 5.9%, falling to just 4.2% when only new and Grade-A office space is considered.

Emma Goodford, head of national offices leasing team, Knight Frank, commented: “2015 has started positively supporting our view that take up in the M25 will be almost 30% ahead of 2014, and above the ten year average.

“Vacancy levels are heading towards crunch point in combination the market seeing rental growth across a growing number of key centres.  In some cases rents are now at an all-time high- motivation for occupiers to identify and secure the best space now. The election has removed uncertainty and will drive demand.”