Beautiful Virgin Islands

Wednesday, Aug 27, 2025

Home working trend could 'revive the High Street'

Home working trend could 'revive the High Street'

Local high streets could be poised for a revival if the trend for home working continues, a survey suggests.

The Royal Institution of Chartered Surveyors' latest commercial property survey found almost all members - 93% - saw businesses scaling back their office space in the next two years.

It said a move away from urban hubs could prompt a shift to neighbourhoods.

RICS found most members expect retail and office rents to fall further this year.

Three-quarters of the commercial property agencies and valuation businesses it surveyed, said the market was in a downturn, with just over one in 10 predicting conditions had reached the bottom of the cycle.

The vast majority of respondents thought rents would fall in the next three months, the most pessimistic reading since 2008.


Commercial sector 'polo mint'


Hew Edgar, head of UK government relations for RICS, warned of a "polo mint" effect - a hollowing out of city centres.

But he said this could bring benefits, if properly managed: "With downturn there can be opportunity, government must also look to replace uncertainty with stability; and fill the middle of the commercial sector polo mint.

"Offices and shops in city centres need support as people stay away from their normal workplace, and although local shop hubs are benefitting the market must be addressed as a whole."

Simon Rubinsohn, RICS Chief Economist, said tenants are thinking about a shift because commercial property in central locations is more expensive, while people are wanting to work more from home and spend extra time in their neighbourhoods.

"For a lot of businesses they are thinking about that opportunity to move towards suburban locations. We're looking at a very different model going forward: there may still be a central location but it may just be a lot smaller."


Addressing the housing crisis


He said that will free up property for housing.

"It's quite clear the pandemic is going to result in more space becoming available. One of the obvious answers to that is to begin... to think about addressing the housing crisis that we have through use of some of this space."

However, Mr Rubinsohn added building conversions must meet quality standards for housing.

"I think it's really important that standards form the backbone of this conversion process," he said.

Mr Edgar said the government's recent proposal to loosen building development laws was flawed.

"It is possible to deliver viable office-to-residential schemes through the more stringent planning permission process," he said.

Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Spotify’s Strange Move: The Feature Nobody Asked For – Returns
Manhunt in Australia: Armed Anti-Government Suspect Kills Police Officers Sent to Arrest Him
China Launches World’s Most Powerful Neutrino Detector
How Beijing-Linked Networks Shape Elections in New York City
Ukrainian Refugee Iryna Zarutska Fled War To US, Stabbed To Death
Elon Musk Sues Apple and OpenAI Over Alleged App Store Monopoly
2 Australian Police Shot Dead In Encounter In Rural Victoria State
Vietnam Evacuates Hundreds of Thousands as Typhoon Kajiki Strikes; China’s Sanya Shuts Down
UK Government Delays Decision on China’s Proposed London Embassy Amid Concerns Over Redacted Plans
A 150-Year Tradition to Be Abolished? Uproar Over the Popular Central Park Attraction
A new faith called Robotheism claims artificial intelligence isn’t just smart but actually God itself
Deputy Prime Minister Angela Rayner Purchases Third Property Amid Housing Tax Reforms Debate
HSBC Switzerland Ends Relationships with Over 1,000 Clients from Saudi Arabia, Lebanon, Qatar, and Egypt
Sharia Law Made Legally Binding in Austria Despite Warnings Over 'Incompatible' Values
Italian Facebook Group Sharing Intimate Images Without Consent Shut Down Amid Police Investigation
Dutch Foreign Minister Resigns Amid Deadlock Over Israel Sanctions
Trump and Allies Send Messages of Support to Ukraine on Independence Day Amid Ongoing Conflict
China Reels as Telegram Chat Group Shares Hidden-Camera Footage of Women and Children
Sam Nicoresti becomes first transgender comedian to win Edinburgh Comedy Award
Builders uncover historic human remains in Lancashire house renovation
Australia Wants to Tax Your Empty Bedrooms
MotoGP Cameraman Narrowly Avoids Pedro Acosta Crash at Hungarian Grand Prix
FBI Investigates John Bolton Over Classified Documents in High-Profile Raids
Report reveals OpenAI pitched national ChatGPT Plus subscription to UK ministers
Labour set to freeze income tax thresholds in long-term 'stealth' tax raid
Coca‑Cola explores sale of Costa coffee chain
Trial hears dog walker was chased and fatally stabbed by trio
Restaurateur resigns from government hospitality council over tax criticism
Spanish City funfair shut after serious ride injury
Suspected arson at Ilford restaurant leaves three in critical condition
Tottenham beat Manchester City to go top of Premier League
Bank holiday heatwave to hit 30°C before remnants of Hurricane Erin arrive
UK to deploy immigration advisers to West Africa to block fake visas
Nurse who raped woman continued working for a year despite police alert
Drought forces closures of England’s canal routes, canceling boat holidays
Sweet tooth scents: food-inspired perfumes surge as weight-loss drugs suppress appetites
Experts warn Britain dangerously reliant on imported food
Family of Notting Hill Carnival murder victim call event unmanageable
Bunkers, Billions and Apocalypse: The Secret Compounds of Zuckerberg and the Tech Giants
Ukraine Declares De Facto War on Hungary and Slovakia with Terror Drone Strikes on Their Gas Lifeline
Animated K-pop Musical ‘KPop Demon Hunters’ Becomes Netflix’s Most-Watched Original Animated Film
New York Appeals Court Voids Nearly $500 Million Civil Fraud Penalty Against Trump While Upholding Fraud Liability
Elon Musk tweeted, “Europe is dying”
Far-Right Activist Convicted of Incitement Changes Gender and Demands: "Send Me to a Women’s Prison" | The Storm in Germany
Hungary Criticizes Ukraine: "Violating Our Sovereignty"
Will this be the first country to return to negative interest rates?
Child-free hotels spark controversy
North Korea is where this 95-year-old wants to die. South Korea won’t let him go. Is this our ally or a human rights enemy?
Hong Kong Launches Regulatory Regime and Trials for HKD-Backed Stablecoins
China rehearses September 3 Victory Day parade as imagery points to ‘loyal wingman’ FH-97 family presence
×