London office movement cools slightly in August as core sectors keep the market moving

The numbers

The London in-market total stands at 676 companies for August 2026, down from 707 in July — a fall of 31, or roughly 4.4%. The hot count, our narrower measure of businesses actively pursuing a move, also eased, from 38 to 32.

Lease events recorded this period totalled 395.

The direction is consistent rather than dramatic: fewer businesses are freshly entering the market than last month, and the pool of the most active movers has thinned slightly too. That points to a market working through existing requirements rather than generating a fresh wave of them. With 395 lease events still logged in the period, occupiers already committed are continuing to transact at pace even as the front end of the pipeline narrows.

Where the movement is

The City and fringe (EC postcodes) remain the dominant submarket by a wide margin, accounting for 235 of the businesses we track, more than a third of the total. The West End (W) follows with 156, then Midtown (WC) on 79, Southbank and the South East on 69, and North and North West London on 45.

By sector, finance and insurance leads with 150 businesses in the market, ahead of tech and software on 98 and legal and consulting on 93. Professional and creative services account for 71, and media and publishing for 45. Together, finance, tech and legal make up more than half of all activity — a reminder that the traditional core occupier base is still setting the pace of demand, even as smaller creative and media firms contribute a steady secondary flow.

In the press this week

A Hong Kong-based restaurant group is continuing its expansion with a new City site, according to Estates Gazette. Separately, Property Investor Today reports that central London office space under offer has hit a 19-year high, a sign that occupier decisions taken earlier in the cycle are now converting into signed deals.

CoStar notes that IPUT has secured renewals and new lettings across its Studio flexible workspace platform, underlining continued appetite for flexible product even as headline demand cools. On the investment side, CoStar also reports a Czech investment group has completed a £291 million acquisition of BP's London offices.

On the development side, Property Week reports that the Ellison Institute of Technology has been given the go-ahead for a London headquarters revamp. And BE News reports that BGRE has sealed a leasing deal with an AI firm at The Gilbert, adding another tech occupier to the City's roster.

Put this data to work

Every figure above comes from the live Signal dataset — the same one that powers the London Office Movement Index. If your business wins work when companies move, see the leads behind the numbers: office fit-out, relocation services, facilities management and more.