Other areas which have been hit by the fallout in the IT sector include Cambridge where rents have fallen from £24 ($35) to £21.50 ($32) per sf, a fall of 10.5%. Yet in nearby Peterborough rents have continued to rise from £12.50 ($18.50) to £14 ($21) per sf on the back of a restricted supply.

Catella identifies retailing as the strongest UK property sector at the moment, and director Gordon Wood said: "In the past six months the strength of the consumer market has been evident throughout Britain with 6 of the 21 centres reviewed showing a modest rise in retail rents and no centres showing a fall. Retail warehouse rents have shown dramatic rises, once again supporting the confidence shown by investors and retailers in out of town retailing."

In Glasgow prime rents have broken the £200 ($295) zone A barrier and Oxford and Cambridge have seen £240 ($355) and £210 ($310) zone A, representing rises of 4.35% and 2.45% respectively. And out-of-town, retail warehousing in Birmingham has seen a 16.25% uplift to £32 ($47) per sf.