Developers started a record number of central-London office projects in the six months through March as they tried to capitalize on rising rents.

Construction work began on 51 office buildings during the period, Deloitte LLP said in a report on Tuesday. About 14 million square feet (1.3 million square meters) of space is now under construction, 28 percent more than the previous six months and the highest since March 2008, according to the report.

"In just 18 months, we have seen activity nearly double," Deloitte said in the report, which it started publishing in 1996. "This is perhaps the first survey in a long time where we are able to point to the pendulum swinging away from landlords and back toward tenants."

This doesn't seem to jibe with the rest of the economy, that's for sure. Soon we may see the pendulum doing something more like "crashing" back towards tenants...

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