Overall leasing volumes continued to improve over the third quarter of 2011 despite variations in prime offices rents, according to JLL's latest European Office Clock Report.

Prime rents increased over the last quarter in Stockholm, The Hague (both +2.4%), Hamburg (+2.2%) and Milan (+1.9%), although these were offset by decreases in Brussels (-3.2%), Dublin (-3.0%), Madrid (-1.9%) and Edinburgh (-1.8%).

Office rents in CEE markets remained stable compared to the previous quarter, reflecting continued positive demand.

The amount of European office space let increased in Q3 2011, with 2.9 million m2 of gross take-up, an increase of 6% compared to Q2 2011 and 16% higher than Q3 2010.

'Demand is fluctuating across Europe,' said Bill Page, head of UK and pan-EMEA Office Research at JLL. 'In the first three quarters of 2011, London office space take-up fell by 40% whilst Berlin, Munich and Stockholm grew strongly.'

In CEE the Q3 figures are 29% higher than the same period last year.

New office space completions throughout Europe remain low. Across the first three quarters of 2011, 2.3 million m2 completed, about 45% below the 10-year average. 'Shortages of good quality space continue to be an issue in many markets,' Page added.