Recent surveys suggest that our forecast that 50% of office employees will go into work every day is too high. But it also looks like the vast majority of those working from home will only do so part time. That complicates the outlook for office demand. In the short term, more hybrid working appears to have limited the extent to which firms have been able to offload office space. But firms will eventually find efficiencies and that implies that while the hit to office demand may have been delayed, it is still coming.
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