Desk jockeys - Why Britain has felt this seismic shift more than many countries

Working from home is a seismic shift in employment patterns that has rocked charities, businesses and public sector organisations across the world.

- Phillip Inman

From Hong Kong and Singapore to London and Toronto, white collar workers have changed the way they work, shop and pursue culture and recreation, shifting many local economies on their axes. For many towns and cities it's as if the sun shines at a different point in the day, such is the transformation in how 60% of people conduct their lives.

Britain is one of the most affected countries, according to a study of hybrid working by the German economic thinktank Ifo.

Office space lies empty and unproductive, with mostly skilled and professional workers refusing to sit at a desk in an office as they did before the Covid-19 pandemic.

Analysts at the US bank Morgan Stanley say the markets for office space globally will be oversupplied for between five and 13 years as developers wrestle with a combination of high borrowing costs and hybrid working, which will hit demand and put a cap on how much rent they can charge.

Estate agent Cluttons, in its review of UK office space, said in the three months to the end of June the vacancy rate was at 7.6%, the highest level since 2014. It is tipped to hit 9% next year.