Research by Savills has shown that property costs in London are three times what they are in the regions. The rising costs may force businesses to relocate out of London in order to minimise overheads. Average office rents in the West End are now £106.91 per square foot and in the City £75.70 psf. The London housing crisis also means that employees are unable to afford property in the capital and may prefer to live in more affordable cities like Birmingham or Manchester.