The Oxfordshire office market has enjoyed a record year, according to a survey by commercial property agents.

FPD Savills has revealed 463,000 sq ft of office space was taken up last year, a rise of nine per cent.

And within that figure, take-up of prime accommodation has soared to 340,000 sq ft, up 61 per cent on last year.

But, spiralling demand for office space has been offset by a 15 per cent drop in the take-up of industrial units.

While smaller units are being snapped up, larger accommodation is in excess supply.

Richard Venables, head of commercial agency at FPD Savills, said: "Oxfordshire has a very broad base commercial market and has not experienced any significant impact from the hi-tech stock market crash in April, unlike the M4 corridor which is heavily reliant upon the IT sectors."