Manchester Construction Industry Boom

The latest Deloitte Crane Survey shows bumper growth for a second year in Manchester with 20 major residential projects and six major office schemes starting in 2017.

Sustained strong growth means Manchester is enjoying a 60% jump in residential and 75% hike in office projects now under construction with most major high rise schemes.

The 11,135 residential units currently being developed represents the third year of sustained growth in the city despite rising construction costs and uncertainty in the market as a result of Brexit negotiations.

Simon Bedford, partner at Deloitte Real Estate, said: “Manchester has firmly established itself as one of Europe’s fastest growing cities.

“Backed by significant investor confidence, a strong business community, and an influx of new talent, the demand for property, particularly in the residential market, has never been more evident.”

He added: “With the additional investment we are seeing from international markets such as South East Asia, Middle East, and the US, Manchester’s real estate market will continue to develop at scale, cementing the city’s position as a global destination for business, leisure, and education.”

Several significant Manchester schemes are likely to commence in 2018 including major residential developments as part of the St. John’s masterplan, residential blocks at Circle Square, further activity from Manchester Life Development Company in Ancoats and New Islington and work on Angel Meadow, which forms part of the transformational Northern Gateway project.

Blog Content and Source by Aaron Morby on the website Construction Enquirer: http://www.constructionenquirer.com/2018/01/30/manchester-building-boom-hits-new-heights/