UK regional cities are reporting record levels of construction activity as developers’ confidence for city centre residential development remains strong.
The latest reports in the Deloitte Real Estate Crane Survey UK series monitor construction activity in Belfast, Birmingham, Leeds and Manchester. Each city has seen a sustained or increased level of development across a range of sectors including offices, residential, hotels, retail, education and student housing.
Simon Bedford, partner and regional head at Deloitte Real Estate, said: “Residential development stands out this year. The surveyed cities have shown a marked increase in housing development, in some cases doubling activity from the previous year.
“Our UK crane survey data shows a collective total of nearly 17,000 residential units currently under construction in these cities, ensuring housing targets are being taken seriously and developers are striving to meet demand.”
In Leeds the number of residential units under construction across the city centre is at its highest in a decade – 1,586 units across five development sites.
Leeds has also witnessed further growth in the higher education sector with four new starts recorded adding over half a million sq ft into the development pipeline. Leeds also continues to deliver good volumes of new office space with three new construction starts in 2017.