Just 20 projects commenced construction in the city last year, the lowest total in a decade, according to Deloitte’s annual crane survey.
The report represents a combined table for progression in Manchester and Salford. The 27 finished patterns were higher last year and the number of residential sets and the amount of area delivered in 2024 were greater compared to 2023.
However, the number of departures fell under the average at 10 years in all sectors, developers and investors who have continued to combat opposite to winds.
In general, the number of projects of the structure lately has a higher from 61 to 58 years during the year.
Despite this, Manchester continues to surpass other regional cities that Deloitte investigates.
Departures 20 on the site that the city saw in 2024 were one of last year. Meanwhile, Belfast, Leeds and Birmingham have experienced new decreases, five and two projects respectively.
John Cooper, an infrastructure and genuine spouse in Deloitte, said: “You just have to see Manchester’s roofs to see how the city has replaced in the last decade because it has it in a dynamic innovation center.
“Our survey’s findings demonstrate that despite ongoing pressures and a decrease in new starts, Manchester’s construction sector remains active and is very well placed for further development over the next few years.”
Manchester saw 11 residential projects innovate in 2024, while 4,400 houses were delivered, a construction of 2,000 sets in the annual sliding.
This is that the total number of houses lately low structure is 10,788, a minimization of approximately 1,000 in the beyond two years, according to Deloitte.
No student schemes completed construction in 2024, but the pipeline for this residential subsector continues to expand. Just last week, Manchester Metropolitan University announced plans for 2,200-units at its All Saints Campus.
“Despite the headwinds and political uncertainty shaping much of 2024, Manchester’s residential market continues to deliver results,” Cooper said.
“The city’s commitment to meet the desires for accommodation and the completed touch of around 9,000 new houses in the next two years means that Manchester is on the right path to exceed the average annual call for houses, known in politics of Grand Manchester.
While the delivery of residential development remains resilient, delays for taller buildings caused by the Building Safety Act could see a downturn in the coming years.
The amount of area under structure in 2024 fell particularly year-over-year from 2. 2 million square feet to 1. 5 million square feet, a 30% decrease, indicating the uncertainty of the market when it comes to extracting the cause of the new work regimes.
Most of the Manchester structures are now renewal projects, adding the Rylands review of 300,000 square feet of AM Alpha and the 350,000 square feet of Parthena Reys, a hard boulevard man.
A lack of supply coupled with strong demand for offices has driven rents upwards to the cusp of £50/ sq ft. This rental growth is expected to continue given the dearth of grade A space coming forward.
“The change to hybrid paint models has created an opportunity to offer offices that prioritize collaboration and sustainability,” Cooper said.
“Manchester followed this trend while seeing a transition to renewed offices that constitute 68% of the general substantive area under structure in 2024”.
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By Jonny
Hi Jonny. Liverpool is not mentioned in the story because the Deloitte survey does not cover Liverpool. Best wishes, Dan
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