Manchester is one of Europe’s fastest growing cities

Manchester is one of Europe’s fastest growing cities

Recent research from Deloitte has demonstrated that Manchester is one of Europe’s fastest growing cities. The annual Deloitte Manchester Crane Survey has revealed that there are currently 11,000 flats being constructed across 41 different schemes. In addition, approximately 1.5 million sq ft of office floor space is also being built in the city centre. This includes six towers which are above 25 storeys in height.

Simon Bedford, partner at Deloitte Real Estate, said: “Manchester’s skyline is transforming. There are 40 or more schemes on site and they are all different. We’re seeing national and international designers all putting their mark on the city.”

With the annual survey reporting a 60% increase in residential units under construction from the previous year, this is the third year of sustained growth for the region. Meanwhile, the 973,780 sq ft of office space delivered in 2017 represents a staggering increase of 75% on figures in 2016.

Simon Bedford continues: “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,”

“We’ve reached the point where Manchester should be judged by different criteria from other UK regional cities. Manchester is now in a different league, genuinely competing with other European and international cities.”

All of this bodes well for property investment in the city.