Tuesday, 31 January 2017

Manchester Home Building Is At Highest Level Since 2008


Accountancy firm Deloitte's Manchester Crane Survey said 22 schemes had started construction, eight more than the previous high of 14 in 2008.

It said dozens of high-rise apartment buildings were set to change the city's skyline over the next few years.

Simon Bedford from Deloitte said the work reflected the city's "resurgence".

The annual crane survey reported 6,963 residential units were currently under construction, compared with last year's 2,982.

Mr Bedford, head of Deloitte Real Estate in the North West, said: "Construction activity has not just matched 2007, it has completely blown those figures out of the water, demonstrating unparalleled scale and volume of development."

Greater Manchester has a £300m housing scheme to loan funds to developers.

The incoming chief executive of the Greater Manchester Combined Authority, Eamonn Boylan, said the bulk of the fund was being used in the city centre "because that is where the market demand is".

"We are not simply producing luxury apartments - many of the apartments in the city centre are being bought by young professionals who are sharing those apartments and effectively creating their own affordable housing."



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