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Research

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Leeds Crane Survey 2025

Navigating challenge

In another challenging year of uncertainties and change, Leeds City Centre is demonstrating resilience. Significant progress is being made in creating an inclusive, liveable and connected city centre, that is also fostering innovation. Effectively communicating the unique strengths and opportunities Leeds has to offer is becoming increasingly important in articulating a clear vision for sustainable and inclusive growth.

Leeds continues to demonstrate its resilience and ambition even amidst a challenging economic backdrop. The latest Crane survey figures reflect the city’s ongoing commitment to inclusive and sustainable growth, with significant development and investment happening across the city.

Councillor James Lewis, leader of Leeds City Council

Key findings

The 2025 Leeds Crane Survey reveals a tale of two sectors, with residential development thriving amidst a broader recalibration in the city's construction landscape. While 11 new projects commenced construction in 2024 across all sectors, marking a third consecutive year of decline and the lowest number since 2013, residential activity remains robust. This is highlighted by the five new residential schemes launched, matching the Crane Survey average of 5.5, and the record-breaking number of residential units predicted for completion in 2025 and 2026. This sustained momentum underscores Leeds's attractiveness as a hub for city centre living.

However, the dynamism in residential contrasts sharply with other sectors, in which new construction starts have slowed. Of the 11 new projects underway, eight are dedicated to residential or student housing, with only two new office schemes breaking ground. This slowdown in office and other commercial development reflects a broader trend of economic uncertainty and evolving occupier needs, prompting a period of reflection and adjustment within the Leeds development market.

11 new schemes

on-site, below the Leeds Crane Survey average of 14

72% of new schemes

are residential or student residential

Two offices and one hotel

started construction

26 sites under construction

and 19 completions

Residential & Student Accommodation

Consistent delivery of approximately 1,500 homes which has remained so since 2022 after a steady increase in the 2010s.
4,185 units under construction, with 72% of these being build to rent.
Student accommodation remains a resilient sector, with 1,622 beds completed in 2024, reflecting continued demand driven by a large international student population and the appeal of purpose-built accommodation in central locations.
A healthy three new student residential schemes follows two bumper years of delivery, whilst new activity on five residential schemes keeps pace with the 5.5 Crane Survey average.

Office, Research and Education

100% of new office space currently under construction is located in the City Core and South Bank, with the latter solidifying its position as a major business destination, attracting businesses-seeking modern, sustainable developments.
While 2023 saw a notable amount of new education space delivered (197,462 sq ft), 2024 witnessed no completions or new starts. However, projects like the Leeds City College Mabgate Campus and the Arts University Extension, totalling 83,562 sq ft, remain under construction, indicating continued investment in the sector despite financial challenges.
Leeds saw only two new office developments start construction in 2024, below the five-year average of 2.8 new starts.

Retail, Leisure and Hotel

After minimal new space delivered in 2023 largely consisting of ground floor retail units, Leeds saw 82,103 sq ft of retail and leisure space completed in 2024, driven by projects like the new Flannels flagship store on Briggate, indicating a potential resurgence in the sector.
The completion of the Sovereign Square Hyatt Hotel in 2024, which added 331 new beds, marked a return to activity after no new hotel openings in 2022 and 2023. However, with a modest pipeline of 80 new rooms projected for completion in 2025, the sector's recovery appears cautious.
The success of experiential retail offerings like the Flannels store and pop-up events in City Square suggests a shift towards re-imagining retail spaces, focusing on quality and experience rather than simply increasing square footage.

Our thinking

Analysis 1

Building a resilient city brand: Leeds navigating uncertainty and embracing opportunity

Despite economic uncertainty impacting office development, Leeds demonstrates resilience through a growing innovation sector, attracting large institutions such as the Financial Conduct Authority (FCA), and fostering a thriving business ecosystem exemplified by the Innovation Arc.

Analysis 2

Liveability & connectivity: Cultivating a thriving city centre in Leeds

Strong residential development concentrated in the City Core and South Bank demonstrates Leeds's commitment to liveability and connectivity, creating a thriving, walkable, and well-connected urban environment.

Analysis 3

Delivering inclusive growth: Cultivating opportunity and equity in Leeds

Leeds's focus on inclusive growth is evident in its diverse housing, revitalised retail core, and significant education investment, aiming to create a welcoming destination for everyone, fostering a resilient and equitable urban environment.

Methodology

Why?

A report that measures the developments taking place across Leeds city centre and their impact. Property types include residential, office, hotel, retail and leisure, student accommodation, education and research facilities, and healthcare.

Where?

Our Crane Survey research area covers Leeds City Centre and its immediately adjacent areas.

What?

Developers building new schemes or undertaking significant refurbishments exceeding any of the following sizes:
office – 10,000 sq. ft.;
retail and leisure – 10,000 sq. ft.;
residential property – 25 units;
education, healthcare and research – 10,000 sq. ft.;
hotel – 35 rooms.

When?

Data for the Crane Survey was recorded between 3 January 2024 and 3 January 2025.

How?

The local Deloitte Infrastructure and Real Estate team has monitored construction activity and planning permissions granted, supplemented by rigorous field research. This research has been verified by industry contacts and in-house research teams.

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Leeds Crane Survey 2025