Manchester and Salford continue to demonstrate remarkable resilience in the face of economic headwinds, solidifying their position as a thriving hub in the UK. This enduring strength is evident in the cities’ diversified economy, commitment to social equity, and focus on sustainability. While the construction sector faces challenges, Manchester's skyline remains active with cranes, reflecting ongoing investment in its future.
This report explores these dynamics further across four key themes: the resilience of Manchester and Salford's economy; the commitment to inclusive growth, connecting residents to opportunity; the factors driving its success as a thriving city centre; and its strategic focus on innovation as a catalyst for continued prosperity.
Our survey’s findings demonstrate that despite ongoing pressures, Manchester’s construction sector remains active and is very well placed for further development, positioning the city as a leader outside the capital.
John Cooper, Partner, Infrastructure and Real Estate
Notwithstanding significant economic headwinds, 2024 saw 20 new construction projects break ground in Manchester and Salford. Whilst this does mark a third year of decreased starts, reaching the lowest point since 2014, overall activity remains strong and completions, with 27 projects delivered, represent a significant increase from the previous year.
The residential sector continues to drive momentum, with 11 new projects starting on-site and 16 completing construction. This sustained activity, particularly in the face of broader economic challenges, demonstrates ongoing confidence in Manchester and Salford's appeal as a place to live and invest.
Furthermore, the focus on refurbishment projects (representing five out of six new office schemes starting on-site in 2024) showcases a commitment to revitalising existing spaces and creating modern, sustainable work environments. This adaptable approach to development, combined with historical trends, suggests that Manchester and Salford continue to be extremely well-positioned for a stimulus of new construction activity in the coming years.
below the ten-year average of 28 and the lowest level of new activity since 2014
homes under construction, and set to be delivered over the next 4 years
of office space delivered to market, with over 1.5m sq. ft. under construction.
and 58 projects remain on-site in 2024.
Over successive Crane Surveys, Manchester and Salford have demonstrated remarkable resilience, weathering economic fluctuations and adapting to evolving landscapes. This success stems from a strategic focus on economic diversification, social equity, and environmental sustainability.
Manchester and Salford are committed to inclusive growth, ensuring all residents share in the city's economic prosperity. This involves a multifaceted approach, encompassing diverse housing options, an inclusive labour market, and equitable access to opportunity.
Manchester and Salford's vibrant 24/7 city centre culture, bolstered by strong transport links and a holistic development approach, is attracting residents and visitors, driving growth in population and the tourism and hospitality sectors.
Manchester and Salford are establishing themselves as leading innovation hubs by prioritising technology-driven growth, attracting tech businesses, and investing in a skilled workforce and smart city initiatives.