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Manchester new build rate slows

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The number of new homes built in Manchester city centre this year will fall by 2,020, a report has claimed

No more than 30 new residential properties will be complete at the end of the year – down from 2,050 in 2009, according to Drivers Jonas Deloitte’s annual Manchester Crane Survey.

The figures come despite sales gradually increasing in 2010’s first quarter.

Meanwhile, just four new Manchester offices are scheduled for completion – less than half the number finished 12 months ago.

Nevertheless, the availability of office stock remains high, the survey claimed, prompting suggestions that rental prices could fall in the near future.

The consultancy hopes a combination of HCA funding for two stalled housing projects, and private sector initiatives in life sciences and bio-medical research, could stimulate growth over the next 12 months.

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