The results of Deloitte’s real Estate Crane Survey is surprising given the uncertainties surrounding Brexit.
On Tuesday, in a report accounting firm Deloitte disclosed, construction activities in four regional cities in Britain have touched a record high despite the uncertainty surrounding Brexit.
According to Deloitte’s Real Estate Crane Survey, which covered Belfast, Leeds, Manchester and Birmingham, there has been a sustained or even an increase in construction activity across sectors including student housing, offices, education, retail and hotels.
In Manchester, the survey recorded 78 sites under construction, more than the U.S. cities of Seattle, Los Angeles and Chicago as measured by Deloitte’s North American Crane Index.
“To have construction figures this healthy is somewhat of a surprise given a myriad of market uncertainties,” said Simon Bedford, regional partner and regional head of Deloitte Real Estate.
“Big businesses were looking to build support operations in regional cities while small and medium-sized regional businesses were continuing to grow”, said Bedford.