A survey published this month has concluded that Salford is experiencing a “positive” boom in local regeneration plans.
The latest Manchester Crane survey, which measures the volume of development taking place across Salford and Manchester, concluded that Salford has experienced a “record year” for growth.
Residential projects on site in 2023 accounted for much of the “positivity” in the report. According to the report Salford has experienced a record year, with over 3000 new homes under construction across eight schemes in the Salford Central area of the city.
There were also 924 completions across three key schemes including Cortland at Colliers Yard, Regent Plaza and Dock 5. Further developments that were noted include The Railings, Bankside and Pavilion Wharf, as well as Greenhaus.
Deloitte, the international professional services company compile the annual report. The report measures the amount of development projects taking place across both cities and their impact.
The report states: “Manchester and Salford have witnessed a remarkable period of growth over the past decade, with a significant focus on strategic regeneration areas and underutilised sites away from the City Core. Many parts of our Crane Survey area are unrecognisable from even 10 years ago, such has been the pace of change.
“New neighbourhoods have emerged which offer a variety of exciting and distinctive new destinations that continue to support the popularity of the city as a place to live, work, visit, and spend leisure time.”
The figures make Salford the most active segment of the central area residential marketplace. The 2023 statistics further swell the overall homes figures for Salford Central over the last decade. This area of the city has seen 16000 new homes completed over the period 2014-2023, an indication of the council and development partners responding to an increasing population over recent years.
Salford City Mayor Paul Dennett said: “This year’s report highlights again more positivity for the city and further proof of our strategy for growth and regeneration in action. We’re creating desirable opportunities for developers and ultimately for businesses and local residents in the city.
“The findings follow on from the 2023 report, and the evidence is here that we are responding to the needs of the market and delivering with real tangible outcomes across the sector.
“Residential growth is up, but as the report outlines, diversity across housing options is still required in this area, and this is something I am fully committed to achieving. As our population grows and with an increased desire to live and work in the city, we do need to create more affordable homes across all parts of the sector and ensure they form part of sustainable neighbourhoods.”
The report, however, is set against a backdrop of the current economic and political climate. The council stated that “there’s uncertainty in this pre-general election and post-HS2 cancellation period.”
The council further stated that the sector is “grappling with high inflation costs, coupled with rising interest rates and high credit costs.”
Featured image credit: Middlewood Locks