According to the latest Market Insight report from construction data gatherer Barbour ABI, £621m pounds worth of property development was commissioned in the northwest region the third quarter, with £608m of it from the private sector. A total of 5,275 new houses or flats were started.
Major projects commissioned in Manchester included two £40m projects, the New Union Street and Axis Tower developments, constructing 302 and 172 apartments respectively.
Six of the top ten largest residential projects commissioned in the region in Q3 were private developments for flats.
Barbour ABI lead economist Michael Dall said: “If there’s one concern coming from these latest figures it is from a social housing perspective. Only 10 of the 87 projects came from the public sector in Q3. However, it’s likely that affordable housing will be provided within many of the up-coming private residential developments.”
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