23/2/2023

Deloitte crane survey - Birmingham

If development activity is a key indicator of the health of a city's economy, Birmingham is booming. So much so that Deloitte subtitled their report "A Time to be Bullish".

The Commonwealth Games was an enormous success for Birmingham, welcoming 5 million visitors and showcasing the city to a worldwide audience. The Games is estimated to have benefitted the West Midlands economy to the tune of £450 million and kickstarted what Deloitte describe as a 'Golden Decade' of opportunity.

Despite the economic headwinds, Birmingham is proving its resilience, with new developments on a par with the previous year. Of the 18 new projects to break ground in the central districts, 13 were in the residential sector. The area now has 43 schemes under construction, 33 of which are residential, delivering 6.500 new homes over the next three years. The development pipeline is strong, with another 7,000 homes which have already been granted planning permission or are currently going through the process.

The two areas seeing the highest levels of residential development are Digbeth and the historic Jewellery Quarter, followed by the central core, Gun Quarter, Southside and Westside.

Business confidence is strong. The BBC recently committed to the region with a new purpose built broadcast facility in Digbeth and Goldman Sachs have just taken 110,000 square feet in the central business district. Many other lesser profile organisations are also setting up offices in Birmingham, such as the the National Audit Office bringing 400 civil servants to the city centre.

According to Juliet Halfhead, senior partner at Deloitte -

"2022 has been a phenomenal year for the city. It is time to be bold and bullish about the future. Development confidence is a key indicator for economic health, and despite economic headwinds and market uncertainties over the last few years, construction in the city has remained resilient.

"Although new schemes breaking ground in 2022 remained on a par with 2021, the levels of under construction activity is up by a third, signalling three years of growth. This positive outlook is echoed across both the office and residential market."

Deloitte's full report can be found at

Birmingham Crane Survey 2023