OUTLOOK
Cardiff
As the capital city of Wales, Cardiff continues to be the economic and development focal point for the Principality.
Since the decline of the coal industry and latterly the significant slowdown in heavy industry, Cardiff has pivoted towards a service orientated economy. As such, the city now has a very strong finance, legal and professional services employee base, with the creative industries continuing to increase their influence on the employment base of the city. The education sector and local/national government provide significant stimulus and employment within the city.
Economy
Gross Value Added (GVA) is forecast to grow 7.2% in Cardiff by 2028, outperforming the wider UK where growth of 6.9% is predicted.
Offices
Cardiff has good foundations for investment opportunities, with strong graduate retention and a thriving TMT and Creative sector. Whilst its office market is smaller than many other regional cities, it is also more affordable.
Retail
Cardiff has a strong retail offer, with footfall continuing to recover post-pandemic. It is the largest retail centre in Wales and offers a strong retail provision, both in the city-centre, and out-of-town.
Industrial
There is a shortage of quality available space and Big-Box development and leasing activity has concentrated around Newport and Magor.
Residential
Cardiff's residential development priorities are changing from large greenfield sites, to a new focus on the city center. This shift aligns with a more sustainable vision for housing delivery.
Sign up below to access the Cardiff Outlook
For more information, please contact:
