Home to the iconic Principality Stadium and the National Assembly for Wales, Cardiff punches above its weight in so many ways.

It is the sixth biggest retail centre in the UK and attracts over 20 million visitors a year, bringing £1 billion to the local economy. The population is expected to grow 25 per cent by 2034 – faster than all the other UK Core Cities – and it is forecast to outpace national employment growth.

Now, to unlock the full potential of the Welsh capital it must deliver on the long-held vision of bringing the commercial centre and Cardiff Bay together, through improved transport links such as the Metro and the creation of major new mixed-use schemes.

One of the biggest challenges the city faces is that there hasn’t been enough new housing and commercial development to meet demand. Delivery of new homes has slowed over the last five years with an average of 490 a year, well shy of the Local Plan target of 2,071. If this continues, the shortfall could lead to rising prices threatening the affordability which is currently such a strength.

Our new cross sector research report, Cardiff: Connecting the City, highlights the significance of residential development for future success. Cardiff has a high proportion of 20- to 35-year-olds compared with the UK average but, despite this, it hasn’t seen the resurgence of city centre living so popular with urban millennials elsewhere in Britain. 

Schemes combining housing, leisure and retail will help create sought-after neighbourhoods for those looking for a 24-hour city, and will have a key part to play in providing the right blend of working environment, infrastructure and public amenity imperative for a vibrant economy.

Encouragingly, there are plans for major residential development, including more than 2,000 units to be delivered through Vastint’s regeneration of former industrial land at Dumballs Road. This will be significant in helping to create that all-important connectivity between the city centre and the bay.

Further information

Contact Savills Cardiff