The JLL Big Six Residential Development Report compares activity, prices, and rents across six UK cities: Birmingham, Bristol, Edinburgh, Glasgow, Leeds and Manchester. This report incorporates data from the JLL UK Cities index, comparing changes in prices and rents across mainstream and prime developments in each city.
New build apartment prices across the six cities rose 2.2% annually in the first half of 2026, while rental growth moderated to 1.8%. The market is characterised by underlying demand, tightening rental supply and ongoing development viability challenges.
Across the lettings market, demand has strengthened as reduced stock levels and heightened activity reshape market dynamics. However, stronger tenant demand has not translated into significant rental growth in most markets, with increased activity largely absorbing existing stock rather than driving rents higher.
Development viability remains the sector’s biggest challenge, as higher financing costs, build cost inflation and regulatory requirements continue to constrain new housing delivery across all markets. Even in Scotland, where the absence of regulation has attracted investors back to the market, developers are still struggling to get schemes to stack up.
