Development activity in Edinburgh defied expectations in 2009, showing only a modest reduction, according to the latest figures published by the Council.

In its second annual Development Activity Bulletin, the Planning Service summarises the amount of development being progressed through planning applications or recently completed in Edinburgh, expressed in terms of market value.

The latest figures, covering larger developments across six main property sectors – housing, offices, industry, retail, hotels and leisure - reveal that the value of development fell by 8% between 2008 and 2009, from £10.9 billion to £10.0 billion, reflecting partly a slowdown in activity and partly a reduction in property values.

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Edinburgh planning convener, Cllr Jim Lowrie, said: “Given the recent difficulties faced by developers and investors across the UK, we consider this to be a relatively modest reduction, and a sign of Edinburgh’s underlying strengths and economic resilience.

“The Development Activity Bulletin confirms that ample planning consents are in place in most sectors to support the revitalisation of the city’s economy as soon as market conditions allow.”

The overall reduction masks divergent trends for applications at different stages in the planning process, with the value of recent completions and consented planning applications both higher in 2009 than in 2008.

(GK/KMcA)