UK CITIES RECOVERY INDEX

Cardiff

Updated: 3rd September

UK CITIES RECOVERY INDEX

Index + DART for Cardiff

Overview

The Recovery Index for Cardiff has largely remained below the National figure throughout the course of the pandemic aside from in November 2020 when the Welsh ‘firebreak’ lockdown was released, causing a brief acceleration in the Cardiff Recovery Index just as English restrictions came into effect.

Following the considerable increases observed subsequent to the 12th April and 17th May restriction relaxations, the pace of recovery has slowed. The Index has been flat over the past two months and read 89.2 on 31st August.

UK CITIES RECOVERY INDEX

Sector Indices + DART for Cardiff

Cardiff Sector Indices

Commercial Activity

  • The Commercial Activity Sector Index for Cardiff Has remained steady over the past two months and now reads 95.3. This follows slow and steady growth since the introduction of the third national lockdown at the beginning of 2021.

Hotel & Leisure

  • Despite having fallen to 83.9 on the 16th August, the Hotel & Leisure Sector Index for Cardiff has since increased 14% to read 95.6 on 31st August. This follow the recent bank holiday weekend and an increase in demand as school summer holidays draw to a close.

Mobility

  • Following achieving a new recovery peak of 96.3 on 4th June, the Mobility Sector Index subsequently declined slightly then rose again to read 96.0 on 31st August.

Residential

  • The Residential Sector Index for Cardiff has slowed from its turbulent growth observed in the first months of 2021 as it recovered from the downturn caused by the third national restrictions.
  • In the past month, the Sector Index has grown slightly to read 125.9, well in excess of the pre-pandemic baseline of 100.0.

Retail

  • Footfall numbers in Cardiff had been slower to recover relative to other UK cities due to the prolonged restrictions on movement and activity in Wales. Whilst footfall levels did recover somewhat during the summer months, similar to other cities in the UK, they were on a downward trajectory from early September to the beginning of October.
  • Although footfall and the rest of the Retail Sector Index gained significant upward momentum following the relaxations of restrictions in April and May, the Sector Index then entered a slow decline. Of late though it has increased slightly and now stands at 89.5 as of 31st August.

Return To Office

  • The Return To Office Sector Index for Cardiff now stands at 49.1 following steady growth since 9th April. This remains below the National figure of 59.6 nonetheless.

UK CITIES RECOVERY INDEX

National Sector Indices + DART for Cardiff

A VIEW FROM CARDIFF

Peter Constantine

Managing Director

“Cardiff, the youngest capital city in Europe, has been transformed from its post-war industrial past to a vibrant modern city with an economy centred around its administrative role and a very strong academic centre boasting three universities. The thriving hospitality sector is centred around the Cardiff Bay waterfront development and the city centre, dominated by the Principality Stadium, which provides for many, the best rugby stadium in the world, generating huge economic benefits for the city.

These are challenging times and the city needs to ensure it maintains the quality of life which has attracted many businesses and people to relocate here and continues to deliver sustainable development opportunities that will enable the city to evolve and grow. The South Wales Metro will be a key strategic development which should unlock the potential of the City and the wider region.”

This index has been prepared by Avison Young for general information purposes only. Whilst Avison Young endeavours to ensure that the information in this index is correct it does not warrant completeness or accuracy. You should not rely on it without seeking professional advice. Avison Young assumes no responsibility for errors or omissions in this publication or other documents which are referenced by or linked to this index. To the maximum extent permitted by law and without limitation Avison Young excludes all representations, warranties and conditions relating to this report and the use of this index. All intellectual property rights are reserved and prior written permission is required from Avison Young to reproduce material contained in this index.