In its latest quarterly update, Davis Langdon said the building boom along the M62 corridor and beyond was coming to an end with work in major cities such as Manchester, Liverpool and Leeds expected to dry up in the next few years, with Leeds to be hit the quickest.

Langdon warns that most cities outside the capital would be hit by a softening market in the coming two to three years, especially after large projects like Liverpool One have been completed - leaving a big hole in the market.

London is best set to weather the problems, with huge schemes such as the 2012 Olympic Games and a series of extensive tunnelling jobs such as Crossrail.