Redmayne Smith, the UK’s leading property investment experts, seek to help investors navigate the competitive property market with new data-led insights on the best regions for property investment in the UK – with Manchester coming out on top.
Data compiled from official Hometrack and Zoopla reports reveals both Manchester and Glasgow as the best UK cities to invest in outside of London – scoring 28 out of a possible 30.
Manchester took one of the top spots, receiving a score of 28 with high marks across all three metrics, particularly in annual property value percentage increase (15.6%) and transport links.
Whilst the rental yield for Manchester came out slightly lower than that of Glasgow, at a rate of 5.1%, the property market in the city continued to demonstrate high demand and a growing population, pointing towards an attractive rental market. Not only that but Manchester is the home of Media City, has presence of 80 of the FTSE 100 companies and two premiership football teams which makes it an attractive place for investors looking to attract high-net worth individuals to rent their properties.
Top 10 UK cities to invest in outside of London:
Sheffield, Bristol, and Edinburgh completed the top five, with rental yield scores ranging from five to eight and annual growth percentages from seven to eight, with these cities all offering competitive returns on investment.
Birmingham and Nottingham received modest scores, both totaling 19. These cities scored well in terms of rental yield, with scores of six and eight respectively, and offer relatively affordable average house prices with strong potential for future growth.
Liverpool, Cardiff, and Leeds rounded out the list, scoring 18, 17, and 16 respectively. Liverpool scored particularly well in rental yield and transport links, the Welsh capital scored moderately in all three metrics, whilst Leeds scored high in rental yield.
Gordon Dutfield, CEO at Redmayne Smith, commented: “Rental yield and annual property value percentage increase are key indicators of the potential for strong returns on investment, while transport links are crucial in attracting tenants and maintaining demand. We believe these three factors offer the most accurate picture of a region’s investment potential and are the most important things for investors to consider when selecting where to invest in the UK property market. By focusing on these key metrics, we can identify regions that offer the best opportunities for long-term growth and profitability, and help our clients achieve their investment goals.
“Our latest research clearly shows that Manchester is currently one of the best regions to invest in, with excellent rental yields, high annual property value increases, and great transport links. As we emerge from the pandemic, investors are increasingly looking for opportunities in major UK cities, where the potential for growth and returns is high. With Manchester undergoing significant investment and regeneration, we believe it offers the greatest potential. Personally, Manchester is the place I believe to be one of the best places to invest and this is where I’m focusing my time at the moment – investing in key areas in the city where I’ll see the most return.”
Looking to begin your property investment journey? Redmayne Smith delivers innovative opportunities to their global client base to help you secure the right investment opportunity for you. Visit www.redmaynesmith.co.uk for more information.
