A leading property investment expert has shared the best cities in the UK to invest in property outside of the capital. Redmayne Smith, leading property investment experts in the UK, has shared the latest research on the best cities in the UK to invest. The property experts compiled data from official Hometrack and Zoopla reports which revealed that both Glasgow and Manchester were the best UK cities to invest in outside of London, scoring 28 out of a possible 30.
Glasgow came out on top when it came to rental yield with 6.8 percent, giving them a perfect score of 10.
The Scottish city also came out on top when it came to both annual property value percentage increase (14.1 percent) and transport links.
Manchester also took the top spot, receiving a score of 28 out of 30 with high scores across all three categories.
The city scored particularly highly when it came to annual property value percentage increase (15.6 percent) and transport links.
While the rental yield for Manchester came out slightly lower than that of Glasgow, at a rate of 5.1 percent, the city’s property market is in high demand and has a growing population which is potentially attractive to investors.
Sheffield, Bristol and Edinburgh completed the top five with rental yield scores ranging from five to eight percent and annual growth percentages from seven to eight percent.
All three cities offer competitive returns on investment which is an attractive proposition for investors.
Furthermore, Sheffield’s average house prices are affordable compared to other regions in the UK which means buying a property to then turn into a rental won’t cost the earth.
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Bristol and Edinburgh topped the list for house prices, suggesting they would be more appropriate for investors looking to benefit from regions with less risk of market downturn and higher rental prices.
Birmingham and Nottingham received modest scores, both totalling 19 out of a possible 30.
The cities also scored well in terms of rental yield, scoring six and eight respectively out of 10.
Both areas also offer affordable house prices and potential for future growth making them a good option for investors.
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The cities are also currently in the middle of significant regeneration projects which could attract more people and businesses to the areas.
Liverpool, Cardiff, and Leeds completed the list scoring 18, 17, and 16 respectively.
Like the previous cities, Liverpool and Leeds scored well when it came to rental yield while Cardiff scored well in all three categories.
Top 10 UK cities to invest in outside of London:
Gordon Dutfield, CEO at Redmayne Smith said: “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 Glasgow and Manchester are currently 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 Glasgow and Manchester both undergoing significant investment and regeneration, we believe they offer the greatest potential.”
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