The UK property market remains an attractive option for investors due to its stability and long-term growth potential. In 2024, several cities across the country are standing out as prime locations for property investment, offering solid rental yields, capital appreciation and growing demand. Here are the top UK cities to consider for property investment this year.
Manchester
Manchester has been a property investment hotspot for several years, and its appeal continues to grow. Known for its economic diversity and robust job market, the city is experiencing rapid regeneration, particularly in areas such as Salford Quays and Spinningfields.
Manchester’s property prices are still relatively affordable compared to London, making it attractive to both domestic and international investors. Rental yields average between 5-7%, depending on the location, and with continued population growth, demand for rental properties remains strong. The luxury apartment market is booming in Manchester with buy-to-let property a popular option for investors.
Birmingham
As the UK’s second-largest city, Birmingham is experiencing a property boom driven by large-scale regeneration projects such as the Big City Plan and the HS2 rail project. These developments are transforming the city’s skyline and infrastructure, drawing in businesses, residents and investors.
Birmingham’s property prices have been steadily rising, but they remain lower than those in London, presenting good potential for capital growth. Investors can find properties with rental yields of 4-6%, particularly in emerging districts like Digbeth and Jewellery Quarter. The city’s growing young professional population also ensures a consistent demand for rental properties.
Liverpool
Liverpool is another northern city seeing strong property investment potential. With its rich cultural heritage, regeneration projects like the Liverpool Waters scheme, and a thriving student population, the city offers promising opportunities for investors.
Property prices in Liverpool are some of the most affordable in the UK’s major cities, with the potential for impressive rental yields, often reaching 7-8% in key areas. Neighbourhoods such as the Baltic Triangle and Ropewalks have become highly desirable, attracting young professionals and students alike.
Leeds
Leeds has emerged as a northern powerhouse thanks to its thriving business sector and significant infrastructure investments. The city boasts one of the fastest-growing economies in the UK and a strong demand for housing.
Property prices in Leeds have been rising steadily, but there are still opportunities for investors, especially in upcoming areas like South Bank and Holbeck Urban Village. Rental yields in Leeds can range from 4-6%, making it a solid choice for both short-term and long-term investment.
Glasgow
Scotland’s largest city, Glasgow, has become increasingly popular with property investors. The city offers a unique blend of affordable housing, strong rental demand and good prospects for capital growth.
Glasgow’s rental yields can reach between 5-7%, depending on the area. Neighbourhoods like Finnieston and the West End are particularly desirable, with regeneration projects and a burgeoning creative sector adding to their appeal.
Nottingham
Nottingham has earned a reputation as one of the top cities for buy-to-let investments. With a large student population and a strong local economy, the city offers excellent rental demand.
Investors can expect rental yields of around 5-6%, with areas like Lenton and Beeston providing solid returns. Nottingham’s property prices are still relatively affordable, offering good potential for both yield and capital growth.
