The best city in the UK to make a residential investment has been revealed, and it’s the same for the third year running.
Real estate agent Colliers’ compared 20 UK cities for factors important to investors, including the economy, research and development, liveability, property and sustainability.
Scotland came out on top, with Edinburgh taking pole position and Glasgow coming in a close second in Colliers’ Top UK Residential Investment Cities report.
Head of UK Residential at Colliers Andrew White said: “The Scottish cities are continuing to top our ranking, most likely due to the affordability and strong economic qualities of the region, as well as the quality of life indicators we consider.”
Oliver Kolodseike, a director in Colliers Research and Economics team which compiled the report, commented on upcoming changes in Reeves’ budget, which may impact the housing market.
He said Labour Government had not yet positively or negatively disturbed the housing market, but “with changes to stamp duty levels coming into effect in March – the same may not be said of our next analysis”.
From 1 April 2025, the Stamp Duty Land Tax threshold will decrease to £125,000, previously set at £250,000, and 5% extra is usually added to SDLT rates when buying an additional property.
According to the biannual report, Manchester came in third and London fourth, a result that Mr White attributes to the mix of professionals, service workers and students, along with a strong multinational business presence for employment opportunities.
Oxford fell four places to ninth, due to an increase in income inequality and a decline in the number of new businesses, placing it below Milton Keynes.
The report looks at 24 indicators, such as GDP, population growth, EPC rankings and leisure facilities.