The Scottish capital kept its position from the earlier report at the end of 2023
Manchester has surpassed London as the top city in England for property investment, while demand in Scotland’s biggest cities remained particularly strong.
Real estate firm Colliers’ latest UK residential investment cities report for the first half of 2024 found that Edinburgh was the top city for those investing in properties across the UK.
The Scottish capital kept its position from the earlier report at the end of 2023.
Meanwhile, Glasgow was named the second-ranking city again amid strong property valuations.
Manchester finished third in the rankings, with an improvement helping to mark it as the strongest city in the England, as per the report, which analyses cities within the UK against 24 indicators, including gross domestic product, population growth, and leisure facilities.
Colliers said the city has been boosted by a strong recent economic performance and favourable property backdrop.
The city has had a record house price growth of 33% during the past five years, far surpassing the report’s 20-city average of 15%.
Andrew White, head of UK residential and international properties at Colliers, said: Manchester has gone through a significant transformation including redevelopment in recent years across the housing tenure mix, so it is only natural that it would rank highly in our analysis.
Additionally, we have witnessed lots of large corporations and government bodies moving their headquarters to the city in the past five years, such as, JP Morgan, Octopus Energy and Rolls Royce, which has naturally resulted in higher demand for homes, and supported significant house price growth in the city.
Moreover, Manchester’s economic and residential growth highlights the need for strategic expansion to meet housing demand.
