Sheffield named as one of country's best locations for property investments
New research by property investment firm Redmayne Smith based on analysing Hometrack and Zoopla data puts the Steel City as the joint third best place in the UK to invest in, behind only Manchester and Glasgow and tied with Bristol and Edinburgh.
Leeds is ranked tenth on the list.
Metrics analysed to compile the list were rental yield, annual property value percentage increase and transport links.
Sheffield had the same rental yield score as Manchester but was slightly behind on annual property price growth and the availability of transport connections.
Gordon Dutfield, CEO at Redmayne Smith, said Sheffield has much going in its favour for those considering property investments.
He said that the chosen metrics offer a good insight into the potential of different city property markets.
“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 Sheffield offers a good investment opportunity with great rental yields, good annual property value increases, and improved 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.”
Bristol, and Edinburgh completed the top five coming in joint third with Sheffield.
Liverpool and Cardiff were also on the list of the ten-best performing cities for property investment.