Simply Business, an insurance firm, has identified Glasgow as the UK city seeing the most significant increase in buy-to-let properties over the past year. According to the analysis of more than 100,000 landlord insurance policies, Nottingham, Leeds, and Bristol are close behind.
An increase in buy-to-let properties in an area suggests a higher demand for investment opportunities, with developers identifying potential hotspots that will appeal to tenants and buyers.
Glasgow witnessed a 12% surge in buy-to-let properties, while Nottingham and Leeds recorded increases of over 8%. In contrast, despite hosting over 40,000 buy-to-let properties, London demonstrated the smallest growth among these cities.
Based on insurance policy data, the top 10 cities for buy-to-let properties in 2023 are as follows:
Edinburgh, which experienced the most significant growth in 2022, slipped to ninth place this year, and Leicester also witnessed a comparable decline. Meanwhile, Leeds surged to third in 2023, a notable rise from its placement outside the top five last year.
London continues to dominate in terms of the total number of private rental properties available, constituting 40% of policies provided through the broker in 2023. However, the capital’s growth has slowed significantly, with only a 4% increase compared to the 21% observed in 2022. This suggests landlords may turn their attention away from the capital for their property investments, especially if they have one eye on their buy-to-let fees.
Read More: Stay informed with the latest buy-to-let insights with some of our in-depth articles, including our guides on Manchester new-build flats and how to make money in property.