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UK’s Top Buy-to-Let Hotspots Revealed with Glasgow Leading the Way

Insurance firm Simply Business has unveiled a new league table identifying the UK’s top city hotspots for buy-to-let growth, based on an analysis of over 100,000 landlord insurance policies. The findings show Glasgow at the forefront with a notable 12% increase in buy-to-let properties, while Nottingham and Leeds followed closely with over 8% growth each. London, despite its vast portfolio of over 40,000 buy-to-let properties, experienced the least growth among the cities evaluated by the insurer.

The 2023 ranking for the top 10 cities in the buy-to-let sector, according to insurance policy data, is as follows:

  1. Glasgow
  2. Nottingham
  3. Leeds
  4. Bristol
  5. Leicester
  6. Manchester
  7. Birmingham
  8. Liverpool
  9. Edinburgh
  10. London

Edinburgh, which led the growth chart in 2022, has now dropped to ninth place, while Leicester also saw a decrease in its ranking. Leeds made a significant leap to third place this year, a notable rise from its position outside the top five in the previous year.

London, though it holds the record for the highest number of private rental properties, contributing to 40% of the policies handled through the broker in 2023, has shown a marked slowdown in growth. With an increase of just 4%, compared to 21% in 2022, there’s an implication that landlords might be shifting their focus away from the capital for property investments.

A spokesperson for Simply Business commented on the trend: “It’s heartening to see continued growth in the buy-to-let sector, with our data demonstrating that Glasgow is becoming an attractive spot for landlords to invest. Landlords provide housing to over five million households nationwide, but a combination of economic uncertainty, changing regulations, and rising costs meant there was no shortage of challenges facing the nation’s landlords in 2023.”