The Scottish capital has come second, behind Cambridge and in the top three for the fourth time in a row, followed by Glasgow in third place, entering the top five for the first time, in commercial property firm Colliers’ latest Top UK Residential Investment Cities report covering the second half of 2022.
The report examines 20 cities, with the remainder of the list comprising, in order, Oxford, London, Manchester, Belfast, Leeds, York, and Bristol in tenth place, examining five key factors – environmental, economics, property, liveability, and research and development.
The Scottish capital moves from first to second place, which Colliers said is mainly attributable to a less favourable economic outlook, a slight rise in income inequality, and a deterioration in life satisfaction since its last report. The city ranks in the top five of nine indicators, seen as continuing to benefit from a diverse economy, large population, highly skilled workforce, high volume of leisure attractions, positive house price growth, low unemployment, and good environmental, social, and governance credentials.
Glasgow’s high ranking was attributed to its fast house price growth, with the average price for a flat in Scotland’s largest city enjoying a 35 per cent increase in the five years to October 2022, higher than any other city analysed, while it has seen improvements in indicators such as employment prospects, income inequality, business-creation, and broadband connectivity.
Oliver Kolodseike, head of economic research at Colliers said: “It’s great to see two Scottish cities in the top three across the UK.”