Sheffield, Manchester, Glasgow are top UK spots for property investment outside London, research shows

The Steel City came third in the list behind only Glasgow and Manchester, whilst trampling tenth-placed Leeds. The research, conducted by Redmayne Smith, compares the average rental yield, house prices, rental and price growth, and transport links for each city.

Gordon Dutfield, CEO at Redmayne Smith, said: “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.”

Having compiled data from Hometrack and Zoopla reports, the study placed Sheffield behind Manchester and Glasgow because it had lower annual growth and poorer transport links. However, Redmayne Smith did suggest Sheffield was certainly a top investment area due to the “relatively affordable” house prices.

The lower house prices are said to make Sheffield attractive to investors who want to “maximise their budget”.

The study scored each city one to 10 depending on the data for their rental yield, annual growth and the quality of the transport links. A score of 10 would mean that city had the best data in a category.

Sheffield’s score of eight for the rental yield placed it firmly in the top UK cities, with an identical score to Manchester’s. Manchester scored 10 out of 10 for both annual growth and transport links, giving it a total score of 28, equal to Glasgow.

Sheffield score 21 overall, whilst the only other Yorkshire city to make the list, Leeds, scored just 16.