Glasgow has seen the biggest increase in the number of buy-to-let properties during the past year, closely followed by Nottingham, Leeds and Bristol whilst Edinburgh has slipped from first place to ninth, research from landlord insurer Simply Business reveals.

And despite seeing the least growth, London remains as the city with the most buy-to-let properties, with over 40,000 landlords purchasing cover for properties in the capital in 2023.

12% INCREASE

Glasgow saw a 12% increase in the number of buy-to-let properties in the city, whilst Nottingham and Leeds came in second and third respectively, both with an increase of over 8%.

London, whilst being home to over 40,000 buy-to-let properties, saw the smallest growth in the number of privately let properties.

Edinburgh, the city with the biggest growth in 2022, slipped to ninth place after seeing just over 5% increase.

Leicester experienced a similar drop; falling from second to fifth place in the last 12 months. Meanwhile, Leeds’ position skyrocketed to third place in 2023, after failing to even make the top five places last year.

Despite the current climate, many landlords still consider rental property to be a worthwhile investment, with half (50%) saying that they would recommend investing in buy-to-let property.

ATTRACTIVE SPOT

Alan Thomas (main picture), UK Chief Executive at Simply Business, says: “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.”

He adds: “Insuring more than 450,000 landlords allows us to gain first-hand insight into the integral role they play in the housing market, plus the challenges they’re facing.

“It’s important that landlords are given the time and information they need to prepare for significant upheaval in the coming years, so they can continue to provide much-needed housing for almost five million households nationwide.”

TOP 10 CITIES FOR BUY-TO-LET IN 2023

1: Glasgow

2: Nottingham

3: Leeds

4: Bristol

5: Leicester

6: Manchester

7: Birmingham

8: Liverpool

9: Edinburgh

10: London