Belfast enters into top five UK cities for residential investment

Northern Ireland’s capital climbed two places in Colliers’ analysis for H2 2021

Affordable property prices, strong rental yields and a high percentage of renters has seen Belfast enter the top five ranking of Colliers’ Top UK Residential Investment Cities report.

Northern Ireland’s capital has seen improvements in the GDP and employment rankings since the commercial property firms last report in H1 2021.

“We’re witnessing a fair amount of relocations to Belfast from other UK Cities, particularly in the middle to upper house band sector,” said Jonathan Millar, Colliers Managing Director in Belfast. “With an excellent primary and secondary school education, as well close proximity to beaches and rolling hills the city is attractive to those seeking a family life, but also with our compact city centre, there’s also great access to a vibrant nightlife, with independent restaurants and bars which residents favour.”

Colliers’ report examines 20 indicators across four pillars of economics, property, education and liveability. Factors where the city could improve include wage levels, income inequality and a small pool of talent, however unemployment rates in the city are predicted to average at just 2.8 per cent until 2030.

Jonathan added: “We’re expecting to see the further expansion and growth in the already well established employment sectors of cybersecurity , fintech and legal services.  As a city with numerous positive lifestyle credits, it is on the cusp of significant growth.”

Oliver Kolodseike, author of the report, said: “During the last six months there has been a fair amount of movement among the cities in our ranking, and previously we could already see that Belfast would rise up the ranks. The city’s advantages lie in the liveability and property pillars and there are signs that it is also improving across the economics pillar.”

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Colliers’ top ten cities for investment in H2 2021 are:

1. Edinburgh (up one place)
2. Cambridge (down one place)
3. London (up one place)
4. Oxford (up nine places)
5. Belfast (up two places)
6. Manchester (down one place)
7. Bristol (down four places)
8. Glasgow (up three places)
9. Milton Keynes (up one place)
10. Reading (down two places)

Colliers considered 20 indicators, within four categories as part of its analysis. These were: