Bristol is the best city in the UK for buy to let investment, according to Aldermore.

The bank looked at average rents, yields, house price growth, vacancies as a proportion of total housing stock, and the percentage of the city population in the rental market to determine the best places for landlords to rent out a property.

Bristol came in top due to the long-term growth of property values in the area, and it has the lowest number of long-term property vacancies out of all 50 cities (at only 0.6% this year).

It also has more than a quarter (27%) of residents estimated to be privately renting, creating a large and healthy market.

The city was followed by Oxford and Cambridge in second and third place, with Manchester and Luton completing the top five.

At the other end of the scale, Swansea, Newport and Sunderland are ranked the least attractive of the UK major cities for buy to let investment.

The top 10 cities for landlords are:

1. Bristol
2. Oxford
3. Cambridge
4. Manchester
5. Luton
6. London
7. Northampton
8. Brighton
9. Reading
10. Norwich

Jon Cooper, head of mortgage distribution at Aldermore said: “Private landlords are a central part of the housing market, supporting over 4.5 million households in the UK and, as we emerge from the pandemic, landlords will need to meet the emerging demand for choice and variety from renters.

“With the economy opening up and EPC rating changes coming in 2025, now is a great time for landlords to talk with their broker to review where they want to take their portfolios in the future.”