Research carried out by PwC and think-tank Urban Land Institute has revealed that Manchester is the number one property investment hotspot in the UK, ranking above both Edinburgh and London.

The report –  ‘2018 Emerging Trends in Real Estate Europe’ – found that Manchester, often viewed as the UK’s second city after London, finished in 20th place in the list of the best investment locations for 2018. Birmingham was just behind in 21st place. The Scottish capital Edinburgh, meanwhile, was in 26th place, while London had to settle for 27th spot.

The research, which analyses the overall investment prospects for 2018 of major cities in Europe, is based on the viewpoints of over 800 real estate professionals. This includes lenders, agents, consultants, developers and investors.

Regional cities, which offer lower house prices and similarly high tenant demand, are at the moment offering more to investors than the capital. In the long-term, though, the ongoing uncertainty over Brexit is continuing to have an impact on property markets across the UK, the report concluded.