Buy to let lender Aldermore has named Bristol, as the best city for landlords to invest in for 2024. Manchester, Coventry, Brighton and London make up the rest of the top five.

The firm analysed five key indicators that impact buy to let desirability: average total rent, the best short-term returns through yield, long-term return through house price growth over the past decade, the lowest number of vacancies as a proportion of total housing stock, and the percentage of the city population in the rental market.

With good rental prospects, a high proportion of long-term private renters available and low number of properties currently vacant, Bristol jumped to the top of the leaderboard this year. Growth on returns is also an attractive lure for landlords with an annual increase of 6.6%. However, investing in Bristol isn’t for landlords seeking high monthly profits as rental yields are only 4.4%.

Manchester dropped one place this year from the top spot, although the average rent per room is lower at £461, and the vacancy rate is lower at just 0.9% compared to the national average of 1.2%, long term returns are very appealing for landlords at 6.1% with a healthy market of tenants available.