Best Emerging Property Markets in the UK in 2024

Emerging markets are locations undergoing redevelopment or forecasting sudden growth – making them ideal for long-term investment. An emerging market in the UK offers both capital growth and typically, competitive rents, because of the affordability it offers. Below, we explore the top emerging property markets in the UK in 2024.

Best Emerging UK Property Markets in 2024

Knowing the benefits of investing in emerging property markets and being able to identify these areas are two completely different things. At Joseph Mews, we look for certain characteristics in local property markets, and choose locations that can offer investors capital growth, competitive rents and strong tenant demand. 

In addition to these traits, we also measure emerging property markets based on:

Property Prices | Rental Yields | Tenant Demand | Regeneration | Career Opportunities | Transport Links | BTL Opportunities

Using these metrics, we’ve highlighted some of the best emerging property investments in the UK.

uk investment guide cover
Download the 2024 UK Investment Guide

Want to know more about the UK property market for 2024? Download the UK Investment Guide today and discover everything you need to know about UK property investment in the new year. In this guide you’ll find:

  • Current market performance
  • Forecasts for the UK property market in 2024
  • Key trends impacting the market
  • Best places to invest in 2024
Download Guide


Average Property Price: £186,622 (Varbes)

Average Rental Yield: 5.14% (PropertyData)

10 Year Price Growth: 56%

Bradford, a key player in the Northern Powerhouse, is poised for a dynamic future as the designated City of Culture for 2025. The city is undergoing significant regeneration, with Darley Street Market being a focal point. This revitalised indoor market, displacing Oastler and Kirkgate markets, will host up to 100 vendors, becoming a thriving hub for local businesses.

In addition to the market, the City Village project is underway, creating an eco-friendly indoor space in the city centre. It is expected to generate 400 permanent jobs, 100 construction jobs, 4,000 sq m of commercial space, and 1,000 sq m of green space. Another cultural gem is the transformation of Bradford’s Odeon cinema complex into the Bradford Live venue, set to accommodate over 3,800 people. Operated by the NEC group, this venue aims to bring live music, theatre, and shows to the heart of Yorkshire by Spring 2024. These ambitious regeneration projects promise a vibrant and diverse future for Bradford.


Average Property Price:  £239,700 (Rightmove)

Average Rental Yield: 4.4%

10 Year Price Growth: 63%

Derby is at the heart of the East Midlands, and is a leading city in the UK. While Derby was once renowned for housing the country’s first factories, it’s expansive employment base has since made the city even more popular – especially amongst the younger demographic.

Housing several global manufacturing brands, including Rolls Royce and Bombardier Transportation, these connections have cemented Derby’s position as the 6th most productive city in the UK. With a solid foundation of employers and opportunities, it’s no surprise that almost 48% of the population is under 35.

However, this is only set to increase in the coming years. The Derby City Centre Masterplan 2030 could push the city’s population as high as 312,000 by 2037, driven by new jobs and amenities. This growing population will inevitably push the demand for rental property, and with a notable disparity between supply and demand already, this is making Derby one of the best emerging property markets.


Average Property Price: £247,790 (

Average Rental Yield: 7.64%

10 Year Price Growth: 71%

For investors looking outside England for their next property purchase, look no further than Glasgow. The  City Council’s recently approved ‘City Centre Living Strategy‘ aims to double the city centre’s population to 40,000 by 2035. This initiative involves converting vacant commercial space, developing brownfield land, and creating new public spaces. The growing population, driven by an influx of students from prestigious institutions, will create a demand for quality rental properties – this spells good news for investors.

Landlords in Glasgow’s thriving economy – the fastest-growing in the UK – are sure to benefit from strategic investments. The city, evolving from its shipbuilding past, now excels in technology, finance, sciences, and tourism, hosting over 48,000 businesses and providing 856,000 jobs. Additionally, the future looks promising with the City Deal earmarking £400 million for key infrastructure projects.

Glasgow’s property market stands out with an average price of £175,665 (November 2023) according to the Land Registry House Price Index, far below the UK average, coupled with rising rents. This combination makes Glasgow an attractive choice for landlords, offering some of the best yields in the UK of 7.64%. 


Average Property Price: £363,489 (Varbes)

Average Rental Yield: 3.6%

10 Year Price Growth: 43%

Just 25 minutes away from central London is reading, our 4th emerging property market for 2024. But it’s not just Reading’s proximity to the capital that makes it stand out, but its fantastic prospective growth. In fact, the city was already named EY’s fastest growing region post-Covid, and this trend is set to continue…

Firstly, the Reading development pipeline currently sits at an impressive 2 million square feet encompassing commercial and residential units, demonstrating just how bright the future of this city is. It’s no wonder – with London becoming increasingly expensive to live in, businesses and residents alike are looking to locations in the capital’s commuter belt for more affordable property prices and commercial leases.

Secondly, Reading’s appeal cannot be overstated. The city welcomes 19,000 students from 150 countries every year, thereby fuelling rental demand. This isn’t to mention Reading’s unrivalled culture – from the renowned Reading Festival, to its proximity to the Chiltern Hills, and the easy commute to London, Reading thrives as a hotspot for short-term lets as well as long-term lets.

Lastly, capital appreciation in Reading bodes well for investors. As of November 2023, properties in Reading sold for an average of £302,496 according to the Land Registry House Price Index, which is a 43% jump since 10 years prior where prices sat at £211,231. If property values continue on this trajectory, the future will look bright for Reading.


Average Property Price: £151,013 (Varbes)

Average Rental Yield: 4.39%

10 Year Price Growth: 33%

Looking to invest in another northern powerhouse? Look no further than Sunderland, which is experiencing impressive regeneration. Sunderland’s revitalization is fueled by a substantial influx of over £1.5 billion in private and public investments, facilitating the transformation of the borough into a vibrant hub for living, business, and leisure. Public-private partnerships are instrumental in creating new living spaces and opportunities in the leisure, retail, and hospitality sectors, all of which are due to make this area more appealing to tenants. 

Sunderland’s appeal is bolstered by its recognition as the Smart City of the year 2020 and its status as a hub for international businesses. Boasting over 5,500 businesses, including global corporations like Nisa, Berghaus, and Rolls Royce, Sunderland attracts a well-educated workforce. Despite these accolades, the city’s housing market remains affordable, ranking second among the most affordable boroughs in England and Wales, with an average property price of £139,334 as of November 2023, making it an enticing prospect for property investors.

In addition, the £160 million investment from Legal & General in Riverside Sunderland will provide 150,000 sq ft of Grade A office space, accommodating a diverse range of businesses that will employ an abundance of employees. It’s no wonder the city’s active rental market, driven by a growing business environment and a thriving student population, is set to grow in popularity for investors in 2024 and beyond.

Ready to Invest in UK Buy-to-Let?

Fill in the form to the right and discover the buy-to-let investment opportunities we have available, all chosen on their forecasted performance, world-class build quality and desirable location.