London has been named as investors’ top global city for property purchases, for the first time in four years, according to the Association of Foreign Investors in Real Estate.

London rose from number two in 2013 to become the “top global city” for investment in 2014, beating former number one New York.

Also in the top five for 2014 were San Francisco, Houston and Los Angeles.

The UK also rose to third place, from fifth last year, among the most “secure and stable” nations for investment.

Washington DC-based Association of Foreign Investors in Real Estate said: “While the US remains the primary target for foreign investment, 69% of survey respondents projected that they would also have modest to major net increases in their European portfolio.”

The survey questioned nearly 200 AFIRE members.