My more detailed commentary on these rankings is here. Because the focus there (at my law school site) is on U.S. universities, let me record here the peer evaluation of some non-US universities (why I'm only reporting the peer score is explained at the other site). Here are the peer evaluations for British and Irish universities:
1. Cambridge University (96)
2. Oxford University (93)
3. Imperial College London (59)
4. University of Edinburgh (48)
5. University College London (46)
6. London School of Economics (43)
6. University of Manchester (43)
8. Trinity College Dublin (31)
9. University of Warwick (30)
10. University of Bristol (28)
10. University of Sussex (28)
10. University of York (28)
13. King's College, London (27)
13. University of Leeds (27)
15. Univeristy of Liverpool (25)
Allowing for the importance of strengths in medicine and the sciences in these rankings, these results seem fairly plausible for the U.K., at least based on what I can tell.
I have a less clear sense of research strengths elsewhere, but here are the top five in peer reputation for Australasia according to THES:
1. University of Melbourne (66)
2. Australian National University (64)
3. Monash University (55)
4. University of Sydney (53)
5. University of New South Wales (50)
And the top five for Canada:
1. McGill University (52)
2. University of Toronto (51)
3. University of British Columbia (47)
4. University de Montreal (25)
5. University of Alberta (24)
These results don't look bizarre to me, but I may be wrong (comments are open). Outside the English-speaking world, I simply have no idea what is sensible, and what not.