The share of homes purchased by landlords has risen to its highest level since 2016, according to new analysis, driven largely by an increase in transactions where one landlord is selling to another.
The data provided by Hamptons suggests that rather than a wave of new entrants into the sector, recent activity has been shaped by existing investors reshuffling portfolios, with larger landlords increasingly buying properties from smaller landlords.
Between January and April 2026, landlords accounted for 13.3% of all residential purchases across Great Britain, the highest level recorded since 2016, when the second home stamp duty surcharge was introduced.
The increase follows a prolonged period of relatively subdued investor activity between 2016 and 2025, before a recent uptick coinciding with higher mortgage rates and the introduction of the Renters’ Rights Act, both of which have contributed to shifts in the private rented sector.
Regional data shows the strongest growth in Northern England. Across the North East, North West and Yorkshire & Humber, landlords accounted for 23.9% of purchases so far this year, up from 14.5% over the same period in 2025.
In the North West specifically, landlords made up 25.3% of buyers, while the North East recorded 23.8% and Yorkshire & Humber 11.9%. In the North West, the share of landlord purchases has more than doubled year-on-year.
By contrast, activity across southern regions has remained broadly stable. In London, the South East, South West and East of England combined, landlords accounted for 9.1% of purchases, compared with 8.8% a year earlier.
Share of homes bought by a landlord (Jan-Apr)
| Jan-Apr 2025 | Jan-Apr 2026 | Change | |
| London | 8.7% | 10.1% | 1.4% |
| South East | 9.7% | 8.7% | -1.0% |
| South West | 6.9% | 8.1% | 1.2% |
| East of England | 7.6% | 9.3% | 1.7% |
| East Midlands | 13.2% | 13.3% | 0.1% |
| West Midlands | 14.2% | 14.5% | 0.3% |
| North East | 24.6% | 23.8% | -0.8% |
| North West | 12.4% | 25.3% | 12.9% |
| Yorkshire & Humber | 12.5% | 11.9% | -0.6% |
| Scotland | 5.1% | 6.4% | 1.3% |
| Wales | 5.8% | 6.6% | 0.8% |
| Great Britain | 9.9% | 13.3% | 3.3% |
Source: Hamptons using Connells Group data
A growing proportion of purchases are landlord-to-landlord sales. Faced with higher borrowing costs and increased regulation, some landlords have chosen to exit the sector – and their homes are increasingly being bought by another investor.
So far this year, a record 23.0% of homes bought by landlords had previously been let by the previous owner. This figure is up from 16.0% in 2025 and a five-year (2019-23) average of just 9.9% (chart 2).
Aneisha Beveridge, head of research at Hamptons, said: “With the Renters’ Rights Act becoming law against a backdrop of rising mortgage rates, some landlords have taken the opportunity to leave the market. Increasingly, though, they’re passing on their properties to other investors. This means the recent spike in landlord purchases reflects homes changing hands between investors, rather than the dawn of a new buy-to-let boom.
“It’s predominantly in areas where the economics of buy-to-let stack up best that homes sold by landlords are most likely to stay within the rental market. Higher yields across much of the North of England are more likely to offset rising mortgage and tax costs. Across much of the South, meanwhile, homes sold by landlords are more likely to be bought by a first-time buyer or owner-occupiers trading up.
“Rental growth strengthened in the final month before the Renters’ Rights Act became law. As some landlords opted to sell ahead of the changes, more tenants were forced back into the market, increasing demand for homes to rent. While the full impact of the new rules is yet to play out, early evidence suggests they are already adding to upward pressure on rents.”
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