New research from The Deposit Protection Service indicates continued consolidation in the UK landlord market over the past year.
Its latest Private Rented Sector Review, based on a survey of more than 1,000 landlords, shows the proportion owning one or two properties fell from 57% to 50% between October 2024 and October 2025.
Over the same period, the share of landlords with three to five properties increased from 27% to 31%, while those with 11 or more properties rose from 5% to 8%. The proportion owning six to 10 properties remained unchanged at 11%.
More than a third of landlord respondents (36%) said rental income was their main source of income.
A majority of landlord respondents (56%) said rental income was not their primary source of income.
Just 5% of landlord respondents reported operating via limited companies.
Around three in 10 landlord respondents (28%) said they continue to let properties as individuals or sole traders.
Matt Trevett, managing director at The DPS, said: “Taken together, these findings point to a gradual reshaping of the landlord landscape.
“Smaller landlords now account for a shrinking share of the market, while medium and larger portfolios are becoming more prominent.”
“At a time of ongoing economic pressure and regulatory change, the data suggest the sector is continuing to consolidate.”
