Landlords buying from landlords hits the highest level since 2016

Landlords are increasingly buying previously let homes from other landlords and the transactions accounted for 13.3% of all home purchases across Great Britain between January and April.

The data from Hamptons says this is up 9.9% on the same period last year.

That’s the highest share recorded since the start of 2016, when the second home stamp duty surcharge was first introduced.

The rise has been driven less by new investors entering buy to let and more by larger landlords buying homes from smaller landlords leaving the market.

Not a BTL boom

The firm’s head of research, Aneisha Beveridge, 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.”

She added: “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.”

More landlord homes bought

Hamptons says that a record 23% of homes bought by landlords so far this year had previously been let by the seller.

That compares with 16% in 2025 and a five-year average of 9.9% between 2019 and 2023.

The change comes as higher mortgage rates and the Renters’ Rights Act reshape decisions across the private rented sector.

The firm says that while some landlords are selling, others are expanding.

Landlords buying property

Northern England has seen the sharpest rise in landlord buying.

Across the North East, North West and Yorkshire and Humber, landlords made up 23.9% of buyers between January and April.

That compares with 14.5% during the same period in 2025.

In the North West, landlords accounted for 25.3% of purchases, more than double the 12.4% recorded last year.

The North East stood at 23.8%, slightly below 24.6% in 2025, while Yorkshire & Humber fell from 12.5% to 11.9%.

Southern activity lower

Across London, the South East, South West and East of England, landlords made up 9.1% of purchases, only slightly above the 8.8% recorded in 2025.

London rose from 8.7% to 10.1%, while the South East fell from 9.7% to 8.7%.

The South West moved from 6.9% to 8.1%, and the East of England increased from 7.6% to 9.3%.

The East Midlands was almost unchanged, moving from 13.2% to 13.3%, while the West Midlands rose from 14.2% to 14.5%.

Scotland increased from 5.1% to 6.4%, and Wales from 5.8% to 6.6%.

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