The number of landlords in England is shrinking as smaller, “amateur” property owners quit the buy-to-let market — and experts warn the Government’s looming Renters’ Rights Bill will intensify the trend.
Fresh analysis from lettings specialist Dwelly shows landlord numbers fell by 1.04% in 2023/24, with 2.86 million declaring rental income — down from a peak of 2.89 million the previous year. The decline has been driven by individual landlords, whose numbers dropped 0.7%, while jointly owned partnerships held steady.
The contraction comes after a punishing year of legislative and financial pressures. Higher energy efficiency requirements and new tax measures introduced in 2023/24 have eroded confidence, prompting smaller operators to bow out.
Wales recorded the sharpest fall, with landlord numbers down 2.7%, followed by Yorkshire and the Humber and the South West. By contrast, London bucked the trend, with landlord numbers rising 0.4% to 474,000.
Dwelly warned that the Renters’ Rights Bill — which will abolish Section 21 “no-fault” evictions and overhaul tenancy rules — is set to heap fresh pressure on individuals without the resources to cope.
Sam Humphreys, Dwelly’s head of M&A, said: “Such a significant shake-up is inevitably going to push some landlords from the sector and our analysis suggests it’s the nation’s amateur landlords who are most likely to call time when the Bill comes into force.”
He added that without proper support, small landlords risk being driven out altogether. However, with streamlined systems and professional letting agents, landlords could still adapt and thrive.
Industry figures warn the sector faces a “daunting period” of reform, but argue that buy-to-let remains profitable for those able to weather the storm.
