Fears of a mass landlord sell-off have not materialised, according to new analysis by Benham and Reeves. Since the Renters’ Rights Bill was introduced to Parliament in September 2024, the number of rental properties available across England has grown by 23.5%—a sign that UK landlords are standing their ground, not heading for the exit.
No sign of landlord exodus as regional rental supply increases
Despite warnings that the Renters’ Rights Bill would trigger a wave of sales, most regions across England are seeing more homes entering the rental market. The strongest growth has been recorded in Bristol (up 79.1%), West Yorkshire (72.9%), Tyne and Wear (60%), East Sussex (50.5%) and Northumberland (41.4%).
London has also defied expectations, with a steady 11% rise in available rental stock since the bill’s launch. Only a handful of local markets—Herefordshire, Gloucestershire, and the Isle of Wight—have seen reductions.
Marc von Grundherr, Director of Benham and Reeves, said: “The notion of an imminent collapse in rental stock levels has simply not materialised. It’s clear that, so far, there has been no landlord exodus. In fact, supply has increased in almost all areas of the country since the Bill was introduced.”
The Renters’ Rights Bill, now in its final stages before Royal Assent, will abolish Section 21, introduce periodic tenancies, and enforce a new Decent Homes Standard. But rather than fleeing, many landlords appear to be doubling down—particularly those with strong yields or opportunities to acquire discounted stock.
Investor sentiment buoyed by falling rates and buyer caution
Von Grundherr, who is also a landlord, confirmed he’s recently added to his own portfolio: “We’ve continued to see strong yields on offer and discounted deals due to a slightly slower property market with respect to house prices. With interest rates trending downwards and mortgage payments becoming more palatable, now is a great time for long-term wealth building.”
That confidence is echoed in the capital, where Foxtons reports its New Homes and Investments team increased sales volumes by 16.5% in the first half of 2025. Landlords made up over a quarter (25.4%) of all new homes buyers in London, behind first-time buyers (58.5%).
Foxtons New Homes Sales Director Joel Ellis-Duffy added: “It’s a positive indication for H2 that, now London buyers are benefitting from improvements to the mortgage market landscape, they are pushing on with their plans to purchase. We expect this trend to continue, particularly as the government recently stated its intention to ease lending criteria further to support buyers.”
Cash buyers still account for 27.4% of all Foxtons new-build transactions—many of them landlords able to complete quickly and list in time for peak letting season.
Caution remains as final legislation looms
While current stock levels remain robust, landlords are still awaiting final confirmation of the Renters’ Rights Bill’s enforcement details. Von Grundherr warns the real test will come after the legislation takes effect: “The true test will come in the months after implementation, once landlords have had time to fully digest the legislation and decide whether they wish to remain in the market.”
Letting agents across the UK will be watching closely to see whether any sudden shifts in sentiment occur once Section 21 is formally abolished and the Decent Homes Standard becomes enforceable. For now, however, the buy-to-let sector appears to be far more resilient than campaigners—and some policymakers—have predicted.
Editor’s view
The numbers don’t lie: rental supply is up, landlord activity is steady, and talk of an exodus is—at least for now—just that. For savvy landlords, this could be the sweet spot before competition heats up again. The key question: will new legislation tip the scales later this year, or will strong yields and falling rates continue to hold the line?
