Benham & Reeves sees no mass exodus of landlords across England – London Wallet

Any fears of a national mass landlord exodus ahead of the Renters’ Rights Bill becoming law are overstated and have yet to materialise, according to the latest data from Benham & Reeves.

Observers have warned that the major changes implemented in the bill, which will abolish Section 21 evictions, implement periodic tenancies and introduce the Decent Homes Standard, would lead to many current landlord selling up and thereby choke the supply of available rental homes, pushing rents higher.

However, the latest analysis of Zoopla data from Benham and Reeves shows that today there are 23.5% more rental properties available across England than there were in September 2024, the month following the introduction of the Renters’ Rights Bill to parliament.

This trend can be found in the vast majority of 48 English regions, says Benham & Reeves. The most dramatic increases can be seen across Bristol (+79.1%), West Yorkshire (+72.9%) and Tyne and Wear (+60%). London has been “resilient”, with stock levels climbing by 11% over the same period. Only three regions saw stocks fall – the most marked being Herefordshire (-22.5%) followed by Gloucestershire (-16.4%) and the Isle of Wight (-11.1%).

Director of Benham and Reeves, Marc von Grundherr, commented: “While the Renters’ Rights Bill has created understandable uncertainty among landlords, particularly around the removal of Section 21, the notion of an imminent collapse in rental stock levels has simply not materialised and 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, which is welcome news for tenants who have faced unprecedented competition for homes in recent years.

“As a landlord and letting agent myself, I’ve recently invested into the buy-to-let sector as 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 also trending downwards and mortgage payments becoming more palatable, now is a great time for long-term wealth building.

“That said, this does not mean we can be complacent. 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. For now, it’s clear that the feared landlord exodus has not happened, and the private rental sector remains robust.”

The Benham & Reeves findings

Analysis based on rental listings data for September 2024 versus latest available figures for August 2025, sourced from Zoopla.