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Small landlords’ share of market continues to decline – London Wallet

Mark Helprin by Mark Helprin
March 20, 2026
in Real Estate
Small landlords’ share of market continues to decline – London Wallet
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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.” 

 

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