The report highlights that planned portfolio investment has increased from 5% to 8% in Q1, with expansion-focused landlords intending to acquire an average of 1.6 properties. Purchase activity remains strongest among landlords with buy to let borrowing across four or more properties, where 12% are planning further acquisitions.
At the same time, plans to scale back portfolios have softened. Four in ten landlords now intend to reduce property numbers, down five percentage points since Q4 2025. While appetite for new purchases has remained relatively subdued over the past 18 months, the gap between intended purchases and sales has narrowed this quarter, rather than as a longer-term trend.
Overall, 42% of landlords say they intend to sell at least one rental property over the next 12 months, with an average of 2.6 planned sales. However, historical trends suggest that actual divestment activity is often lower than initial intentions indicate. Analysis points to a long-standing ‘say-do gap’, where around 55% of stated intentions to sell do not ultimately materialise.
Regional trends also point to pockets of growing confidence. Landlords in the North East are currently the most likely to be looking to expand over the next year, while intentions to increase portfolio sizes have edged up across most regions since Q4 2025.
Financing remains central to future activity. Among landlords intending to buy, 44% expect to use a buy to let mortgage for their next purchase, although this should be treated with some caution given the relatively small base size, it underlines the continued role brokers and lenders will play in supporting investment plans.
Longer-term outlooks also remain relatively stable. Six in ten landlords have a market exit timeline in mind, although this has fallen slightly since Q4 2025. Among those with defined plans, the average expected holding period is just over five years, while nearly a quarter say they have no plans to sell at all.
Taken together, the latest figures suggest landlords continue to take a pragmatic approach to portfolio planning, balancing selective growth opportunities with longer-term considerations around structure, profitability and future exits.
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