Is Buy to Let Still Worth It In 2024?
19 June 2024
Is Buy To Let still worth it in 2024?
Despite some recent fluctuations, the UK housing market remains resilient, with savvy buy-to-let investors poised to capitalise on plentiful opportunities. Strategic planning and proactive management will be key to maximising returns in 2024.
The pandemic forced the housing market to temporarily grind to a halt. Since then, as restrictions have eased and the market has begun to stabilise, we have seen a surge in activity amongst buyers, sellers and investors. Recent statistics point to an average UK house price increase of 20.4% between January 2020 and December 2022.
Though price growth has slowed somewhat in response to fluctuating interest rates and inflation, factors like high housing demand and constrained supply underpin the foundational strength and resilience of the market. House prices have actually recently dropped, to the extent that they are plummeting at a rate not seen in over a decade, down 4.6% year-on-year. This should make any enticing prospective buyer take notice.
Despite the rumour mill running rampant with housing market crash talk, this is purely speculation at this stage. As experienced agents keeping tabs on current market trends and insights very closely, we will be forthcoming if there is any such economic downturn on the horizon.
Buy-to-let investors have begun to question whether the housing market currently presents a good opportunity to take the plunge in 2024, and, to be truthful, they can. If approached strategically, you can see healthy returns on property investments on a buy-to-let basis. With guidance from professional, transparent estate agents like ourselves, you can position yourself to benefit lucratively, with your investments retaining enduring viability. This short guide explains everything you need to know at this stage.
The UK Housing Market Shows Underlying Resilience
The UK housing market has largely stabilised after a temporary period of volatility. Despite a minor price growth slowdown, underlying demand still outweighs supply, so prices will likely hold steady and firm for the foreseeable future.
In the 12 months to early October, house prices fell 0.8% due to reduced market activity. September 2022 saw the largest annual fall in UK house prices in 14 years, as revealed by data from Halifax Bank. This suggests that there is no imminent risk to the UK housing market for buy-to-let landlords at present. The number of year-on-year house sales fell, but agents are still seeing steady enquiries, and market activity remains healthy.
At the cost of living crisis eases steadily and interest rates fall, more buyers and renters will enter the market. The underlying supply and demand imbalance suggests that house prices will remain relatively resilient while the market stabilises further. So, new and seasoned buy-to-let investors can feel reassured that a move for a property in this sector will prove worthwhile. You may just have to wait for the prime opportunity.
With the help of proactive property agents like Northmode Properties and local buy-to-let tax advisors and accountants, you can focus on growing your portfolio and seeing healthy returns too.
What else do buy-to-let investors need to be aware of going into 2024?
Rising Interest Rates Present Strategic Opportunities
The Bank of England’s base rate stands at 5.25%, which is increasing mortgage costs for landlords. However, while higher rates squeeze profits in the short term, the base rate will eventually fall as inflation inevitably drops.
While some buyers may baulk at the average two-year fixed-rate deal (6.4%, according to Moneyfacts, which is up from 2.9%, the average deal in December 2021), savvy landlords and investors are using this window to secure competitively-priced fixed-rate mortgage deals. By using their networks strategically, they can find lenders willing to strike competitive loans below the average rate.
Some landlords see this as an opportunity to sell up, granted, but that doesn’t mean that those opting to let their properties out can’t maintain a positive cash flow. It certainly doesn’t mean that being a buy-to-let landlord is not financially viable in this current window. With the right financing strategy, you can still maintain a healthy cash flow. The key is finding value, controlling costs carefully, and regularly reviewing performance.
Tax and Regulatory Changes are Manageable
The UK Government implemented a 3% stamp duty surcharge on additional properties, including those purchased for buy-to-let purposes. Additionally, the gradual introduction of new schemes and incentives for landlords is being met with optimism rather than a backlash. Some may even see the new way of declaring income on tax returns, to cover mortgage payments, as more beneficial and less time-intensive.
Furthermore, previously proposed mandatory upgrades to rental properties to meet minimum EPC standards have been put on hold, giving landlords additional breathing room. Improving the efficiency of properties remains wise to attract future tenants and future-proof assets, but the u-turning on deadlines has given buy-to-let investors more thinking time to focus their property upgrade efforts.
It has also paved the way for more buy-to-let mortgage enquiries given that the Government will – in the interim – subsidise a transition to greener homes and not put the burden of costs on landlords.
While tax changes have marginally impacted costs, allowances and lower-rate tax relief will help offset the impact. Longer-term proposals like the Renters Reform Bill could also give renters more impetus to begin househunting for rental properties. While landlords should still navigate this imminent bill with steadiness, if they maximise rental income and capital values while keeping rent amounts competitive, they could begin to see healthier returns.
Closely monitoring interest rates and changing regulations will be key to evaluating the changes in the market. However, if planned methodically, buy-to-let undoubtedly remains viable.
Tips for Making Buy-to-Let Work in 2024
While the buy-to-let landscape has changed, property can still prove highly rewarding if approached strategically. Amid all market shifts, investors have to be flexible and respond proactively, rather than reactively.
Prospective buy-to-let investors can maximise their chances of success through careful planning and strategy. Focusing on high-demand areas, finding value-added opportunities like auctions or run-down properties, minimising costs by lowering mortgage payments, using allowances where possible, and leveraging professional estate agent help will be key. Managing properties proactively, assessing performance regularly, and being ready to adjust as needed is also vital.
With the right expectations and adaptable strategy, buy-to-let can continue offering lucrative long-term returns.
The UK rental market has officially entered a new era. With the full implementation of the Renters’ Rights Act in 2026, the traditional "Section 21" or no-fault eviction is a thing of the past. For landlords across Manchester and Salford, this shift has created a wave of uncertainty. At Northmode Properties, we’ve spent the last year preparing our portfolios for this transition. The good news? High-quality property management makes these new regulations manageable. Here is what you need to know to stay compliant and protect your investment in 2026. 1. The Death of Section 21: What Replaces It? Tenancies are now fully periodic from day one. You can no longer end a tenancy without a specific, proven reason. Instead, the government has strengthened Section 8 grounds. The Northmode Strategy: We ensure every tenancy agreement is bulletproof from the start. If you need to sell or move back into your property, we manage the mandatory notice periods (typically 4 months) to ensure you aren't tied up in the revamped housing court system. 2. Mandatory Ombudsman & Redress Schemes In 2026, every private landlord must join the new Private Rented Sector Landlord Ombudsman. Failing to do so can result in heavy fines from Manchester or Salford City Councils. How we help: As your Property Management Specialists, we act as the professional buffer. We handle tenant disputes early, preventing them from ever reaching the Ombudsman stage and protecting your reputation as a landlord. 3. The 'Right to Request' a Pet One of the most talked-about changes in 2026 is the tenant's right to request a pet. Landlords can no longer "unreasonably" refuse. The Opportunity: Rather than seeing this as a risk, we view it as a way to secure long-term, high-quality tenants. We ensure tenants have the mandatory pet insurance required by the new law, protecting your carpets and woodwork while assisting an underserved market of professional pet owners in across Manchester. 4. Decent Homes Standard: The New Audit Reality For the first time, the Decent Homes Standard applies to the private sector. If your Manchester rental doesn't meet specific health and safety criteria, you cannot legally collect rent. Our Compliance Audit: Northmode Properties conducts rigorous pre-tenancy inspections to ensure your property meets the 2026 energy and safety standards that the council's enforcement teams are looking for. Why Proactive Management is Your Best Asset 2026 isn't the year for "DIY" landlording. The risks of non-compliance, ranging from rent repayment orders to fines are simply too high. By switching to Northmode Properties, you aren't just hiring a letting agent; you’re hiring a compliance shield. We take the stress of the Renters' Rights Act off your plate so you can focus on your yield, not the legislation. Reach out today, our team will be happy to guide you through the changes and recommend the most suitable service for your property. Call us: 0161 676 0084 Email: enquiries@northmodeproperties.co.uk
Specialist property management for overseas and non-resident landlords. Northmode Properties provides expert NRL tax compliance and asset management in Manchester.
Managing a single rental is a job; managing a multi-unit portfolio in 2026 is a full-scale operation. With the introduction of the Private Rented Sector Database and the expansion of Selective Licensing across Greater Manchester, the "DIY" approach to a large portfolio is no longer just stressful it’s a legal liability. At Northmode Properties, we specialise in transitioning landlords from "accidental owners" to professional investors. Here is our 2026 blueprint for managing and scaling a multi-property portfolio. 1. Centralising Compliance in a "Periodic" Market With the 2026 abolition of fixed-term tenancies, your portfolio is now 100% periodic. For a landlord with 10 properties, that means 10 different notice periods to track. We use advanced management software to provide a single dashboard for your entire portfolio. We track gas safety, EICRs, and the new Decent Homes Standard across every unit simultaneously, ensuring you never miss a deadline that could lead to a Rent Repayment Order. 2. Navigating the Manchester "Licensing Patchwork" From Salford’s specific licensing zones to Manchester City Council’s latest schemes, the rules change street by street. We provide hyper-local expertise. We know exactly which properties in your portfolio require a license today and which ones will need an audit under the 2026 standards. We handle the paperwork, so you just collect the yield. 3. Tax Efficiency & Incorporation In 2026, the way you hold your properties (Individual vs. Limited Company) is more critical than ever due to shifting tax brackets and interest rate fluctuations. While we aren't tax advisors, we work alongside your accountants to ensure your management structure supports your corporate tax strategy. High-growth portfolios across Manchester in Ancoats and The Quays require professional oversight to remain profitable. 4. Risk Mitigation: The "Professional Buffer" The new Landlord Ombudsman means tenants have a direct line to complain about maintenance delays. For a multi-property landlord, one bad boiler in one flat can trigger an audit of your entire portfolio. Northmode acts as your legal shield. Our 24/7 maintenance response ensures that small issues never escalate into Ombudsman complaints, protecting your "Fit and Proper Person" status. From Landlord to Investor The ultimate goal of a multi-property portfolio is passive income. If you are spending your weekends chasing rent or checking smoke Alarms, you aren't an investor, you’re an employee of your own properties. To discuss a comprehensive audit of your current portfolio or to review our specialist management frameworks, please contact our senior team for a confidential consultation. T: 0161 676 0084 E: enquiries@northmodeproperties.co.uk
Discover how professional portfolio management helps landlords reduce risk, stay compliant, and improve returns across multiple rental properties.
Learn what repairs UK landlords are legally responsible for, including plumbing, heating, and structural safety. Stay compliant and avoid disrepair claims.
New AML rules for UK landlords start May 2025. Learn what compliance checks are required and how to avoid legal penalties.
Learn what commonhold means, how it differs from leasehold, and what it could mean for future flat owners and landlords in England and Wales
Discover how landlords can reduce property maintenance costs on buy-to-let homes while protecting rental income and boosting yield.
Struggling with poor communication, high service charges, or lack of transparency from your current managing agent? Here’s how leaseholders can take control — from understanding your rights to switching to Manchester's trusted block management provider.
Managing a property portfolio comes with great potential for high returns, but it also brings challenges such as maintenance coordination, tenant management, and financial planning. Portfolio landlords must adopt a strategic approach to ensure their investments are profitable, compliant, and stress-free. This guide explores the key principles of property portfolio management, offering insights on how to maximise rental income, streamline operations, and minimise risks. What is Property Portfolio Management? Property portfolio management refers to the strategic oversight of multiple investment properties. Unlike single-property landlords, portfolio landlords must balance different financial, operational, and regulatory considerations across multiple assets. A well-managed portfolio leads to: Consistent rental income and occupancy rates. Reduced maintenance costs through proactive planning. Legal compliance across all properties. Efficient handling of tenant relations. Key Strategies for Successful Property Portfolio Management 1. Establish a Clear Investment Strategy Before expanding a portfolio, landlords should define their investment goals: Buy-to-let income vs. capital growth – Do you prioritise monthly yield or long-term appreciation? Geographical focus – Concentrate on high-demand areas like Manchester and the Northwest. Property type – Focus on HMOs, single-lets, blocks, or a blend? Having a clear strategy helps landlords make informed purchasing and management decisions. 2. Professional Property Management: When to Delegate Self-managing a large portfolio can be overwhelming. Partnering with a property management company like Northmode Properties allows landlords to: Handle tenant communication, rent collection, and compliance. Reduce void periods with efficient tenant transitions. Access vetted contractors for cost-effective maintenance. A professional team can free up your time while ensuring high occupancy and compliance. 3. Financial Planning and Cash Flow Management Strong financial management is vital. Keep close watch on: Rental Yield & ROI – Make sure income exceeds expenses. Service Charges & Maintenance Budgets – Anticipate ongoing and long-term costs. Refinancing Options – Use equity to fund further growth. Tax Planning – Consider limited company structures to optimise tax. 4. Compliance and Risk Management Managing multiple properties means managing multiple legal obligations. Ensure: EPC and energy efficiency compliance Fire safety and gas certificates Deposit protection schemes HMO licensing (if applicable) Staying compliant protects against penalties, disputes, and reputational harm. 5. Scaling the Portfolio: Growth Strategies Looking to grow? Consider: Targeting high-yield areas and off-market opportunities Using remortgaging to release capital Forming joint ventures for larger deals Diversifying with HMOs, student lets, or mixed-use buildings Why Work with Northmode Properties At Northmode Properties, we specialise in helping portfolio landlords manage, grow, and protect their investments. We offer: Block and property management under one roof Lettings and tenant support tailored for portfolio landlords Maintenance coordination across multiple units Transparent financial reporting and strategic insights Ready to Take Your Portfolio to the Next Level? If you’re a portfolio landlord in Manchester or the Northwest, Northmode Properties is here to help you scale efficiently and sustainably. Contact us today to learn how we can support your growth and streamline your operations.