Call us today: 01722 322683


Lettings outlook 2024: what can landlords expect from the rental market this year?

Our February Property Blog is provided by Lou Fletcher from Piccolo Property Sales and Lettings. She looks at what the outlook is for the lettings market and what landlords can expect from their property investments this year.

February Property Market Update

There’s no denying that landlords faced a pretty challenging 2023. In particular, many of those who were highly leveraged decided to simply sell up, but did they act too soon?

Their departure has left a large hole of opportunity for existing investors and newcomers to fill, with the chronic shortage of homes and massive demand in the Wilton & Salisbury area pushing rents to ever-new heights.

While 2024 has started positively and looks set to be far less turbulent, there are also some upcoming changes for landlords to consider, and in this week’s blog, we’re looking at:

  • The return of accidental landlords
  • Improvements in the mortgage market
  • Clarity over net zero requirements
  • Additional opportunities to expand

So wherever you’re at right now in your landlord journey – thinking of selling up, planning to expand, or raring to buy your first rental investment – read on for how to make the most of this year and beyond.

More accidental landlords

It’s no secret that finding a buyer in 2023 took longer than in 2022, but that doesn’t mean that people’s lives slowed down as well.

When you need to move, you need to move, and some sellers gave up the search for a buyer and rented out their homes instead to keep their plans on track.

Depending on how many more sellers become ‘accidental landlords’ this year, their presence could filter through to the rental market in various ways.

Having a wider choice of available homes could give tenants the luxury of being fussy rather than entering a bidding war over the first thing that comes along.

At the same time, we could see more upmarket rental homes entering the market because homeowners usually spend more money than landlords on fixtures, fittings and design.

This could create a new tier of higher-value, stylish homes appealing to high-earning tenants who are willing and able to pay more for extra comfort.

As with any change, opportunity is never far away, so get in touch if you’d like to chat about the rental market in the Wilton & Salisbury area and how you and your business could benefit.

More clarity over Net Zero

With a general election on the cards in the next twelve months, we’re likely to see clearer messaging from the political parties around the hot topics of rental property and energy efficiency.

In essence, the net zero targets aim to ensure all rental homes are warm, low carbon and affordable to heat, so expect measures for insulation and emissions.

Most homes will need to use low or zero-carbon heating, which means phasing out gas boilers (although the timelines have been pushed back to beyond 2030).

Nonetheless, it makes sense to be mindful of potential costs when adding to your portfolio and whether to discount certain homes entirely or bargain hard to pay for energy-efficient upgrades.

Regardless of whatever course the next Government takes, clarity is good for landlords to help you plan ahead, budget with confidence, and set your properties up for a long-term future.

More opportunities to expand

Highly leveraged landlords had a tough time in 2023, and it’s estimated that around 139,000 rental properties were sold.

As well as making the shortage of homes even more acute, that exodus provides several opportunities.

UK rents rose by 6.1% in 2023 while house prices decreased by 1.2%, and Hamptons estimates that rents will increase four times faster than house prices between now and 2026.

The slower sales market has seen properties taking longer to sell, and with more homes coming up for sale, new and expanding landlords can strike a better bargain.

Buying a tenanted property from an exiting landlord means you can start earning income from the day you complete your purchase.

Finally, bear in mind that many rental homes are let out below their current market rate, so there could very well be hidden extra value in the properties being sold.

Are you reviewing your buy-to-lets for 2024?

Piccolo Sales and Lettings

If there is anything in our February Property Blog that you would like to discuss further, then Piccolo Sales and Lettings would love to hear from you.  Whether it’s increasing your income, planning for future energy legislation. Or you might want to find out which homes in the Wilton and Salisbury area could be the most profitable to add to your portfolio, they are here to help. Whatever you’d like to know, call them on 01722 580059 or message them at

Back to Blog

Please note. While we take care in choosing local property partners to recommend to our clients, we cannot be held responsible for the service they provide.

There is no guarantee that it will be possible to arrange continuous letting of the property, nor that rental income will be sufficient to meet the cost of the mortgage.


There may be a fee for mortgage advice. The actual amount you pay will depend upon your circumstances. The fee is up to 1% but a typical fee is 0.3% of the amount borrowed.

  • Our Customers

    We’ve been helping people with their mortgage and protection needs for over 15 years. Find out what our happy customers have to say about us.

    More info
  • Recommend Us

    At Your Mortgage Expert, we believe that something good is worth sharing. So, if you’re happy with our service, why not tell a friend?

    More info
  • Contact Us

    If you would like to speak to us about your mortgage and protection needs, please get in touch

    Contact us

Our handy mortgage calculator

Our mortgage calculator can help you get a better idea of how much you can afford to borrow, and how much your mortgage will cost you in monthly repayments.


Useful Resources

  • Legal and privacy information

    Your Mortgage Expert Ltd is an appointed representative of Mortgage Advice Bureau which are authorised and regulated by the Financial Conduct Authority

  • 5 Reasons to use a mortgage broker

    We often get asked why use an Impartial Mortgage Broker like Your Mortgage Expert. Here’s our five top reasons.

  • 5 Tips for remortgaging your property

    Adam Nanson from Your Mortgage Expert shares his top five tips for remortgaging. These will help ensure you save time, money and stress.

  • 5 Reasons to remortgage your home

    Thinking about remortgaging but not sure whether it’s for you? Read our handy guide to find out if a remortgage is suitable for you.

  • “This was knight in shining armour stuff. Our conscientious mortgage broker was a delight to deal with from the off and the key to our dream home.”

    Max and Martha, First Time Buyer customers from Cardiff

  • “Being in the Armed Forces I am away a lot, meaning it can be hard to attend meetings, answer emails and especially hard to fill in forms. Adam and his team were extremely helpful and understanding of our situation and provided help wherever they could. After our initial meeting where we provided our required details, we actually did very little of the hard work, apart from signing a couple of papers.”

    Callum and Verena, First Time Buyer Armed Forces Mortgage Customer from Salisbury

  • “I expect my circumstances were fairly rare, but the help and guidance I received from you was invaluable. I feel that the personal touch you provide offers something that appeals to the soldier in me.  During my service I always liked to have a point of contact, someone who was the “go to” specialist in their field.  This provides a degree of assurance about a situation and it was refreshing to find that same degree of certainty transitioning to civilian life, particularly with something as important as a mortgage and buying our family home.”

    Andrew and Helen, Armed Forces Mortgage Customers from Salisbury

  • “Even though we were used to having a mortgage on the rental property, paying a mortgage on your own home was still a bit of a shock after years of having married quarter rental deducted from your pay at source. But, at every step along the way, we felt reassured, understood and that we really mattered to Adam. Trust is an important concept for military families and we trusted Adam.”

    Fiona and Graham, Armed Forces Mortgage Customers from Wilton

  • “As a contractor, it was difficult for me to obtain a mortgage through normal channels so it was great to find a mortgage adviser that specialised in contractor remortgages and understood the challenges. In addition, I had fairly tight timescales, so wanted someone who could make the process quick and hassle free.”

    Andrea, Contractor Mortgage Customer from Warminster

  • “I am a contractor, therefore require specialist mortgage advice. Adam has now concluded two mortgages for us (new mortgage then a contractor remortgage), and is currently arranging a buy-to-let mortgage for us. He also arranged our life insurance for us. We keep returning to him for some great reasons – he is always available, and ready to help. He provides great advice, and always ensures that he meets our requirements exactly. He is prepared to explain things in such a way that even a lummox like me can understand, and his level of service has remained consistently good over the last three years.”

    Matt, Contractor Mortgage Customer from Southampton

  • “Adam’s advice on the different types of critical illness and life insurance were really useful. He also worked with us to decide the best combination of policies that would work with our existing policies to cover our needs. When doing this he happily tweaked quotes for us until we came out with an arrangement that was both affordable and would provide us with the level of cover we thought appropriate.”

    Hannah and Steve, Protection Insurance Customers from Stamford

  • “Adam provided us with factual advice and also with options of which we were unaware. The advice on gifted equity was something we hadn’t heard about and this assisted us hugely to ensure repayments worked within our affordability. He provided us with a very personal service that made the journey from initial call, to mortgage offer and completion hassle free. We have already recommended Adam to someone and will continue to recommend his services in the future.”

    Saul and Laura, Home Mover Mortgage Customers from Salisbury

  • “Mike and I collected the keys to our flat this weekend and we couldn’t be happier. It’s been a long time coming but we got there! We just wanted to say a MASSIVE thank you for everything you have done for us so far. We’ve really appreciated all the help, advice and reassurance you’ve given us all the way through this process. It’s really nice to have a friendly voice on the other end of the phone.”

    Mike and Bethan, First Time Buyer Mortgage Customers from London

  • “Without question Adam found me a deal the estate agent’s broker couldn’t. He was very easy to contact whenever I needed him and he took time to explain the ins and outs of the Help to Buy equity loan scheme mortgage that he found me. I would rate him five out of five and will be back to use him when the time comes to remortgage or move.”

    Chris, Help to Buy Mortgage Customer from Southampton

Contact us

"*" indicates required fields

Monday to Friday: 9am – 5.00pm, Saturday and Sunday: Closed

We will use your name, email address and contact number (‘personal information’) to contact you about the services you have requested or respond to an enquiry you have submitted, which will require us to share your personal information with financial institutions who can assist in the provision of financial services to you including product providers, lenders, banks, insurers, fund managers, platform providers and third party para-planners. For further information on how your information is used, including disclosure to third parties, how we maintain security of your information and your rights in relation to the information we hold about you, please see our Privacy Policy:

Your Mortgage Expert is a trading name of Your Mortgage Expert Limited which is an appointed representative of Mortgage Advice Bureau Limited and Mortgage Advice Bureau (Derby) Limited which are authorised and regulated by the Financial Conduct Authority.

Registered Office Address: 18 New Canal, Salisbury, England, SP1 2AQ. Registered in England Number: 08924507.

Sorry to see you go

Please note, by clicking on the link you will be departing from the regulated site of Your Mortgage Expert Ltd. Neither Your Mortgage Expert Ltd nor Mortgage Advice Bureau are responsible for the accuracy of the information contained within the non-regulated site.