More than half of buy-to-let investor offers were at least 10% below the original asking price in July as landlords used their chain-free position to negotiate harder, Hamptons has reported.

Investors accounted for 14.1% of property purchases across Great Britain during the month, above the year-to-date average of 12.4%.

Some 56% of landlord offers in England and Wales were at least 10% below asking, rising to 63% among cash-funded investors.

The average landlord ultimately paid 88.7% of the property’s initial asking price, according to Hamptons’ analysis of Connells Group data.

SELLERS ACCEPT BIGGER DISCOUNTS

Sellers accepted 27% of investor offers made at least 10% below asking, compared with 18% in July 2025.

Leasehold sellers proved particularly receptive, accepting 41% of heavily discounted offers amid weaker demand for flats.

Properties where a low offer was accepted had spent an average of 140 days on the market, with many having already undergone price reductions.

By comparison, homes where investors secured a price within 10% of asking had typically been marketed for 45 days.

The South East recorded the highest proportion of low investor offers at 70%, followed by the South West at 60%. London had the lowest proportion at 30%.

Owner-occupiers negotiated less aggressively, with 25% of first-time buyer offers and 27% of home-mover offers coming in at least 10% below asking.

RENTAL GROWTH ACCELERATES

Annual growth in rents on newly let homes increased for an eighth successive month, reaching 1.9% in July – its strongest rate for 19 months.

The average new let in Great Britain cost £1,401 per month, compared with £1,258 across all tenancies.

Wales recorded the fastest new-let growth at 4%, followed by the South West at 3.7% and West Midlands at 3.3%.

David Fell (main picture, inset), lead analyst at Hamptons, said: “With homes taking longer to sell and chains proving fragile, landlords are using their liquidity and chain-free status to maximise their leverage when it comes to agreeing a price.

“While higher borrowing costs continue to weigh on investment returns, landlords with cash or low levels of borrowing are finding that a slower market is creating opportunities to purchase at significantly lower prices.”

He added that accelerating rental growth was providing landlords with a counterweight to higher borrowing costs.