The total number of unincorporated landlords that declared income from renting property in 2023 to 2024 was 2.86 million – this compares to 2.81 million in 2019 to 2020.
This is according to the latest Property rental income statistics: 2025 from HM Revenue & Customs which also reveals that overall, total income from UK property increased by £8.02bn, or 17% between 2019 to 2020 and 2023 to 2024, driven by an increase in both average property income and the number of individuals reporting property income.
Total property income declared by unincorporated landlords increased in 2023 to 2024, to £55.53bn, its highest point in the last five years, compared with £52.82bn in 2022 to 2023
The HMRC data also shows that property income is concentrated in London. In 2023 to 2024, 17% of unincorporated landlords were based in London, accounting for 27% of property income for unincorporated landlords.
The HMRC statistics covers taxpayers that receive income from renting property that is declared via Income Tax Self Assessment (ITSA) returns. It does not contain information on tenants, or on income received from buying and selling properties.
As reported this week in Mortgage Strategy, The Treasury is considering increasing taxes on landlords by adding national insurance on rental income ahead of the Chancellor’s autumn budget.
