Northern Ireland is emerging as one of the UK's most compelling rental investment destinations, as landlord exits accelerate across England and demand for quality rental homes in the region continues to grow.
Landlords leaving England
New Rental Wellness research from Belfast-based estate agency John Minnis points to a widening divide between the two markets. In England, 26% of landlords sold at least one rental property during 2024, while only 8% purchased additional homes.
A further 31% plan to reduce their portfolios over the coming years. Northern Ireland tells a different story: rents have risen by approximately 51% over the past five years, tenant enquiries are up around 33%, and four of the five fastest-growing housing markets in the UK are located in the region.
The research identifies Belfast, Derry, Newry, Lisburn and Bangor as Northern Ireland's leading Rental Wellness Hotspots, ranked on tenant demand, long-term occupancy potential, affordability and growth.
Belfast topped the rankings with a Rental Wellness Score of 91, driven by employment growth and a diverse rental market. Derry followed at 89, combining affordability with strong demand and long-term growth potential.
Newry scored 87, benefiting from its strategic location and increasing economic activity, while Lisburn (85) drew interest from families seeking stable long-term occupancy. Bangor (84) rounded out the top five, with coastal living, commuter connectivity and lifestyle appeal cited as key draws for long-term renters.
What rental wellness means for landlords
The report centres on a growing trend towards what John Minnis terms "Rental Wellness": homes that encourage longer tenancies through better property quality, energy efficiency, location and overall tenant wellbeing. For landlords, the model offers lower void periods, reduced re-letting costs and more stable income. For tenants, it provides greater housing security and quality of life.
John Minnis, founder of John Minnis estate agents, says the research reflects a broader shift in tenant priorities.
"We're seeing a noticeable shift in what tenants are looking for from a rental property. While location and affordability remain important, renters are increasingly considering the overall quality of life a home can offer."
"Features such as energy efficiency, comfortable living spaces, access to outdoor amenities, strong transport connections and a sense of community are becoming much bigger factors in decision-making, particularly among professionals, families and those working remotely."
Stability is also becoming a more prominent consideration. "As housing costs continue to rise across the UK, tenants are also placing greater importance on stability. Many people are looking for homes where they can see themselves staying for several years rather than just their next tenancy term," he said.
He added, "Our Rental Wellness research reflects this changing mindset. Properties that provide a better overall living experience often attract longer-term tenants, which is beneficial not only for renters seeking security and wellbeing, but also for landlords through reduced void periods, lower turnover costs and more consistent rental income. Ultimately, the strongest-performing rental properties are increasingly those that people are happy to call home for the long term."
Northern Ireland's appeal, the report suggests, extends beyond affordability. Comparatively lower property prices, strong yields and growing regional economies combine with lifestyle attributes that support longer tenancies, making the region an increasingly attractive proposition for both new and experienced landlords reconsidering where to deploy capital.
