An investment expert says TV property shows – especially episodes recorded some time ago – should carry warnings about soaring buy to let costs for landlords. 

Moira O’Neill, writing in the Financial Times, says that buy to let was at one time a British dream, providing income for landlords (especially the one-third who have only one investment property) as well as providing homes for tenants.

But she cites a recent Homes Under The Hammer which was a repeat of a 2022 programme, since which time inflation and interest rates have both soared, making buy to let “a precarious source of income for landlords”.

In addition to high prices having “increased the pain of repairs and replacements” and renters reaching their affordability ceilings in some areas, there is what she sees as the possible cost increases involved in the new government’s Renters Rights Bill, details of which are expected soon.

“Some landlords fear Labour will press ahead [banning Section 21] without providing extra resources for the already log-jammed court system. Plus there are fears that Labour will put up Capital Gains Tax on property sales.”

And she continues that many landlords wonder why they bother any longer with but to let, especially as savings accounts can provide 5% returns. 

O’Neill therefore recommends that “it’s time to put big warnings on property programmes that don’t represent reality, given tax changes and falling yields.”

She says they may become less watchable for some, but would be less of a fantasy for all.