Buy-to-let investors can benefit from 12% price discounts for unmodernised homes
Research by London lettings and estate agent, Benham and Reeves, shows that buy-to-let investors can snap up unmodernised properties for as much as -12.3% below the average market house price, providing a stellar opportunity for strong and relatively fast investment returns.
Benham and Reeves analysed house price data for 36,175 unmodernised properties currently listed for sale on England’s housing market* and found that, on average, they are priced -7.4% below the wider market average.
While the average house price in England currently stands at £373,156, the average for an unmodernised property is -7.4% lower at £345,504 – a cash difference of -£27,651.
Within regional markets, the discounts available for modernised homes grow even bigger.
In the North West of England, the average house price currently sits at £245,065.while the average unmodernised home costs just £215,000, marking a saving of -12.3% or -£30,065.
In the North East an average price of £149,975 for an unmodernised home is -11.2% below the region’s wider average (£168,970), while the West Midlands and South East offer average discounts of -9.1% and -8.1% respectively.
In London, the average unmodernised discount of -7.4% is equivalent to -£59,000 due to the capital’s valuable property market, while Yorkshire & Humber (-5.9%), the South West (-5.8%), East Midlands (-5.7%), and East of England (-5.6%) all provide savings of more than 5%.
Where are the most unmodernised opportunities found?
In the South West region alone there are currently 5,982 unmodernised homes listed for sale, which is equivalent to 16.5% of the national total.
This is followed by the South East (15.6%), East of England (13.4%), North West (12.6%), West Midlands (10.7%), East Midlands (10.4%), Yorkshire & Humber (10.1%), London (9.1%), and the North East (1.6%).
Director of Benham and Reeves, Marc von Grundherr, commented:
“Unmodernised properties can be snapped up at a significant discount compared to the wider market which makes them a cost effective investment for landlords who are looking for accessible ways to start or scale a portfolio.
Given the fact that the Decent Homes Standard is widely expected to soon be relaunched with tighter guidelines, many landlords are regardless going to have to start making wide-ranging improvements and upgrades to their properties. That means this is an ideal time to take advantage of the discount unmodernised properties provide.”
You May Also Enjoy
Top five AML red flags in UK property transactions
Discover Northern Ireland’s top emerging investment hotspots
Breaking Property News 13/4/26
First-time buyers pay extra £307m in stamp duty since relief ended
Rental price and average salary tracker – March 2026