From Growth to Discipline: How Investor Behaviour in BTR Has Changed

Cameron Smith, Founder and Head of Capital Markets at Mayfair Private Office, shares his latest view on the UK Living sector, drawing on close to £500m of BTR and PRS transactions over the past two years.

He highlights a market that is more disciplined than before, but no less active, with investment committees now focused firmly on passing income and day-one yield, and liquidity concentrated in four clear areas while the rest of the market continues to stick on pricing. With capital still deep but increasingly selective, Cameron points to a sector approaching a transition point as institutions near allocation limits and prepare to broaden deployment—insights that underpin the launch of MPO’s March UK Living Sector Report: https://mpolivingreportmarch2026.netlify.app/