As house prices have risen faster than rents over the last three years, most landlords have seen their returns squeezed, but many have benefited from capital appreciation. Over the last five years the average landlord saw their yield fall by 0.8% to 5.3%. But landlords haven’t been equally squeezed. The top 10% of landlords who achieve 50% more than the average investor have been hit far less hard. This group of ‘super-lords’ saw their returns fall by just 0.4% over the same period to a still healthy 7.9%.