Landlords are getting younger
The average age of those purchasing investment property through yieldit fell to 45.9 years from the previous average of 49.5 years under the company’s previous name of Intus Residential – a reduction of 3.6 years.
Looking at the change on the level of individual age groups highlights the scale of the shift. In the last nine months, 36.3 per cent of all yieldit buyers were aged 40 or under, an increase of 11.7 per cent over the previous figure of 24.6 per cent.
In contrast, over the same time period the proportion of buyers aged 60 and over was only 14.1 per cent. This represents a fall of 8.9 per cent from the previous high of 23 per cent.
Ryan Hughes, head of sales at yieldit, said of the figures: “With buy-to-let property investment becoming an increasingly mainstream option, we are not surprised to see the age of investors falling rapidly.
“Whereas the market was previously dominated by cash-rich buyers who tended to be older for obvious reasons, the sheer range of mortgage products available now has helped to democratise the market and make it accessible for many more people.”
Richard Truman, Head of Operations at Simple Landlords Insurance added: “From our perspective landlords are changing with the market, and we’re seeing a new breed of young, professional investors coming in.
“In our recent Emerging landlord report we found one in 25 landlords is now between 18 and 24; around one-in-four are under 35.
“Property is still a great way to make money, but it’s a very different business than it was 20 years ago, with very different rules and returns. Younger landlords are set up and ready to play by those new rules.”