Landlords are getting younger!
Wednesday 29 August 2018
The average age of new landlords acquiring property to let has dropped by ten years since 2014, according to yieldit.
The online estate agent found that the total average age of purchasers had fallen from 52.3 to 42, after analysing the demographics of its buyers over the last four years,
The drop in age is present across both residential and student buy-to-let, but is more pronounced in residential sales where the average age dropped from 57.5 to 40.9 compared to 52.3 to 44.2 in the student market over the same period.
Ryan Hughes, head of sales at yieldit, said: “Contrary to the many headlines that paint buy-to-let as being a business reserved for older people, it would seem that there is a wind of change blowing through the market which is resulting in a growing number of younger investors entering the market.
“Investing in bricks and mortar is as popular as ever and although a small number of our buyers are owner-occupiers, the majority are property investors looking for tenanted buy-to-let.
“Rising tenant demand and record house prices continue to attract a broadening number of people to the market, including a burgeoning number of first time investors.
“The figures just go to show that the classic portrait of a landlord is changing, something that we believe can only strengthen and revitalise the market.”
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