Average age of buy to let proprietor falls dramatically
The average age of the buy to let proprietor has dropped from 52.3 years in 2014 to 42 years now.
Rental property website YieldIt says that whilst property investment has traditionally been viewed as a business for older generations who benefit from already having a foothold in the market, this new data suggests a change.
Further analysis of the numbers shows that the drop in age of the buy to let proprietor is present across both residential and student buy to let, but is more pronounced in the former sector where the average age dropped from 57.5 years to 40.9 (2014 to 2018) compared to 52.3 years to 44.2 in the student market over the same period.
“Contrary to the many headlines that paint buy to let as a business reserved for older people, it would seem that there is a wind of change resulting in a growing number of younger investors entering the market” suggests YieldIt head of sales Ryan Hughes.
“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, including a burgeoning number of first time investors” he adds.
He says the increasingly young buying profile would strengthen and revitalise the property investment market.