Landlords are getting younger, new data shows
The average age of landlords acquiring rental properties through buy-to-let mortgages has decreased over the past decade, as new data reveals a surge in younger investors. Particularly, landlords in their 30s have become a dominant force in the property market, marking a significant shift from previous trends.
Younger Landlords Leading the Market
According to Paragon Bank’s analysis, the average age of buy-to-let landlords purchasing property has dropped from 46.4 years in 2014 to 42.9 years in 2023. The growth of landlords in their 30s is particularly notable, with their share of purchases increasing from 21% to 31% over the same period.
Shifting Demographics in the Landlord Market
While landlords in their 30s have become more prominent, there has been a notable decrease in older investors. In 2014, 29% of landlords in their 50s purchased buy-to-let properties, but that figure dropped to 20% in 2023. Similarly, those in their 60s accounted for 10% of purchases in 2014, falling to just 6% last year.
Future of the Private Rental Sector
This increase in younger landlords bodes well for the future of the Private Rented Sector (PRS). Many of these investors, especially those in their 30s, express aspirations to grow into portfolio landlords, owning multiple properties. As Nottingham estate agents, we understand that the city's rental demand is high, particularly among young professionals and students, making it an attractive market for these budding landlords.
Moreover, the tangible nature of property investment is appealing to younger generations. In an age dominated by digital assets, many first-time landlords appreciate the stability that brick-and-mortar properties offer. The reliability of property as a long-term investment continues to draw new landlords into the market, ensuring a steady supply of rental homes.
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Supporting New Landlords in Nottingham
At Comfort Estates, we’re proud to support new landlords entering the market. As a Nottingham estate agent with years of experience, we offer invaluable guidance on property investments, ensuring landlords find the right opportunities to grow their portfolios.
As the demand for rental properties continues to rise, we are here to help navigate the complexities of buy-to-let, providing expert guidance tailored to Nottingham’s unique market. For landlords looking to invest, Comfort Estates is the Nottingham estate agent you can rely on to make informed decisions in this ever-evolving sector.
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