The average age of UK landlords has decreased, with 47% of landlords now aged under 40.
This figure compares to just three years ago (2018), when only 29% of landlords were aged under 44. The insight, from property investment company Knight Knox, shows that people are investing in rental properties from a younger age and they’re also making more money from rental income than their older counterparts.
Knight Knox, which specialises in the sale of off-plan buy-to-let properties for the private investor market, surveyed 500 private landlords in March 2021 with One Poll.
The average income per year is highest for the very youngest landlords, with those aged between 18 and 30 generating an average £25,481 a year, according to a research base of 500 private landlords.
Andy Phillips from Knight Knox has commented: “Landlords in the UK are getting younger and they’re more willing to invest in the market in order to grow their portfolios quickly. It’s really quite remarkable to find that almost half of British landlords are aged under 40 and shows that property investment isn’t exclusively for the elite.
“In 2018, 50% of landlords were aged over 55. Our latest research shows that this has declined to just 26% being aged 51 or over. The face of modern landlords in the UK is changing and it’s the younger generation which is seeing the greatest opportunity.”
The research also showed that younger landlords are more optimistic about the future. 54% of those under the age of 30 involved with the survey were ‘very confident’ about the market predictions for the next 12 months – compared to 15% of over 51s who said the same. 47% of under 30s plan to buy another house within the next year.