The average age of those buying investment property has fallen by more than three and a half years in the past nine months alone, according to an online lettings agency.
Yieldit, which sells tenanted properties, says the average age of those purchasing investment property through its site has dropped to 45.9 years from the previous average of 49.5 years.
In the last nine months it claims 36.3 per cent of its buyers were aged 40 or under; in contrast, over the same time period the proportion of buyers aged 60 and over was only 14.1 per cent.
“With buy to let property investment becoming an increasingly mainstream option, we are not surprised to see the age of investors falling rapidly” according to Ryan Hughes, the agency’s head of sales.
“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.”
The figures include buyers of both residential and purpose-built student accommodation investments and are based on the firm’s own sales data.