New research by online estate agency, yieldit, has found that the average age of those buying investment property has fallen by more than three and a half years in the past nine months.
According to the data, the average age of those purchasing investment property through yieldit fell to 45.9 years from the previous average of 49.5-years under the company’s previous name of Intus Residential, a reduction of 3.6-years. Looking at the change on the level of individual age groups highlights the scale of the shift. In the last nine months, 36.3 per cent of all yieldit buyers were aged 40 or under, an increase of 11.7% over the previous figure of 24.6%.
In contrast, over the same time period the proportion of buyers aged 60 and over was only 14.1%. This represents a fall of 8.9% from the previous high of 23%.
Ryan Hughes, head of sales at yieldit said, “With buy-to-let property investment becoming an increasingly mainstream option, we are not surprised to see the age of investors falling rapidly.
“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.
“Additionally, because we specialise in selling tenanted properties at yieldit, and rental payments begin straight away after purchase, the risk of void periods is lower. This helps to bring further investors into the sector who may not otherwise have considered an investment.”