Buy To Let Investors Are Getting Younger
The average age of buy to let investors in the UK has fallen by 3.5 years over the past 12 months, one online estate agency says.
According to yieldit, the average age of a BTL investor using their services has fallen from 49.5 years to 45.9 years.
Also, there's been a shift in the age groups, with 36.3% of all buyers being aged under 40, a rise of nearly 12% over the same period.
Proportion of BTL investors who are aged over 60
In contrast, the proportion of BTL investors who are aged over 60 was 14.1%, a fall from the previous 23% high.
The firm's head of sales, Ryan Hughes, said: "With BTL property investment being a mainstream option, we are not surprised that the average age of a buy to let investor is falling.
"Whereas the market was dominated by cash-rich buyers previously who tended to be older, the range of mortgage products now available is helping to democratise the market making it accessible to more people.
Tenants reveal new accommodation priorities
Meanwhile, a new survey has revealed what tenants in the UK are looking for from their rental accommodation.
The findings from property consultants Knight Knox found that most tenants are looking for a garden or balcony with 46% wanting an outdoor space.
In second place, with 41.5%, is on-site parking and the third most requested feature, for 23% of people surveyed, is for a modern interior. Less popular were luxury amenities such as on-site gyms.
Affordability was an important issue for 40.8% of tenants and their home's location was, for 24.5%, a priority.
'Renters put an emphasis on having essentials'
The firm's commercial director, Andy Phillips, said: "The results give an insight and confirm what we believe to be true, and it's clear that renters put an emphasis on having essentials like a good location and outdoor space.
"The findings are worth considering for those looking at a buy to let investment."
He added features such as gyms are being seen not as a necessity, but as a luxury.
The survey also highlights the 59.3% of tenants are satisfied with their property, saying it's good value for money with 29.7% saying that they will only stay in a rental home for an average of 9 months and up to three years.
Just 23.5% said they were planning to remain in their home for at least five years.