The average age of buy-to-let (BTL) landlords purchasing new property dropped from 46.4 years old in 2014 to 42.9 years old last year, a Paragon Bank analysis of UK Finance data revealed.
This has been fuelled by a rise in the share of purchases made by landlords in their 30s.
In 2014, 21% of rental property purchases with a BTL mortgage were made by a landlord in their 30s, compared to 31% last year.
Paragon Bank’s Next Generation Landlord Report found that the proportion of landlords in their 40s acquiring new properties stayed consistent over the decade, falling slightly from 34% in 2014 to 32% in 2023.
There was a marked fall in the share of landlords in their 50s and 60s buying a new property over the period. In 2014, 29% of rental property purchases were made by people in their 50s, and this dropped to a fifth last year. The share of landlords in their 60s making new rental acquisitions declined from 10% to 6%.

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Conversely, there was a rise in the purchases made by landlords aged between 18 and 29, which increased from 6% of acquisitions in 2014 to 10% last year.
Landlord aspirations
The average age of landlords with up to three properties who wanted to become portfolio landlords was 37.8 years old. Meanwhile, landlords aged between 25 and 34 made up the highest share of respondents at 35%, followed by those aged between 35 and 44 accounting for 31%.
Richard Rowntree, managing director of mortgages at Paragon Bank, said: “There is a perception that buy-to-let landlords are an ageing group, but the majority of new purchases are concentrated in landlords who are under the age of 50.
“This group accounted for nearly three-quarters of all buy-to-let purchases last year, highlighting that there remains strong investor appetite for rental property among younger landlords.”
He added: “There has also been a strong increase in the proportion of landlords in their 20s and 30s purchasing property and these landlords will be the portfolio landlords of the future. With forecast growth in the population of 10% and significant demographic changes, it’s vital we increase the stock of rental homes to keep pace with demand.
“These landlords need a stable fiscal and regulatory environment to encourage continued investment into the sector.”
Speaking to our sister title, Mortgage Solutions, this year, Paragon Bank said it was simplifying its range to make it easier for landlords to do business with the lender.
This article first appeared on our sister site, Mortgage Solutions, here.