More young people are investing in property and some could be picking it over more traditional options such as pensions.
New research by mortgage broker Commercial Trust has revealed the two age ranges that have witnessed a year-on-year rise in the proportion of all buy-to-let mortgage applications since 2015 are 20 to 29 years old and 30 to 39.
It also noted that over the same period of time there has been a decline in the share of the market taken by people aged over 60.
Allison Thompson, managing director at property specialist Leaders, says: “The study suggests that young people are increasingly realising the numerous benefits associated with investing in property and are acting decisively to start their own portfolios.
“While the largest share of the buy-to-let mortgages market is made up of 40 to 49 year olds, it is the younger groups who have taken the greatest strides in the last three years. The UK’s property market has proved its strength and resilience and this makes it an ideal safe bet for investors.
“Some people may think buying to let is exclusive to older, wealthier people, but the figures show people of any age can get a foot on the ladder and enjoy the perks of being a landlord for years to come.
“Investing in property delivers a tremendous return in a multitude of ways, from substantial rental income to medium to long-term capital growth. Property prices in the UK have risen by 22 per cent in the last 10 years, illustrating just how much people stand to gain by investing in bricks and mortar.”
The statistics show the proportion of buy-to-let mortgage applications made by 40 to 49 year olds has remained consistent in recent years, with just a 0.8 per cent fluctuation recorded across the last 36 months.
For more information on investing in property contact your local Leaders branch.