More than 3,000 BTL landlords in the UK are under the age of 21, collectively earning over £66m in rental income, revealed the latest research from UHY Hacker Young.
According to the firm’s data, Gen Z landlords are the latest cohort to invest in BTL property, joining over 2.6 million other UK rental investors.
Meanwhile, the number of BTL landlords aged 21-30 operating in the sector during the 2022/2023 period totalled roughly 63,000, collectively earning £786m worth of rental income.
The 51-60 age group remains the largest segment of landlords, with 708,000 individuals declaring income from property.
In total, 1.67 million landlords in the UK are aged above 51, representing 63% of all landlords.
The number of landlords in the UK aged 65 and over has increased significantly. There are now 696,000 landlords in this age group, up 20% from 582,000 in 2018.
Despite the overall number of landlords falling by 1.7% to 2.7 million, the 65+ cohort now earns over 27% of all income earned from UK rental properties – equivalent to £11.5bn last year.
According to the data from UHY Hacker Young, the total income received from rental properties across the UK reached £41.4bn in 2022, up from £40.2bn in 2021.
Neela Chauhan, partner at UHY Hacker Young, said: “The large number of under-21 landlords show that the newest generation not only sees the value of investing in property, but also investing early.”
“BTL investments have been hit by a number of negative tax changes in recent years — however, with such a large number of investors in the UK now basing their retirement income partly on BTL property, we hope the new government won’t undermine the sector.”
