The analysis is detailed in Paragon’s new Next Generation Landlord Report, which examines the aspirations of landlords with one to three properties who intend to expand.

The proportion of landlords in their 40s remained consistent, 34% in 2014 versus 32% in 2023. However, there was a notable decline in the proportion of landlords in their 50s and 60s acquiring new property.

Landlords in their 50s accounted for 29% of purchases in 2014, falling to 20% last year. Landlords in their 60s decreased from 10% to 6%. Landlords aged 18 to 29 saw an increase, accounting for 6% of purchases in 2014, rising to 10% last year.

Separate research from Paragon showed that aspirational future portfolio landlords were predominantly in their 30s. Paragon surveyed 500 landlords with up to three properties and a desire to become portfolio landlords. The average age of this group was 37.8. The highest proportion of landlords were aged between 25 and 34 (35%), followed by those aged 35 to 44 (31%).

“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,” said Richard Rowntree (pictured), managing director of mortgages at Paragon Bank. “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.