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Monday, December 19, 2016

Landlords join the long, very long, list of things that are getting older

The UK's Council of Mortgage Lenders has released a report that contains, amongst many things, a profile of people in the UK owning and renting properties and how that has changed over time.

If you are a Millennial, living in rented property and paying much of your salary in rent, then this is not going to make you happy. What it will do is confirm your views about the inequality between the generations.  

The 'bottom line' is that private landlords are an ageing group. The cohort who invested in property in 2004, when the last research was conducted,  is still largely invested in the sector -- almost 40% of 'buy to let' landlords said they had purchased their first property at least ten years ago.

In 2004 the bulk of these landlords were aged between 35 and 54; those individuals today would be aged between 47 and 66 and indeed this is the age of the majority in the survey.

In 2004, 45% of landlords were relatively young (under 45), but only 20% of landlords surveyed in 2016 are in these younger age groups.

From a marketing perspective there is not a great deal that you can do with this information other than to confirm an doubts that you had that wealth is increasingly residing with older people. A big BUT, you will find that most of this wealth resides with a small proportion of the age cohort. Dick Stroud

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