Investing in property, as a long term investment, is appealing to more people in their 20's than ever before, according to research by The Mortgage Business.
One in ten buy-to-let customers last year was in the 20-29 age bracket. The highest percentage was in the 30-39 age group, accounting for 40% of all buy-to-let lending. About 50% of investors were under the age of 40.
Young investors are becoming more prudent by putting down larger deposits for buy-to-let properties. The Mortgage Business said that buy-to-let is growing in popularity among younger people, which may indicate that people are more willing to invest in property rather than traditional stock market investments and also indicates that people these days are earning higher salaries.
Despite fears of people getting their fingers burnt by jumping on the buy-to-let bandwagon, it is encouraging that people are becoming more prudent by putting down larger deposits, which offers them more security.