The average age of landlords acquiring new rental property with a buy to let mortgage has fallen over the past decade, driven by strong growth in the proportion of landlords in their 30s.

Paragon Bank analysis of industry data shows that the average age of buy to let landlords acquiring new property with a mortgage fell from 46.4 years of age in 2014 to 42.9 last year.

Data sourced from millions of Barclays current accounts reveals spending on rent and mortgages rose just 1.5% year-on-year in June – much slower than May’s uplift of 6.3%. 

The 1.5% figure is the slowest rate of growth since March 2023. In further good news for households, spending on utilities dropped 15.6 per cent due to falling energy prices, with further declines predicted following the latest price cap decrease on July 1.