Editor's note: This brief was summarised by The Property AI Team from a report by Property118. Read the original article for full details.
Millennial and Gen Z Landlords Expected to Transform PRS
Britain’s landlord base is set for a generational overhaul, according to research reported by Property118. Millennials are forecast to account for 44% of landlords and Gen Z 18% within a decade.
Currently, Boomers and Gen X (those born between 1946 and 1980) make up 54% of landlords. The research indicates that this share is expected to fall as younger generations enter the market.
This shift in landlord demographics could have implications for the private rented sector (PRS) in the UK. Letting agents and inventory clerks may see changes in landlord expectations and management styles as Millennials and Gen Z become more prominent in the sector.
The report highlights the ongoing transition, noting that it will not be a complete handover, as older generations will still retain a significant presence among landlords.
Source: Property118