As one of the best property investment opportunities in 2023, Luton is an exciting prospect for investors in the future.
If you want to buy a property in Luton, you can expect some affordable prices.
According to official Land Registry figures, the average property price in Luton is just £251,941.
This is an unbelievable price given the fact the town is just 22 minutes from London.
For context, Luton house prices are over £10k below the UK average house price.
They are also a whopping £504,223 below the average in London.
Compared to other popular investment locations in southern locations, Luton buy to let comes out firmly on top for affordability.
This affordability also lends itself well to rental yields, with the current gross average rental yield in Luton of 4%.
It’s unsurprising, then, that Luton was voted the best buy-to-let location for three consecutive years between 2016 and 2018, according to the LendInvest buy-to-let index.
At the end of 2020, the latest property news found that Luton housing was the number one location for first-time buyers due to its affordable prices.
This reputation has continued all the way into 2023, with Luton ranked in the top 25 buy-to-let areas alongside cities like Manchester and London, according to Aldermore Bank’s city tracker.
Overall, if you’re looking for a property close to London, you’re simply not going to find prices as low as this.
This means that if you buy a property in Luton, you’re likely getting one of the better deals in the southern region.