Luton: an attractive proposition for first time buyers and investors
In a recent survey conducted just before the pandemic hit by property portal Zoopla, Luton Town, Bedfordshire was crowned the most popular town in the UK for first time buyers and investors.
Where as in the past Luton may not have been a popular location to live, a combination of incoming investments over the past decade (such as Marsh Farm, £25 million shopping centre and New Century Park which is set to deliver 4000 jobs), along with its location, a town on London’s commuter belt boasting excellent road and rail links, the fifth busiest airport in the UK and an increasingly vibrant business environment is helping put Luton town on the map.
Analysis from Zoopla showed that Luton is a first time buyer hotspot and in order buy an average Luton home, first time buyers would need a household income of £47,000. Investors are attracted by Luton’s student rental market which is home to the University of Bedfordshire.
There is no denying the impact of the pandemic on first time buyers, particularly as more young people felt the effects of furlough, unemployment and reduced income during Covid-19, but as we gradually recover from the impact, Luton should still be placed as one of the most popular areas in the UK for buying a new home.