The high cost of renting and buying a property in London has contributed to a shift in attitude towards living in the capital, with more people now moving to commuter belt locations that offer better value for money.
For property investors, a similar pattern has emerged. The figures below help to outline why so many investors are moving away from central London property investments, in favour for more affordable and higher yielding commuter belt towns like Luton.
Luton vs King’s Cross
With a direct 22-minute train linking Luton to London’s King’s Cross station, Luton has emerged as a popular choice for renters and investors alike.
For two consecutive years, Luton has been named London’s number one commuter belt hotspot by estate agent Jackson-Stops, due to its enviable location and overall affordability.
To help illustrate the value for money, Experience Invest has compared Luton’s property market with London’s King’s Cross. Based on the figures outlined the in below table, it is easy to see why Luton is a prime location for investors who wish to capitalise on the higher returns on offer away from the capital.
A very strong market outlook
According to the 2019 Savills Bedfordshire Market Overview report, Bedfordshire is one of the UK’s most exciting growth opportunities that will deliver innovation, infrastructure and sustainable economic and housing growth.
The report pinpointed Luton as a standout location for property investment. Between 2001-2011 the number of people living in privately rented property increased by 95%. With 60% of private tenants located in Luton town centre, investors can easily identify exactly where demand for property is concentrated.
Luton is one of the hottest places for property investment right now and with the following projects underway, investors stand to secure high returns from rental property in the town.
Investing in Luton
Developments like Experience Invest’s Imperial Square are in a prime position to cater to the demand for high-quality rental homes in Luton. Comprising one-and two-bedroom apartments, Imperial Square is more than just a new-build housing development.
The project has been carefully designed by award-winning developer Opto Property Group to create a condominium-style community. The development itself will feature a selection of desirable on-site facilities including secure parking, a reception and concierge, a private dining room, cinema room, club lounge and an abundance of outdoor space in the shape of landscaped podium gardens.
Speaking about the development, Matt Day, Development Director of Opto Property Group commented: “What’s interesting about this development, and what will help it to stand out on the local market in Luton, is the array of on-site facilities the resident will have access to. We have created a lot of outdoor space with ample seating in a large communal courtyard; this level of private outdoor space is unusual for new-build projects.”
For investors, the careful consideration which has gone into planning Imperial Square means that their property will appeal to the local rental market. Its prime town centre location, easy access to London and the wealth of facilities on offer will make the property a standout address for tenants.
If you are considering investing in a buy-to-let investment, click here to book a free consultation with the experts at Experience Invest. Our team of experts are on-hand to help you make an informed investment decision which suits your individual requirements.