Luton: the UK’s most profitable town for buy-to-let investment.
As property prices in London continue to rise many buy-to-let investors and landlords are looking further afield to seek opportunities in more affordable areas and towns – such as the popular commuter belt town of Luton.
Situated just 30 miles north of London, Luton has been growing in popularity for many years, and has recently been named the UK’s most profitable destination for buy-to-let investment by Lendinvest. Their buy-to-let index ranks locations across the country based on buy-to-let performance indicators including rental demand, capital appreciation potential and market forecasts.
According to the index, rental prices in Luton have experienced growth of 9.58% in the past 12 months, with landlords now seeing an average rental return of 4.81% per annum. This rental growth is accompanied by significant property price increases resulting from the town’s growing reputation as a UK buy-to-let investment hotspot.
London’s ‘commuter belt’ towns have been increasing in popularity for many years now. With typically high rental rates in the city, many renters are choosing to live just outside of the capital and commute to work. With connectivity between Luton and London set to improve even further with upcoming improvements to rail services taking place in 2020, Luton is in a prime position to become the destination of choice for professionals working in the capital.
According to The Office for National Statistics, property in Luton saw price increases of 21.8% in 2016, with these price rises showing no signs of slowing down. Prices in the town as forecast to increase 41%by 2019, providing investors buying property in Luton today with an outstanding return on their investment in the coming years.
Park Crescent Apartments, Luton
Luton’s latest residential development, the Park Crescent Apartments presents a remarkable investment opportunity predicted to generate approximately 6% rental yields per annum (significantly higher than the town’s average). The development is situated just metres from Luton Rail Station and is a perfect example of the connectivity which makes the town such a popular destination, with just a 23 minute commute into London St. Pancras station.
The four storey building offers exceptional quality apartments, finished to a high specification and sold with a 10 year warranty and 250 year lease. Interiors are modern and fully furnished and provide luxurious living with a uniquely affordable price tag.
With a well-connected location and a high quality property offering, the Park Crescent development epitomises the attributes which have made Luton the UK’s most profitable region for buy-to-let investors.
There are just 39 properties for sale within Park Crescent, with high demand expected. So don’t delay, contact our team on +44 (0)1202 765011 or email [email protected] for full details.