In recent years due to its proximity to London via road and rail as well as the international airport, Luton has seen considerable interest from property investors. The city is in fact undergoing a major renovation with the launch of an ambitious £1.5 billion inward investment programme and has attracted £4 billion in funding infrastructure and private development – the largest investment for any town in the UK. Luton is seen as the ‘engine of growth’ and a priority for economic regeneretion, improving the skills base of local people and making the most of its proximity to London.
The population is growing faster in Luton than the national average and is projected to continue to grow many years to come. Central Bedfordshire residents have the highest average earnings in the sub-region. Nearly 80% of the housing stock is owner occupied and there is less social rented stock than elsewhere in the sub-region. This suggests that high income households and retirees are taking advantage of the higher quality of life offered in this area. As a result of all these factors new property development is on the rise with a growing number of new property and renovations of existing property creating an investment hotspot for the area.