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Luton’s Housing: Tenure Make Up - Rent Levels - House Prices

Luton is located approximately 30 miles due north of London. The town has been densely built-up, with its boundaries very drawn tightly against the edge of the built-up area and is surrounded by the Green Belt and situated within the Chilterns 'Area of Outstanding Natural Beauty'. The town is often characterised as being comparable to London Boroughs and particularly its closeness to London has been a key influencer in relation the supply, demand and affordability of housing.

Housing Tenure

Luton has seen a higher than average growth in the private rented sector over the last 10 years, now standing at 23% of the entire housing stock, with the Council and other social housing providers at 17%. This level of private sector rented housing is now higher than both national and regional comparisons. The current make-up of the housing stock across the tenures is:

Tenure

%

Owner Occupier

58%

LA & RSL Social Rent

17%

Private Rent

23%

Other

2%

 

Rent Levels 

With the growth in the private rental sector, so have rent levels in Luton risen during the period 2014 to 2017. 

This compares with national figures:

luton rental market

luton rental prices

Housing Prices

Whilst Luton has traditionally experienced relatively low housing costs, it has seen a spike in house prices, the average house prices in Luton stands at £242,912, which now exceeds the national UK housing price which is £226,906, although prices remain below the average for the East of England at £286,447 and South East at £286,447.

House prices have increased significantly since 2016, and bigger houses have seen a larger increase than smaller properties, this trend continues to support the view that people are moving from more expensive areas to Luton.

 

 

 

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