Monday 10th of November 2014
The staff at Car Hire Luton Airport like the latest news about future house prices in the area.
Experts have predicted a rise in house price in Luton over the next five years. Property Company RightMove released a study revealing the increase could be as high as 41%.
The current market price for a three bedroom, semi-detatched family home in Luton is around £185,000, which stands to increase to just over £260,000 if the predictions prove to be accurate.
Commenting on the figures, Richard Yusuf, regional manager for Taylors Estate Agents said “There is definitely a demand for properties in Luton coming out of London, which is probably the main factor in this. It will be due to people moving from London as a result of wanting to release equity and also commuters looking to get on the property ladder who are priced out of London. Luton is in prime location for the London commute and is excellently linked, with train stations at Leagrave, Parkway and in the centre of the town.”
The economy of the town is already expected to improve with the Luton Airport expansion plan under way, which would double its capacity and create 5,000 new jobs over the next 12 years.