Orion is a new buy to let investment opportunity in Luton town centre.
The Orion is a buy-to-let investment opportunity consisting of 67 one-and-two-bedroom apartments starting from £179,900. Luton is one of the fastest growing towns in terms of property prices, and by the time the development is completed in Q4 2020 prices are due to elevate to £202,308. This means there is room for capital growth before the development has even been completed as property in the town is in such high demand.
Luton is the most affordable London commuter town and there are 615 trains running between Luton and London every day. The fastest route takes just 22 minutes into London St Pancras, making London fast and convenient to reach.
Not only does it boast excellent travel links to London, the city itself is also dramatically improving. In 2016 a £1.5billion programme was announced to improve the town over the next twenty years. The improvements include a new football stadium and housing, a revamped shopping centre and 70 acres of commercial space. As the town becomes more desirable and people are being priced out of London, there is certainly room for capital growth, and the town as experienced the beginnings of that already.
Luton has an overall average house price of £261,124 making it one of the most affordable commuter towns for London, the affordability has increased its appeal as house prices have increased by 13% since 2016. Comparing that to London where the average is £727,767 and prices have only increased by 5% since 2016 and you can understand why people are choosing to invest in Luton where prices are lower but rising at a more rapid pace.
Luton’s population is also increasing at a faster rate than they are building houses in the town; with approximately 430 houses being built a year yet needs 1417 houses to be built to meet demand. This means that there will be increased pressure on existing housing which will have a positive effect on rental yields.
Contact us today to learn more about this Luton buy to let opportunity or other buy to let opportunities across the UK.