Average asking price for homes in Luton

Luton is connected. Very connected. It’s a dream for public transport, popular with commuters, and the airport is a mere stone’s throw away. It’s a place of pleasant parks and elegant avenues to the north, with a bustling centre, good schools, and a liberal outlook. If you’re hunting for a place to base yourself for work in London it’s ideal, 29 miles from the capital with frequent trains into the city centre. Here’s where you find out the average house price Luton offers to people like you. Read on to know the Luton average house price, how Luton house prices have changed, and all about Luton house prices after Brexit.

How Have Average Luton House Prices Changed?

Like everywhere else in the UK, Luton house prices have changed over recent years. The average home price in Luton over the past year, according to Rightmove, is £294,209, up 5% since 2019. The current average (at February 2022)  is £297,140. Zoopla’s figures are similar. In their view the average home price in Luton is £300,529, representing sales over the past 12 months.

 Obviously when you drill down a bit there are different average prices for different kinds of home.

 

  •         Luton average house price – detached – £430,795 (Rightmove), £435,534 (Zoopla)
  •         Semi detached – £302,950 (Rightmove), £302,584 (Zoopla)
  •         Terraced house – £251,683 (Rightmove), £251,247 (Zoopla)
  •         Zoopla provides an average flat price in Luton of £152,109

 

The house price changes in Luton can be assessed for all property types using the national House Price Index. You can search the Index to reveal average price and the monthly and annual change for every kind of property, or focus on one property type. Taking Luton into account the Index shows that, in December 2020:

 

  •         The average price of a terraced house in Luton was £225,106
  •         The average price of a semi in Luton was £277,987
  •         The average price of a detached house in Luton was £414,218

 

And in November 2021, a year later, this was the Luton house price situation:

 

  •         Sold house prices Luton – terraced: £244,556
  •         Semi: £307,227
  •         Detached: £461,222

 

Average House Prices in the City

Maybe you’re working in the City of London, in the famous Square Mile, or somewhere else quite central. Rather than commute in from Luton, how about living in the City of London itself? It’s a thought… if you have the funds. As you can imagine property prices there are sky high, putting Luton’s into the shade. Average home prices in the city of London are, at February 2021:

  •         £857,227 (Rightmove)
  •         £830,818 (Zoopla)

 

The House Price Index for the city of London doesn’t provide a breakdown based on property type. But it does provide this information. It’s interesting to see such a wide variation over twelve months.

 

  •         Dec. 2020: Average for all property types: £798,309
  •         Rising to a peak of £1,109,728 in September 2021
  •         Falling to £812,914 in November 2021

 

Average House Prices Outside the City

If the thought of spending more than a million on an ordinary place to live in the City makes your hair stand on end, how about Outer London, elsewhere in the capital? According to Plumpot, the average property price in Outer London city is £552k, an increase of 6% over the last twelve months. A new build in Outer London comes in at an average of £434k.

It’s also worth looking at regional average property prices. In England and Wales the average property price outside the capital, between January 2021 and December 2021, was £345,000, up 9% on the previous year. As you can see Luton’s average prices are lower than Outer London, lower than the City, but higher than the national English and Welsh averages.

 And last but not least, what about Brexit? As it turns out, Luton house prices after Brexit did much the same as they did elsewhere in the country. According to ig.com UK house price growth slowed significantly after the EU Referendum. The average price in September 2018 was £232,554, up 3.5%. This was less than the 4.6% we saw a year earlier and less than half the 8.2% growth seen in June 2016 when the Brexit vote took place. As for the future, we simply don’t know because the ongoing impact of Brexit remains difficult to predict.

Will you move house to Luton?

Have the numbers affected your decision? Luton house price growth is on the increase despite covid but they’re far lower than you’ll pay for a comparable home in Outer London or the City of London itself, where a flat the size of a postage stamp can cost more than a million in a smart district. A short commute could make all the difference between an enormous mortgage and one that’s a little more manageable. How can we support you with our impressive property buying expertise?