Luton has long been a popular place to live, being in close proximity to London and having both a University and airport providing international flights.
Over the decade of 2010 to 2019 a total of 46701 houses were sold according to Land Registry data.
This article aims to identify some of the key trends that occur in house prices in Luton both in terms of house price brackets, but also how transient each post code area is - in other words, which post code areas had the highest number of house sales.
Luton house price data by price bracket
Chart of Luton house sales price data for years 2010-2019
The decade started off quietly with just 3669 house sales in 2010 - perhaps not surprising given that the global financial crisis was still recent history. This compares against 4457 house sales in 2019 - an increase of more than 20%.
The busiest year was 2014 with 5565 sales in total, closely followed by 2015 at 5445 sales.
At the beginning of the decade and the lower end of the market the cheapest property went for less than £30,000, with 98 properties under £100k sold during 2010. Fast forward to the end of the decade and just 21 houses sold for less than £100,000, only one of which cost less than fifty thousand pounds.
Looking at the more expensive properties, and just 2 properties sold for over £1 million in 2010 the most expensive of which fell in the £1.25-£1.5 million price bracket. By 2019 this had changed significantly, with 13 house sales of more than £1 million, the most expensive of which was in the £2 to £5million price bracket.
This is a more than 5-fold increase in houses sales over £1 million in just ten years.
Luton house price data by postcode area
Chart of Luton house price data by post code for years 2010-2019
In terms of transiency, the volume of house sales in a particular postcode district, the LU7 district representing Leighton Buzzard was consistently the area with the highest number of house sales representing nearly a quarter of all houses sales in the LU postcode area at 11367 sales for the decade. This can be expected with significant numbers of new build properties becoming available over the last 10 years.
Luton East, represented by the LU2 postcode district, had the second highest volume of houses sales at 8186 over the 10 year period, followed by Luton North (LU3) at 6493.
The two Dunstable postcode areas LU5 and LU6 were next, with 5785 & 5531 total sales respectively - however, this was also the area with the greatest rate of growth over the decade, with around 370 sales each in 2010, increasing to over a thousand sales in LU6 in 2019 and more than 500 in LU5.
Real time Luton house price information
If you are interested, you can see what the current selling prices for different types of houses & flats for sale in Luton are here on the Propertyheads website, including 4 bedroom houses for sale, 1 bedroom flats for sale and also houses and flats to rent.
We also have a number of Luton estate agents who are available to chat through your property needs using our innovative messaging facility.
Added: May 15, 2020 11:06:41