London commuter towns have seen annual price growth well above the UK average in the past 12 months putting them firmly on the radar of investors interested in high capital growth prospects.
Seven commuter towns in particular are currently seeing double digit house price inflation annually, according to figures released by the Land Registry, which suggests something is happening to drive up demand for property and increase prices.
The reason of course is the comparatively higher cost of property in and around London and the equally high rents demanded.
This has naturally pushed those who want to live and work in the city without the high cost of housing further out towards towns such as Luton. Property prices in Luton have risen by more than 18% in the past 12 months alone and the upward trend is likely to continue with Luton being less than 30 minute’s commute by train to the capital.
People are more likely to opt to live in towns like Luton where property prices are lower than other satellite commuter towns and journey times into the capital are faster
A comparison of journey times by town is shown below:
As the table shows, it takes 29 minutes to travel from Luton to London by train, which is bettered only by Stevenage which has a significantly higher average property price.
A comparison of house prices in each of the seven regions is shown below:
The chart reveals that out of this selection of London commuter towns, Luton has the lowest average property prices while Reading has the highest.
Luton made up some considerable ground on other towns between 2015 and 2016 as prices went up 18.20%.
A combination of factors including relatively low property prices for the region, close proximity to the capital and some of the highest house price inflation in the country make Luton one of the country’s newest property investment hotspots within a commutable distance to London.