Luton has been hailed a property hotspot thanks to its status a key commuter town for those who work in London. With comparatively low house prices and close proximity to the capital, this bustling town in the county of Bedfordshire has a lot to offer. But just how much do you know about Luton?
Luton hosts the UK’s biggest one-day carnival, the Luton International Carnival. This colourful, cultural event features a wide variety of music, performance artists, and dancers that come together in a large Brazilian-style procession. It is traditionally held on the late May bank holiday.
Dating back to the 1700’s, hat-making was one of Luton’s biggest industries. Even the local football team, Luton Town FC, are nicknamed ‘The Hatters’! Although millinery isn’t the high profile trade it once was, there are still several small-scale businesses in the town still producing high quality hats.
The earliest evidence of settlements in the Luton area are Palaeolithic encampments at Round Green and Mixes Hill that date back around 250,000 years!
London Luton Airport is the fifth busiest in the UK and the fourth biggest of London’s six airports. One of the main employers in the town, the airport dates back to 1938 and was used by the RAF in WWII. They handle over 14,500,000 passengers a year and fly to 60 destinations across Europe, Northern Africa and Asia.
Yes, in the 1970s Campari ran an advert featuring the glamourous Lorraine Chase in which her response to the question “Were you truly wafted here from paradise?” was “Nah, Luton Airport.” This immortalized the town, with the quote becoming a notable pop culture reference.
According to data from LendInvest, Luton is one of the UK’s most profitable areas to be a landlord. With high rental yields of up to 6% and house prices rising 18.5% in 2015, the potential ROI for investors is certainly impressive. And thanks to an ever-growing population, demand has pushed average rents up by 10.4% since 2014 – the biggest in the UK!
Former Wisden Cricketer of the Year and two-time Ashes winner Monty Panasar is from Luton!
Modern Luton is fast becoming the first choice area for creative young professionals who commute to London for work, but want a place to live that reflects their culture and lifestyle. With the ongoing investment in the town, including projects such as Luton’s Cultural Quarter, it’s becoming an increasingly attractive prospect for investors too.