Top 25 Most Saleable Streets in Luton
Following on from my last article, if you recall I said that Hitchin Road had the most properties sold in the LU2 Luton postcode, yet I felt that this information wasn’t telling the whole story, as some roads in Luton have more properties on them than others. Therefore, I promised that I would compare the average number of properties sold by the actual number of properties on that street, to find out the streets whose owners proportionally moved (or sold) more often than the rest of the locality.
To give some foundation to the article, in 2017 Luton homeowners had, on average, lived at their existing address for 17 years and 6 months. However, when I looked at the difference between homeowners with and without a mortgage; Luton homeowners without a mortgage had lived in their Luton home for an average of 23 years and 9 months compared with 10 years and 1 month for homeowners with a mortgage. Interestingly, Luton’s Council house tenants have on average resided at their present home for 11 years and 4 months, whilst finally for those who rent from a private landlord, tenants generally have lived in their property for an average of 3 years and 11 months (up from 3 years 5 months only five years ago).
The LU2 street in the top 25 saleable streets with the highest number of households on it is Old Bedford Road, which has 609 residential addresses. Yet since 1995, only 373 properties have changed hands (some multiple times!) .. which means the street’s saleability or churn rate is 61.2%.
However, the street or road that has the highest saleability or churn rate is Earles Meade … which has 151 households on it, yet since 1995 there have been 316 house sales … a saleability rate of 209.3%. Here is the full breakdown of the top 25 streets …
So, as you can see, some interesting statistics and a lot more correlation between saleability rate and property values (unlike the article last time where we compared value to ‘out and out’ raw sales figures).
Therefore, what does this all mean to Luton homeowners and Luton landlords? Well these 25 streets are the best performing streets out of the 523 streets in the Luton (LU2) area so if you live/own a property on those 25 streets … you are sitting on a very saleable street. If you want to find out how saleable your street is .. please drop me a line and we can discuss this further.