House prices in Luton have skyrocketed by 17% in the last year, new figures show

Figures released by the Land Registry today show that over the last year prices in the town have shot up by 17%– more than 10% higher than the national average growth.

The increase has left the average house price in Luton at £169,184.

Across England and Wales prices are rising faster in only Slough (19%), Thurrock (17.2%) and Hillingdon (17.1%).

In part the spike is down to buyers being priced out of London and opting instead to relocate to commuter hubs, property experts have said.

David Brown, chief executive of estate agent Marsh & Parsons, said: “An overall monthly dip in property prices in February disguises the fact that the majority of regions are experiencing striking growth.

“In the capital, annual growth has climbed to comfortably double the wider England and Wales average.”

Over the last 12 months prices in Central Bedfordshire have risen by 13.4%