January has brought some interesting insights into the local property market, with the data reflecting a dynamic landscape in Luton (West), Chalton, and Leagrave. As we dive into the statistics from last month, our aim is to give you a friendly and informative overview to help you navigate this ever-evolving market.
Firstly, let's talk numbers. In January 2026, the average sale price of properties in our local areas reached £308,252. This figure highlights a relatively stable market, indicating that buyers are still willing to invest in the housing stock we have available. Whether you're looking to buy your first home or considering an investment property, this average price gives a good benchmark for prospective homeowners and investors alike.
Furthermore, from our analysis of 170 data points, the average price per square foot in the local market over the past six months was recorded at £353. This number gives potential buyers a clear idea about the value of properties based on size and location. With property prices fluctuating, understanding the price per square foot is key to making a well-informed purchasing decision.
In terms of market activity, we observed a sales turnover rate of 24% in January. This statistic is quite promising, suggesting that properties are moving rather briskly in the local market. A turnover rate around this figure implies that buyers are actively engaging with the market, and sellers are seeing interest in their listings. If you've considered selling your property, this could be a prime time to take advantage of the ongoing interest.
In addition to these figures, it's essential to consider the financing landscape affecting buyers. The average two-year fixed mortgage rate currently stands at 4.06%, which may influence buyers' purchasing power decisions. For many potential homeowners, securing a mortgage at this rate indicates budgeting considerations when looking for their ideal homes. While rates have risen from historic lows, they still remain relatively competitive, encouraging buyer activity in our local market.
Household income plays another pivotal role in the property market. In January, the average household income in our area was £43,200. This income level aligns with the property prices we've been seeing and underscores the importance of understanding local economic conditions. For potential buyers, it's crucial to assess how your finances stack up against the average when considering property purchases.
As we analyse these figures, it becomes clear that the local property dynamics in Luton (West), Chalton, and Leagrave remain robust. While the buyer's market can offer opportunities, sellers also have a strong position due to the good turnover and sustained demand. Both buyers and sellers should approach these conditions with optimism and strategy, tailoring their decisions to reflect the current landscape.
In summary, January has proven to be a month of encouraging statistics for anyone engaged in the local property market. Whether you are looking to buy, sell, or simply understand your options, we at Deakin-White are here to support you throughout the journey. Our knowledge of the current statistics and trends gives us the ability to provide you with the best guidance as you navigate the complexities of the property market.
As a proud member of The FIA, a network of high-quality UK independent estate agents, we strive to uphold the standards of excellence in service and expertise. If you're interested in exploring the current market further or would like to request a market appraisal for your property, please don't hesitate to reach out to us. We're here to assist you with all your property needs and to offer our insights into the ever-evolving market around you.
