Property expert and MD of Sell House Fast, Jack Malnick has shared his thoughts on how Universal’s plans could impact Bedford’s local economy and housing market:
“Universal’s announcement has certainly garnered a lot of attention, and locals are right to question if the 2031 park launch is good news for them.
I’d be wary of Universal’s early optimism; their plans to begin construction in 2026 feels highly unlikely given the way the UK planning system works! I’d expect the start date to be pushed back, giving locals a little breathing and decision-making space.
The floods of visitors that the theme park will attract is likely to drive out locals but increase the number of holiday homes and rental properties near to the site. Whilst this may attract local investment, it’s likely that much of Bedford’s properties will be purchased by investors outside of the local economy, meaning locals are likely to see little benefit from the property ‘boom’.
With the demand for short-term accommodation set to spike when the park eventually opens, rents will climb and the properties offering a higher rental yield will likely command a higher sale price - which is good news for the owners of holiday rentals or Bedford homeowners looking to make a return on the 2031 opening.
Universal have pledged to create 28,000 jobs once construction begins. This employment opportunity is likely to attract people from across the UK. Again, landlords will benefit from this influx whilst local residents who currently rent may be priced out as rents spike with demand.
In short, the opening of Universal’s first UK theme park will be good news for landlords and homeowners looking to profit and not necessarily remain in Bedford. It’s bad news for those currently renting in the area, as competition for accommodation is set to peak and landlords are likely to want to cash in. The holiday rental market will boom amid the displacement of locals and housing sales may stall as more homeowners decide to rent out their homes."