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The Croydon Property Market

The Croydon Property Market
24/03/2023 James Byrne

As one of the largest metropolitan areas in South London, Croydon is known for its diverse community and excellent transport links.

Over the past few years, the area has undergone significant redevelopment, with numerous new developments popping up across the borough, most notably outside East Croydon station, as you wander past the Porter & Sorter onto Cherry Orchard Road.

Rental demand continues to soar and outstrip supply for properties of this nature so it ought to come as no surprise that we were inundated with requests from professional tenants to view this stunning one bedroom apartment on Amarelle Apartments.

The sales market is a price sensitive one and we have therefore witnessed the emergence of the accidental landlord. Often driven by necessity as opposed to choice, numerous individuals are opting to let-to-buy where equity allows, or let-to-let in other instances.

Despite The Government continuing to set mortgage interest relief against rental income at the basic rate of tax, others are all too happy to become a landlord, lured by achievable record rent prices.

For those looking to hop onto the proverbial ladder, many buyers remain undeterred by the rise in mortgage rates, especially for exceptional freehold homes. One recent three-bedroom house had 19 prospective buyers attend, 9 of whom were booked in to view, prior to a single photo being taken.

A wide array of properties has come to market. If you are not discouraged from some work, this bay-fronted Victorian three-bed house on Sydenham Road represents tremendous value for money at £390,000. At the other end of the market, Sandilands, a detached six bedroom house in the Whitgift Foundation Estate, is sure to please.

Croydon continues to prosper and outperform other housing markets. If you’re looking to buy, sell or let a property in Croydon, contact us today on 020 3973 9700.