London is a city that is ever-changing. You can always see cranes on the skyline in one corner of the capital or another. They mark regeneration projects and new developments. Some create fantastic new assets for investors. If you have a history with property investment in Croydon in particular, you will be all too familiar with this trend.

Change since 2008

Few areas in the city have had such a dramatic change in the last few decades. The development of Croydon, especially the town centre, has been stark. Before 2008 it was rare to see buildings over 5 or 6 storeys. Skyscrapers were consigned to other parts of the city.

However, the area soon became a popular spot for commuters. It had a lot going for it, including more affordable housing and good transport links for commuting into the city. The local amenities also helped draw people in.

The wave of popularity meant an influx of people and a big rise in the population. Ultimately demand for housing and office space grew. With a lack of space, the solution was to start building towers. Now, Croydon has a skyline like you would expect in a city with some notable landmarks.

Interestingly, it took a few years for the wave of property investment in Croydon to take off. You can see images from 2008 where some sites begin early stages of development. This includes hoarding going up. However, there isn’t too much change by 2014. Just a year later though and the action is underway. In the next few years towers would rise and Boxpark would take shape, opening in 2017.

House values

The developments in Croydon also had a big impact on the price of housing. According to ONS figures, the average house price in the area has grown by 92.4% in the last decade. This is just before a number of the high rise projects really got started.

To put the growth into monetary terms, the average house cost just £225,826 in 2013. This was one of the most affordable areas in the whole of London, owing to the fact it was on the edge of the city. In 2023 the average is £434,426.

Comparing to other areas in the capital shows just how popular Croydon has become. Waltham Forest had the strongest decade, with values more than doubling thanks to 116.4% growth. Barking and Dagenham also did well, with 110.60%. Interestingly, both locations began with cheaper average prices in 2013.

Areas in London with the lowest rates of growth include Kensington and Chelsea, Hammersmith and Fulham, and Westminster. These are traditionally markets with higher house prices. As a result, values only grew by between 19% and 24%.

Incredibly, only one area in the whole of the UK saw house prices lose value in the last decade. Prices in Aberdeen have fallen by 15.3% in the period.

Need help with property investment in Croydon?

Not surprisingly, Croydon remains a popular spot. People still want to live here because of the commute. The regeneration also means there are plenty of extra amenities. As a result, it attracts even more people who want to live in an area where they can have a great lifestyle.

At Finefair Ltd we appreciate why investors continue to be drawn here too. There are still plenty of opportunities, especially with housing shortages creating strong demand for rental properties in good locations. If you have these assets, you could enjoy a healthy, stable income.

Our services can be very useful here. We offer a full range of options for people who commit to property investment in Croydon. For example, you can come to us for guaranteed rent, management, portfolio reviews, and more. We can support you and ensure you can have confidence in your assets.

So, if you need some help, feel free to contact us.