Landlords and investors with investment properties in Croydon will appreciate the latest news. Data from Rightmove shows that interest in renting in the area continues to be very strong. It comes as more and more people look to the outskirts of London because of high prices and a huge amount of competition for housing in central areas.
Huge demand
Interest in living in Croydon first began to grow during the height of the covid-19 pandemic. It was here when lockdowns and a change to working from home made people reconsider where they would prefer to live. For a lot of people, the answer was a more suburban or rural setting with more green space and homes that have gardens.
Croydon was one of the most popular spots, particularly for people who were living in Inner London. It has a great mix of homes, more green open space, and some fantastic amenities. The countryside is easily accessible, especially to the South East. At the same time, it is still just 20-30 minutes to commute into the city.
There were concerns that demand would cool off as the UK began recovery from the pandemic. However, there has been another surge in interest. This time it comes as the cost of living crisis hits hard. More people now want to live in Outer London where prices are lower.
Croydon as a whole has had really impressive demand for rental properties. However, there are two spots that deserve specific mention. Coulsdon has seen a huge 228% increase in demand in the last year according to Rightmove data. Purley had a 115% rise.
Coulsdon
This is definitely one of the spots you should consider if you are looking at investment properties in Croydon. The high demand for renting means you could have the chance to buy and then find tenants quickly. In fact, there is such high demand for rental homes that people are often prepared to pay above the usual £1,200-£1,300 per month asking prices.
There is a lot to love about Coulsdon, hence the popularity. As we said above, it has a lot of green, open space including a number of parks. There is also the Farthing Downs with its wonderful scenic grassland and trails. At the same time there are three railway stations, an impressive high street, and some good schools.
Purley
This area is a little further north of Coulsdon. It is famous for being a quintessential suburban spot and urban district. You can find spacious homes with plenty of green space. There are even a number of exclusive gated estates.
Again the area has really good connections to Central London. There are four stations if you include Purley Oaks. Plus, drivers have easy access to the A22 and A23. The latter goes north to Croydon and on to Central London.
Think about investment properties in Croydon
Finefair Ltd understands why areas like Croydon are so popular. That is why we operate here and give landlords and investors access to our excellent services. Whatever you choose to invest in, from large family homes to apartments, we can help. You can trust us to act professionally and give you the best benefits.
So, speak to us today if you have any involvement with investment properties in Croydon. It could be a single property or a full portfolio. Either way, we can work with you.
