Investing in properties in East Croydon as opposed to West Croydon.
If you have been toying with the idea of investing in properties in Croydon then read on to learn about the most lucrative methods to increase your return on investment.
To make it easy, remember the number one rule in real estate; Location, Location, Location.
Croydon is the perfect place to start your property investing venture, more specifically East Croydon.
With Box Park, new buildings and Westfield on the way, it’s no wonder that white-collar professionals are eyeing up East Croydon as their next home.
Especially with new apartment blocks such as Saffron Square. The development is complete with a gym and pool and has breathtaking city views of Croydon and beyond.
A lot of the time, people that reside in East Croydon have no plans of moving from the area, as it is considered the ideal place to reside for all kinds of families, professionals and elderly citizens.
East Croydon is in the catchment area for many schools and it is the home of the British School of Arts and Performance. It is ideal for those that want to be simultaneously close to the city and close to green landscapes. Both types of locations are easily accessible.
It is also a known fact that East Croydon is by far a better-kept area, making it much more desirable to reside in as opposed to West Croydon, which is carpeted in litter as a result of being overcrowded. In addition, there are fewer transport connections, rendering it a nightmare for professionals that rely on public transport to commute to work.
There are fewer job opportunities, there are more convenience stores than any other type of business. Residents in West Croydon are also on the receiving end of endless traffic, with narrow roads making it a nightmare in travel in and out of the area. Properties in West Croydon are generally smaller and lack driveways. Although there is on-street parking, it is extremely tiresome for residents to find a place to park, sometimes quite a distance away from their home. West Croydon tends to be a place to reside in for convenience while saving and looking out for properties elsewhere.
What is the market value for East Croydon and West Croydon?
The value of properties in East Croydon has gone down by -5.4% in the last 12 months (Zoopla)
The value of properties in West Croydon has gone up by 34.65% in the last 12 months (Foxtons)
These numbers are certainly subject to change, as a result of various factors. The above stats show that this is the best time to invest in properties in East Croydon while the market value is currently low as we can expect to see the market value pick up drastically once Westfield in Croydon is completed and South Bank University opens.
How will investing in a property in East Croydon play out in the long run?
The new opening of Westfield should see a rise in East Croydon property market value, as it would open up new job opportunities as well open up new attractions and entertainment, making it the perfect location for raising families.
In early 2019 it was revealed that Croydon will be having our own University soon. London South Bank University has proposed to open a new branch in the Croydon area which will be a fantastic opportunity for landlords that require rental properties filled as students will require accommodation. It’s worth noting that as a result of the new university the value of local properties will inevitably increase, so there is no better time to invest than the present moment, as well as the bonus opportunity to house a young person while they receive a higher level education in Croydon.
There are also plans in place to renovate the infamous Fairfield Halls, which will be a £30 million pound project, which consists of turning it into a theatre and performance academy.
East Croydon is by far the ideal location to get returns for property investors, as the endless variety of local amenities are reflected in the value of nearby properties, while also being a key selling point for renters. The convenience of being a 15 minute train ride from major stations in Central London, makes East Croydon a dream town for professionals, rendering it nothing short of a property goldmine for landlords. In addition, it has been announced that East Croydon will soon have easier connections to prime business locations such as Canary Wharf and East End.
Thinking of investing?
Visit hydeandrowe.co.uk to learn more about investing with us. We will also be hosting Landlord Income Seminars after our last successful event and we would love for you to join us!
It’s an excellent opportunity to network with other landlords as well as learn how to maximise your income and become a successful landlord in South London.
If this sounds interesting, why not drop a line at [email protected] to request more information, or give us a call on 020 8686 1799.
We can’t wait to hear from you!
Thanks for reading.
The Hyde & Rowe Team.
Check out all our latest blogs https://hydeandrowe.co.uk/blog/