South Croydon house prices ‘among fastest rising in UK’

Tue 10 Feb 2015

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Homeowners and buy-to-let investors in south Croydon have benefited from rising house prices more than almost anyone else in the UK over the last six months.

Figures from Zoopla for the final six months of 2014 show the value of property in the area increased by 6.22 per cent. This was the third-largest rise in the country, behind only Kenilworth in Warwickshire and the Lancashire town of Barnoldswick.

With the average property in south Croydon worth £378,040 last July, it means owners of houses and flats there have benefited from growth of more than £20,000 in half a year, as the typical home is now valued at £401,542.

It is perhaps no surprise that south Croydon properties are in such high demand, with the area offering excellent transport links to central London, many local amenities and a bright future in the shape of the £1 billion Westfield/Hammerson development.

“Most price growth is typically in the first half of the year, but many areas have seen values climb further since last summer,” said Lawrence Hall, head of communications at Zoopla.

With many property owners enjoying substantial capital appreciation in recent months, at a time that is not traditionally expected to witness peak growth, plenty of Britons could now be confident that similarly positive results will be achieved in the first half of 2015.

What’s more, rising house prices are not restricted to London, as Mr Hall explained they are a reality across vast swathes of the UK, giving people in all locations the opportunity to benefit from the trend.

Samuel Tombs, senior UK economist at Capital Economics, suggested the greatest increases in house prices will be recorded this spring, contributing to a 6.5 per cent surge over 2015 as a whole.

If you would own a property in south Croydon and you would like to know how much it could be worth following the recent rises, then contact our Croydon branch today or click here to arrange a free, no obligation market appraisal.