Current Real Estate Market Trends in Croydon

Current Real Estate Market Trends in Croydon

We know the housing market can feel a bit like a rollercoaster sometimes, especially in Croydon lately. So, we’re here to give you the lowdown on what’s happening and help you make sense of it all.

The Croydon Story: A Bit of a Dip

House prices have taken a bit of a tumble, down 1.2% from last year. That’s a stark contrast to the rest of the UK, where things are looking much better. London, in particular, is booming, with prices up 3.9% just from April to May this year.

We know this isn’t the news Croydon homeowners and sellers want to hear. The average house price has dropped by £4,900 over the past year. Flats have been hit particularly hard, and even detached homes haven’t escaped the downturn.

The Silver Lining: Opportunities for Buyers

But hey, every cloud has a silver lining, right? For first-time buyers and investors, this dip in Croydon’s market could be a golden opportunity. Imagine snapping up a property in London for significantly less than the average price. That’s the reality in Croydon right now.

Plus, let’s not forget the rental market. Rents in Croydon have actually gone up by a whopping 10.8% in the past year. So, if you’re thinking about becoming a landlord, now might be a good time to consider Croydon.

Why Is Croydon Different?

You might be wondering why Croydon is bucking the national trend. Well, a few things are at play. There’s been a surge of new housing developments in the borough, which has increased supply.

At the same time, buyer preferences have shifted. People are looking for more space and greenery, something Croydon, with its urban vibe, might not always offer.

What Does the Future Hold?

The truth is, no one has a crystal ball. The future of Croydon’s market is a bit uncertain. But we’re optimistic. Croydon has a lot going for it—great transport links, a vibrant community and plenty of potential. With a bit of investment and some smart planning, we believe the market can bounce back.

We’re Here to Help

At Livin Estate Agents, we’re not just about buying and selling houses. We’re about helping people find their perfect home, whatever the market conditions.

If you’re thinking about buying, selling or renting in Croydon, give us a call on 020 8050 2709. We’re always happy to chat and offer our expert advice.