According to figures released from Rightmove, Croydon tops the list of first time buyer hotspots with the biggest price growth for starter homes.
Their figures revealed an 18.6% increase in the price of first time buyer property coming to market compared to a year ago, the highest in the capital.
Commenting, Miles Shipside, Rightmove director and housing market analyst, said: “The country’s top price-rise hotspot is Croydon, where Londoners priced out of some other parts of the capital have sensed a combination of convenience and value, aided by some serious regeneration.”
Now a humming centre of culture, arts, business, shopping, and entertainment, Croydon has developed a big following amongst young Londoners. Croydon used to be referred to as the ‘new Shoreditch’ in jest, but with a new Boxpark and the fastest-growing tech cluster in London, few are laughing now. Businesses are moving into the area to take advantage of modern, versatile work spaces such as TMRW and Croydon’s young, tech savvy community.
With £5.25 billion invested in Croydon’s regeneration, the arrival of the new Westfield shopping centre in 2020 will elevate the area to the next level. Residents will have on their doorstep a £1.4 billion world-class retail and entertainment facility, making Croydon the envy of South London. It’s no wonder there has been so much interest from first time buyers.
We’ve always realised Croydon’s potential and are extremely active in the area with new developments including Impact House and Coombe Cross, where we have a Help to Buy launch tomorrow between 10am and 3pm.
Prices for our Croydon apartments start at just £292,950 and using Help to Buy London a home could be yours with just a 5% deposit and mortgage for 55% of the purchase price.
To find out more about Croydon and our apartments or to book an appointment at tomorrow’s Help to Buy launch, please contact the sales team on 0208 688 6552.