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Croydon is the new place to buy according to Foxtons

Leading Estate Agents, Foxtons, have highlighted how investors are noticing the amount of opportunities that are further afield that just central London. They go on to state that there has been a ‘resurgence in Croydon, with a boost to the infrastructure in areas such as leisure, entertainment and employment, which his has attracted home buyers making Croydon one of `the’ places to live in the coming years.’

Once you have visited Croydon, it’s easy to see why many are making it their new home. With countless bars, pubs, restaurants, vibrant markets and local galleries, Croydon has a lot to offer! The area is also home to Albert’s Square: a Michelin-starred restaurant serving innovative British inspired food that uses the best local produce available.

In terms of nightlight, those who are adventurous can head to to Bad Apple. The club has been the winner of the ‘Best Late Night Venue’ at the Best Bar None Awards for the past two years, as well as winning ‘Best Customer Experience 2014’.

Foxtons have highlighted how infrastructure changes have increased the demand to live in Croydon to new heights. With prices having increased by 23% over the last 12 months, the future ‘looks bright for any forward-thinking investors’. Despite the stats, When you add to this the 20-minute train ride to London Victoria and London Bridge, the location couldn’t be better for those working in the city.

From an investors perspective, the observation of these demographic changes to Greater London makes interesting research. The rental market remains strong as many of the millennial generation choose to rent as their job requires mobility.

According to research from JLL, August – September saw a 49% increase in tenancies starting in June and July, and on average, saw 3.3 new tenancies beginning everyday.

The good news for buy-to-let investors continues as tenancies are tending to be agreed within hours of the property coming to the market.

Key Facts:

Price of an average property in London has increased by 44% since 2008

Fastest growing London borough – Croydon

House prices in Croydon have increased by:

320% in 20 years

35% in 5 years

11% in 12 months

The average property price in Croydon – £300,000

Inspired Homes start at – £234,950

To find out more, please contact Inspired Homes on 020 7495 0523.

Read the full article by Foxtons here –

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