For the property investor seeking a lucrative buy to let opportunities in London, 1 place that warrants consideration needs to become Croydon. With purchase costs in certain parts of the London borough lower than much of the rest of the capital, and with returns averaging a healthy 4.5 percent, and a multitude of prime location benefits, it actually is well worth discovering what home investment in Croydon has to offer you.
Croydon forms a part of the Greater London region and is the second-largest London borough with a population of about 385,000.
What can investors expect from home prices in Croydon?
Looking at investment land for sale in Croydon, whilst Greater London is known to control one of the maximum investment levels for buy to let landlords, the truth is that Croydon sits third among the cheapest places to purchase the property.
HM Land Registry data shows the average land price in Croydon is 367,500. However, for those on the watch for a lower cost investment, there’s a beginning price of around £100,000.
Rent-wise, the Croydon Market Rent Summary reveals that landlords could control an average rental fee of 1,240 per month. Family homes of three bedrooms typical £1,679 and 2 bedrooms £1,393. A one-bed property can achieve £1,066 per month.
Yield shrewd, investors are looking at 3.9 to 4.8 percent, based on Liveyield, which compares well to the rest of London.
What brings tenants to live in Croydon?
Croydon is one of London’s fastest-growing economies at 3.7 percent above average and is reported to have the 2nd fastest growing local market in the whole of the UK.
Sitting at the northern tip of the Gatwick Diamond, Croydon is a flourishing business community and important economic hub for the southeast of England offering a significant range of employment opportunities.
There are just a few places that boast the rich transport links that Croydon does. Actually, this area is one of the best-connected metropolitan zones, served by four railway stations and a lot of big road links such as the M23, M25, and the A23.
Amenities and leisure shrewd, the area is brimming with green spaces, retail, arts and leisure facilities, and superior schools. The London Borough of Culture award will see £1.35 million in financing supporting a year-long program of events, placing culture in the heart of the community. Plus there’s the Croydon Partnership project, set to inject £1.4 billion into transforming the town into one of the UK’s top ten shopping destinations by 2023.
What kind of property is typical in Croydon?
If it comes to investment land for sale in Croydon, there is quite a diverse range available.
Central Croydon is usually populated with traditional terraces and a couple of newly build apartment blocks.
North Croydon will attract people who have a requirement or desire to reside in London, but that is looking for better value. Thornton Heath, South Norwood, Broad Green, Selhurst, and Norbury are some of the most popular areas.
Over in East Croydon, in areas such as Addiscombe, Shirley, and Long Lane Wood, this is where you’ll find lots of green areas, and farther out to Addington the region gets semi-rural, although transportation links certainly don’t suffer courtesy of the London Trams network.
Property forms here are rather a mixture, ranging from value to high end. Buy to let investors are wise to opt for locations with good accessibility to East Croydon Station and Norwood Junction Station to better serve commuting tenants.
Yields in North and East Croydon deliver an average 4.5 — 4.7 percent return.
Bordering Surrey, these are a few of the very upmarket places in Croydon. Property types and costs are represented by this fact. Again, access to stations is advantageous, although proximity to the M25 is a significant pull.
Yield wise for South Croydon property investment, you’re looking at around a 4 — 4.3 percent yield.
West Croydon, such as Old Town and Waddon, is a mixed residential and industrial location. Property wise, very good value traditional terraces and apartments are typical here.
The way to optimize your buy-to-let property investment in Croydon?
If you’re considering going down the Croydon property investment path, why don’t you give some idea to protecting your buy-to-let with a guaranteed rent letting agents/scheme?
This is a full property management service, using an added advantage. Unlike using conventional property management assistance, the homes2let guaranteed rent scheme gives you a larger return, whilst at the same time reducing your investment risk by ensuring your monthly lease payments have been made on time each month, even though void periods.
Why not speak to Croydon-based homes2let to discover more? Our team has particular expertise in the Croydon property investment market and is about to discuss a wealth of knowledge to help you to get the most from your rental income. We welcome you to get connected today. Visit homes2let.com for more information.
