For your property investor seeking a lucrative buy to let opportunity in London, 1 place that warrants consideration needs to be Croydon. With purchase costs in some parts of the London borough lower than much of the rest of the funding, and with returns averaging a healthy 4.5 percent, and a host of prime location benefits, it really is worth discovering what home investment in Croydon has to offer you.
Croydon forms a part of the Greater London area and is the second-largest London borough having a population of about 385,000.
What can investors expect from property costs in Croydon?
Looking at investment property for sale in Croydon, whilst Greater London is known to command among the highest investment amounts for buy to let landlords, the fact is that Croydon sits third on the list of cheapest places to purchase land.
HM Land Registry data demonstrates that the average property price in Croydon is £367,500. However, for anyone on the watch for a lesser price investment, there’s a starting price of around £100,000.
Rent shrewd, the Croydon Market Rent Summary reveals that landlords could command an average rental fee of £1,240 per month. Family homes of three bedrooms typical £1,679 and 2 bedrooms £1,393. Even a one-bed property can achieve £1,066 per month. Letting agent rent guarantee, learn more here.
Yield shrewd, investors are looking at 3.9 to 4.8 percent, according to Liveyield, which contrasts nicely to the rest of London.
What brings tenants to live in Croydon?
Croydon is one of London’s fastest-growing markets at 3.7 percent above average and is reported to have the 2nd fastest expanding local economy in all of the UK. As well as benefiting from considerable investment at the local transportation network and billions of pounds worth of regeneration investment, Croydon has also been awarded London Borough of Culture 2023.
Sitting at the northern point of this Gatwick Diamond, Croydon is a flourishing business community and major financial hub for the southeast of England offering a substantial selection of employment opportunities.
Few places boast the wealthy transport links that Croydon does. In fact, this area is just one of the best-connected metropolitan zones, served by four railway stations and a lot of big road links including the M23, M25, and the A23.
Amenities and leisure shrewd, the area is brimming with green spaces, retail, leisure and arts facilities, and superior schools.
Which type of home is typical in Croydon?
If it comes to investment land for sale in Croydon, there is quite a varied range on offer.
Central Croydon is usually populated with conventional terraces and a few newly build apartment blocks.
North Croydon tends to attract people who have a requirement or desire to live in London, but that are searching for superior value. Thornton Heath, South Norwood, Broad Green, Selhurst, and Norbury are some of the most well-known areas.
Over in East Croydon, in regions such as Addiscombe, Shirley, and Long Lane Wood, this is where you’ll find lots of green areas, and further, out to Addington, the area gets semi-rural, although transport links certainly do not endure courtesy of the London Trams network.
Property forms here are quite a mixture, which range from value to high end. Buy to let investors are wise to decide on places with good access to East Croydon Station and Norwood Junction Station to better serve commuting tenants.
Yields in North and East Croydon provide a typical 4.5 — 4.7 percent return.
Bordering Surrey, these are a few of the more upmarket places in Croydon. Property types and prices are reflected by this actuality. Again, access to channels is advantageous, but proximity to the M25 is a significant pull.
Yield wise for South Croydon property investment, you are looking at around a 4 — 4.3 percent yield.
West Croydon, including Old Town and Waddon, is a mixed residential and industrial area. Property shrewd, very good value traditional terraces and apartments are typical here.
The way to optimize your buy-to-let property investment in Croydon?
If you are considering going down the Croydon property investment route, why don’t you give some thought to safeguarding your buy-to-let with a guaranteed rent scheme?
This is a complete property management service, using an extra advantage. Unlike with a traditional property management service, the homes2let Croydon guaranteed rent scheme nets you a larger return, whilst at precisely the same time reducing your investment risk by making sure your monthly rental payments are made on time each month, even though void periods.
Why not talk to Croydon-based Homes2Let to learn more? Our helpful team has special expertise in the Croydon property investment marketplace and is about to discuss a wealth of knowledge to help you get the most from your rental income. We welcome you to get connected today.