While I am writing a larger article with some in depth research on Croydon and Brexit (which will be posted shortly), I came to realise something quite interesting.
There is no escaping that Brexit has given a hit on the economy… including the property market. However, Croydon doesn’t seem to have been hit that hard. Well in-fact, it’s hardly been touched from what I can see. As I wrote in my previous blog on ‘How would Brexit effect the Croydon Property Market‘, I predicted that really whatever the outcome, it would not hurt the Croydon market as much as it would other markets. Well..
The average price in Croydon in May was £419,856 and it rose to £427,734 this month. The average price in June 2015 was £371,500 – which gives an increase of 15.10% over the last year.
London has taken a bit of a hit however… and the lead up to the referendum did not help property values and sales. With the (shocking) news that we are leaving the EU, it may very well be the case that Londoners are now going to look elsewhere for more affordable housing. Maybe somewhere like Croydon! Croydon has been identified as one of the hot spots around London and I wrote about this previously also, so feel free to go back and have a look.
Anyway, this was just a quick blog with a thought of information I wanted to share. Full report and in depth details coming up soon! If you haven’t registered with your email address to get these updates straight to your inbox, please do feel free too below: