An article from CroydonGuardian.co.uk:
House prices across the Croydon borough increased on average by more than 10 per cent in the 12 months to September, according to research by Hometrack.
Flats saw the biggest price increase, up to 14.2 per cent, which means the average flat in Croydon will set you back £277,630 compared to £243,522 in 2015.
Terraced properties saw the second biggest price increase at 11.7 per cent, the average terraced property in Croydon will now cost you £394,168 compared to £352,880 in 2015.
A few of the reasons why Croydon is a popular area for home buyers include a growing local economy, transport upgrades and a raft of regeneration programmes.
Jo Gumb, director of Develop Croydon, said: “Continued increases in house prices are a reflection of the fact Croydon has become more desirable – from Westfield and Hammerson’s £1.4billion investment in the retail sector to the recent opening of Boxpark Croydon.
“However, it should be pointed out that despite these price increases Croydon remains among the most affordable London boroughs for people looking to get onto the housing ladder.”
While semi-detached properties saw the lowest price increase in the borough at 10.8 per cent, the average semi-detached property in Croydon will cost you £480,076 compared to £433,210 in 2015.
Detached properties saw a bigger price increase than semi-detached properties at 11 percent, the average detached property in Croydon will now set you back £703,886 compared to £634,131 in 2015.
Mark Hayward, managing director of the National Association of Estate Agents (NAEA), said: “Although figures from Hometrack show property prices in Croydon are on the rise, it’s vital if you’re planning to sell to get an accurate house price valuation.
“By using a local reputable NAEA estate agent, you can ensure the right code of conduct is adhered to and you receive the correct information to help sell your house appropriately within the current market conditions.”
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