I received an email early this morning from a reader, who has been following the blog for quite some while. She wanted to know if it is better to invest in Flats or Houses in East Croydon. While I have covered this topic before, I thought I would make it a bit more visually appealing, using graphs and charts.
Sometimes, it’s easier to see when looking at images / graphs. If you prefer the ‘image’ based content rather than plain ol’ text, please do drop me a quick email and let me know. The only way I can improve on my writing is to receive some critical feedback (I get too much good feedback 😉 )
I’m going to give my personal answer: I believe that flats are better to invest in East Croydon than Houses. You may want to read on my thoughts on 2 bed flats in East Croydon and why they are so good too. To analyse my answer, we can have a look through some data I have sourced from the Census, online portals like Zoopla, Rightmove etc and my own database of properties. Date of investigation: 23/02/16.
Now bear with me here! This is just the first graph, don’t get too worried. You may be looking at the prices of houses and flats, realising that they are almost the same, and saying ‘why the hell would I buy a 2 bed flat when I can buy a two bed house for the same price?’
Well… I’m going to dig myself a bigger hole with the next graph:
There is something very important to see here. Flats and Houses almost have the SAME RENTAL PRICE. So you may be asking why on earth they are the same price. Well, there is a very good reason, and its shown in the next two charts.
Now… I think it’s becoming clearer yes? The reason the prices are so similar is because East Croydon is simply riddled with flats. absolutely rammed full. And there are more coming infact, so clearly not full enough. Flats in East Croydon are in demand, not houses.
When I sent these graphs over to the local estate agent I use, while they knew all of this information, when they saw it on a simple column graph it really let them sit back and look at what is exactly going on in the area.
Do you agree with what i’m saying here? I would love to hear your thoughts, leave a comment, send me an email or give me a call!
Oh, and if you want some information on the local market, anything that I haven’t covered, or if you are currently looking at a flat / house to buy in the local area and want an honest, un-biast opinion on it, feel free to contact me.