A landlord who has invested in rental properties throughout Croydon asked me about the property market in her home town of Purley. I normally ramble on about the property market, but I thought this time I will take a ‘Financial Times’ approach and throw more figures at you!
What we found out about the Purley (CR8) was quite interesting.
The average value in Purley is £564,782, which is £40,572 above the average of its relative town of Sanderstead (average value £524,210. In the world of property, that is not too much).
Comparing to Central Croydon (CR0), Purley is a whopping £227,593 above the average (which is £337,189). Of-course they are completely different areas, and don’t let that fool you in which is best to invest in. I have written in detail about which area is best to invest in and how to spend £100,000 already: How to Spend £100,000 in Property in Croydon
I find it fascinating when these research sessions pull out facts like this. As you can see from the graph, 20 years ago, Purley was in-fact the cheapest out of the three areas, with an average value of just £55,170. That, by the way, is a good thing to all of you who bought your house in Purley 15+ years ago… you will have made more money in your home than anyone else. On that note, do you know how much your house is worth at the moment? Just as this graph has shown, I think you would be surprised, why don’t you give me a call – 07957336956 and I will tell you over the phone how much your house is actually worth. Just for your own knowledge!
The most expensive street in Purley is Rose Walk, where an average property is worth excess of £2,800,000+. There have been 8,671 sales in the last 20 years in the CR8 postcode and since then, the average value has increased by a crazy 301.06%. That’s a value change of £423,961 Who said property prices don’t double every 10 years!
As always, if you have a house or flat you are looking at buying, and want an honest, unbiast opinion, feel free to contact me.
