Insights - Croydon
Buy-to-Let in Croydon: Potential Rate Cuts later in 2024 and Why Croydon Remains a Strong Investment
The Bank of England’s recent decision to hold interest rates at 5.25% has injected some uncertainty into the UK housing market. While the pause offers a temporary reprieve from rising borrowing costs, the impact of previous rate hikes is likely to be felt in the coming months, potentially leading to slower house price growth. However, Governor Andrew Bailey’s comments suggest a possible shift towards lower rates in the near future, which could reignite buyer demand and stabilize prices.
Despite this uncertainty, Croydon remains a compelling location for buy-to-let investors seeking a steady return on their investment. Its affordability, ongoing regeneration, excellent transport links, and vibrant atmosphere make it an attractive proposition for tenants, particularly in a market where affordability is a key concern.
Read MoreCroydon: The Best Value Borough for Property Investment in 2024
Croydon’s excellent connectivity and transportation infrastructure significantly bolster its attractiveness as a prime location for property investment in 2024.
The borough’s strategic position, offering a mere 15-minute journey to central London and Gatwick Airport, adds immense value to its real estate market.
Furthermore, the comprehensive local tram and rail network in Croydon enhances the ease of movement within the area, making it an even more desirable destination for investors.
October 2023 Croydon Property Market Snapshot
New data has unveiled a 2.8% annual depreciation in Croydon house prices, slicing £11,500 off the typical home’s value (House Price Index, August 2023).
5 Reasons Why Croydon is a Great Place to Live – and Invest in Rental Property
With its excellent commuter links into London, its offering of fairly priced properties and abundance of leisure facilities, it is no wonder that living in Croydon has become a popular move, and that investing in buy to let property in the area has in turn developed into a lucrative opportunity. Here are five reasons why Croydon could be the place for your next property investment.
4 Great Reasons to Invest in Buy to Let Property in Croydon
Croydon, town and borough, is thriving. And it is no wonder as, with such a significant level of investment, the area has recently been named the UK’s fastest growing economy. Here’s a look at some of the large scale development projects that are currently underway or in the pipeline, which could make Croydon a lucrative place to invest in buy to let property.