House Prices across the London Borough of Croydon continue to rise

News at Homecastle | 21/06/2017

Terraced properties saw the biggest price increase, up to 3.69 per cent, which means the average terraced property in Croydon will set you back £398,286 compared to £272,412 in 2016. 

Detached houses saw the second biggest price increase at 3.54 per cent, the average detached house in Croydon will now cost you £710,899 compared to £686,593 in 2016. 

Croydon is the second most in-demand place to live in the UK according to property website Zoopla. It found that Croydon properties received more than double the demand of the average listing across Britain over the past 12 months. 

Zoopla spokesman Lawrence Hall said: "It’s no surprise that we see high demand for properties in the outer London suburbs, such as Croydon, as they prove to be an affordable alternative for buyers."

With the average London home costing 11 times the average wage in the capital, the difficulty of getting onto the housing ladder is becoming ever more apparent. However figures from the Office of National Statistics identified Croydon among the areas where first-time buyers stand the greatest change of getting onto the housing ladder. 

While semi-detached properties saw the lowest price increase in the borough at 1.65 per cent, the average semi-detached property in Croydon will cost you £479,768 compared to £471,980 in 2016. Flats saw a bigger price increase than semi-detached properties at 3.26 per cent, the average flat in Croydon will now set you back £281,293 compared to £272,412 in 2016.