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London hotspots tipped for house price growth

Croydon and Haringey among best areas to buy in for future growth

Found this article by Anna White on 18th March 2020

Homes and Property – Croydon

Which are the best districts to buy in now?

The Savills data reveals some clues on where today’s home buyers should be concentrating their search.

Croydon

For the five years between 2005 and 2010 Croydon was 30th out of the 32 boroughs for house price growth.

However, following the London riots of 2011, the council-led building programme started to pay off and Croydon is creeping up the rankings.

“There was no boom and bust in Croydon because values never got high enough to attract that type of investment,” says Colm Lacey, chief executive of the borough council-owned developer Brick by Brick.

In the Seventies and Eighties Croydon town centre was geared around offices and roads, expecting more workplaces to set up in the suburbs.

With the reinvigoration of the City, businesses didn’t arrive and Croydon was left in decline.

“We are now trying to retrofit a mixed economy and housing based on a series of overlapping masterplans,” Lacey adds.

Brick by Brick is announcing the completion of five affordable schemes this week, comprising 129 homes. It has 43 schemes under way which will deliver 1,000 homes and profits go back to the council to be spent locally.

There are 24 one- and two-bedroom apartments at Flora Court in Thornton Heath with prices starting from £73,750 for a 25 per cent share of £295,000 home.

Buying in Croydon

A sensible buy in Croydon: Niamh Wallace bought a two-bed apartment in Auckland Rise

Nurse Niamh Wallace, who has a four-year-old son, was looking for somewhere to rent when she realised it would be cheaper for her to take advantage of the government Help to Buy scheme and get a place of her own.

She has purchased a two-bedroom apartment for £465,000 in Auckland Rise, a scheme by Croydon council’s development company, Brick by Brick.

“The thoughtful architecture caught my eye,” she says

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