Croydon – What to look for in houses for sale?

Sometimes, working out the prices of the houses for sale can be tricky business. This is why we created this article all about the price of houses for sale in Croydon, London.

From the average asking price of houses for sale in Croydon, to the growth of the population in the area, all will be talked about regarding the city of Croydon. So you will get better clued up on the area, and make finding a house for sale in the UK easier.

Are you considering other cities with houses for sale?

You can consult our list below that goes over a list of cities not necessarily in Greater London, allowing you to find similar places to Croydon:

• Killingbeck in Greater London
• Merriott in Greater London
• Goodrington in Greater London
• Portway in Greater London
• Bonnyton in Greater London

You may also refer to our webpage specific to UK houses for sale to get an overview of the large number of cities in the area, houses for sale in the UK

Invest in a house for sale that meets your demands

What parameters impact the final price of a house for sale in Croydon?
Here below is our list with the most important ones:

• House for sale affordability – check out the (see house affordability guide)

  on the UK gov website to know more

• House Location – the actual location of a house for sale drastically changes the final price of a property

• Transports you can reach by foot – Commuting is part of our lives, especially in big cities, check it out before buying a house for sale.

• Number of bedrooms – Usually, the bigger the house for sale the more bedrooms it will have. For example, if you are a single person (or a couple) one bedroom will do.

• Energy Performance Certificate of the house for sale – Bad EPCs can result in thousands of pounds more in bills you will have to pay on an annual basis. Consider this when purchasing a new property.

• Internet connection – Having a quick internet connection is fundamental nowadays. Check the area of the house for sale to understand what the average internet speed is and see if it fits your needs

• Do you drive to the office? – If yes, ask about parking. Is it included in the house price?

• Special areas – Start by taking a look at the National Heritage list by the UK government. If a house listed for sale appears in the list, the future landlord won’t be able to invest in changes to the real estate asset.

• Houses for sale Conditions – When looking for houses for sale you should always consider the amount of time and money you will have to invest to complete the needed repairs, if any at all.

Asking price in Croydon for a house for sale

In the city of Croydon, what is the average asking price for the houses for sale?

The above table is perfect for understanding the distribution of properties in the area as well as looking at this data alongside the average asking price per square foot of £5,383. Telling you what type of house is most in demand relative to the price of the area.

This could be due to more people looking at particular types of houses for sale over others or even due to the fact that Croydon has a lack of supply of housing in certain categories.

Before a house gets sold, the figure it sells for always starts off as an asking price. This average asking price for the houses for sale in Croydon determines the eventual sale price of the house so it isn’t the most important figure but is still important to take note of. This figure is currently £445,721.

Below, there is a table showing the asking price of the different sizes of houses based on the number of bedrooms of the houses in Croydon.

Professional advice for houses for sale in Croydon

In today’s market with an abundance of homes available for sale, choosing the best house for sale can be challenging.
With several houses for sale to choose from, who will guide you through the process of choosing?
We have listed here below several experts and companies able to advise and support potential buyers.

The process of finding and investing in a house for sale can be lengthy and time-consuming, this is why we suggest you consult with the following professionals:

• Banks – Lend you the cash
• Insurance companies – Insure your new real estate investment
• Conveyancer – handles all the legal labour that is needed to proceed in buying a house for sale.
• Surveyor – Carries out an independent and complete property valuation of the house for sale
• Mortgage advisor – If you are thinking to get a mortgage to get the finances needed to afford to buy a house for sale, a mortgage advisor is the person you should be looking for
• EPC person – Always get a quote on the Energy Performance Certificate of the houses for sale listed in a certain city

Are there any important statistics about the population of Croydon?

How much are those living in Croydon earning?

While not always the case, the amount people earn can be associated with better schools in the area and perhaps a nicer environment to live in.

£54,467 is the average household income of the area. And the higher this figure is the more likely it is that there is a higher percentage of people with a social grade score in the A or B categories which is 28% for Croydon.

Is there sufficient green space in Croydon?

In the city of Croydon, there are 17.8 acres of green space per 1000 residents.

The charity, ‘Fields in Trusts’ recommends a minimum of 6 acres of green space per 1000 people so it is easy to see where Croydon is when seeing if green space availability is sufficient. This green space could be parks, nature reserves, public gardens or playing fields.

What’s a social grade score and how does it relate to Croydon?

The social grade score is a good indicator of what type of jobs people generally work in the area. Whether that be working in the primary sector, secondary sector, tertiary sector or maybe the quaternary sector of jobs.

The scale is slightly different to this though on a scale of A to E. A refers to people who are in the most skilled, managerial roles whereas E include people such as casual workers.

In Croydon, the percentage of people in the two highest categories, A and B is 28%. This figure includes people who are therefore most likely to be more skilled and have higher paid jobs.

When contrasting these figures, the average household income for the area is £54,467. This income will generally get bigger as the percentage of people in the A and B categories go up too (28%).

What is the education level like in Croydon?

In the city of Croydon, 37% of people have degrees. In general, as the number of people who are highly educated goes up, the more likely they are to have the ability to buy houses as their annual household income goes up too.

So you can see for yourself, the average income for the people of Croydon is £54,467. This generally goes up with the education level of the area. Additionally, looking at the difference between the proportion of people with degrees and the UK average for this statistic (22.6%) should give you an idea of the affluence and education of the city.

A higher education level can therefore tell you if the house prices are likely to be high as the higher income level often results in people buying a bigger, more valuable house.

Having said this, whale education level can be a good factor to go by, there are also things like the rental yields, the population growth and social grades scores that can impact the value of a house and whether it will go up in value as time goes on.

In Croydon, what is the crime rate?

For the city of Croydon, crime rate is at 102. So for every 1000 people in the area, 102 commit a crime which is prosecuted. Paying close attention to this figure of crime rate is not only important for the value of a house but also to calculate the maintenance cost of owning a house and how attractive an area can be for future buyers.

So, compare it to the nationwide average of 79.52 per 1000 people and consider if you are happy with this figure based on the price you’re paying for a house you’re interested in.

On top of this, houses that are in areas where there is a high crime rate tend to have to pay higher insurance rates, costing a homeowner in the long term.

Additionally, paying for further security on a house such as CCTV or potentially gates and fences that deter thieves may be necessary for an area with a high crime rate.

Is the city of Croydon deprived?

The number of people who are deprived can have an impact on the perception of your house in the general marketplace. Additionally, if you are looking for a house to live in for the long term, you can start to picture what your neighbours and the people in your area live like financially.

If the proportion of deprivation of Croydon is 22% and in general for the UK this figure is somewhere around 33%, you can see if this figure is something you are happy with as you search for a house to buy.

Have the people of Croydon grown in numbers?

In the UK in general and specifically in the region in question, large population sizes can be good indications that there are a lot of people in the area looking for houses for sale which can drive up demand and therefore impact the cost. You should also check to see if the population is growing in the area too to show an increasing demand, this is even better. Currently, the total population of Croydon is 94,452.

Sometimes, smaller populations can have higher buyer demand than large populations on the other hand. This is because the price of houses and hence the demand for houses is based on a variety of variables.

The most important variable is the location of the houses for sale in the city of Croydon.

In Croydon, how has the population changed over the last five years?

In the last five years, over time, the change in population size was 2%. Looking at this figure can inform you of the buyer demand for the houses for sale in the area. Read more here

This may mean that the city has now started to slow down in terms of population growth or it may mean the city is also building a lot of houses which would indicate the supply of houses for sale will be matching the demand.

Making predictions about the future growth of Croydon is hence important in making a decision if capital appreciation of your real estate investment is something you’re after as a landlord.

Comparing this figure for the 5 year growth (2%) as well as the ten year growth in the subheading below should allow you to make some accurate forecasts on the growth rate. Click here to know more on the UK population trends.

Croydon population difference over 10 years?

The population has adjusted in the area of Croydon by 9% in the most recent decade. This change is even more useful when compared alongside the figure for the five year growth of the area too.

This will tell you if the population is changing at the moment or if change is more recent. Through this a landlord can accurately look at the fluctuations in population size of the area over time and therefore better understand the trend of the houses for sale in Croydon.

To make an example, the town of Salford which is a part of Manchester has seen a 10% increase in population. house price has therefore followed.

The city of Croydon, situated in London, is a particularly impressive part of the UK because of the specific demographics of the location.

In the below headings, the city of Croydon and its demographics will be compared to its wider location (Greater London). This includes population size, growth and population education now and into the future.

These statistics are heavily influenced by socio-economic factors and as a result this also shapes the projected house price of the houses for sale in Croydon. So, taking a good look at the data is essential to understand the area you are considering to buy in.

In Croydon, what do houses for sale tend to sell for?

In Croydon, the average sale price of a house for sale is in fact £433,022. This is dependent on the 10 year population growth of Croydon being 9%. Growing populations are more likely to inflate the prices of houses for sale in the city of Croydon.

The list below is able to inform you of what these prices are. Giving you an accurate estimate of whether a landlord is likely to accept your offer based on the prices of the houses for sale in Croydon.

Evidently, certain types of houses for sale will have different types of demand and this will be reflected on the final price.

On average, the cost of a house for sale per square foot works out to be £5,140. This means if you are just looking out the houses sold in Croydon in general and didn’t take into consideration the type of build. For example, a new build.

How are rental yields of the houses for sale different to the rest of the UK in Croydon?

Assuming you are not looking for a house for sale in a certain area because of private reasons such as being close to a family member or you have been relocated to a new office, these are some of the factors to consider in order to understand if an investment is worth your money.

Investors typically look at data such as the average rental yield, the average asking price of rent per month, rent turnover and sale turnover. These KPIs give property investors a solid idea of how the market is performing in that area.

For the city of Croydon, the below table demonstrates this well. To make things simple, it compares these numbers to the wider region of the UK; Greater London. As well as London, to give a smaller scale area to compare the data to.

Assuming that in the future you want to re-sell the house you will eventually purchased in Croydon you might be interested in the number of sales per month (70) that happen in the local housing market. Comparing this figure for Croydon with the above table gives you a good understanding of the profitability of the area.

What is the growth in the housing market of Croydon?

Whenever you are thinking about looking for houses for sale in Croydon, think about how the city is growing and how this may impact the overall growth of the area.

Comparing the growth at different time periods would be a great way to assess whether the growth has slowed down, remained the same or perhaps stagnated over the years.

As the population of Croydon grows, this may also push up the price of the houses for sale. More people would be looking to buy homes and permanently live in the area. This demand helps a home appreciate. However, this isn’t always true because some cities build a lot of houses too to match the supply.