New Build Investor Guide – Croydon
May 2021
Buying a new build property off plan? Check out our Area Guide first
Are you considering purchasing a new build, off plan property in Brent? Want to get the latest information on house prices, demographics and other useful information before you commit to a deal?
Our Area Guides give you the latest relevant information from local governments, the Census and the Office of National Statistics (ONS) data. They’re designed for offshore, new build property investors to help you understand an area in detail so you can make informed investment decisions.
Read on for investor details specifically about Brent but if it’s more detail about the wider UK property market you need, you can download our latest report here. In our report we address two key questions:
1 Is investing in UK residential property still worth it?
2 If so, where are the best opportunities for property investors and why?
Croydon, London
Croydon is one of 20 outer London boroughs and is located in south London. Spanning over 33 square miles, it is the 5th largest borough by area. The borough is south of the river Thames and is the most southerly of all London boroughs. It borders the county of Surrey to the south and the London boroughs of Bromley, Lambeth, Merton and Sutton. It includes the districts Addington, Croydon, Coulsdon, Norwood, Purley, Thornton Heath and many more.
Demographics
Croydon’s population is forecast to grow by nearly 13% by 2030
| Population (2018) | 391,296 |
| Forecast Population 2030 | 441,922 |
Source: data.london.gov.uk
Economically Active Population
A largely young, diverse, mobile population.
| Age Range | Percentage of population |
| 16 – 64 | 64% |
| Under 15 | 22% |
| Over 65 | 14% |
| Martial Status: | |
| Single | 40% |
Source: data.london.gov.uk
Average Life Expectancy
The average life expectancy for those born in Croydon between 2016 and 2018 are below.
| Males | 80 (UK average is 79). Males born in Croydon have the 19th longest life expectancy of all London boroughs. |
| Females | 84 (UK average is 83). Females born in Croydon have the 22nd longest life expectancy of all London boroughs. |
Source: ons.gov.uk
Population Density (2011)
Croydon has 4,471 people per km2. Lower than the London average of 5,701 people per km2 and the 8th lowest density of all London boroughs.
Source: ons.gov.uk
International Migration (2018-19)
3,581 new residents from overseas moved to Croydon in 2018 -2019. The eighth lowest of all London boroughs.
Source: ons.gov.uk
Country of Birth
| Location of Birth | Proportion of Population |
| UK and Ireland | 72% |
| EU | 5% |
| Other countries | 23% |
Source: data.london.gov.uk
Crime & Safety
| Crime Numbers (April 2017 – March 2018) | 29,431 |
| Crime rate per 1,000 population (April 2017 -March 2018) | 77 |
| Croydon has the 11th lowest crime rate per 1,000 people of all London boroughs. |
Source: data.london.gov.uk
Education
Schools
| Primary Schools | 116 (25 of which have an Ofsted rating of outstanding) |
| Secondary Schools | 51 (8 of which have an Ofsted rating of outstanding) |
| Schools and Colleges (16-18 years) | 44 (8 of which have an Ofsted rating of outstanding) |
Source: compare-school-performance.service.gov.uk
Universities
None
Hospitals
Croydon University Hospital
Purley War Memorial Hospital
BMI Shirley Oaks Hospital
West Valley Hospital
General Wellbeing
| Population considering themselves in very good health | 48% |
| Population considering themselves in very bad health | 1% |
Source: data.london.gov.uk
Employment & Economy
74% of working aged people employed (compared to 75% across England 74% across London).
Top 4 Sectors of Employment
| Public administration, education and health | 31% |
| Finance, banking and insurance | 23% |
| Distribution, hotels and restaurants | 16% |
| Transport and Communications | 11% |
Source: data.london.gov.uk
Major Employers
In 2020, there were 40 companies in the borough employing more than 250 people and 165 companies employing between 50 and 249 people. (source: nomisweb.co.uk).
Jobs and Job density
Aproximately 78,405 residents of Croydon also work in the borough. 49,714 people travel into the borough each day for work and 78,330 residents work outside the borough. The daytime population of the borough therefore decreases by 28,616 people each day. (source: data.london.gov.uk).
| Median Gross Annual Pay for full-time employee jobs (2017) | £31,365 |
| Number of jobs in the borough (2019) | 92,000 |
| Jobs per resident | 0.49 (London average 1.03 and UK average 0.87) |
Source: nomisweb.co.uk and data.london.gov.uk
Housing
| Number of residential properties in Croydon | 154,420 |
Source: data.london.gov.uk
Property Ownership (2018)
| own property outright (no mortgage) | 27% |
| own property with mortgage | 39% |
| rent from a Housing Authority or the Local Authority | 15% |
| rent from a private landlord (representing approximately 28,300 private rentals) | 19% |
Source: data.london.gov.uk
| Household with no car or van (2011) | 33% |
Source: nomisweb.co.uk
Household Composition
| One person households | 30% |
| One family households | 59% |
| Other (sharers / students etc) | 11% |
Source: nomisweb.co.uk
Average House Prices
Average house prices in Croydon are the 6th cheapest of all London boroughs and rose by nearly 5% between January 2020 and January 2021.
| Average achieved price January 2020 | £372,505 |
| Average achieved price January 2021 | £390,093 |
| Increase/Decrease | +4.7% |
Source: www.gov.uk
Volume of Sales
During the COVID pandemic, the number of property transactions fell by 20%, the 19th largest fall of all London boroughs.
| Number of residential sales to year ending September 2019 | 4,045 |
| Number of residential sales to year ending September 2020 | 3,229 |
Source: ons.gov.uk
Achieved Rents (January to December 2020)
Mean monthly average rents in the borough:
| London Median Rents (per calendar month) |
Croydon (per calendar month) |
|
| Studio | £950 | £793 |
| 1 bedroom | £1,200 | £950 |
| 2 bedrooms | £1,450 | £1,200 |
| 3 bedrooms | £1,750 | £1,450 |
Source: london.gov.uk
New Build Developments in Croydon
There nine large new build apartment developments in Croydon currently available for sale. Average asking prices for four of these developments are set out below.
Smitham Yard (The Oakwood Group)
| Total Number of Apartments | 67 (42 private) |
| First launched | April 2020 |
Average Prices – Smitham Yard
| Minimum | Average | Maximum | |
| Price | £300,000 | £395,931 | £475,000 |
| Price per ft² | £514 | £553 | £600 |
| Area (ft²) | 538 | 717 | 829 |
source: Molior
| Minimum | Average | Maximum | |
| 1 Bedroom | £300,000 | £318,333 | £355,000 |
| 2 Bedroom | £365,000 | £419,808 | £475,000 |
source: Molior
Montpelier Road- (Brick by Brick)
| Total Number of Apartments | 34 (28 private) |
| First Launched | May 2021 |
Average Prices – Montpelier Road
| Minimum | Average | Maximum | |
| Price | £320,000 | £430,000 | £550,000 |
| Price per ft² | £465 | £491 | £551 |
| Area (ft²) | 581 | 890 | 1,184 |
source: Molior
| Minimum | Average | Maximum | |
| 1 Bedroom | £320,000 | £320,000 | £320,000 |
| 2 Bedroom | £400,000 | £400,000 | £400,000 |
| 3 Bedroom | £450,000 | £500,000 | £550,000 |
source: Molior
Queens Square (R&F)
| Total Number of Apartments | 288 (265 private) |
| First Launched | March 2019 |
Average Prices – Queens Square
| Minimum | Average | Maximum | |
| Price | £370,940 | £554,358 | £1,143,820 |
| Price per ft² | £672 | £750 | £862 |
| Area (ft²) | 522 | 733 | 1,458 |
source: Molior
| Minimum | Average | Maximum | |
| Studio | £370,940 | £393,361 | £423,430 |
| 1 Bedroom | £412,530 | £451,253 | £545,580 |
| 2 Bedroom | £522,060 | £570,458 | £622,820 |
| 3 Bedroom | £895,740 | £1,011,200 | £1,143,820 |
source: Molior
Leon House (FI Real Estate Management)
| Total Number of Apartments | 168 |
| First Launched | November 2017 |
Average Prices – Leon House
| Minimum | Average | Maximum | |
| Price | £320,000 | £410,603 | £487,000 |
| Price per ft² | £547 | £614 | £695 |
| Area (ft²) | 547 | 672 | 777 |
source: Molio
| Minimum | Average | Maximum | |
| 1 Bedroom | £320,000 | £360,383 | £458,000 |
| 2 Bedroom | £420,000 | £453,164 | £487,000 |
source: Molior
Environment & Leisure
Croydon has more than 120 parks and open spaces and is home to:
6 outdoor gyms
11 locations with football pitches
6 locations with basketball courts
14 locations with tennis courts
5 leisure centres with swimming pools, gum and exercise classes
14 libraries
Transport
Croydon’s overground stations are in Zones 3, 4, 5 and 6 .
Overground Stations
| Coulsdon South | Coulsdon Town |
| East Croydon | Kenley |
| Norbury | Norwood Junction |
| Purley | Purley Oaks |
| Reedham | Riddlesdown |
| Sanderstead | Selhurst |
| South Croydon | Thornton Heath |
| Waddon | West Croydon |
| Woodmansterne |
Underground Stations
There are no underground stations in the London Borough of Croydon.
Local Government
The Labour Party
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