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Does Croydon old town have potential to become a property hotspot with the new transport links and with the new shopping centre coming to Croydon?

I have just purchased a property on Abbey Road, Old Town, Croydon CR0, can anyone advise if this was a good purchase as I wanted to be near the new mega shopping centre and the new East London Line link in Croydon as well as other Croydon regeneration projects e.g. the refurbished Wandle Park.

Asked on Jan 3 2013, House Prices in Croydon | Report content

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  • Hi esiah, I would say that, in my own opinion, Croydon does have the potential to become a good area for property investment, but no-one can be certain about things like this. Being so close to the centre of London though, and the fact that it has decent transport links will often work in its favour with commuters, meaning that it will potentially be a very popular area. This can help drive up prices as well. As you say, the fact it will have its own shopping centre will also only do good for the property market in the area. Amenities like this are always favourable with potential purchasers, and can only paint the area in a good light, again potentially pushing up the demand for homes therein. Thanks, Scott

    Answered on Jan 24 2013, Report content
  • I'm sure it does, but be prepared for a dip before the area starts to rise. The work to remodel the Whitgift and Centrale will take a few years, and won't really start in earnest until 2014. In 2014 quiite a few new apartment blocks (the old Nestle building, IYLO, and a few other smaller ones) will start selling, and this may drive prices DOWN (compared to local trends) in the short term. I'd guess a bounce back in 2015/16, and then things should get a lot better due to the various improvements coming on-stream by then.

    Answered on Apr 9 2013, Report content

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