Croydon has space for an extra 8,359 homes and represents one of the major residential growth areas in London. As such, it has been designated an Opportunity Area in the Greater London Authority’s London Plan.
Croydon led the way for outer London housebuilding in 2015. More than 47,000 units were under construction across the capital last year, the highest number ever recorded by EGi’s London Research. Of these, 1,700 were in Croydon where the effect of permitted development rights, allowing developers to take advantage of the set application to consent period of 56 days, saw many offices converted to residential without going through the formal planning process.
According to the Office of National Statistics, property values in Croydon rose by 16.1 per cent last year – the sixth biggest price rise in the UK.