According to data from the HM Land Registry and Property Solvers, the average house price in Croydon is £362,040.
However, some properties were bought for much less than that, with the cheapest being only £3,000.
Over the past five years, the average property price increased by £2,572 (0.71 per cent) and rose by £515 (0.14 per cent) in the last 12 months.
There were 372 residential property sales in the past year, a decrease of 84 transactions (-22.58 per cent) compared to the previous year.
Most house sales (86) were in the £200,000 – £262,000 range, followed by 75 sales in the £262,000 – £324,000.
Below are the Croydon roads where the cheapest properties were bought in 2024, whether they were flats or houses:
Elgin Road, Croydon (CR0 6XD): £3,000
Elgin Road, Croydon (CR0 6XD): £3,000
Nicholson Road, Croydon (CR0 6QT): £5,000
Outram Road, Croydon (CR0 6XJ): £5,211
Avondale Road, South Croydon (CR2 6JE): £10,000
Moreton Road, South Croydon (CR2 7DN): £15,300
Birdhurst Road, South Croydon (CR2 7EA): £55,000
Fairholme Road, Croydon (CR0 3PG): £57,000
Birdhurst Rise, South Croydon (CR2 7EJ): £60,480
Park Lane, Croydon (CR0 1JA): £87,000
The majority of these properties were bought in May and June, with only one (Birdhurst Road) being sold towards the end of the year.
Although two properties on Elgin Road were bought for £3,000, it isn’t Croydon’s cheapest neighbourhood.
That title belongs to South End and St Peter’s Road, where the median house price fell at £280,500, roughly £277,5000 more than the properties on Elgin Road.
Mortgage rates are expected to drop to about 4 per cent by the end of 2025, leading to a stronger housing market.
Buyers will likely have more negotiating power, especially with more homes available than in the past decade.
Tim Bannister from Rightmove said: “We think 2025 will continue to be a buyer’s market, providing some breathing room for buyers to find the right home at the right price.
“However, attractive homes in popular areas are still being snapped up quickly.”
