London is a fantastic city that is always evolving. Areas can change their fortunes almost overnight. It can see formerly unfashionable spots fly to the top of the most desirable lists. This has happened with Crofton Park. As one of the very best providers of guaranteed rent in Lewisham, we want to have a look at the change and what it means for locals and investors.

The history

Historically the area was an agricultural hamlet. At the time it was known as Brockley. However, rapid expansion in the 1890s changed everything. A new station in 1892 gave the area the name Crofton Park. It has stuck ever since, but you can still see a number of uses of the previous name. This includes the Brockley Jack pub and Brockley Road running through the area.

The development of the area helped to shape its reputation. It became a popular residential spot with lots of terraces of homes and busy streets of shops. However, it fell out of fashion in the following decades with many people looking at areas in North London instead.

New popularity

While the area wasn’t popular for a long time, it developed a wonderful local community. People who did live and work there loved it.

Today though, the popularity is back in a big way. In the last 14/15 years there was a steady influx of people looking to make their money go further, trading in North London flats for bigger homes here.

More recently there has been a wave of interest, including investors that then want guaranteed rent in Lewisham. A driving force for this was the improvement in local schools. There are several now with Good or Outstanding ratings. As a result, they draw in young families from North and East London. They want to be able to send their children to school in the area and enjoy the local community.

It is also a major selling point that there is a lot to do in Crofton Park. This includes a number of places to eat, coffee shops, and some great nightlife. The Brockley Jack pub is very popular and has a wonderful little theatre in the back. In addition there is the stunning Rivoli Ballroom. Plus, there is easy access to green space nearby thanks to the South East London Green Chain.

Prices

The popularity has had an impact on prices in the area. At one point it was a very affordable part of the city. However, the average price for a house was £615,264 in 2022. This was above the average for London (£542,000 in October 22).

While the prices were high for locals, they were still very affordable for people from other parts of the city. For example, the average house price in Clapton, a popular spot in Hackney, was £666,776 at the time. Archway, a desirable area in Islington, was even more expensive at £776,147.

Locals now tend to look at other areas, particularly South East London. Many target spots like Chislehurst, Swanley, or Orpington. Their money can go further in these locations. In addition, it could get them larger properties with bigger gardens. They can be a more attractive option than the terraces in Crofton Park.

Investors can rely on our guaranteed rent in Lewisham

London has fantastic areas to suit all kinds of investment strategy. For example, you could target hotspots and popular districts where there is a very good chance of interest from renters and buyers. Or you could look for locations that locals like where your money could go further. They tend to have the best chance of big gains in the future.

Whatever strategy you choose, we can help you. Our service offers a host of benefits. Firstly, it can protect your finances. On top of that it can save you the work and responsibility of managing properties. You get all of this and more with our guaranteed rent in Lewisham.

So, get in touch today if you want to find out more.