Landlords, investors & anyone looking for their next home are always on the lookout for property bargains, but will they be harder to find in Crawley?
The recent announcement that £443million is to invested in the Gatwick Diamond area with Crawley at its heart should surely increase the pressure on the housing in the local area.
Popular investment properties are the one bedroom maisonettes in Southbrook, Tollgate Hill. Last year they were selling at £125,000 but 10 years ago they were being sold at £89,500, that’s a 39% increase in value. Despite the recession and housing “crash” anyone who had invested in one of these great little properties has seen the value increase by 39% through it all. Popular with airport staff because of the direct FastWay routes to both terminals the rents have risen by 30% during the same period.
Gatwick currently employs 23,500 staff, who knows what this will climb to if Gatwick gets its wish for the second runway in 2019. The three bedroom family houses in Southgate Drive, Crawley could be bought for £165,000 in 2004 – the latest sale this year was at £227,500 – an increase of 37%. Based on the past 10 years data and looking at the possibilities for the investment in the Crawley area and what could happen with the second runway at Gatwick it could be that any property deal in the area will turn out to be a good deal.