Croydon led the way for outer London last year as the number of homes being built in the capital soared by a third.
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.
“We said the market was supercharged last year, this year it’s gone ballistic,” Nigel Evans, head of LRR, told Estate Gazette.