Crystal Palace never stops growing
Crystal Palace is having a huge increase in their property prices in the last few years. John Grover, landlord of the Grape & Grain pub in Crystal Palace, reckons he can spot a south London neighbourhood heading upmarket.
Today Grover sees signs of SE19 – better known as London’s Crystal Palace – in a similar trajectory he saw the Wimbledon's SW19. “Ten years ago this pub was really ‘ick’,” he says, nursing a glass of red in the friendly bar he has run for three years. “The big change has been the overground. It opened up Crystal Palace. It’s such an up-and-coming area. Property prices are going through the roof.”
The overground line is certainly a factor in Crystal Palace’s changing fortunes. Opened in 2007, it notably improved access to London’s financial districts. The nonstop journey from Crystal Palace to Shoreditch delivers you to the City’s fringe in 28 minutes, while Canary Wharf, via Canada Water, takes 25 minutes. However, there is another reason for what, local agents report, is a 20 per cent annual rise in property prices.
New changes coming
In 2013 the Chinese developer ZhongRong Group (ZRG) announced plans to rebuild the Crystal Palace itself. The palace was an architecturally celebrated, Victorian, cast-iron and plate-glass building originally erected in Hyde Park, London, England, to house the Great Exhibition of 1851. More than 14,000 exhibitors from around the world gathered in the Palace's 990,000 square feet (92,000 m2) of exhibition space to display examples of the latest technology developed in the Industrial Revolution. After the exhibition, the building was rebuilt in an enlarged form on Penge Common, at the top of Penge Peak next to Sydenham Hill, an affluent South London suburb full of large villas. It stood there from 1854 until its destruction by fire in 1936. But later moved to the large local park that still bears its name. Widespread media coverage of the £500m proposal – brokered by the mayor of London, Boris Johnson, and billed to include exhibition and conference space, boutiques and a hotel – raised Crystal Palace’s profile further.
Those looking to buy in Crystal Palace will discover a village-like atmosphere and plenty of green space, including the Crystal Palace Park, now home to London’s National Sports Centre.
Three main streets make up “The Triangle” – a gentrified mix of independent retailers, gastropubs and restaurants – which has spectacular views of central London from its northern edge.
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You can find more details about prices in Crystal Palace in this amazing article about our area and its growth HERE.