New rental living report shines a spotlight on Croydon

A detailed mystery shopping analysis of eight leading rental living schemes in Croydon also provides a valuable benchmark for understanding how the market is performing, highlighting significant opportunities. 

Home to 390,719 residents, with a population that grew by 7.5% from 2013-23, Croydon is one of south London’s major commercial and cultural hubs, playing a pivotal role in the capital’s growth strategy and the wider South East economy. 

A £5.25bn regeneration programme is transforming the borough, delivering 14,500 new homes by 2041, along with modern workspaces and revitalised public spaces. This adds to exceptional transport connectivity (1,000+ rail services per day) and a thriving arts and cultural scene, supporting Croydon’s strong population growth. Particularly notable is the in-flow of young newcomers in recent years; 56% of new residents were aged 20-39 in 2023. 

With 37.4% of residents aged between 25 and 49, Croydon’s dynamic working age populace is contributing to the borough’s position as London’s largest SME base. Croydon also leads the capital in microbusiness growth, with a 24% surge in microbusinesses in 2024 alone. Across the borough, employment grew by 12% from 2011-21, with expanding commercial hubs attracting not just SMEs but corporate headquarters and new industries. 

The strong population growth and in-flows of young, working-age households are reinforcing Croydon’s rising housing need, with three key areas attracting people to live and work. The town centre – one of the largest and most important in London – is undergoing extensive regeneration and is home to major public and private employers. East Croydon is a key transport gateway, with fast connections to London Victoria (15 mins), London Bridge (15 mins) and Gatwick Airport (14 mins). It’s also home to Boxpark Croydon, a major food and beverage and entertainment hub. Purley Way serves as the borough’s strategic logistics and retail corridor, offering potential for further intensification and economic output over the coming years. 

With rapid growth and a youthful population underpinning its thriving rental living sector, Croydon has a strong pipeline of key developments, including One Landsdowne Road (806 BTR homes plus retail and workspace), CityLink House (498 co-living units and 84 affordable homes) and Botanical House (447 BTR homes). All three received planning approval in 2024 and will add to the eight major rental living schemes from seven different operators (including Greystar, Native Communities, urbanbubble and Fresh) that are already open and operational in Croydon, five of which have opened in the past three years. 

GAA Living’s Croydon Report also reveals the findings of the firm’s mystery shopping exercise undertaken across eight open and operational BTR assets in Croydon to benchmark the leasing, service and operational standards for this living sector market. 

Over a three-month period GAA Living applied its 30+ years of global experience to looking at eight major categories: quality of portals, online presence, viewing booking process, in-person viewings, unit and common areas, amenities and services, end of viewing and follow-up, and feedback and training. With 140 data points per mystery shop and 100+ comparables across multiple markets, the mystery shop serves as a clear reference point for future comparisons as Croydon continues to evolve. 

Combining quantitative and qualitive data collection, feeding into benchmark comparisons and tangible improvement plans, the mystery shop found a significant gap in consistency across the leasing journey in Croydon. Performance across the operators varied widely, with overall scores ranging from 15% to 99%. Some operators demonstrated clear professionalism, responsiveness and strong in-person experiences, while others fell short in multiple areas. Only one operator delivered exceptional customer experience throughout the process, setting the benchmark for the Croydon market. While some consistently performed well across areas such as customer service, digital integration and property presentation, others demonstrated a weak marketing presence, unprepared tours, limited resident engagement and poor branding. 

This considerable variation in performance highlighting both a challenge and a significant opportunity for Croydon’s rental living sector. Ronak Rawal, Senior Director, GAA Living, comments: “By consolidating results across all key stages of the leasing process, the mystery shopping assessment establishes a valuable benchmark for investors and operators keen to understand how the market and their assets are performing. Given Croydon’s position as one of London’s most attractive locations for residents, businesses and investors, this will be an important tool for those looking at the future of rental living in the borough.”