Areas of Haringey: Buy-to-Let Property Investment Hotspots
Haringey is probably one of the less well known London boroughs. But Haringey has a great accessible location within easy reach of everything that’s going on in London. Haringey also offers some good value property investment opportunities.
Why Invest in Haringey?
The London Borough of Haringey is a north London borough. Haringey has borders with the boroughs of Barnet, Camden, Enfield, Hackney, Islington and Waltham Forest too.
Haringey is made up of several different suburbs including Bounds Green, Bowes Park, Crouch End, Highgate, Hornsey, Muswell Hill, Seven Sisters, South Tottenham, Tottenham, Tottenham Green, Tottenham Hale and Wood Green.
Haringey is often confused with Harringay but they are different places. Harringay is part of Haringey!
Haringey postcodes are N4, N8, N10, N17 and N22.
Haringey Council is the local authority for the Haringey area.
Haringey has excellent transport links both around the area and into London. It has services on the London Underground Piccadilly Line, Northern Line and Victoria Line, London Overground and also national rail services to central London, Essex, Hertfordshire, Cambridge and Stansted Airport. It’s possible to be in central London within just 15-20 minutes from many parts of Haringey borough.
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Haringey is right on the A10 south into the City of London and north towards Enfield and Cambridge. It’s also right on the A406 North Circular Road.
Haringey is known for its arts and cultural scene and its diversity. It’s said that over 200 different languages are spoken in Tottenham alone. Haringey is also known for the famous Alexandra Palace, Alexandra Park and Finsbury Park. Tottenham Hotspur Football Club or Spurs are located in Haringey borough.
While the area has some expensive streets some parts of the borough are deprived and suffer from social problems. However, Haringey Council has regeneration plans, underway and proposed, for the area to make Haringey a better place to live and work. There are plans to bring more than 5,000 jobs and 10,000 new homes plus 1 million sq.ft. of new employment space to Tottenham over the next few years. There are plans to build around 1,000 more new homes in Hornsey. Tottenham Hale is undergoing extensive regeneration and development as a new residential suburb.
Property Values in Haringey
North London can be an expensive part of London in which to buy or invest in property but Haringey borough is affordable compared to many. Haringey property prices are still within around 10% of the London average.
Across the London Borough of Haringey, the average property price is currently around £577,600 according to HM Land Registry. This compares to the London average house price of approximately £518,000.
It is possible to buy cheaper property in some parts of Haringey. Zoopla listings show that Haringey property prices start at around £135,000.
Where are the cheapest areas of Haringey? Where are the most expensive areas of Haringey? Rightmove figures report that the most expensive area of Haringey is Holly Village where average prices are around £1.5 million and the cheapest part of Haringey is Wood Green where average prices are around £400,000.
How much can I make from property investment in Haringey? Past property price rises shouldn’t be taken as an indication of future price rises but Haringey property investors have enjoyed good capital appreciation in the past. Research on property xyz suggests that property in Haringey has delivered around 24.2% growth over the past five years.
Rental Demand in Haringey
The property rental market across Haringey is mainly for locals and commuters. To appeal to central London commuters a buy-to-let needs to be convenient for a tube or rail station, however.
How much can Haringey landlords earn from a rental property? Actual rents depend on the type of property and location. However, figures from Home.co.uk’s Tottenham Market Rent Summary suggest that the average monthly rent in the Tottenham area of the borough is currently around £1,809.
Their statistics say that average rents for different types of houses or flats in Tottenham are currently: £1,213 PCM for a one-bed property, £1,560 PCM for a two-bed property, £1,984 PCM for a three-bed property and £2,659 PCM for a four-bed property. (Achievable rents and rents for different parts of the borough should be checked with a local letting agent.)
What are Haringey property yields like? Yields in Haringey for a long let are 3.2% on average according to property.xyz. Some areas of Haringey can offer up to a 5.1% letting yield.
Landlord licensing in Haringey. Landlords who want to buy or set up an HMO or house in multiple occupancy in Haringey can find out more about the licences needed from the Haringey Council, here.
Some areas of the borough also have a selective licensing scheme meaning all rental properties require a licence.
Haringey Council also has an Article 4 direction in some areas of the borough which means you need planning permission to set up a new HMO.
Property Investment in Haringey
Population: 268,600 approximately
Average House Price: £577,600
Haringey offers investors a range of property types including terraced properties, some period houses on leafy streets, flats and houses on large housing estates and smart new build houses and apartments.
The southern parts of Haringey borough have become popular in recent years with those looking for better value and more space than more expensive neighbourhoods to the south and east such as Stoke Newington, Hackney and Walthamstow.
Bounds Green is on the north eastern edge of the area. It is a mixed residential and commercial area with good tube and train links.
Nearby Bowes Park is a quiet part of the borough. It is a mainly residential area with prices around the area average. It also has great train and tube links.
Crouch End is a fashionable residential area. Prices are well above average for the borough.
Harringay is in the south of the borough. It has stations on the London Underground and mainline rail offering easy access to London. The area is known for its Turkish community and its popular main street, Green Lanes, which offers local shops and eateries. The so-called Harringay Ladder area is becoming a very popular residential spot with those looking to move into the area.
Highgate is partly within Haringey. Highgate is an expensive property area where buy-to-lets are mainly for the very wealthy as well as celebrities. Holly Village has the area’s most expensive properties.
Hornsey is in the west of the borough. It has built up around the original old Hornsey Village but now has many more contemporary properties too. Hornsey has good transport links and easy access to the green space of Alexandra Park and Queen’s Wood.
Muswell Hill is in the west of the borough close to Alexandra Park and Alexandra Palace. It is an upmarket residential area with higher-priced properties.
Northumberland Park is part of Tottenham. It comprises several housing estates that have undergone regeneration in recent years.
Tottenham is in the east of Haringey borough. It is one of the main commercial centres in the borough. Tottenham is generally a good value property area with house prices around 20% below the borough average.
Individual parts of Tottenham include South Tottenham, Tottenham Hale and Seven Sisters.
Tottenham Hale is a one-time industrial area that has been redeveloped as a residential suburb in recent years. It has good tube, rail and road links, a useful retail park and other amenities and access to open space in the Lea Valley. Tottenham Hale property prices are around 25% below the Haringey average and it is considered an up and coming area.
Here’s more information about the best areas of Tottenham to invest in buy-to-let.
Wood Green is in central Haringey. It is one of the main commercial centres of the borough with a good range of shops and services. Wood Green property prices are below the Haringey average.
Property investors who are interested in investing in Haringey property may also be interested in other nearby areas: