Harrow is a popular borough located in northwest London. It's known for its excellent transport links, good schools, and diverse population. If you're considering investing in property in London, Harrow is a great place to start. Here's why.
Rising Property Values
Harrow has steadily increased property values over the past few years. According to Zoopla, the average property value in Harrow is currently £545,000, which is slightly above the London average. However, this figure is expected to continue to rise as demand for property in the area increases.
While past property price increases do not guarantee future performance, investors in Harrow have experienced favourable capital appreciation in the past. According to research on property xyz, property in Harrow has seen a growth of roughly 31% in the last five years.
Strong Rental Demand
Harrow is a popular area for renters, with a high demand for both long-term and short-term rentals. This is due to its proximity to London, excellent transport links, and good schools and amenities. If you're looking to invest in a buy-to-let property, Harrow is a great choice.
How much can you earn from Harrow properties? On average, a long-term rental in Harrow yields 3.5%, as reported by property.xyz. However, certain areas in Harrow can generate up to 5.5% in rental income.
Harrow Council requires landlords who are interested in buying or setting up a house in multiple occupations (HMO) to obtain a license. Landlords can obtain information about the necessary licenses from Harrow Council.
Excellent Transport Links
Harrow is well-connected to the rest of London and beyond, making it a popular choice for commuters. It's served by several tube stations, including Harrow-on-the-Hill, North Harrow, and West Harrow, which provide easy access to central London. Harrow is also close to the M1 motorway, which provides access to the rest of the country.
Harrow is known for its excellent schools, both primary and secondary. There are several outstanding schools in the area, including Harrow School, John Lyon School, and St. Dominic's Sixth Form College. This makes Harrow a popular choice for families with children.
Harrow has a diverse population, with residents from all over the world. This has created a vibrant and multicultural community with a wide range of shops, restaurants, and cultural events. This diversity is one of the things that makes Harrow a great place to live and invest in property.
To Sum Up
If you're considering investing in property in London, Harrow is a great choice. It has seen a steady increase in property values over the past few years, and there is strong rental demand in the area. Harrow is well-connected to the rest of London and beyond, with excellent transport links. It's also known for its good schools and diverse population. With all of these factors in mind, it's easy to see why Harrow is a popular choice for property investors.
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