Although growth in property prices has slowed recently, values still reached record highs in England and Wales according to data from Rightmove. In April the average value was £313,655, the best sales figure since 2007 before the credit crunch. In the month the price of properties coming to market was up 1.1% and 2.2% year on year.
Some areas have fared better than others in terms of growth. This is most noticeable in London. Camden has seen falling values at the same time that Havering and Redbridge have seen rises of 3.9% and 3.8% month on month respectively.
Haringey saw the second largest growth in terms of year on year figures at 11.2%. Only Westminster fared better at 14.1%. At the same time Camden, Hounslow, and Kensington and Chelsea all saw falls.
Surprisingly a lot of the growth is being driven by first-time buyers. According to the data there is strong activity from people looking to get on the property ladder. Buyer activity has seen a 10% rise in sales agreed in the period in comparison to 2016. This is also the highest since 2007.
One of the reasons Haringey has fared so well is it still has some very affordable locations. These are attractive to first-time buyers and investors alike. The central location is attractive too, putting residents just a short distance to the north of the centre of London.
At Finefair we provide a number of services for investors and landlords. One of them is guaranteed rent in Haringey, allowing us to offer assurances on rental incomes for a period of time. We have a lot of experience managing and letting properties, ensuring that every home is in safe hands.
We have established ourselves as a leading provider of guaranteed rent over the years, delivering reliable services that landlords will appreciate. If you would like to learn more please get in touch with our team. We can offer advice and recommendations for you.