The area of Haringay is full of contrasts, from the wealthy and exclusive areas of Highgate, Muswell Hill and Crouch End in the west of this London borough to the more deprived sections in the east, such as Tottenham and Wood Green.
With the borough covering 11 square miles and providing such diversity, investors need to take care in choosing the right street to invest in.
If they get to invest in the borough, landlords can typically achieve a monthly rent in this north London borough of £1,171, producing an average yield of 3.53 per cent. It typically takes just three weeks to rent out a property, according to figures from Rentify.
The borough has some well-known landmarks such as the Alexandra Palace exhibition space, which plays host to large events and concerts, and has extensive views across the capital.
The view includes plenty of green spaces, such as the wooded areas around Highgate and Muswell Hill along with Finsbury Park. The borough’s parks have been so well maintained that they have achieved Green Flag status, which is the highest accolade awarded to any London borough.
It is Haringay’s abundance of open space that has helped it to be named one of the capital’s greenest boroughs. The accolade was also in recognition of its clean air and dedication to recycling.
It has a household recycling rate of 36 per cent, while 69 per cent of residents live within easy reach of open space. All of these green credentials have helped to boost house prices in the smartest parts of the area.
Indeed, on the borough’s broader is one of the most expensive roads in the world – The Bishops Avenue, which is a tree-lined road full of multi-million pound mansions. It is often referred to as ‘Millionaires’ Row’, although more recently it has been referred to as ‘Billionaires’ Row as it home to uber-rich monarchs, business magnates and celebrities.
One local estate agent was quoted in 2006 as saying: “Among the wealthiest circles in the world, The Bishop’s Avenue is better known than Buckingham Palace. It’s a significant demonstration of status. If you live there, you don’t need to explain to people that you’re rich.”
For those on a budget and dependent on public transport, Haringay has good links via the London Underground as it has access to the Piccadilly, Victoria and Northern tube lines. It is also well served by various London Overground and mainline rail connections.