House prices in London are a massive topic for investors all over the world. There have been predictions of big drops in 2023 because of high interest rates and mortgage availability. Some areas have seen a fall in values, with sellers accepting discounts to make a sale. However, other locations have gone the opposite way. We want to take a look at figures for June for one of the best areas for recent performance. Then if you want to learn more about guaranteed rent in Haringey, we can help.

A strong June

Haringey has become one of the most popular spots in North London in the last few decades. It has consistently attracted people because the house prices are more affordable than areas like Islington. At the same time, gentrification is improving spots and making them more desirable.

In June the area had an impressive 1.6% increase in house prices according to Land Registry data. This built on a slight 0.5% growth in May. As a result, the average was £609,591.

What makes this interesting is the growth was massively above the average for London and the UK as a whole. Taking into consideration all areas in the capital, the growth was just 0.5%. UK-wide it was 0.7%.

The annual increase was impressive too. Year on year house prices in Haringey in June were up by 4.7% on 2022. In the period the average home gained £28,000 in value. That was the third biggest increase in the whole of London.

Again the picture looks even better when you compare it to the averages for the capital and the UK. The year on year change in house prices in London was actually down by 0.6% because of some big drops in a handful of areas. The UK as a whole had 1.7% growth.

A popular spot for everyone

Whether you invest and choose guaranteed rent in Haringey or are looking to buy your own home, the area has something for everyone. It is popular with first time buyers as well as people taking the step up the property ladder.

If you look at the increase in values of different property types in the area, it paints a great picture. Surprisingly, the biggest increase in prices was for flats. They were up 1.7% in June and 5.7% year on year. It pushed the average up to £501,298.

Houses did not fare quite as well, but still had a strong period. The leader with June growth was terrace homes with 1.7%. Semi detached houses were second with 1.3%, but had a stronger year with 4.9% compared to 3.6%. Detached homes were up 0.2% MoM and 2.7% YoY.

Speak to us about guaranteed rent in Haringey

If you are thinking about investing, it is a good idea to look ahead and think about how much rent you could receive. It is also important to think about potential issues like periods when you don’t have tenants. Ideally you want to ensure you will be earning a nice income with minimal risk of losses.

Rent guarantees are an excellent option here. They provide security by removing the responsibility to find tenants. Instead, the local council will do that and make sure you get rent payments without fail. That means they protect your ROI and save you a great deal of work too.

So, if you want to find out more about guaranteed rent in Haringey or other parts of London, contact us. We’re one of the most experienced experts in the city.