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Harrow makes it into top three London boroughs for rental demand
July 27, 2015Article by Charlotte Ashton
New data from Rentify covering the three months to July 2015 has shown that Harrow has made it into the top three London boroughs for rental demand. Kingston took the top spot, followed by Bexley in second place and Harrow in third.
A thriving area
The leafy Harrow on the Hill area has long been a popular spot with Londoners and buy-to-let properties there have offered solid capital growth as well as rental returns. Leading property investment specialists Property Frontiers introduced a selection of apartments in the borough to investors recently, offering an affordable entry point into the London market with good potential for strong yields. Now, the new Rentify figures have highlighted what a good choice the development was.
Ray Withers, Chief Executive of Property Frontiers, comments,
“Obviously as a property investment company it behoves us to stay ahead of market trends in order that our clients can gain the maximum benefit from their investments. Harrow is an excellent example of this. The development was extremely popular, thanks to its low (for London) entry point and the potential for good returns. And now the strong rental demand in the area is ensuring that our clients remain delighted with their investment.”
It is the rising cost of property further in to London that is pushing renters outward. Areas like Harrow that enjoy excellent transport connections are benefitting the most, just as Property Frontiers predicted when they first began looking at the borough’s investment potential.
Property prices in Harrow are rising too – they have gone up by 5.58% in the past year, according to Zoopla. For buy-to-let investors, this is further positive news – not only is rental demand soaring but they can benefit from capital growth as well.
A solid future
It is this combination of factors that encapsulates Property Frontiers’ approach to the property investment opportunities that it offers to clients.
“Solid investments are what we are about,” explains Ray Withers. “We aim to use our knowledge of the market to find properties that will be highly sought after yet offer investors an affordable entry point. The success of developments such as that in Harrow is a fantastic affirmation of how well we have managed to balance the various factors involved in property investment. Finding the perfect investment opportunity can be a complex task, but thankfully it’s one that we relish.”