Harringay, Haringey - So Good they Spelt it Twice!
RE PROPERTY PRICES IN HARINGEY
Did any one notice in the news the other day that they are saying that the average property prices in Haringey are 1/2 a million. I know we may be heading for a bubble - but what area does this equate to -Crouch End, Muswell Hill etc yes and likely low on the estimated side but what about Tottenham, Woodgreen? - I know it rising and the face of Tottenham is changing dramatically wit house prices clearly going up by 30% in some areas in the last year.
Replies to This Discussion
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Permalink Reply by Finsbury Park Ranger on
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One report is predicting haringey to keep going ballistic until 2023 ...
http://www.housing.org.uk/media/press-releases/working-londoners-fo...
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Permalink Reply by Leslie on
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A small 3 bed Victorian terraced house in Bruce Grove just sold last week for over £500k if that answers your question!
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Permalink Reply by Shez Shez on
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Outrageous! and it isn't going to get any better- wonder if Tower Gardens in Tottenham N15 will become another Hampstead Garden superb -its the same architect and the little cottage type houses are unique and with a little TLC from some of the tenants could easily be so! Thanks for your reply!
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Permalink Reply by John McMullan on
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I remember thinking £360,000 was an outrageous amount for a four bedroom house just off Stapleton Hall Rd in 1998. My wages haven't really moved much since then.
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Permalink Reply by SarahC on
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I have a clear memory of a conversation in about 1997 in which I said "But no [one-bedroom] flat in Stoke Newington is worth £90,000!"...
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Some streets are going up by closer to £200 a day and not £100 a day as the report suggests and have been doing so consistently for the last two years.
We're looking at 2 bed houses being worth a million in just six years time if this keeps up that fast for some streets.
If that did happen then even the prime minister wouldn't be able to buy a small house in wood green with a mortgage from the bank by 2020 without massive savings .
Food for thought.
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Permalink Reply by Zena Brabazon on
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I live in Tottenham Hale - at the centre of the Council's plans for building 20 storey tower blocks over the next several years. But walk away from the station and its residential streets of terraces leading up to Tottenham High Road. Currently our streets are seeing a spate of conversions with lofts, extensions and sheds, to turn 3 bedroom family homes into Houses in Multiple Occupation. How do we know? Because we can see the partitioning through the windows, because of the planning applications for permitted development and because the new owners/landlords have told neighbours. The price of the houses doesn't matter to these people, but as prices keep rising they become more able to buy as they have cash or ability to borrow against their existing property portfolios. They price out other people who may just want a family house or flat.
This spate of HMOs is also fuelled I believe by the benefits cap. Round here the Council has rented many properties from landlords for temporary accommodation for families. The benefits cap has made that more difficult as rents are now higher than families can afford or Housing Benefit will pay.
As families are moved out, the landlords can turn their properties into HMOs renting out on a room by room basis. As I see it this is yet another consequence of the benefits cap. Yet this will undermine any regeneration and continue to blight our neighbourhood. (And many others in Tottenham). As more properties are bought up by landlords, families won't want to come, and existing residents may well want to move. So much for regeneration. Sadly I doubt that all the regeneration plans for Haringey include any thinking at all about what's happening on our residential streets. Its a lot harder and less glamorous to deal with these issues than schmoozing with developers, yet the impact on communities is very serious indeed.
Zena Brabazon
Councillor, St. Ann's Ward
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I don't see how the benefits cap is creating more HMOs in fact the opposite. If the govt isn't going to pay these landlords mortgages any longer and rents are increasing then they move on to the next cheap area to invest. House prices going up is meaning more families moving priced out of more expensive areas not less.
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Permalink Reply by Michael Anderson on
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One of the impacts is that people will look for cheaper accommodation to get below the cap. Forming two studios at £200 per week each from what once was a one bed flat at £300 per week gives the owner two cheaper places to let but the combined rent is more than the one bed. The landlord simply can't lose.
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I see what you're saying. All I see here in Bruce grove are families moving in and houses being restored to original features etc.
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None of the parties has proposals to deal with this. A property tax is needed to, in part, replace the council tax so that owners pay their due and can't write off the gains of owning property that is going up in value by leveraging it all to interest costs which are written off or by having occupants on benefits that so many properties owned by such landlords do not contribute financially to the areas services escape.
But the parties don't have the courage to tackle the crisis. They talk but do nothing about real problems until we have a crisis and then they fight the fires with a small extinguishers!
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Permalink Reply by Bülent on
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Beaconsfield Road N15 - Three bed house being sold by Ellis & Co. for £499,995…and it’s the worst house in the street. So bad that they haven’t included a photo of the front of the house (it’s the yellow one you can see on Google if you’re interested!).
http://www.zoopla.co.uk/for-sale/property/london/beaconsfield-road-...
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