Attractive and affluent with strong investment potential
Stanmore, in the London Borough of Harrow, is one of those locations that beg you to live there: affluent, leafy, suburban. Surrounded by green spaces and conservation areas, and with an understated high street that is home to an eclectic choice of boutique-style shops, restaurants and cafés, Stanmore property is attractive for all the right reasons. And though in Zone 5, commuters are only 48 minutes to Canary Wharf and 37 minutes to Waterloo. But this is only part of what makes it so exciting for property investors.
Regeneration and jobs creation
The local area is undergoing a massive regeneration programme, with several residential developments benefitting from views over green space. In fact, the local area benefits from a number of parks and green spaces, housing sports facilities, playgrounds and ornamental gardens. Stanmore Country Park is one of the conservation areas, a reserve that is home to much wildlife, including deer.
The borough of Harrow has been allocated a total of £1.75 billion for regeneration programmes. This will pay for the development of 5,500 new homes and two new schools. It is anticipated that these programmes will create at least 3,000 new jobs.
Regenerative and development programmes benefitting Stanmore property will connect a number of new neighbourhoods by paths and green spaces, giving a village feel to the whole.
A place for families and young professionals
Stanmore property has traditionally been snapped up by families. Apart from the many open spaces and sports facilities available, it benefits from exceptional education establishments. Near Stanmore Park are Whitchurch First and Middle School, and Park High School and Stanmore College have excellent pedigrees. North Collegiate College is one of the country’s top independent schools for girls.
With travel links to Heathrow (34 minutes) and the north within easy reach, and the heart of London similarly accessible via the regular tube service from Stanmore Station, the location is also proving popular with today’s young professional moving up from smaller rented apartments in central London.
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Affluent and affordable – great investment potential
One of the most attractive things about Stanmore property is its affordability. When compared to homes in Zones 2 and 3, median prices here are far more attractive. The average asking price for a 3-bedroom home here is £697,528 (May 2016) − that’s 8% higher than a year ago. This rate of growth is likely to increase as the ripple effect gathers pace. For buy-to-let landlords this already represents a good deal: with average rent on a 3-bedroom home in Stanmore currently £1,814 per month, the gross yield is 3.12%. Price growth and demand for rental properties looks set to outstrip other locations that have already outlived their ‘hotspot’ status.
That will prove to be good news for capital growth and rental values. Property investors who make the move now have not seen the best of the potential here − far from it.
To discover more about the opportunities and fundamentals underpinning Stanmore property investment opportunities, call the team on +44 207 923 6100 today.