The Demographics of Harringay’s Population

Harringay is a vibrant and diverse area located in the north of London. With its rich history and cultural diversity, it is a sought-after location for property investors looking to invest in buy-to-let properties. In this article, we will explore the key factors to consider when investing in a buy-to-let property in Harringay.

Population Size

Harringay has a population of approximately 60,000 people, and it is growing at a steady rate. According to recent statistics, the population of Harringay has increased by over 10% in the last decade. This growth rate is higher than the average for London boroughs, which is around 8%. This indicates that Harringay is a popular location for people to live, and as the population continues to grow, demand for housing will likely increase.

Age of the Population

The age of the population in Harringay is relatively young, with the majority of residents falling between the ages of 25 and 44. This is in line with the trend in London, where the median age is 35.9 years. However, it is important to note that there is a significant number of older residents in Harringay, with a sizeable proportion aged 65 and over. This diverse age range means that there is a market for different types of housing, from small flats to larger family homes.

Employment Rate

The employment rate in Harringay is higher than the national average, with around 75% of the population employed. This is in line with the trend in London, where employment rates are higher than in other parts of the UK. The high employment rate in Harringay is due to its proximity to the city and the availability of job opportunities. This means that there is a steady demand for rental properties in the area, as people move to Harringay for work and need a place to live.

Education Level

The education level rate in Harringay is also higher than the national average, with over 40% of the population holding a degree or higher qualification. This is partly due to the presence of Middlesex University in the area. In addition, there are several primary and secondary schools in the area, making it an attractive location for families with children. The student population in Harringay is also significant, with around 10,000 students studying in the area. This creates a demand for student accommodation, which is an excellent opportunity for investors looking to enter the rental market.

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Renter vs Homeowner Rate

The rental market in Harringay is strong, with approximately 55% of properties being rented and 45% being owner-occupied. This compares to the London average of 49% rented and 51% owner-occupied. The high proportion of renters in Harringay may be due to its popularity among young professionals and students, who prefer the flexibility of renting over buying. When considering a buy-to-let property, it is important to consider the rental demand in the area and the potential rental yield.

Crime Rate

The crime rate in Harringay is lower than the national average, with a crime rate of 85 crimes per 1,000 people. This is lower than the average for London, which is around 100 crimes per 1,000 people. This means that Harringay is a relatively safe area, which is an essential consideration for potential tenants. Investors can be confident that their properties will be in demand, as tenants will be attracted to the area’s low crime rate.

In conclusion, Harringay is an excellent location for property investors looking to invest in the buy-to-let market. The population is growing steadily, and the area has a young and diverse population, employment rate is high, and the education level rate is above the national average, which all makes Harringay a great option for renters and investors alike. 

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