Some negativity surrounding north London location Tottenham – which reached its nadir during the 2011 riots – may previously have put buyers off the area. But significant regeneration, and in particular the arrival of Tottenham Hotspur’s brand new 62,000-seater stadium, is starting to alter perceptions.
What’s more, Tottenham and its surrounding areas are still some of the most affordable in London, which makes it in-demand among first-time buyers and those looking for a relative bargain in a location with easy connections to more central areas.
A world-class sports arena
It’s been in the offing for a number of years now, but Spurs’ new home – which could end up costing £1 billion and will ensure it has the largest attendance of any London club – is nearly complete. The inaugural game, against Liverpool, is pencilled in for September 15, while the stadium has been designed with NFL games in mind to ensure it’s a multi-purpose venue.
This will bring both top-level football back to the Tottenham area following the demolition of White Hart Lane and the short-term move to Wembley, and the prospect of NFL games drawing in the crowds too.
It has also given a much-needed boost to the wider area – in particular previously run-down Northumberland Park. The redevelopment of White Hart Lane and the surrounding land – known as the Northumberland Park Development (NDP) scheme – was granted planning permission by Haringey Council in 2011.
Phase 1 of the scheme, which included a new Sainsbury’s superstore, a sixth form college and the club’s administrative offices, is already complete – once fully complete, the development will include 579 homes, a health centre, a museum dedicated to Spurs, a new club store, a new public square and a 180-room hotel.
In addition to this, the wider area is set to be regenerated thanks to a development deal struck up between construction firm Lendlease and Haringey Council. This will see the company regenerate the area surrounding the new stadium, with the promise of 2,500 homes and 3,500 jobs.
Proposals also include public spaces with shops and restaurants, a library, a community park, a community centre and a new Tube station to get supporters to and from the new stadium with ease.
The first phase of the project – labelled High Road West – is expected to begin at some point this year.
As well as the ongoing regeneration, with more than 10,000 new homes and 5,000 new jobs anticipated to be created in the coming years, Tottenham already has much to recommend to property buyers.
For one, it’s one of the most affordable locations in the capital, although sellers won’t be displeased with an overall average price of around £450,000 – more than 5% up on the year before and 25% up on 2015.
Secondly, it’s a lively, cosmopolitan, culturally diverse area, with an eclectic range of restaurants, cafes and bars on offer. There are large Afro-Caribbean and West African communities, while the area has also long been a popular hotbed for Kurdish, Turkish, Turkish-Cypriot, Irish and Portuguese people.
Thirdly, and perhaps most importantly for those who commute, it’s very well-connected. While it’s true that access to the area surrounding the stadium itself could be improved, in general transport links are excellent, with Seven Sisters and Tottenham Hale (both on the Victoria Line) acting as the main transport hubs. Oxford Circus and the West End can be reached in around 15 minutes.
It’s also a hotbed for National Rail services, with Seven Sisters, White Hart Lane, Tottenham Hale, Bruce Grove, Northumberland Park and South Tottenham. Liverpool Street is 15 minutes away, and London Stansted is just 40 minutes on the train. Buses are also plentiful.
Buyers will also be drawn to the wide range of property on offer, ranging from Victorian terraces and new-build flats to elegant Georgian and Edwardian homes. It’s a family-friendly area – with plenty of green space, nurseries and schools on offer – and is also becoming increasingly popular among young professionals priced out of more central areas. There is plenty to do, with lots of places to eat and drink, museums to visit and the nearby River Lea to explore.
Why sell now?
It’s a great time to sell a property in Tottenham, mostly because of the buzz (and increased media interest) surrounding the new stadium and the wider regeneration of the area. Tottenham has rarely been in the news so much for positive reasons; as a seller, you can use this to your advantage by pitching your home to buyers as a property in a thriving, up-and-coming, revitalised area.
It could be good to strike while the iron is hot, and while interest in Tottenham is high. The regeneration and heavy investment should certainly help your cause, as will your ability to point to solid transport links and a surprising amount of green space close by.
Now is also a good time to put your home on the market, ahead of the post-summer holiday boom in demand. You will want to get in ahead of the competition, ensuring your home is one of the first prospective buyers will see.
For more information about getting your home sold in Tottenham or the wider area, contact the sales team at our Kings Group Tottenham branch on 0208 801 2696.
You can also find out more about the area, who we are and what we can do for you, by clicking here.
We also provide a free instant online valuation to give you an idea of how much your home could be worth in the current market.