As a landlord, it’s important to know the best areas with the most opportunities to rent out your property. There are plenty of thriving locations to choose from, especially in north and east London.
A city as expansive and diverse as London means it can sometimes be tricky knowing where to look first. With that in mind, here at Kings Group we’ve lifted the lid on four hidden gems that offer great opportunities for landlords and investors.
An area in the process of renovation, Tottenham boasts over £1 billion of redevelopment funds committed to regeneration. Over 10,000 new homes are being built, welcoming plenty of home movers. There are three tube stations and five train stations in the area (all in Zone 3), with the fastest link to Liverpool Street from Tottenham Hale being only 15 minutes.
With rich cultural diversity and a strong sense of community, Tottenham boasts high-performing schools, local independent shops stretching from Seven Sisters as far as White Hart Lane and plenty of open space.
Tottenham is one of the most affordable areas in London, and property here makes for an astute investment for landlords. The area consists of a mixture of Victorian terraces, new build flats and Georgian and Edwardian homes – likely to attract young professional renters. It is also home to the Tower Gardens Estate, with 954 houses across 24 streets. According to Zoopla, the average sold price in Tottenham has increased 1.38% over the last year.
Average rental value for a three-bedroom property: £1,750 - £2,000
Average property price range: £425,000 - £475,000
Known as one of the most fashionable postcodes in London, Hackney retains an authentic feel, but is also home to upgraded housing and new state schools, and a range of new gastro-pubs, restaurants and bars. Hackney Central (Zone 2) is on the overground, while Hackney Downs and London Fields have trains to Liverpool Street that take between seven and 13 minutes.
Mare Street – known locally as The Narrow Way – is the main shopping street, largely dominated by small grocers, bargain stores, household and fabric shops. However, some of Hackney’s charm is tucked away from the main roads, with other bars and cuisines found hidden on side roads.
Hackney has seen increased property prices in recent years and is full of period terraced houses and canal-side apartments that are highly sought after. There is also a choice of more accessible properties, though. Development plans have made Hackney a promising area, with lots of warehouse conversions. The average sold price in Hackney has increased 8.02% over the last year, according to Zoopla.
Average rental value for a three-bedroom property: £2,250 - £2,750
Average property price range: £575,000 - £650,000
This north west London district is tipped to overtake the likes of Shoreditch and Islington as one of the capital’s go-to locations for renters. While being a core part of London life, Walthamstow is also surrounded by lush green space, making it an ideal area for renters who enjoy walking, cycling and other outdoor activities.
Walthamstow tends to attract young families on the hunt for good primary schools and a house with a garden. The area also has one of the longest markets in Europe, running almost the length of the high street from the town centre to St James Street station. Transport is another bonus, with Walthamstow Central and Blackhorse Road stations at one end of the Victoria line, guaranteeing renters a seat in the morning rush hour.
The area’s housing consists of distinctive Warner houses with painted roofs and entrance arch framing two front doors. With the homes eventually being split into two, they are still some of the most desired properties in the area. According to Zoopla, the average sold price in Walthamstow has increased by 5.53% over the last year.
Average rental value for a three-bedroom property: £1,750 - £2,250
Average property price range: £475,000 - £525,000
Just nine miles north of central London, Enfield is the attractive cobbled space that feels more like a market town than a London suburb. Offering a rich history and great restaurants, the area also boasts local ‘outstanding’ primary schools and an array of shops, parks and open spaces.
Enfield’s busy town centre with a recently upgraded shopping centre, the Palace Gardens, also attracts many home movers. The area sits close to the M25, and Enfield Town and Bush Hill Park stations have trains to Liverpool Street, taking 35 minutes.
Choices of property in Enfield are plentiful, ranging from modern, purpose-built blocks to Victorian terraces and large Edwardian properties. The area is popular with families looking for semi-detached properties with decent-sized gardens and off-street parking. The average sold price in Enfield has increased by 4.52% over the last year, according to Zoopla.
Average rental value for a three-bedroom property: £1,500 - £1,750
Average property price range: £400,000 - £450,000
From the above, it’s clear that many areas in London can offer great investment opportunities for landlords. Therefore, if you’re considering letting your property, these locations could be a good place to begin your search.
Wherever you decide to rent out your property, as expert London letting agents, we’re on hand to support you through the entire process.
For more information about buy-to-let in these in east London, Hertfordshire or Essex, contact your local Kings Group branch today.
We also offer a free instant online valuation so you can see how much your property could be worth on the current market.