Crouch End has become one of North London’s hot spot areas. Located in the valley between Muswell Hill, Highgate and Finsbury Park, N8 has seen a surge in popularity, particularly among residents from nearby areas who are looking to get a bit more for their money. Lettings prices in Crouch End tend to be in the region of 8 - 15% less than those in N6.
The high levels of interest in Crouch End began in early 2011, with prices rising by as much as 10% between 2011 and 2012. Activity has still been incredibly high this year, however influences from the sales market can be felt and we’ve noticed a slight decline in the number of tenants looking to rent compared to last year. Easier mortgage lending from banks and government initiatives like the Help to Buy scheme have combined to make it much easier for first time buyers and as a result many of our tenants have seen this as the perfect time to purchase their first home. With less demand, prices have plateaued a little, although landlords are still seeing returns of around 5% on properties purchased last year or more on those bought in previous years.
The Autumn market seems to be heading in a slightly different direction this year. Whereas in previous years, demand for larger family houses was at its highest in July and August , this year activity seems to be concentrated around the lower end of the market with one and two bedroom flats seeing the most interest from the young professionals market.
Crouch End typically attracts a varied demographic but is generally favoured by young professionals and families who enjoy how green and leafy the surrounding area is. In addition, a thriving village-like high street, good transport links to the city, quality housing stock and very good primary schools are key motivators behind why many move here. The majority of homes here are converted Victorian houses which offer beautiful, period garden flats. Typically, prices range from around £400 per week for a two bedroom garden flat to £800 per week for a family house. We’ve also noticed interest in surrounding areas like Stroud Green which are also improving and becoming increasingly sought after.
The Broadway forms the heart of the area and offers a good selection of independent shops, restaurants and cafes. Improvements are on-going and include a full refurbishment of the Park Road swimming pool and Lido along with a Curzon art house cinema which is due to open very shortly. Primary schools here are very highly regarded and being able to live within the sough-after school catchments areas often commands a hefty premium. Family homes near to Coleridge Primary, Rokesley Primary and the newly relocated Ashmount Primary tend to achieve in the region of 10 -15% more than those which aren’t and as such tend not to stay on the market for long.