The Demographics of Harrow’s Population
Harrow, located in northwest London, has a rich history dating back to the Bronze Age. The name “Harrow” is thought to have come from the Old English word “hearg” meaning temple, indicating that the area may have been of religious significance in ancient times. The town has grown to become a diverse and vibrant community with a mix of cultures, history and beautiful parks. Harrow is a great place to live, work and play, and it is increasingly becoming a popular destination for those looking to invest in buy-to-let properties.
Population and Size
When considering investing in a buy-to-let property in Harrow, it is important to understand the population size and growth of the area. Harrow has a population of approximately 250,000, which is larger than the average London borough. The population has been steadily increasing over the years, and it is expected to continue growing in the future. This population growth is driven by a combination of factors, including an increase in the number of people moving to London, as well as the development of new housing in the area.
Age of the Population
One key factor to consider when investing in a buy-to-let property in Harrow is the age of the population. Harrow has a relatively young population compared to the average in the UK, with a significant proportion of residents aged between 20 and 39 years old. This is great news for investors as this age group tends to be more likely to rent properties.
Employment Rate
Another important factor to consider is the employment rate of the population of Harrow. The employment rate in Harrow is higher than the average in the UK, which is a positive indication of the economic stability of the area. This means that the demand for rental properties is likely to be high, as people will be looking for places to live close to their workplaces.
Education Level
The education level of the population of Harrow is also worth considering when investing in a buy-to-let property. Harrow has a relatively high proportion of residents with a degree or higher education qualification, compared to the average in the UK. There are also a significant number of students in Harrow, with a University campus located in the area. This could be a great opportunity for investors looking to rent out properties to students.
Renters vs Homeowners
When it comes to the volume of renters versus homeowners in Harrow, it is worth noting that the percentage of renters is higher than the average in the UK. This is great news for investors as it indicates that there is a high demand for rental properties in the area.
Crime Rate
Finally, it is important to consider the crime rate in Harrow when investing in a buy-to-let property. The crime rate in Harrow is lower than the average in the UK, which is reassuring for investors and renters alike.
In conclusion, Harrow is a great place to invest in a buy-to-let property, with a growing population, a young age demographic and high employment rate. The area also has a large number of students, high proportion of renters and lower crime rate. These factors suggest that the demand for rental properties will be strong, making Harrow a solid investment opportunity. However, it is always important to conduct thorough research and due diligence before making any investment decisions.
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