New Build Investor Guide – Harrow
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Are you considering purchasing a new build, off plan property in Brent? Want to get the latest information on house prices, demographics and other useful information before you commit to a deal?
Our Area Guides give you the latest relevant information from local governments, the Census and the Office of National Statistics (ONS) data. They’re designed for offshore, new build property investors to help you understand an area in detail so you can make informed investment decisions.
Read on for investor details specifically about Brent but if it’s more detail about the wider UK property market you need, you can download our latest report here. In our report we address two key questions:
1 Is investing in UK residential property still worth it?
2 If so, where are the best opportunities for property investors and why?
Harrow, London
Harrow is one of 20 outer London boroughs and is located in north west London. Spanning over 19 square miles, it is the 12th largest London borough by area. Harrow is a largely suburban borough with some countryside to far northern edges. It borders the county of Hertfordshire and the London boroughs Hillingdon, Ealing and Brent. It includes the main towns, Harrow, Pinner and Stanmore. Harrow is perhaps best known for it’s famous school, Harrow School, attended by seven former British prime ministers.
Demographics
Harrow’s population is forecast to grow by just over 7% by 2030
| Population (2018) | 255,369 |
| Forecast Population 2030 | 273,953 |
Source: data.london.gov.uk
Economically Active Population
A largely young, diverse, mobile population.
| Age Range | Percentage of population |
| 16 – 64 | 64% |
| Under 15 | 21% |
| Over 65 | 15% |
| Martial Status: | |
| Single | 32% |
Source: data.london.gov.uk
Average Life Expectancy
The average life expectancies for those born in Harrow between 2016 and 2018 are below.
| Males | 83 (UK average is 79). Males born in Harrow have the 3rd longest life expectancy of all London boroughs. |
| Females | 86 (UK average is 83). Females born in Harrow have the 5th longest life expectancy of all London boroughs. |
Source: ons.gov.uk
Population Density (2011)
Harrow has 4,977 people per km2. Lower than the London average of 5,701 people per km2 and the 13th lowest density of all London boroughs.
Source: ons.gov.uk
International Migration (2018-19)
4,345 new residents from overseas moved to Harrow in 2018 -2019. Twenty London borough’s welcomed more new residents from overseas than Harrow.
Source: ons.gov.uk
Country of Birth
| Location of Birth | Proportion of Population |
| UK and Ireland | 57% |
| EU | 7% |
| Other countries | 35% |
Source: data.london.gov.uk
Crime & Safety
| Crime Numbers (April 2017 – March 2018) | 13,670 |
| Crime rate per 1,000 population (April 2017 -March 2018) | 55 |
| Harrow has the lowest crime rate per 1,000 people of all London boroughs. |
Source: data.london.gov.uk
Education
Schools
| Primary Schools | 60 (22 of which have an Ofsted rating of outstanding) |
| Secondary Schools | 25 (10 of which have an Ofsted rating of outstanding) |
| Schools and Colleges (16-18 years) | 23 (9 of which have an Ofsted rating of outstanding) |
Source: compare-school-performance.service.gov.uk
Universities
University of Westminster Harrow Campus
Hospitals
BMI The Clementine Churchill Hospital
Royal National Orthopaedic Hospital
General Wellbeing
| Population considering themselves in very good health | 48% |
| Population considering themselves in very bad health | 1% |
Source: data.london.gov.uk
Employment & Economy
79% of working aged people employed (compared to 75% across England 74% across London).
Top 4 Sectors of Employment
| Finance, banking and insurance | 24% |
| Public administration, education and health | 22% |
| Distribution, hotels and restaurants | 20% |
| Construction | 11% |
Source: data.london.gov.uk
Major Employers
In 2020, there were 20 companies in the borough employing more than 250 people and 115 companies employing between 50 and 249 people. (source: nomisweb.co.uk).
Jobs and Job density
Aproximately 37,328 residents of Harrow also work in the borough. 30,119 people travel into the borough each day for work and 60,410 residents work outside the borough. The daytime population of the borough therefore decreases by 30,291 people each day. (source: data.london.gov.uk).
| Median Gross Annual Pay for full-time employee jobs (2017) | £31,365 |
| Number of jobs in the borough (2019) | 92,000 |
| Jobs per resident | 0.49 (London average 1.03 and UK average 0.87) |
Source: nomisweb.co.uk and data.london.gov.uk
Housing
| Number of residential properties in Harrow | 90,530 |
Source: data.london.gov.uk
Property Ownership (2018)
| own property outright (no mortgage) | 31% |
| own property with mortgage | 30% |
| rent from a Housing Authority or the Local Authority | 8% |
| rent from a private landlord (representing approximately 27,600 private rentals) | 31% |
Source: data.london.gov.uk
| Household with no car or van (2011) | 24% |
Source: nomisweb.co.uk
Household Composition
| One person households | 23% |
| One family households | 62% |
| Other (sharers / students etc) | 15% |
Source: nomisweb.co.uk
Average House Prices
Average house prices in Harrow are the fourteenth cheapest of the 32 London boroughs and prices rose by over 6% between January 2020 and January 2021.
| Average achieved price January 2020 | £447,369 |
| Average achieved price January 2021 | £475,996 |
| Increase/Decrease | +6.4% |
Source: www.gov.uk
Volume of Sales
During the COVID pandemic, the number of property transactions in the borough of Harrow fell by 32%. Only three other London boroughs saw larger falls in transaction volumes.
| Number of residential sales to year ending September 2019 | 2,273 |
| Number of residential sales to year ending September 2020 | 1,544 |
Source: ons.gov.uk
Achieved Rents (January to December 2020)
Mean monthly average rents in the London Borough of Harrow:
| London Median Rents (per calendar month) |
Harrow (per calendar month) |
|
| Studio | £950 | £850 |
| 1 bedroom | £1,200 | £1,075 |
| 2 bedrooms | £1,450 | £1,325 |
| 3 bedrooms | £1,750 | £1,650 |
Source: london.gov.uk
New Build Developments in Harrow
There eight large new build developments in Harrow with apartments currently available for sale. Average asking prices for three of these developments are set out below.
Echo 1 (Hill)
| Total Number of Apartments | 204 (123 private) |
| First launched | June 2020 |
Average Prices – Echo 1
| Minimum | Average | Maximum | |
| Price | £285,000 | £460,423 | £562,500 |
| Price per ft² | £577 | £639 | £754 |
| Area (ft²) | 395 | 725 | 833 |
source: Molior
| Minimum | Average | Maximum | |
| Studio | £285,000 | £291,500 | £298,000 |
| 1 Bedroom | £347,500 | £390,000 | £417,500 |
| 2 Bedroom | £470,000 | £509,294 | £562,500 |
source: Molior
Eastman Village – Harrow View East – (Barratt)
| Total Number of Apartments | 460 (274 private) |
| First Launched | February 2019 |
Average Prices – Eastman Village – Harrow View East
| Minimum | Average | Maximum | |
| Price | £309,000 | £419,032 | £650,000 |
| Price per ft² | £444 | £577 | £672 |
| Area (ft²) | 525 | 737 | 1,464 |
source: Molior
| Minimum | Average | Maximum | |
| 1 Bedroom | £309,000 | £337,095 | £355,000 |
| 2 Bedroom | £399,999 | £431,750 | £466,000 |
| 3 Bedroom | £520,000 | £554,375 | £599,000 |
source: Molior
Taona House (Elysian)
| Total Number of properties | 70 |
| First Launched | November 2017 |
Average Price – Taona House
| Minimum | Average | Maximum | |
| Price | £490,000 | £847,571 | £1,320,000 |
| Price per ft² | £659 | £789 | £932 |
| Area (ft²) | 642 | 1,074 | 1,559 |
source: Molior
| Minimum | Average | Maximum | |
| 1 Bedroom | £490,000 | £505,000 | £520,000 |
| 2 Bedroom | £690,000 | £984,600 | £695,000 |
source: Molior
Environment & Leisure
Harrow has more than 20 parks and, five have been awarded ‘Green Flag’ status – a national award that recognises the best green and open spaces in the country.
6 leisure and sports centres
Facilities to hire including:
Football pitches
Cricket pitches
Rugby pitches
Tennis Courts
Bowling Greens
Pavilions
6 libraries
Transport
Harrow’s overground and underground stations are in Zones 4 and 5.
Overground Stations
| Harrow & Wealdstone | Harrow-on-the-hill |
| Hatch End | Headstone Lane |
| Sudbury Hill Harrow |
Underground Stations
| Cannons Park (Jubilee line) | Harrow-on-the-Hill (Metropolitan line) |
| North Harrow (Metropolitan line) | Pinner (Metropolitan line) |
| Rayners Lane ((Metropolitan and Piccadilly lines) | South Harrow (Piccadilly line) |
| Stanmore (Jubilee line) | Sudbury Hill (Piccadilly line) |
| West Harrow (Metropolitan line) |
Local Government
The Labour Party
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