This document is a Hanover Red residential investment quick report. The purpose of a quick report is to give an insight into the possibility of investing in residential property in the area of Tottenham. The information you will read within this report is factual, and has been collated from statistical records from a number of different professional sources. For more information about investing in residential property in Tottenham, or a full copy of Hanover Red’s Tottenham Residential Investment Report, please contact the Hanover Red Investment Team. TOTTENHAM

Rental Demand Drivers In the third quarter of 2007, gross mortgage lending at loan to values of more than 90% equalled £14.6 billion, in the third quarter of 2011 it was just one twentieth of that figure. (FSA) The average deposit for a first time buyer in the UK currently stands at £26,000 up from £12,000 five years earlier. In London that average rises to some £64,000, with 71% of first time buyers requiring assistance from the bank of mum and dad to finance their purchase. (CML) At the end of January 2012 the average discounted interest rate for a 90% LTV mortgage stood at 5.3%, compared to 3.2% for a 75% LTV product – an increased cost of some 65%. (Bank of England) The profile of renters will change, with more affluent sections of society being forced or choosing to rent. Increased demand for private rented accommodation will include family housing. Hackney’s rental price, yield & demand TOTTENAM’S RENTAL PRICE, YIELD & DEMAND Beds Purchase priceRent pcm Gross yield 1230, , , ,

TOTTENAM’S PROPERTY PURCHASE DEMAND Tottenham still remains an affordable part of London for many, when compared to neighbouring areas like Stoke Newington, Stamford Hill, Crouch End and Islington. As well as the regeneration scheme put in place by Haringey Council, Hanover Red strongly feels that over the next two years property prices in Tottenham will increase rapidly – it’s already happening and recent property sales data supports this. As can be seen in the chart to the right, Haringey’s property values have kept in touch with the rest of London. At the end of 2013 the average price in Haringey was around £13,000 more.

Growth In February 2012, Haringey Council’s Planning Committee unanimously approved Tottenham Hotspur Football Club’s plans to invest £430million in a new stadium led development scheme in Northumberland Park. This facility will bring in over a million visitors a year to the area and is the first phase of ambitious plans to transform Northumberland Park into a leisure destination for north London, creating thousands of new jobs and homes. With a population of over 90,000, making up around 40% of Haringey’s total, Tottenham has high public land ownership and low land values. London set for decade of buy-to-let growth By Tanya Powley. The Financial Times. March 2012 Property in London and the south-east will continue to produce the highest total returns over the next ten years for buy-to-let investors. Seven London boroughs will deliver net total annual returns of more than 8.5 per cent in the next decade. CAPITAL GROWTH

Haringey Council are transforming Tottenham., By 2025, there will be: Up to 10,000 new high quality homes Over 5,000 new jobs created or accessed with almost A million square feet of employment and commercial space added A new leisure destination in Northumberland Park, serviced by a new White Hart Lane station and Improved public realm that enhances the local high street and becomes a genuine year round destination A new civic hub and excellent open space at Tottenham Green A new gateway to Seven Sisters A revamped station at Tottenham Hale, suitable for an international transport and growth hub A downloadable copy of the regeneration plan for Tottenham can be found when visiting the following link: Regeneration plan REGENERATION

London click here to return to commentary London Boroughs Price in 2012 Q1 % change over 10 yearsAnnual % change last quarterAnnual % change this quarter Barking and Dagenham£188,18654%5%3% Barnet£351,75374%8%7% Bexley£231,87364%2%5% Brent£349,41885%-1% Bromley£265,06160%0%1% Camden£573,581108%4%5% Croydon£237,24150%2%4% Ealing£349,85069%7%9% Enfield£284,07660%3%6% Greenwich£284,55077%14%11% Hackney£424,968113%11%12% Hammersmith and Fulham£528,40779%12%7% Haringey£371,99072%3%5% Harrow£300,88158%9%6% Havering£220,25058%1%2% Hillingdon£280,73256%3%4% Hounslow£322,06068%8%10% Islington£514,93899%15%11% Kingston upon Thames£345,99073%5% Lambeth£357,92177%5%6% Lewisham£288,42679%9% Merton£338,92871%5%9% Newham£234,00969%-3%-1% Redbridge£274,37967%6%4% Richmond upon Thames£407,99972%3%2% Southwark£370,20176%3%4% Sutton£252,39550%2%1% Tower Hamlets£419,74084%-2%2% Waltham Forest£255,52261%2%4% Wandsworth£453,52676%3%9% Westminster£666,55390%12%11% House Price Index for the Last 10 Years HOUSE PRICE INDEX