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princeperch
Certainly, I know a few people who've bought houses in Harringay by selling the flat they bought 10-15 years ago in Archway, Highgate, Crouch End or similar. That seems a pretty common route.
If you want to buy a good sized (for London) house in an area where you can get into central London or the City in under 30 minutes but still has a local organic store and coffeeshops then the options are limited if you've "only" got a million.