Recent research from Halifax shows an average 402% rise in house values per square metre across London since 1997, while the rest of the country has seen an average increase of 236% over the same twenty-year period. However, people who own property in Hackney will benefit from the biggest increase in value, with properties in the borough worth, on average, 753% of their value since 1997.
The Halifax annual price index is one of the most reliable sources of house price statistics, with data going back to 1983. The house price data examines prices per square metre of space, as opposed to average property prices. This levels the playing field and enables analysts and investors to compare like with like.
Why live in Hackney?
Our estate agents at Henry Wiltshire’s Bow office, are not surprised at Hackney’s phenomenal price growth. “Interest in Hackney has been growing steadily since 2000, but not at the expense of the area’s character,” she explains. “Historic buildings outline some of London’s hippest markets, and whether you’re into cocktails, yoga, shopping or art, there’s always something to get stuck into. Hackney is one of the best places to live in London – quirky, independent and eternally cool, I think this area will continue to attract buyers and tenants alike.”
The London Borough of Hackney includes Hackney itself, as well as the fashionable East London districts of Shoreditch, Dalston and Hoxton. Hackney has some of London coolest bars and eateries, including Jamie Oliver’s charitable-institution-cum-restaurant, Fifteen, which provides training for disadvantaged people while also turning out great meals!
Getting to work from Hackney
Because it borders the City of London, people working in the UK’s key financial district have an easy commute, while Docklands is located just to the east of the borough. Though connected to Central London by the overground and many bus services, Hackney is also something of a cycling hub, with more people cycling in Hackney than in any other borough. This is thanks to thoughtful street design and safe bike storage facilities, as well as the positive attitude to living well that you’ll see throughout the area.
Buying and renting property in Hackney
Over the past twenty years, Hackney has become one of the hippest areas of London, an identity that looks like it’s here to stay. House and flat owners can take advantage of the area’s price growth – simply contact the team at Henry Wiltshire’s Bow office today for a free valuation.