In the last ten years, tenants in commuter towns around London have witnessed a serious increase in the price of rents. Since 2008 the cost of renting a typical two bedroom home in one of East London’s boroughs – Hackney – has increased by nearly two thirds to £1,755 per month. Hackney has become one of the best places to live in London, making it a popular, high priced area with both rents and houses prices soaring. Other commuter belts just outside London such as Dartford and Hemel Hempstead have also seen particularly large rises in rents.
London Boroughs dominated the Rightmove list of places with the fastest growing rents. Just behind Hackney , Hammersmith & Walthamstow saw a 59 per cent increase in property rents . Renters looking to see their money go further should consider places like Burnley, Barnsley or South Shields, where they could rent around four two-bedroom homes for the price of one in Hackney.
Hackney’s Attractiveness to London Tenants
Hackney’s appeal has enhanced over the past few years due to its status as a hipster hotspot. The once cheap location is now seeing a higher demand for property as a result of the 2012 Olympics effect and improvements to transport links. There are two London underground stations and three London overground stations serving Hackney giving locals easy accessibility to London city.
Rent property in Hackney, East London
Our team of letting agents at Henry Wiltshire Bow are experts in renting property, ensuring satisfactory outcomes for landlords and tenants alike. To rent property in the Hackney or other London Borough areas, contact us today.