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/ by In house team

Younger buyers attracted by new homes and regeneration in Hackney

The London Borough of Hackney is renowned for its eclectic architecture and cultural influence among trendy circles. Steadily increasing in popularity, Hackney is known to attract residents looking for a centralised location, without the high price tag, and with the new regeneration scheme underway, property prices are set to rise further.

Prices have increased considerably in Hackney in the last year, with the Land Registry reporting that the average property has increased in value by 10% and now costs £440,250, a figure which is higher than the Londonwide average of £375,800. Prices in Hackney are steadily rising with many buyers from neighbouring Islington keen to invest here as the area offers a little more for their money.

Hackney has seen enormous growth over the last few years - new improvements, good schooling and great transport links to the City and central London are attracting many to the area which is increasingly becoming known for its fashiobable appeal among a younger audience. As a result, we've seen a spike in interest from wealthier buyers and tenants. Hackney offers an eclectic range of architecture which appeals to many, including Victorian terraces, lofts and warehouse conversions, as well as a variety of upcoming developments which will offer modern, new build homes which require little maintenance. Current improvements to the area and a large scale regeneration plan are attracting a younger crowd, with the likes of Burberry and Aquascutum having already established themselves in the area and drawing other high street brands in the next few months.

With Liverpool Street and the City a mere 10 minutes away by train, Hackney is becoming popular among professionals and those in the banking sector, while the appeal of green spaces such as Victoria Park, Mabley Green and Hackney Marsh is proving popular among families. Hackney offers a good selection of facilities and a number of Ofsted approved schools and nurseries, with a larger selection of secondary academies than any other part of London. Hackney also houses one of the country’s best 6th form colleges, BSix Brooke House College on Upper Clapton Road.

2011 census figures revealed that the population in Hackney has grown by 20% over the last ten years, with the private rented sector having increased by 13% over the same time. This certainly indicates the growing popularity of the area and improved demographic and over the next ten years, we'll likely see larger rises in those figures.


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In house team London Property Market

As the marketing and communications team at Kinleigh Folkard & Hayward's head office, our aim is to keep you updated and informed where the London property market is concerned. In addition, we'll bring you tips on navigating current issues and trends in the market when buying, selling, letting and renting to ensure that whatever field you're interested in, you'll be completely informed.

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