Hackney Property Market: High Demand for Homes in Hackney The Hackney property market is reaping the benefits from the progress made on the London 2012 Olympic Games' legacy over the past year. Whether it is house hunting for a house or flat in Hackney, homebuyer demand for Hackney homes is at an historic high. London 2012, which has been billed as the regeneration Games, is having an enormously positive impact on the Hackney property market, with the area being transformed dramatically. Since it was awarded the Olympics five years ago, various promises have been made about how the Games will transform the lives of east Londoners, and those who own homes in Hackney and its surrounding areas. Many new home developers have moved into the Hackney property market in order to build more new and improved homes in Hackney, with housing output reflecting the fact that most homebuyers want to buy a flat in Hackney – largely due to price constraints.
Hackney homes have appreciated at a rapid pace in the past 18 months. Across Hackney, property prices have improved. Yet, prime Hackney property prices remain among the cheapest in London, which appeals to many homebuyers, particularly firsttime buyers seeking to get a foot onto the housing ladder. Hackney homes, mainly flats, appeal to firsttime buyers, because many Hackney properties fall under the stamp duty threshold of £250,000 – a saving of up to £2,500 (one per cent of the purchase price). In fact, Hackney is the cheapest borough for prime real estate in London, suggesting plenty of room for growth. In recent weeks more Hackney property owners have rushed to join the market (17.5 per cent more Hackney homes on the market in the past month) in an attempt to cash in on further anticipated price rises in the Hackney homes market following the relaunch of the East London Overground line, among other improvements in the area. Nevertheless, there is still an imbalance between the supply and demand of homes in Hackney, as far as both houses and flats in Hackney are concerned. Consequently, more new home developers have started construction work on a number of new homes in Hackney in response to an increase in Hackney property sales enquiries.
Hackney Homes on the Market
Berkeley Homes has started building work on Woodberry Park City Waterside. The first block to be released on this waterside development provides a mix of 1, 2 and 3 bedroom hackney flats and penthouses, with prices starting from £239,950. Part of one of the largest regeneration projects in the UK, each new Hackney flat, certainly as far as this Hackney property development is concerned, has been carefully considered to ensure that each benefits from their own outside space along with a high specification throughout. Circle Anglia has launched a selection of two bedroom homes in Hackney on Kenninghall Road. Each Hackney flat has been redecorated throughout. They are conveniently located for Rectory Road and Clapton Rail Stations. Local amenities are just a short walk way. Each Hackney flat offers spacious living quarters. These Hackney properties are on the market for £250,000. Elsewhere, Vision Homes has launched a Hackney property development called Paradise Park – a riverside scheme featuring a selection of exclusive 1, 2 & 3 bedroom Hackney homes, located near Clapton station. The scheme also consists of additional social housing, around 10,000 square feet of office buildings and an underground car park. These stylish Hackney flats are surrounded by parkland and run alongside the River Lea, making them ideal for a wide range of people seeking to buy a home in Hackney. These Hackney properties start from £189,950. Meanwhile, Taylor Wimpey is building Amhurst Corner, one of the finest Hackney property developments of spacious 1, 2, 3 and 4 bedroom flats Hackney has to offer and close to Stoke Newington. These Hackney homes have a superb specification including a builtin single oven, hob and cooker hood, plus a freestanding fridge/freezer, white downlighters to specific rooms, gas heating and heated chrome towel rails. Prices in this striking development start from £199,950. With a wide range of homes in Hackney to choose from, house hunting in the Hackney property market is not for the fainthearted.
- Author Calvin Jesse View Source: Paradise Park – New Homes Development – Homes Hackney