Continued investment & regeneration mean house prices keep on rising
Hackney borough’s population in June 2013 was 257,379. Despite being the third most densely populated borough in London, it is also inner London’s greenest borough. There are 62 parks and open spaces, covering 815 acres with seven parks achieving Green Flag status.
In the coming years, there will be vast rail improvements along the West Anglia Rail Corridor, linking Hackney to Liverpool Street and Chingford, Cheshunt and Broxbourne, creating more capacity and an additional station at Lea Bridge in 2015. There will also be improved links to Crossrail stations and additional road capacity at key points to support population growth.
Most of this will take place along the upgraded North London branch of the Overground line running from Dalston to Hackney Wick where it will centre on the former Olympic Park, and the East London line, south of Dalston towards Shoreditch.
Significant Housing growth is also expected in the North East of the borough, centred around the regeneration of the Woodberry Down estate. Hackney is the 7th most expensive London borough, but house prices are still increasing at a faster rate than the London average, despite the growth in new housing. With great employment levels and new housing to accommodate the borough’s increasing population, now is the perfect time for property investment. That means Hackney property investment is ideal for you if you’re looking for a London regeneration area for your portfolio.
Economy & Employment
With over 1000 creative tech businesses Hackney is home to London’s biggest concentration of start-ups.
57% of Hackney’s jobs are in managerial, professional and technical jobs, which is 13.5% above the UK average. 30% of people who work in Hackney are employed in public administration, education and health. 37% are employed in creative, technology, financial and business services and 18% work in high street businesses including restaurants, bars and retail and personal services.
In parallel, over the same time period, hospitality and retail firms have grown by 41% and 15% respectively, as Hackney grows as a destination for entertainment, leisure and a networking spot for knowledge businesses, adding another string to its bow.
In 2011 Hackney was home to 9,465 firms. Light industries located around the River Lea employ over 3,000 people and some were used for the 2012 Olympics.
Between 2010 and 2013 over 340 London tech companies attracted investment of over £1.47bn
Hackney was the centre of London’s textiles industry in the 19th Century. Hackney Fashion Hub plans to recapture this spirit and capitalise on the fashionable edge of the area by providing retail and studio space. The £10 million redevelopments will deliver hundreds of new jobs, apprenticeships and training when it opens in Morning Lane as well as a Stitching Academy to support textile production for start-up designers and makers.
East London’s Tech City has been driving inward investment since 2011. Property experts Knight Frank estimate that over £28 billion has been invested in commercial property in the Tech City area. Nearly 16,000 new homes are expected to be built in the borough in the next 10 years. Development will be most heavily concentrated around Manor House and Dalston, Hoxton and Shoreditch, Hackney Central Hackney Wick.
Overground: Services have improved significantly recently with the opening of the London Overground network that links Dalston Junction to Highbury and Islington south London, Stratford and Richmond.
Underground: The only underground station in the borough is Manor house, however, Old Street is only a few metres over the border in Islington.
There are many buses to surrounding areas including several 24-hour services and night buses to central locations. All of London’s major airports are easily accessible, with London Stansted and London City airports the quickest & closest.
Hackney has 86 primary, 42 secondary, 14 independent schools.
The City Academy is a unique school for 11-18 year-olds which promotes independent thinking through creative and engaging learning experiences. It has been recognised as a centre of excellence in every respect; in terms of examination success, sporting achievement creative opportunities.
In 2002, the borough entered into a ten-year contract with the Learning Trust, an independent body that organises education for Hackney’s 27,000 pupils in schools, nurseries and play centres. Two of London’s most successful city academies are in Hackney with another two in development.
Shops & Leisure
Shopping: Thriving local high streets with well-established chains ranging from Marks & Spencer to Primark, and JD Sports and American Apparel and quality outlet stores for big names like Burberry. BOXPARK Shoreditch is a pop-up mall that uses refitted shipping containers to create a unique shopping experience where you can discover up-and-coming designers, artisan food and drink, as well as vintage clothing and furniture.
Leisure: Facilities are rife for the sporty in the borough and London’s first Tudor theatres were built at Shoreditch. The Gunpowder Plot was first exposed nearby in Hoxton too.
Green Space: The borough contains 25 conservation areas including Clapton Square and urban open-spaces including Clapton Common and Clissold Park.