The Hackney property market is benefitting from the transformation of the local area, thanks mainly to the London 2012 Olympic Games, which has led to mass improvements to the local area including many new and improved new build homes.
London 2012, which has been billed as the regeneration Games, aims to transform the lives of people residing in east London, including people who own homes in Hackney.
A number of new home developers have moved into the Hackney property market to build more new homes, in order to service ever growing demand for residential properties in the area.
Despite recent property price rises, property values in some parts of the Hackney area remain among the most affordable in London, which appeals to many homebuyers, particularly first-time buyers seeking to get a foot onto the housing ladder.
Many new homes in Hackney also appeal to first-time buyers because they fall under the stamp duty threshold of £250,000 - a saving of up to £250,000 (one per cent of the purchase price).
There has been a recent jump in the volume of homes coming onto the market in the area, up 17.5 per cent in the past month, with more homeowners seeking to cash in on rising property prices, encouraged by the abolishment of HIPs (Home Information Packs) and the improvements being made to the local area, including the relaunch of the East London Overground line.
Nevertheless, there still remains a shortage of new build homes in Hackney, suggesting that there is plenty more room for capital growth, which is likely to fuel demand even further.
New Build Homes in Hackney
Berkeley Homes is currently building 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.
Vision Homes has launched a Hackney property development called Paradise Park - a riverside scheme featuring a selection of exclusive 1, 2 & 3 bedroom homes in Hackney, 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. Prices start from £189,950.
Taylor Wimpey is building Amhurst Corner, a high-end new build home scheme featuring spacious 1, 2, 3 and 4 bedroom flats close to Stoke Newington. Prices cost upwards of £199,950.