Hackney has transformed beyond recognition in the last decade. In 2007 it had a bad reputation and was avoided by the majority of investors. This left prices affordable, lagging behind the London average. The affordability attracted a huge number of artists and other creative types looking for cheap homes and studio spaces in the late 80s, throughout the 90s, and following the turn of the Millennium. This influx was the catalyst for the big change.
As the art scene got more and more established the area began to change, growing to be one of the centres for contemporary art in the capital. This caught the attention of other buyers and investors, resulting in rising prices. In 2017 the average price is almost double what it was in 2007 and is now ahead of the average for London.
One of the biggest selling points of Hackney today, alongside the art scene of course, is the number of different neighbourhoods. Victoria Park in the south of the Borough is a leafy urban village that has larger Victorian townhouses. Dalston was formerly a country village but has become an area loved by foodies. Hoxton was one of the focal points of the artistic scene, starting its transformation in the late 80s. It is now a firm favourite for investors.
Numerous developers were attracted to Hackney due to the rising demand and prices. They set about building new homes, many of which replaced maligned properties that were run down and poorly managed. These new homes added a different dimension to the area, attracting buyers who wanted modern properties.
At Finefair we have a lot of experience with investing in Hackney. We have supported plenty of buyers in the process and gone on to offer professional management solutions they can rely on. Our focus is on delivering the very best standards every single time.
As a leading name for property management Hackney investors can trust, we are happy to answer any questions you may have. Simply get in touch and we will provide information for you.