Stoke Newington in the London Borough of Hackney has seen a huge change-around in fortunes since the turn of the Millennium. The area was once an undesirable location because of its poor transport links and location. The gentrification of the Borough and people searching for value for money brought big change though.
Nowadays the area has a reputation for attracting creative people, young professionals and families looking to move up the property ladder. In fact the average age in the Borough is just 33.
The lack of transport links still holds the areas back, even with improvements in an overhaul of the East London Line. Not surprisingly a lot of people in the area choose to cycle. Fortunately the neighbouring areas provide a lot of jobs, particularly in the creative sector.
Clissold Park is a major attraction for people in the area. It covers an impressive 55 acres and is home to deer. This means people looking for wide open spaces and a chance to see some wildlife are well catered for. Additionally there are sporting facilities and lakes to enjoy.
The changing opinions towards the area are reflected in the growth in house prices. In 2000 the average price was £164,000, a very modest number for London. Nowadays this has risen to £630,000. Since 2007 properties have enjoyed a huge 93% gain.
The popularity of the area continues and there are plans in place to build new homes. Woodberry Down alone will create 4,600 homes over the next 20 years, potentially drawing even more people to Hackney.
At Finefair we offer an array of services to landlords in the Borough of Hackney, including property management. The popularity of the area and rising prices makes homes here a great investment. If you are looking to do just that you can rely on us for all of your searching and management needs.
Stoke Newington and Hackney in general are home to a wide array of properties. With our help you can find the right one in the perfect area. You can also ensure you enjoy a good monthly income for as long as you choose to let the property.