The Borough of Hackney has the honour of being the greenest area in London. It was granted this title as a result of the multitudes of open spaces in the area, the quality of the air, and the commitment to recycling and protecting the environment.
The open spaces in the area, including the 340 acres of the protected Hackney Marshes, prove to be very attractive to all kinds of residents, from families to people who work in built up central areas. The latter can commute easily to these destinations thanks to the fantastic transport links. It is believed that an incredible 90% of residents in the Borough are within close proximity to open public spaces.
The green nature of the Borough has helped to stimulate demand in the area, leading to impressive rises in house prices and rental values. It has also helped to create a vibrant atmosphere, attracting all manner of independent cafes, bars and shops.
The value of going green and protecting open spaces is reflected in the growth in property prices in the area. In the last two decades the average price of a home has risen to £629,821. This represents an astonishing 749% increase. The performance outstrips many other areas, including prime locations where the average price is substantially higher.
Homes in Hackney have proved to be a fantastic investment for those two decades and continue to perform really well. Property owners can choose a variety of options to make a return on their money, including letting the property to tenants. There is no shortage of these as a result of the easy commutes and attractive rates.
One option that property owners can choose is council leasing in Hackney. This offers a number of opportunities including a guarantee on income and easier access to tenants. At Finefair we can offer all kinds of information about this opportunity and have a great relationship with the local council that our clients can take advantage of.