According to new research from Halifax, Hackney has seen the largest increase in price per square metre over the last twenty years. In 1997 the average was £814 sq/m. At that time the figure for the whole of Britain was £672.
By 2017 Hackney had seen the average price per sq/m rise to an incredible £6,942. This translates to a monumental 753% increase. Again comparing with the national figure puts the value into perspective. In the whole of Britain the average is £2,260, enjoying a rise of 236%. The gap has widened substantially.
London has the most valuable land prices in the whole of the UK but Hackney is still leagues ahead in terms of growth. In 2017 the average increase in price by sq/m was 402% in the capital. Although this is a massive increase in value it is still almost half of Hackney’s values.
Those people who invested at the right time will have enjoyed fantastic returns on properties in Hackney. Surprisingly there are still returns to be gained, particularly with demand remaining high due to the popularity of the area. Although there are some areas offering more potential for higher returns, when it comes to property investment Hackney has proven time and again to be a popular bet.
At Finefair we understand that price per square metre can be a useful measure of property values. It makes it easier to compare properties of different sizes and varying locations. As a result it can assist people in making the right investments.
If you own an investment property in Hackney you should ensure it is properly managed to retain its value. The Finefair team can take care of that for you, using our extensive experience to deliver the highest standards. We are equipped to manage various types of property and can tailor each and every service to suit different needs.
To find out more about how we can help you please get in touch. If you already own properties in Hackney and would like our assistance with portfolio services we can cater for you.