New data has placed Hackney among the top ten most expensive boroughs in which to buy a property, City AM reported.
The news provider cited figures from Nationwide, which revealed that Kensington and Chelsea was named as the least affordable part of the capital in which to buy a home, followed by Westminster, Camden and Islington.
However, Hackney also made it into the top ten, alongside Haringey, Hammersmith and Fulham, Brent, Wandsworth, Barnet and Newham. While this may make it challenging to get your foot on the property ladder in these areas, it could be good news if you are looking to sell a property in one of these parts of the city.
It appears that it isn’t only the capital where house prices have been climbing despite the pandemic. The BBC recently reported that average property prices in the UK increased by 8.5 per cent in 2020, making that the highest annual growth recorded since 2014.
The Office for National Statistics (ONS), which compiled the data, said that the stamp duty holiday that is currently due to run to 31 March 2021 has contributed to the sharp spike in prices.
However, the ONS data also showed that London had the most modest property price increases of any part of the country. Values in the capital only climbed by 3.5 per cent in 2020, while the north-west of England, which had the highest growth, saw values spike by 11.5 per cent.
If you’re thinking of putting your home in Hackney on the market and are looking for estate agents in Hackney central, get in touch with us today to find out how we can help.