New Build Investor Guide – Hackney, London

Apr 2021

Buying a new build property off plan? Check out our Area Guide first

Are you considering purchasing a new build, off plan property in Brent? Want to get the latest information on house prices, demographics and other useful information before you commit to a deal?

Our Area Guides give you the latest relevant information from local governments, the Census and the Office of National Statistics (ONS) data. They’re designed for offshore, new build property investors to help you understand an area in detail so you can make informed investment decisions.

Read on for investor details specifically about Brent but if it’s more detail about the wider UK property market you need, you can download our latest report here. In our report we address two key questions:

1 Is investing in UK residential property still worth it?
2 If so, where are the best opportunities for property investors and why?

Hackney, London

Hackney is one of 13 inner London boroughs and is located in East London.  Spanning over 7 square miles Hackney is bounded by Islington to the west, Haringey to the north, Waltham Forest to the north-east, Newham to the east, Tower Hamlets to the south-east and the City of London to the south-west. Hackney was one of the host boroughs of the London Olympics in 2012, with several of the Queen Elizabeth Olympic Park venues falling within its boundaries. The many districts of the Borough of Hackney include Shoreditch, Hoxton, Dalston, Stoke Newington and London Fields.

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Demographics

Hackney’s population is forecast to grow by 6.3% by 2030

Population (2018) 281,740
Forecast Population 2030 300,157

Source: data.london.gov.uk


Economically Active Population

A largely young, diverse, mobile population.

Age Range Percentage of population
16 – 64 72%
Under 15 21%
Over 65 7%
Martial Status:  
Single 58%

Source: data.london.gov.uk


Average Life Expectancy

The average life expectancy for those born in Hackney between 2016 and 2018 is the second longest in London for both males and females.

Males 80
Females 84

Source: ons.gov.uk


Population Density (2011)

Hackney is the 3rdmost densely populated local authority in London, with 14,758 people per km2.

Source: ons.gov.uk

International Migration (2018-19)

5,152 new residents from overseas, the 17th highest of all 32 London boroughs.

Source: ons.gov.uk

Country of Birth

Location of Birth Proportion of Population
UK and Ireland 63%
EU 9%
Other countries 28%

Source: data.london.gov.uk


Crime & Safety

Crime Numbers (April 2017 – March 2018)   31,005
Crime rate per 1,000 population (April 2017 -March 2018) 110
Hackney has the 10th highest crime rate per 1,000 people of all London borough’s  

Source: data.london.gov.uk

Education

Schools

Primary Schools 91 (23 of which have an Ofsted rating of outstanding)
Secondary Schools      43 (5 of which have an Ofsted rating of outstanding)
Schools and Colleges (16-18 years) 23 (4 of which have an Ofsted rating of outstanding)

Source: compare-school-performance.service.gov.uk

Universities

Hospitals

General Wellbeing

Population considering themselves in very good health 52%
Population considering themselves in very bad health 2%

Source: data.london.gov.uk


Employment & Economy

73% of working aged people employed (compared to 75% across England 74% across London).

Top 4 Sectors of Employment

Finance, banking and insurance 35%
Public administration, education and health       25%
Transport and communication 13%
Distribution, hotels and restaurants 12%

Source: data.london.gov.uk


Major Employers

In 2020, there were over 45 companies the borough employing more than 250 people and 255 companies employing between 50 and 249 people. (source: nomisweb.co.uk)


Jobs and Job density

Approximately 25,643  residents of Hackney also work in the borough. 48,551 people travel into the borough each day for work and 53,525 residents work outside the borough. The daytime population of borough therefore decreases by 17,622 people each day. (source: data.london.gov.uk).

Median Gross Annual Pay for full-time employee jobs (2017) £31,365
Number of jobs in the borough (2019)            92,000
Jobs per resident        0.49 (London average 1.03 and UK average 0.87)

Source: nomisweb.co.uk and data.london.gov.uk


Housing

Number of residential properties in Hackney 112,370

Source: data.london.gov.uk


Property Ownership (2018)

own property outright (no mortgage) 11%
own property with mortgage 20%
rent from a Housing Authority or the Local Authority 44%
rent from a private landlord (representing approximately 33,300 private rentals) 26%

Source: data.london.gov.uk

Household with no car or van (2011) 65%

Source: nomisweb.co.uk


Household Composition

One person households    35%
One family households     46%
Other  (sharers / students etc)   15%

Source: nomisweb.co.uk


Average House Prices

House prices in Hackney are the 8th most expensive of the 13 Inner London boroughs, and 8th most expensive of all 33 London boroughs.

Average achieved price January 2020 £555,746
Average achieved price January 2021 £599,090
Increase/Decrease  +12.5%

Source: www.gov.uk


Volume of Sales

During the COVID pandemic, the number of property transactions fell by 17%. The 24th largest decline of all 33 London boroughs.

Number of residential sales to year ending September 2019 2,103
Number of residential sales to year ending September 2020    1,751

Source: ons.gov.uk


Achieved Rents (January to December 2020)

Mean monthly average rents in the borough:

  London Median Rents
(per calendar month)
Hackney
(per calendar month)
Studio     £950 £1,000
1 bedroom £1,200 £1,400
2 bedrooms £1,450 £1,725
3 bedrooms £1,750 £2,301

Source: london.gov.uk


New Build Developments in Hackney

Several notable developments in Hackney are currently on the market, many of which have been launched in Asia and the Middle East.

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Principal Tower (Concord London)

Total Number of Apartments 355 (299 private)
First Launched September 2014

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Average Prices – Principal Tower

  Minimum Average Maximum
Price £859,000 £1,714,384 £5,750,000
Price per ft² £740 £1,824 £2,764
Area (ft²) 453 928 2,179

source: Molior

  Minimum Average Maximum
1 Bedroom £869,000 £1,129,366 £869,000
2 Bedroom £1,147,000 £1,792,950 £1,147,000
3 Bedroom £1,078,000 £3,174,394 £1,078,000

source: Molior


The Stage (Galliard)

Total Number of Apartments 412
First Launched March 2016

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Average Prices – The Stage

  Minimum Average Maximum
Price £650,000 £1,272,125 £2,750,000
Price per ft² £1,251 £1,619 £2,083
Area (ft²) 416 791 1,677

source: Molior

  Minimum Average Maximum
Studio £650,000 £751,450 £875,000
1 Bedroom £799,000 £971,478 £1,370,000
2 Bedroom £1,200,000 £1,525,000 £2,410,000
3 Bedroom £2,365,000 £2,433,636 £2,570,000

source: Molior


Atlas (Rocket)

Total Number of Apartments 302
First Launched April 2015

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Average Prices – Atlas

  Minimum Average Maximum
Price £628,000 £1,229,918 £3,167,000
Price per ft² £1,114 £1,475 £1,974
Area (ft²) 400 811 1,604

source: Molior

  Minimum Average Maximum
Studio £628,000 £628,000 £628,000
1 Bedroom £698,000 £801,444 £920,000
2 Bedroom £936,000 £1,235,000 £1,992,000
3 Bedroom £1,806,000 £2,282,800 £3,167,000

source: Molior


One Crown Place (Alloy)

Total Number of Apartments 246
First Launched February 2017

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Average Prices – Crown Place

  Minimum Average Maximum
Price £735,000 £1,308,375 £7,35,000
Price per ft² £1,221 £1,533 £1,221
Area (ft²) 523 822 523

Source: Molior

  Minimum Average Maximum
1 Bedroom £735,000 £931,444 £1,180,000
2 Bedroom £1,195,000 £1,405,998 £1,750,000
3 Bedroom £2,495,000 £2,679,158 £2,829,950

source: Molior


The Makers (Londnewcastle)

Total Number of Apartments 175
First Launched January 2018

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  Minimum Average Maximum
Price £595,000 £1,174,000 £2,800,000
Price per ft² £937 £1,246 £1,535
Area (ft²) 425 932 1,858

Source: Molior

  Minimum Average Maximum
Studio £595,000 £595,000 £595,000
1 Bedroom £595,000 £740,231 £800,000
2 Bedroom £1,053,000 £1,249,462 £2,800,000
3 Bedroom £1,325,000 £1,901,000 £2,829,950

source: Molior


Environment & Leisure

The London Borough of Hackney has a host of attractions and leisure facilities including:

  • Hackney Empire
  • Arcola Theatre
  • Sutton House 
  • Woodberry Wetlands
  • Geffrye Museum 

Transport

Hackney underground and overground stations are in Zones 1, 2 and 3.

Overground Stations

Clapton Dalston Junction
Dalston Kingsland Hackney Central
Hackney Downs Hackney Wick
Haggerton Homerton
Hoxton London Fields
Rectory Road Stamford Hill
Stocke Newington  

Underground Stations

Manor House (Piccadilly Line)

Local Government

The Labour Party

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