New Build Investor Guide – Hackney, London
Apr 2021
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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.
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.
Principal Tower (Concord London)
| Total Number of Apartments | 355 (299 private) |
| First Launched | September 2014 |
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 |
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 |
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 |
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 |
| 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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