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Hackney – What to look for in houses for sale?

by | Nov 15, 2022

Home $ House for sale in the UK $ Hackney – What to look for in houses for sale?

Whenever looking for a house for sale in the UK or in Hackney, it is vital you look at the market trends and house price fluctuations in the wider area of London too. House prices of houses for sale can change even among different streets very close to each other so, as a landlord, it would be a good idea to be familiar with the area of Hackney.

In this article, we will be looking at the city of Hackney in detail so you know how to navigate the area and have a better understanding on where to invest.

What kind of demographics does the city of Hackney have?

What is the population of Hackney?

Population growth in Hackney is important to know if there is housing demand and the total population may also be looked at as large populations commonly have a lot of buyer demand.

In Hackney, 130,428 people live in the city as their main place of residence.

It is important to note that it is not the case that everyone likes a large population to live in. People who tend to prefer a more relaxed life are more likely to buy or rent somewhere to live that has a small population and perhaps also wouldn’t mind if the population isn’t growing.

Other people also like to have a mix of both. Where they can visit rural areas and also benefit from the amenities of a busy city.

In Hackney in the previous five years, have population numbers transformed?

Five years may seem like a long time but it is rare for a city to grow that much unless there is dramatic population growth. In Hackney, this change has been 3%. Read more here

Someone who wishes to find out how this change has occurred over a longer period of time may also wish to read the headings below and see if the change has continued throughout the past decade too. Or if the change is only true for the more recent figure for five years of 3%. Click here to know more on the UK population trends.

Over the last decade, how has the population differed in Hackney?

Populations change all the time but if there is a clear change in population in the last ten years this is even more reliable data about the population of the area as opposed to five. This adjustment in population works out to be 13% in Hackney.

What this statistic is like in comparison to the population change in five years should provide you with a comprehensive understanding of what direction the population is heading in.

In recent years because of the pandemic, it is common to see dramatic differences in the population change in the last five years when comparing it to ten as people realise they can work from home but still keep the current jobs they have.

This means they can move to cities they wouldn’t have considered otherwise and be location-independent of their source of income. Perhaps making a longer commute into the office every week for example.

How much do people in Hackney earn?

You may be wondering what the amount people earn has to do with house price. Well, house prices generally go up as people earn more not just because they can afford more valuable properties but also because good areas generally attract more desirable infrastructure. For reference, the average household income is £45,767.

This may be better schools, doctors and areas with lower crime rates. This results in a snowball effect which polarises different areas further, increasing the demand for housing in richer areas by a greater amount. And increasing the proportion of people with high social grade scores. For Hackney this figure is 19%.

What is the social grade score of Hackney?

The social grade score is a good indicator of what type of jobs people generally work in the area. Whether that be working in the primary sector, secondary sector, tertiary sector or maybe the quaternary sector of jobs.

The scale is slightly different to this though on a scale of A to E. A refers to people who are in the most skilled, managerial roles whereas E include people such as casual workers.

In Hackney, the percentage of people in the two highest categories, A and B is 19%. This figure includes people who are therefore most likely to be more skilled and have higher paid jobs.

When contrasting these figures, the average household income for the area is £45,767. This income will generally get bigger as the percentage of people in the A and B categories go up too (19%).

In Hackney, how educated are people in general?

Interestingly, the percentage of people who have a degree in the city of Hackney is 41%. Most of the time, the more people that have a degree, the higher the average household income and the more likely someone is to be able to afford to purchase a house. For example, the average income of the citizens in the area of Hackney is £45,767.

Generally, areas with high numbers of people with a degree are also areas with more people likely to be home owners and therefore the value of houses and relative prices of the houses for sale are more likely to go up too.

Nonetheless, making predictions about the appreciation of a house also has to be considered alongside other factors like population growth and the rental yields of the area.

However, most of the time, being educated is a good indication of affluence with 82% of people graded a first in tertiary education going on to eventually own a house.

In the city of Hackney, how much green space remains for residents?

In the city of Hackney, there are 9.6 acres of green space per 1000 residents.

The charity, ‘Fields in Trusts’ recommends a minimum of 6 acres of green space per 1000 people so it is easy to see where Hackney is when seeing if green space availability is sufficient. This green space could be parks, nature reserves, public gardens or playing fields.

In general, do people commit a lot of crime in Hackney?

For every one thousand people living in Hackney, 166 commits crimes and are prosecuted. Coming to a conclusion as to whether all the other factors of your house purchase like the house price justify this figure when contrasting it with the UK average of 79.52 is something you should do as a homeowner.

It could be that the crime rate is higher than you expected but there it is worth the population growth, appreciation of the house and worth the relative price you are purchasing the house for.

Nonetheless, the crime rate of 166 is not a statistic that should just be ignored as you could have to pay more for things like home insurance and install additional security on your house if the rate is particularly high.

Either way, burglaries are not something you would want to encounter in a house. Whether that be a house you are living in or a house you are renting out to tenants.

How deprived is the population of Hackney?

The deprivation levels of the UK can vary quite a bit. High deprivation levels signal a particular area has people who are struggling to make ends meet and pay for basic living expenses. For Hackney, in particular, the deprivation levels are 31%.

This figure can be contrasted with the deprivation levels of the UK of 33% to see if the levels are below or above average.

The city of Hackney, situated in London, is a particularly impressive part of the UK because of the specific demographics of the location.

In the below headings, the city of Hackney and its demographics will be compared to its wider location (Greater London). This includes population size, growth and population education now and into the future.

These statistics are heavily influenced by socio-economic factors and as a result this also shapes the projected house price of the houses for sale in Hackney. So, taking a good look at the data is essential to understand the area you are considering to buy in.

In general, for the city of Hackney, what are the final purchase prices for the houses for sale?

There are a lot of factors that impact the final sale price a house for sale sells for in the UK and in Hackney. In Hackney, this sale price works out to be £531,062. As an example, a factor like population growth over the last 10 years which works out to be 13% in Hackney and impacts house prices of the houses for sale.

Housing category Total final sale price
Average sold price (detached) no relevant data for this city
Average sold price (semi-detached) £763,253
Average sold price (terraced) £819,953
Average sold price (flat) £427,326

Above, the exact type of house is also shown to vary in price in a table in Hackney. You may think that the bigger the house is the more expensive, but actually, this table is more based on the demand for the properties in each category.

Housing category Sale price per square foot
Average sold price/sqft £6,827
Average sold price/sqft (new build) £7,123
Average sold price/sqft (old stock) £6,677

In addition, here is the price per square foot. By taking this data and doing an average, it is also possible to work out the average square foot of houses in Hackney which is £7,000. From here you can get a sense of the price of the overall housing market and therefore, also find out the prices of the houses for sale.

What are the asking prices for the houses for sale in the city of Hackney?

Before a house gets sold, the figure it sells for always starts off as an asking price. This average asking price for the houses for sale in Hackney determines the eventual sale price of the house so it isn’t the most important figure but is still important to take note of. This figure is currently £514,701.

Below, there is a table showing the asking price of the different sizes of houses based on the number of bedrooms of the houses in Hackney.

Average price of houses for sale in Hackney

Average asking price (1 bed) £374,608
Average asking price (2 bed) £493,807
Average asking price (3 bed) £675,547
Average asking price (4 bed) £1,089,311
Average asking price (5 bed) no relevant data for this city

Based on this table, hopefully, you will be able to tell what type of house for sale is the most suitable for your budget. You can also consider the average asking price per square foot (£7,170) for houses for sale with this table to get a good idea as to whether Hackney is the right area to buy a house in for you.

Why you should consider the average rental yield when searching for houses for sale in Hackney

Are there more or fewer houses being built in Hackney?

Before making an investment and move forward with buying a house for sale, another important set of data an investor should analyse is the growth trends of the area in question.

Below are the forecasted growth rates for the city of Hackney at 1 year, 3 year and 5 year intervals:

1 year 3 years 5 years
Hackney growth rate 3% 12% 21%

Examine this figure carefully as the addition of a lot of new houses to meet demand could mean that house price of the houses for sale in Hackney gradually reduces with an increase in the housing supply. This could be a good indicator to understand if your house will appreciate or not. Too many houses and too much supply could drive down the prices of homes or stagnate them. So be sure to check out what is exactly happening in Hackney.

You may have heard of rental yield as being important for investors who wish to make a sizable profit on their rental properties. If this sounds like you and you’re looking to invest in a house currently for sale and collect rental income in Hackney this statistic is what you were looking for.

Data should also be compared to the broader region of the UK (Greater London) alongside London then looked at with other statistics like the area’s rent and the turnover of sale of the houses in question. It could be that an investor prefers to make a profit on the sale of a house rather than the rental income and optimal properties for this investment varies throughout Hackney.

This decision is made differently depending on the investor’s tolerance for risk, investing strategy, the location they’re investing in and their overall goal for buying a house currently listed for sale.

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
Hackney 4.4% £1,910 140% 8.7%
London 3.96% £2,001 129.93% 12.05%
Greater London 3.88% £1,899 129.14% 13.30%

As you observe table above, it could be valuable to contrast these figures with other pieces of data relevant to the process of buying like the crime rate or the appreciation of houses for sale in Hackney.

As you can tell, the best conclusions are drawn when the buyer of a house for sale looks at all the data involved holistically and doesn’t make quick decisions based on one or two pieces of data. As an example, comparing the data with the number of property sold per month (38) will be useful.

Advice from experts on properties for sale in Hackney

House for sale in the same UK region

Examine this short list of cities belonging to Greater London, the same region where Hackney is located.

If none of these is of your interest, we suggest you visit our landing page with all data related to the houses for sale in the UK.

Invest in a house for sale that meets your demands

Criterias that have an impact on the actual price of a house for sale have been listed here below. Consider them all to find the perfect houses for sale in Hackney.

  • Affordability – check this article from the UK government to find out (see what house for sale you can afford)
  • Location – if the house for sale is in the city centre rather than further out, this may be why it is more expensive than the market average.
  • Transports near the house for sale – Being able to use public transports is a huge plus for a house, especially in big cities. This will have an impact on the price as well.
  • Bedrooms – the more bedrooms there are in a house for sale, the more tenants a buy to let investors will be able to host, therefore, realistically the price will also increase.
  • EPC of the house for sale – today more than ever, the energy performance of properties for sale on the market should be one of the first things you check.
  • Wi-Fi speed – We recommend you check the internet plans available for the areas where you are considering to buy a house for sale
  • Are you a motorist? – If yes, filter out your searches and compare prices of houses for sale with parking availability. Remember, a car parking space can cost as much as £400 per month
  • Conditions of the house for sale – New builds and properties that were recently built usually need little to no repairs; instead, other houses for sale may require consistent or structural maintenance. These investments that can be both expensive and laborious to complete. Before making your offer for a house for sale you should always carefully assess this criteria.

In today’s market with an abundance of homes available for sale, choosing the best house for sale can be challenging.
With several houses for sale to choose from, who will guide you through the process of choosing?
We have listed here below several experts and companies able to advise and support potential buyers.

The process of finding and investing in a house for sale can be lengthy and time-consuming, this is why we suggest you consult with the following professionals:

  • Banks – Lend you the cash
  • Insurance companies – Insure your new real estate investment
  • Conveyancer – handles all the legal labour that is needed to proceed in buying a house for sale.
  • Surveyor – Carries out an independent and complete property valuation of the house for sale
  • Mortgage advisor – If you are thinking to get a mortgage to get the finances needed to afford to buy a house for sale, a mortgage advisor is the person you should be looking for
  • EPC person – Always get a quote on the Energy Performance Certificate of the houses for sale listed in a certain city

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