As a landlord, whenever you are looking at houses for sale in London, you could find varying prices throughout an area like Hackney. In this article, this data will be simplified so you can find all of the data on one, convenient page.
So, from the rental yield of Hackney to the success you may expect to get when submitting planning permission. Everything you need to know about house for sale in the UK and in Hackney will be revealed. Keep reading.
In Hackney, what do houses for sale tend to sell for?
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.
In Hackney, what is the asking price in general for a house for sale?
The average asking price for the houses for sale in the city of 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.
When speaking about the city of Hackney, £514,701 is the asking price for a house for sale.
We have compiled a table of data so you can know the asking prices of the specific size of home you’re most interested in. As you can imagine, a family looking to move out with children in Hackney would be after a larger house than someone living alone.
The data is in fact very different compared to the number of rooms you’re interested in having in your home and the asking price also tends to go up in staggering amounts as you add rooms.
Finding the ideal house for sale for you
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.
Who can help you buy a house for sale in Hackney?
Who should you talk to while going through the process of making an offer on a house for sale?
Several experts specialise in giving advice to property investors or to first time potential buyers.
Since the process of finding the right house for sale can take months, you have all the time to consult with the experts you might need.
Find here a list of those you should contact to get professional guidance and assistance when purchasing a house for sale:
- Lender – This practitioner can lend you money to finalise a house purchase
- Insurer – Insuring companies will provide you with the insurance policy you need to protect the house for sale you want to buy
- Legal representative – This professional is usually there to handle all the legal tasks associated with purchasing a home for sale.
- Surveyor – Carries out and independent valuation on the house for sale based on its conditions. It is very useful to understand the correct price before making an offer
- Mortgage specialist – Mortgage advisors works on commissions. They will get a cut from the bank and will guide you with offering the best deals given your financial situation
- Energy assessor – We strongly suggest you to invest in a professional assessment of the Energy Performance of the house for sale you want to purchase
Other cities in different locations you can consider to buy property
We have prepared a list of cities that are entirely dissimilar to the region of Greater London, perfect if you are looking for somewhere similar to Hackney but want to relocate to a different region entirely. You should then be able to evaluate the different houses for sale listed in the region:
- anerley in Greater London
- bwlch-y-sarnau in Greater London
- ammanford in Greater London
- alltwen in Greater London
- hollinswood in Greater London
Alternatively, you can visit our webpage dedicated to houses for sale in the UK for a broader understanding, houses for sale in the UK.
What are the people like in Hackney?
How much do people in Hackney earn?
By and large, a higher household income in a population can have positive effects on the crime rate and the quality of space. This is due to the fact that higher earners tend to buy houses where there are better schools and more desirable amenities that impact the quality of life someone has.
In Hackney, the average income is £45,766.67. Measuring this figure against the average household income for the UK of price34,000 should tell you if the city is higher or lower earning.
When buying a house, use this statistic with other factors when making a decision too like the crime rate or the social grade score of 19% to decide on what the demographics are like in the area.
What’s a social grade score and how does it relate to Hackney?
Most of the time, the social grade score of a city is what it takes to determine what the economic levels are like as this score refers to what type of jobs the people of the area generally work as. So, from highly skilled, managerial roles, to the manual labour workers of the UK, how does Hackney compare?
At the highest end of the scale (A) jobs that are managerial administrative or professional are all lumped into this category. On the other hand, there is the lowest grade (E) where workers who are on benefits, state pensions or work casual jobs fall into.
In Hackney, the percentage of people who work in the two highest skilled categories of this scale (A and B) is 19%.
So you can compare this data, here is the estimated grouping of the social grades of the UK for the general population. Adding the two highest categories of A and B and comparing this percentage to the high social grade score which combines A and B should give you a good comparison.
|Social Score||Category||The proportion of the UK population (%)|
|A||Professional, managerial or administrative||4|
|B||Intermediate managerial or professional jobs||23|
|C1||Supervisory, junior managerial or professional jobs||29|
|C2||Skilled manual workers||21|
|D||Semi and unskilled manual workers||15|
|E||State pensioners, casual & lowest grade workers||8|
What’s the crime rate in Hackney?
Within Hackney, the number of people committing crimes is 16600% per 1000 people. This figure directly relates to the safety of residents in the area which is one of the biggest factors in whether an area is considered desirable or not.
As a result, someone looking to buy a house here hoping for it to appreciate in value or buying a house here to produce rental income should check out the crime rate and compare it carefully to the UK average of 79.52 for every 1000 people to see how safe people living there will be.
If the area’s crime rate is too high, this may result in you having to pay for the renovation of burglaries or pay a premium on home insurance as insurance companies will charge you more for living in a dangerous area. So analyse this 16600% figure carefully.
What is the education level like in Hackney?
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 £45,766.67.
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.
Are the deprivation levels of the UK any different to Hackney?
Deprivation levels refer to the ability of the population of the city to earn enough to keep their lifestyle going. Nationwide, it is thought that the number of people at this level or not being able to meet the costs of living is around 33%. In comparison, the deprivation level of Hackney is £0.
What does the population of Hackney look like?
In total, the number of people in Hackney is 130428. This figure can be used to estimate the appreciation of the houses but it is also important you look at the population growth figure in order to make this more accurate.
Whether a large population benefits you as a landlord is dependent on what you want from a home. A large population is great if you have children who prefer the bustle of crowds in cities but there are also those who purposely want to buy somewhere rural.
You may also be able to find a balance of both where there are shops, restaurants and entertainment and also rural areas all within a short distance which may be the case ni Hackney, depending on where exactly you are.
How has Hackney changed in the past five years?
Five years provides enough time for a city to grow dramatically. It may be the case that the population grows or shrinks but the city of Hackney has changed by 3%. Read more here
It is also helpful to compare this data to a longer time period like 10 years like in the below subheading. If the population trend of growth or decline has been there for a longer period of time you’ll be able to tell if 3% is a recent change or not.
Click here to know more on the UK population trends.
In the last decade, what is the difference in population in Hackney?
13% has been the population growth change in the past 10 years.
Usually, this is more of a conservative figure compared to the five year change of a city.
Industrial changes can also be the reason for this shift but it could also be due to immigration or emigration. Bringing people in or out of the area.
The recent global pandemic has also shifted the number of people living in cities as people realise they can now work remotely. It may be that the people of a Hackney have seen a more desirable way of working, moving to make themselves more comfortable in their careers.
For example, the population of the South west of England has seen a massive increase in population because workers want to move there to benefit from the slightly better weather, lower house prices and also the rural area. Nonetheless, they can also benefit from travelling to the capital city of the UK, London.
Hackney in the county of London is notable for its specific demographics and has individual characteristics.
For localised cities and the bigger areas of the UK there are wide variations in the demographics that shape an area so the same is also true for the wider region Hackney is located in; Greater London.
Below, these demographics are talked about in headings that explain how the city has grown, what the education levels are like in Hackney, what the social grade score of the city is like and if the green space matches the recommended levels people living in the UK should have.
How much green space is available to residents of Hackney?
Providing the right amount of green space for people in the UK is a difficult subject because there are clear benefits for human health but at the same time, it is hard to make sure all areas of the UK can get enough greenery. This is a result of land being already in use in cities where most people live.
In Hackney, 10 is the amount of acres of outdoor space there is for every 1000 people. Charities such as ‘Fields in Trust’ recommend there to be at least 6 acres. This should allow you to conclude whether this green space is sufficient for you if you are interested in buying in Hackney.
Why you should consider the average rental yield when searching for houses for sale in Hackney
In Hackney, how has the number of houses changed?
Whenever you are thinking about looking for houses for sale in Hackney, think about how the city is growing and how this may impact the overall growth of the area.
Comparing the growth at different time periods would be a great way to assess whether the growth has slowed down, remained the same or perhaps stagnated over the years.
|1 year||3 years||5 years|
|Hackney growth rate||3%||12%||21%|
As the population of Hackney grows, this may also push up the price of the houses for sale. More people would be looking to buy homes and permanently live in the area. This demand helps a home appreciate. However, this isn’t always true because some cities build a lot of houses too to match the supply.
Most of the time, high deprivation levels signal that people cannot afford to sustain their living expenses. In Hackney, currently, £0 people fall into this category.
Measuring this statistic against the nationwide average of 33% should give you a pretty good idea of where the city lies in the scale of poverty in the area and how much you can charge for rent in your ast (assured tenancy shorthold).
Frequently Asked Questions (FAQ)
Is it possible to renovate a property in Hackney?
If planning permissions are abundant in the vicinity of Hackney, it may look promising for landlords looking to renovate. With 19 getting approved on a monthly basis, and a success rate of nan, these prospects flourish against a population of 130428. A comparative analysis against other locations across the UK will lend you a good perspective of this data.
What’s the number of property sales each month in Hackney?
The city of Hackney sees around 21 property transactions every month, while the nationwide figure for the whole of the United Kingdom stands at roughly 1.1 million property sales.
How does the population in a city like Hackney change annually?
To assess the shifts in Hackney’s population over time, analyse how the population has altered. Look at the ten year change of population of 13%, alongside the five-year change of 3%.
How much are houses for sale priced at in the extended region of Hackney?
The average cost per square foot for a house in Hackney is presently £7,170.
Is a house for sale in Hackney an expensive choice?
Ascertain the costliness of a property by examining a listed house for sale in relation to the prevailing average selling prices. In Hackney, this stands at £531,062, whereas the UK’s mean is £286,500.