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We are pleased to share that east London's hipster heartland of Hackney has been revealed as London's most in-demand borough for buyers searching for a home.
Islington, Southwark, Lambeth, and Haringey are also among London's top five boroughs with the most sought after property.
New data from Rightmove, which tracks the number of enquiries sent to local estate agents per property, reveals the hottest property markets across the capital.
Prior to the slump of Brexit, house prices in Hackney rose more than in any other local authority in the UK since 1998, surging by a staggering 568 per cent over 20 years. The average asking price of a home currently stands at £626,095 following an annual drop of 4.9 per cent in the year to May.
The rising prices in nearby Islington and the surrounding areas were the main factor why the borough’s popularity over the past decade started, the buyers were priced out and naturally began to migrate east. As a result, the new bars and restaurants started opening, and on top of everything the area was close to the city. When the East London Line opened up, it made it really rapid to get to Liverpool Street and the West End.
The area attracts those working in the City and young families, propelled by the fact it has “everything on the doorstep”.
There were lots of areas of Hackney where there were hardly any shops or bars, but now there are little pockets all around the borough that has made it more accessible as a whole.
With its desirable Georgian and early Victorian houses and leafy streets, homes in Islington command premium prices.
The area, which has an average asking price of £770,123, is one where families tend to settle for the long-term, though new developments along the Regent's Canal will open the area up to younger buyers with deep pockets and downsizers.
The borough of Southwark, which stretches all the way from Camberwell and Peckham to Borough and the South Bank has an average asking price of £634.232.
Properties from period homes to new builds and social housing can be found throughout this borough, depending on where you look.
It's also one of south London's better connected boroughs with the Northern, Bakerloo, Jubilee and East London lines passing through it.
Young professionals and couples are moving to trendy Peckham, while those seeking glamorous apartments and want to be able to walk to work or to London's landmarks look for properties close to Bankside.
In Lambeth, London's fourth most in-demand borough, average asking prices are now £632,590, while in Haringey, number five on the list, the average cost of a home now stands at £602,170.
Miss. Claire White
W. Why Media
E. claire@whymedia.com