Smart Investors Eye Hackney Property
May 09, 2011 (PRLEAP.COM) Business NewsAs the Olympics draw closer, Hackney property, and the surrounding properties may see an increase in value due to the regeneration that the Olympics may bring to the wider region.
The area has excellent transport links to the city and is predicted to gain from the regeneration spearheaded by the 2012 London Olympics. Over £6 billion has been invested in London for regeneration and building, with a further £7 billion invested in transport. The team at Stirling Ackroyd's Hackney office gave their response to the figures:
"We've been Hackney Estate Agents from the very earliest days of its regeneration. So we have witnessed its complete transformation into what is now an extremely sought after area. You only have to look at the pricing to see this effect. Historically, we also know that the Olympic Games have the potential to have a ripple effect on neighbouring areas due to the regeneration of housing and amenities.".
The Council of Mortgage Lenders released figures to the media this month demonstrating mortgage lending rose by 24% in March compared to February. Overall, this represents a 3% increase on the previous year's lending. There have been corresponding reports of a resurgence in interested buyers in this area of London property. The National Association of Estate Agents released statistics showing the number of people registered to seek a property with their members had risen by 7% last month. Stirling Ackroyd's Hackney office anticipates continued interest and welcomed the news of greater access to mortgages. Their staff point to accelerated regeneration due to the Olympics as one of the factors currently attracting buyers:
"The earlier completion of the East London line underground station due to the games completes the picture for us. Hackney is a fantastic place to live and work. It has an exceptional number of green spaces and parks yet it's extremely convenient for the city. It already had a tremendous number of overground stations and very frequent bus services. For example, a typical bus journey to Liverpool Street takes around twenty minutes. Now it has its own tube we are expecting to see an ongoing positive effect on pricing."
Stirling Ackroyd's Hackney property for sale and for rent can be viewed online, with energy performance certificates and comprehensive floorplans at www.stirlingackroyd.com.
Their Hackney team can also be contacted for a local, expert view on any aspect of property on 020 7749 3807.