Hackney has been revealed as one of two areas in the UK where the average house prices have more than doubled within the last ten years.
My London reports that the capital leads the UK, with nine out of ten areas for house price growth over the last decade, and while the property market might have not been as favourable in London during the pandemic, it seems property there is still highly sought after.
An analysis of figures from the Office for National Statistics (ONS) by A-Plan Insurance has revealed that Hackney has seen a 105 per cent increase in property prices from between 2011 and 2021.
The borough has experienced the second biggest rise in the country, proceeded only by Waltham Forest where house prices increased by 126 per cent over the past 10 years, a 55 per cent increase.
Barking and Dagenham has also seen prices rise by 96 per cent, to an average of £317,000, with Lewisham and Haringey making up the top five.
In 2011, the average house price in Hackney was £294,000, but ten years later it is now around £604,000.
Nine out of the 10 highest average house price increases were in London boroughs, with only Bristol being the only non-London borough to make the top ten, with an 87 per cent increase.
Aberdeen is the only UK area where prices have fallen over the same period.
The study compared more than 400 areas in the UK which saw an increase of 54.7 per cent.
The UK average house price was more than £166,000 in 2011 and now costs over £256,000 in 2021.
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