Clapton and Hackney are both at the heart of East London’s trendy residential district. Countless cafes, bars, restaurants and shops have sprung up in the area, enticing young professionals to put down roots.
We take a closer look at the area known as ‘Clackney’ and get the inside scoop on what it’s like to live there from the local Stirling Ackroyd team.
The local area
Thanks to investment over the last decade or so, Clapton and Hackney have become highly desirable places to live – particularly with young professionals. Almost two-thirds of the rental population (63% of tenants) are aged between 18-29. The community has a creative village-like feel and is known for its vibrant eateries, shops and markets.
Hackney’s famous Broadway Market lives up to its slogan of ‘quality, speciality, variety’ with a colourful display of goods on sale. The market stretches down to London Fields, a popular outdoor space complete with a 50m heated lido, BMX track, tennis courts and children’s play areas. Nearby Clapton ranks particularly highly with outdoor pursuits, boasting an ice rink, horse riding centre and rowing club.
Schools in both areas rank well, with plenty of primary and secondary schools rated ‘outstanding’ by OFSTED, including London Fields Primary School, Clapton Girls’ Academy and Hackney New Primary School.
Residents rely on the area’s varied transport links. Hackney itself is served by three London Overground lines, which run to nearby areas such as Dalston and Stoke Newington. London Liverpool Street is 15 minutes away from Samford Hill Station. Clapton is similarly serviced by the London Overground, with Liverpool Street just 12 minutes away. There are several local bus routes connecting to the surrounding areas and Central London.
Although ‘Clackney’ is well-served by train and bus routes, locals love to get around by bike – more people cycle to work from Hackney than any other London borough. The transport links mean fewer residents need to own a car – just 13% of people have a vehicle, compared to 30% in Greater London. Locals mostly travel using the local bus links (28%), with train being the next most popular option (18%), followed by bicycle (16%).
Local development and population profile
The local population increased by 22% in the 10 years between 2001 and 2011. Thanks to the 2012 Olympic Games, development in East London has been booming in recent years, with flats the most popular choice in the area. Overall, flats made-up 77% of all property transactions over the past 12 months in the area. Looking at recent development activity, 2017/18 saw 650 new build properties built in Hackney alone. In February, the average price of a new build flat in Hackney was £524,991, and £464,674 in Clapton.
Most people living in the area are aged 30-44 (28%), which demonstrates the area’s popularity with young families taking their second step up the housing ladder. One person households are also popular, making up 36% of people in the area.
“There is a real sense of community and area is filled with attractive Victoria townhouses and smaller estates, providing outdoor space for couples and families. Although Clapton also offers some stunning Georgian houses in Sutton Place and Clapton Square.” said Simon Hart, Senior Sales Manager at Stirling Ackroyd, Hackney.
The sales market
Simon Hart said: “Property transactions in the area have remained fairly stable, despite the political uncertainty we’ve seen during the last couple of years. Over the last 12 months, there have been 911 sales in Hackney and Clapton – 18% down on the previous 12-month period. The average sales price in the area was £524,982.”
Interestingly, when looking at different types of property, buyers can get more for their money by comparing both areas. In February 2019, the average price of a terraced house in Hackney comes in at £919,141, vs a lower price of £833,263 in Clapton. Flats sold for around £450,702 in Hackney, compared to a higher price of £483,817 in Clapton.
The rental market
Samuel Prats, Lettings Manager at Stirling Ackroyd, Hackney said: “Clackney has a very healthy rental market. Over the last 12 months, the average rent achieved for properties in the area was £1,577 per month. The majority (84%) of these were flats. This property type achieves an average rental value of £1,576 per month, which is a little over the average price for flats in Greater London (£1,472).”
When looking at the profile of tenants in Hackney and Clapton, 63% of all tenants are 18-29, followed by those aged 30-39 at 32%. Rental properties were the least popular choice for the older generation, with just 4.6% of people aged 50+ renting.
Living in Hackney and Clapton
If you’re looking for some advice about renting, buying or selling property in Hackney or Clapton, contact our expert lettings and sales teams at the Stirling Ackroyd Hackney branch today by calling 020 3961 7806 or email us today.
Want to know more about the sales and lettings market trends, view our monthly rental and house price index today:
*All data provided by Data Loft, May 2019.