Local Weather

Partly Cloudy

Partly Cloudy

max temp: 13°C

min temp: 7°C

Five-day forecast

Garage in Hackney up for sale at nearly £360,000

Thye garage for sale at a mere £360,000 in Stoke Newington Thye garage for sale at a mere £360,000 in Stoke Newington

Tuesday, September 2, 2014
10:58 AM

Soaring property prices in Hackney have been thrust back in to the spotlight this week with news of a Stoke Newington garage on sale for £359,950.

To send a link to this page to a friend, you must be logged in.

The 640sqft single-storey building in Springdale Mews is being marketed by family-run estate agents Courtney’s, in Kingsland Road, for potential re-development.

It describes it as a “well located, quiet property” and, based on other former-garage conversions along the road, suggests it could be turned into a two storey, three bedroom house.

But the offer has angered housing campaigners Digs, which has slated landlords and property developers for “destroying people’s chances of renting or buying homes.”

Myth

According to Land Registry figures, property prices in Hackney have escalated by more than 600 per cent since 1995, with serious implications for affordable housing in the borough.

Digs representative, Heather Kennedy said: “Hackney has seen some of the most astoundingly unaffordable house price increases in London. People are fast abandoning the myth that these house prices are good for their communities or good for their families.”

She added: “How much worse does the housing crisis need to get before ministers accept the market has spectacularly failed in providing suitable housing and urgent action is needed to bring down house prices and rents?”

News of the garage sale also comes as figures reveal almost £3.5 million has been raised in just three months between April and June by selling off 30 Hackney Council homes under the Right to Buy (RTB) scheme, and an estimated £8.6million over the last year.

Councillor Phillip Glanville, cabinet member for housing said: “Hackney, like other parts of the capital is the midst of a housing crisis. It is estimated that 809,000 additional homes will be needed across London by 2021.

“Our programme to regenerate Hackney’s ageing housing estates, is providing more than 2,770 homes for social renting, shared ownership and private sale, with the latter helping fund the redevelopment.”

A spokesman for Courtney’s said: “We have had quite a bit of interest in the property; many people now want to put their own stamp on their homes or create a working and living space.”

He added that the agency is selling ready made three-bedroom properties in the same location for prices varying from £500,000 to £850,000.

Responsibility for getting planning permission to convert the garage into a home would fall with the buyers.

Share this article

0 comments

Comments

Welcome , please leave your message below.

Optional - JPG files only
Optional - MP3 files only
Optional - 3GP, AVI, MOV, MPG or WMV files
Comments

Please log in to leave a comment and share your views with other Hackney Gazette visitors.

We enable people to post comments with the aim of encouraging open debate.

Only people who register and sign up to our terms and conditions can post comments. These terms and conditions explain our house rules and legal guidelines.

Comments are not edited by Hackney Gazette staff prior to publication but may be automatically filtered.

If you have a complaint about a comment please contact us by clicking on the Report This Comment button next to the comment.

Forgotten your password?

Not a member yet?

Register to create your own unique Hackney Gazette account for free.

Signing up is free, quick and easy and offers you the chance to add comments, personalise the site with local information picked just for you, and more.

Sign up now

Click here to read the Digital Edition of the Hackney Gazette on screen
Use our Wedding site to help you plan your big day!
At WeddingSite we know how much you have to organise for your wedding day, that's why we have designed a set of FREE, simple-to-use tools to make the planning process easy & hassle-free. FIND OUT MORE
Find a date using our online dating and friend finder
You can meet new friends, find romance or simply meet up online with people sharing similar interests and hobbies. FIND OUT MORE
Find a local business using our online directory search
Need a plumber? Or a florist? Or anything else? Search our business directory to find Hackney businesses in just a few seconds. FIND OUT MORE
Family notices from the Hackney Gazette, with readers' tributes
In memoriam, birthdays, weddings, anniversaries, best wishes & special days. FIND OUT MORE

Celebrity / Showbiz See all

Drake has cancelled his Wireless London performance (Photo by Theo Wargo/Getty Images for ESPN)

Fans devastated after Drake cancels Wireless London festival

Rapper Drake has pulled out of his headline appearances at this weekend’s Wireless Festival in London, leaving fans devastated.

Read full story »