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Average house prices in Hackney break through the half a million pounds barrier

PUBLISHED: 15:55 06 February 2014 | UPDATED: 15:55 06 February 2014

The property market in Hackney has shown the highest leap in England and Wales. Picture: Graeme Robertson/Getty Images

The property market in Hackney has shown the highest leap in England and Wales. Picture: Graeme Robertson/Getty Images

2004 Getty Images

Hackney recorded the biggest year-on-year leap in house prices in England and Wales last year.

Average prices hit the £500,000 mark for the first time in December, according to figures released from the Land Registry.

The borough showed a 17 per cent increase in prices from the previous year.

The £502,000 average price in the borough compares with a nationwide average of £167,353, according to the organisation’s house index.

The Land Registry figures, which are based on completed sales, show prices in the area increased by 2.6pc in December alone.

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