Hackney sees house prices boom by more than 108 per cent over ten years

Hackney has experienced the highest level of house price inflation over the last decade, new research reveals. 

The study by PlumbNation shows how Hackney saw property values increase by more than 108 per cent over the last decade. 

The median cost of a residential property was £292,500 in December 2010.

And by December 2020, homeowners could have seen their properties values more than double with the median cost booming to £610,000. 

The top ten areas in the country with the greatest increase in house prices are all in London. Waltham Forest came second.

In third place was Lewisham, where property prices increased by 90.43pc.

The 2021 Homebuilders Report by PlumbNation looked at factors such as the cost of land, the proportion of successful applications and property value increases to rank places in the UK in various categories. 

Hackney was also ranked ninth out of the ten local authorities where land is most expensive. The average cost of land in Hackney per 250 metre square plot is £992,250.