Hackney Wick is a trendier, half-priced Shoreditch for house hunters
Edgy, arty, as well as being refreshingly uncommercialised, this is an exciting and affordable alternative to more established parts of east London.
Sandwiched between Victoria Park to the east and Queen Elizabeth Olympic Park on its western side, creative, community-minded Hackney Wick has changed a lot in the past 15 years, largely due to regeneration kick-started by the 2012 Games.
Derelict industrial sites have been transformed by residential schemes, while canals have been cleaned up. New artist studios, workshops, cafés and bars have opened, and improvements to the Overground make the area far more accessible than ever before.
Victorian terraces, post-war council estates and, increasingly, new builds, account for most local housing.
‘The portfolio of housing stock remains unique where new apartments sit among original buildings including converted warehouses and period terrace houses, complementing the diverse character,’ says Peter Gibney, a director of JLL’s residential development team.
‘You can pick up a one-bedroom flat for around £350,000, though stock is low.’
Sascha Moore, associate director in Savills’ Hackney Wick office, says: ‘Hackney Wick is much more affordable than established areas such as Dalston and Shoreditch, and attracts young professionals. Developments are quite design-led, which also appeals to that market.’
The final phase of one, two and three-bedroom flats is on sale at Hill and Peabody’s Fish Island Village, a new canalside community on the southern edge of Hackney Wick and a short walk from its Overground station and the Olympic Park.
They’re designed to reflect the local industrial heritage, and residents have use of a concierge, state-of-the-art gym, rooftop gardens and workspaces.
From £482,500 and Help to Buy’s available.
Buyers of the final three-bedroom homes will receive a stamp duty contribution and free parking space.
Only a handful of one, two and three-bedroom flats, all with floor-to-ceiling windows, high-spec kitchens, flexible living spaces and balconies, are left at Telford Homes’ Stone Studios.
There’s a communal courtyard, concierge, and Creative Land Trust has acquired commercial space on site that’s being offered to artists and start-ups.
Homes from £510,00 with Help to Buy.
Southern Home Ownership has just launched Vodion, a collection of one, two and three-bedroom shared ownership flats with open-plan kitchen and living areas and private balconies.
They start from £101,250 for a 25% share of full market price £405,000.
Further one, two and three-bedroom shared ownership homes are for sale at Optivo’s 415 Wick Lane, now 70% sold.
All have sleek kitchens with handleless units and their own balcony or terrace, from £140,875 for a 35% share of £402,500.
And the last remaining shared ownership apartments at L&Q at Lock No 19, overlooking Old Ford Lock, are from £136,250 for 25% of £545,000.
More developments are in the pipeline. Later this year Galliard and O’Shea are due to release Wickside, a scheme of about 500 homes, and plans for an additional 772 mixed-tenure homes in the East Wick + Sweetwater neighbourhood have been approved.
Everything potential buyers need to know about Hackney Wick:
Average house price: £469,846
Average rent: £1,911 a month.
Council tax (Band D, Hackney): £1,671.09
Commuting time to Zone 1: 15 mins to Liverpool Street
Annual Travelcard: £1,536
Amenities: ★★★★✩ Mainly independent eateries and bars. Standouts include the Lord Napier pub; Barge East floating restaurant; Crate Brewery & Pizzeria; Here East innovations hub; Queen’s Yard Summer Party is this Sunday; The Yard theatre and music venue; lots of street art; Olympic-standard sports facilities at Lee Valley VeloPark, London Aquatics Centre and Copper Box Arena
Open space: ★★★✩✩ Victoria Park, Hackney Marshes, Queen Elizabeth Olympic Park, waterside walks
Schools: ★★★✩✩ GCSE results average; Mossbourne Riverside Primary Academy gets an outstanding Ofsted rating; Bobby Moore Academy (ages four to 19) is rated good
Crime: Slightly above average
Who lives there? Young professional first-time buyers; second steppers; creatives
Famous faces: Video for Ballad Of The Mighty I by Noel Gallagher’s High Flying Birds was shot in Hackney Wick
What’s on the property ladder?
£400,000
All rooms lead off the hall in this two-bedroom, second-floor, bright flat with separate kitchen and living room, in a modern block. With allocated parking.
£665,000
An end-of-terrace townhouse in a gated scheme with three bedrooms, two bathrooms, canal views, a large kitchen/living/diner, a garden and off-street parking.
Check it out at Henry Wiltshire.
£1.095 million
This four-storey period house overlooks Victoria Park and is in walking distance of Hackney Wick station. It has three bedrooms, three reception rooms, a patio garden and terrace.
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