Category: Hackney (39)

Poor interest rates and falling property prices have left wealthy investors looking for alternative asset classes to put their money into. A weak dollar yesterday pushed the gold price to a record high of $1,072 an ounce. Shoppers at department store Harrods are now able to buy the ultimate luxury accessory – gold bars.

Have these shoppers not heard of high yield buy-to-let investments with good capital growth potential in Central London? You could go to Harrods, or you could go to Findlay.

Some gold

Some gold

The London Times has published a feature on how Hackney has experienced huge price rises especially in Dalston and London Fields with prices up 18 per cent between October 2006 and October 2008, according to the Land Registry.

So, The Times asks is it too late to bag a bargain and are there further large price rises to come?

Nope! Findlay Property are still finding bargains for its clients. Call us on +44 20 7254 9444 to discuss.

Source: The Times

According to estate agency Knight Frank, house prices will end this year 2% higher than they were at the beginning of the year led by the recovery in London and the South-East.

But the agency predicts that throughout next year prices will fall 3% nationally — the classic “W”-shaped recession — although London will continue to grow with prices rising by 3% next year and by 9% in 2011. Five years out, by 2014, London prices will be 38% higher than today while the national gain will be just 19%.

Source: Evening Standard

This week Time Out is running a guide to London’s best street markets.

They say that Broadway Market ‘is one of London’s most successful (and most gentrified) local markets with 80 stalls heaving with cheeses, meat and fish, cakes and preserves and a fruit and veg stall that’s traded on the market for the past 50 years.

Much smaller and less frenetic than Brick Lane, Broadway Market is also pleasingly eco-edged, with a ban on plastic bags and a stall selling souvenir cotton totes – perfect for the local trendies.’

Source: Time Out London

Preliminary works have commenced on Crossrail and are continuing during 2009. Main construction will start in 2010.

Crossrail is the new high frequency, convenient and accessible railway for London and the South East. From 2017 Crossrail will travel from Maidenhead and Heathrow in the west to Shenfield and Abbey Wood in the east via new twin tunnels under central London. It will link Heathrow Airport, the West End, the City of London, Whitechapel and Canary Wharf.

Crossrail will make traveling in the region easier and quicker. It will reduce crowding on London’s transport network. It will operate with main line size trains, carrying more than 1500 passengers in each train during peak periods.

Crossrail will deliver substantial economic benefits in London, the South-East and across the UK. The estimated benefit of Crossrail to the UK economy is at least £36 billion (TfL figures, May 2006).

Crossrail Train

Crossrail Train

The new East London Line is scheduled for completion in May 2010 and will form part of the London Overground network.  Passengers will be able to use their Oyster Cards to access the network. Trains are expected to run every 3-5 minutes during peak hours.

The main structures of the bridges over Brick Lane, Shoreditch High Street and the Regent’s Canal are now in place, and well as the intervening viaduct and the approach viaduct which links up with the elevated Victorian brick viaduct.  The building of the stations all along the route is clearly in progress and is nearing completion.

The line runs through the heart of Hackney linking Whitechapel (Circle, District, Hammersmith, City and Crossrail), Brick Lane and Dalston Junction. The line will terminate at Highbury & Islington (completion 2011) where passengers will be able to interchange with the Victoria Line.

The new ELL bridge spanning Shoreditch High Street

The impressive new ELL bridge spanning Shoreditch High Street

The new ELL bridge spanning the Regents Canal

The new ELL bridge spanning the Regent's Canal

This is an excellent interview with a cunning buy to let investor, his main points being:

– Buy-to-let is a viable option if done correctly
– The ability to obtain finance is crucial
– You have to take a 10 year view on your investment, buy-to-let is not about flipping properties!
– Avoid illusionary discounted deals on new developments

Ta dah!

Hackney Council has designated a new conservation area along Hackney Road.

Following consultation with residents, the council designated the conservation area to protect the area’s special architectural and historic interest.

Hackney Road

Hackney Road

Primelocation.com – Market Report

In the Prime London market there was an insignificant increase (0.33%) in asking prices, but a significant reduction in stock levels, down 1.43% in June, or -2.53% in the Central London area.

Prime London lettings stock increased, leaving them an astonishing 96% higher than a year ago, resulting in a 15th successive fall in average rent.

Source: Rat & Mouse

The findaproperty Rental Index has found that Hackney is the best performer in Central London for rental yields. The average rental yield in Hackney is 5.51% compared to 3.86% in Kensington & Chelsea or 4.44% in Hammersmith & Fulham.

Source: Findaproperty