Story Highlights

• Hackney had total Property Sales of £1.94 billions in 2016
• The total number of properties sold in year 2016 was 2623
• The Average property price was £740 K in Hackney while Median was £530 K
• Not New Property contributed 85.44% by value and New Property 14.56%
• Stamp duty changes caused monthly spike in March
• Brexit coupled with Stamp duty changes declined by 3.5% in total sales value

Hackney is one of the Boroughs of East London. It had total Property Sales of £1.94 billions which was 11.82 % of East London Property Market 2016.

Total Sales By Property Type

The split of £1.94 billions across the different property types are:

• Flat/Maisonette £1.04 billions (53.72%)
• Other £444 millions (22.86%)
• Terraced £401 millions (20.64%)
• Semi-Detached £40 millions (2.08%)
• Detached £14 millions (0.7%).

Year on Year Comparison : Compared to Hackney Property Market 2015  in 2016

• Flat/Maisonette, Terraced have shown decline in sales value year on year
• Others has shown growth 85.77% year on year

Hackney Property Market at Postcode level

 For property market details at post code level please click on Postcode in the table above.

Month-wise Break-up of Total Sales

Stamp Duty Hike Impact

1. March had property sale spike of £333 millions  compared to £122 millions in Feb 
2. The impetus for it was to avoid the extra 3% in Stamp Duty Tax applicable on buying an additional home, being applicable from April 1 2016

Brexit Impact

1. Brexit took place on 23rd June 2016.
2. As can be observed from the month-wise break-up there does not seem to have been significant dip in property sales in the immediate aftermath of Brexit 
3. Year on Year the property market for Hackney has shown decline of 3.48% over 2015

Total No Of Properties Sold By Property Type

In Hackney the total number of properties sold in year 2016 was 2623. The breakdown by different property types are:

• Terraced 411 (15.67%)
• Semi-Detached 34 (1.3%)
• Other 166 (6.33%)
• Flat/Maisonette 2003 (76.36%)
• Detached 9 (0.34%).

Year on Year Comparison : Compared to Hackney Property Market 2015 in 2016

• Total number of property sales in Hackney has declined by 20.35%
• Other has shown significant growth of 26.7%.

Average & Median Sales Price

In 2016 the Average property price was £740 K in Hackney. The average price for the different property types are:

• Detached £ 1.5 millions
• Flat/Maisonette £521 K
• Other £2.67 millions
• Semi-Detached £1.18 millions
• Terraced £975 K.

The Median Price was £530 K. The median property price for the different property types are:

• Detached £1.43 millions
• Flat/Maisonette £485 K
• Other £443 K
• Semi-Detached £1.1 millions
• Terraced £945 K.

Year on Year Comparison : Compared to Hackney Property Market 2015 in 2016

• The average and median sales price across all property types have gone up except for Other
• Other had increase in average price and decrease in median price

New Vs Not New Property Statistics

By Value Of Sales

• Not New Property Contributed £1.66 billion (85.44%)
• New Property £283 millions (14.56%) 

 By Number Of Sales

• The number of Not New Property sold was 2183 (83.23%)
• The number of New Properties sold was 440 (16.77%) 

Year on Year Comparison : Compared to Hackney Property Market 2015  in 2016

• New property market share in property market has gone down in 2016 over 2015

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