Shoreditch: For night owls and creative minds

Background

Shoreditch is located in the London borough of Hackney and has become a popular place to live for young Londoners over the last few years.

It attracts a particularly creative crowd, who are drawn to the region by its eclectic nightlife, cultural offerings and laid-back attitude.

People living in property to rent in Shoreditch are an easy commute away from The City, one London Underground stop away from Angel in the sought-after area of Islington and very close to the heart of the capital's East End.

Bordering Docklands, it is set to be transformed even further in the next few years as this area of London prepares to host the 2012 Olympic Games.

Property

Tenants of property to rent in Shoreditch can expect to pay around £988 a month for a studio and £1,213 each month for a one-bedroom residence. Londoners looking for a bit more space from their home can find two and three-bedroom property to rent in Shoreditch for around £1,525 and £1,816 a month respectively.

Variations in these figures will, of course, occur due to the different quality of individual properties and fluctuating market conditions.

As with many places in London, young people looking to live in Shoreditch are likely to choose the renting option, as the cost of houses and flats in the capital continues to price many young professionals out of the market.

The latest Land Registry figures show that the average price of a property in the borough of Hackney in May was £303,803. The average value of a flat was £259,553, while the average cost of a detached property in the borough was recorded at £465,122.

However, prices have come down over the last 12 months because the average property to buy in Hackney cost nearly £380,000 in May 2008, while the average detached offering could have been secured for a cool £580,000.

Transport

Old Street London Underground station is widely viewed as the gateway into Shoreditch and this can be accessed on the Bank branch of the Northern Line.

Being situated on this line means those who reside in flats to rent in Shoreditch have relatively easy access to London Bridge, Kings Cross, Bank, the popular areas of Upper Street, Highgate and Archway to the north and the nightlife hotspots of Clapham and Balham to the south.

Liverpool Street station is also close to the heart of Shoreditch, meaning residents are near to one of the major London hubs. The Stansted Express runs from Liverpool Street to the Essex-based Stansted Airport, while there is also a National Express coach service based at the station.

Regular buses run down City Road for those who want to jump on one of the iconic red double deckers or the more modern bendy buses into the financial district.

It generally takes just over half an hour to get to the major shopping areas of Oxford Circus and Regent Street on the bus, which residents of property to rent in Shoreditch may find useful for weekend entertainment.

Amenities

Talking of entertainment, Shoreditch offers it in abundance.

Clubs, pubs and trendy food and drink establishments are scattered throughout this part of London, ensuring any young, fun-seeking soul can have a good time.

Green and Red is a tequila bar located on Bethnal Green Road that offers all sorts of flavours of the popular Mexican alcoholic beverage. The downstairs facilities are ideal for large parties and the venue is regularly busy at the weekends.

Various traditional pubs exist in the Shoreditch area such as Griffin and The Legion, while The Hoxton Pony and Queen of Hoxton attract a trendy clientele.

Broadway Market is another Hackney attraction located close to Shoreditch. The street, which is just moments away from the green space of London Fields, offers some great food, cool cafes and a selection of refreshing drinking establishments - all at good prices.

Published 8th July, 2009

© 2009 Estates IT Limited