Hackney 'will shine in 2008'

The east London borough of Hackney has been tipped as one of the best housing performers of 2008.

Citing Olympic fever in Stratford and improving rail links, the Financial Times referred to the strength of the area in Halifax housing price indexes and predicted further growth in defiance of national trends.

The East London Line extension, repeatedly delayed but now due to open in 2010, is likely to increase demand for property in the area, it was claimed, by making commuting much easier to the City, Canary Wharf and other hubs.

People renting property in the capital are often attracted to Hackney, where prices are still low by London standards and a mix of students, young professionals and longer-term residents create a vibrant community.

Also predicted to boom in 2008 was Tower Hamlets, currently one of the poorer areas of the capital but also looking to reap the benefits of the East London Line revamp.

The Olympic development around Stratford was identified as a highly positive factor for both boroughs, as 'no-go' areas on their eastern edge would be transformed into greener spaces.

News posted on 18th January, 2008