Hackney has seen the largest growth in house prices out of all London boroughs in the past 25 years, research from Compare My Move has found.
In past 25 years, house prices in Hackney rose by 845.21% whilst Bexley experienced the smallest gain of 445.63%.
David Sayce, co-founder of Compare My Move, said: “London has seen staggering house price growth over the last 25 years, but it’s not necessarily where you might expect.
“The likes of Kensington & Chelsea have seen consistently high property prices, but it’s Hackney that has seen the largest growth since 1995.”
“It’s likely due to an explosion of new developments and boutique-style businesses over the last few years, which has seen Hackney become a thriving and vibrant borough.
“The 845.21% price increase isn’t just the highest of any London borough – it’s the highest of any local authority across the UK.”
“It’s great to see Hackney thriving – 20 years ago the average Hackney house price was well below the national average. These days, it’s the ninth most expensive London borough, and continuing to climb.”
The average price of a London property has risen by 571.26% between 1995 to 2019,
The borough with the cheapest property price over the past 25 years was Barking and Dagenham at £50,460 in January 1995.