How much do you think the riots will effect house prices in Hackney

chimpxp

Hi

I'm in the process of buying a two bedroom flat in hackney close to where the riots were last night. How much, if at all, do you think the value will have changed? I'm considering either pulling out altogether or revising my offer.

Many thanks

Chimp

crazyguy

I would revise my offer and go back with a lot less !

DizzyDasher

Too early to say. I live near Dalston, but where I am you wouldn't know anything had happened but for the police helicopter and sirens. If it's now over then my guess is not too much impact in the longer term (after all it's hit lots of other bits of London too). If I was near Clarence Road I might be more worried - but on the other hand I have friends who live near there and they always told me not to walk down Clarence Road even before last night, so I'm not sure how much difference this really makes.

Depends on how you feel about the flat and the area more generally, and how upset you'd be to lose it. If you think you would be upset, I'd at least give it a few more days for things to settle down and then see how you feel.

ILW

Cannot see the current bother putting the prices up.

hazyjo

Wouldn't make the slightest bit of difference to me. Hackney's always been good and bad, and is getting increasingly expensive. It seems most of the trouble has been caused by people targetting Hackney (along with other areas), not by the residents themselves protesting or fighting about something.

Jx

chimpxp

hmmmm it's on queensdown road though and there's already problems knowing how much the lease is going to cost to extend. getting cold feet

BitterAndTwisted

Over the long-term I don't think that it's going to make any difference whatsoever.

Tottenham resident here, who has seen none of the local disturbances directly. It's all peace and tranquility here and probably going to stay that way

chimpxp

i've heard a few people getting cold feet about the north east of london in general. I still like hackney and am considering revising my offer. not sure what a fair revision would be though..... maybe a 2% reduction?

HiYield

Depends if you see this as a one-off. I think it was, so should have no bearing on prices in my opinion. London is generally on the up most of the time. Other factors come into play also, extension of the underground, regeneration of the local area. Long term these factors will have greater influence.

pararct

It will have an effect but exactly how much of one is difficult to gauge at this point.

Part of the movement in the London market relies on foreign investors coming in at the top and this filters down. The events of the last week will have not endeared themselves to these people!!

It may all be quiet and peaceful at the moment and lets hop it stays that way but I fear this is more to do with the huge numbers of police that have been bussed in. They cannot keep those numbers on the streets indefinitely. The test will be if it remains normal when policing goes back to usual levels.

Not to mention all of the bad news economic stuff that kicked this off is still there!!