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Dave Beans

The Tale Of Woodberry Down, Hackney

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According to the British Property Federation, 61% of all new homes sold in the capital last year were bought not to live in but solely as an investment. The vast majority of them would have been rented out; 5% were flipped back onto the market.

Why am I not surprised...

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“I’m looking through this and all the amenities that we had already, they’re bragging about. The reservoir, the sailing club, the parks, the local markets: they’ve always been there. I don’t know what they’re actually adding.”

I went to the marketing of this development in Singapore about a year ago, out of curiosity. Units were selling off plan like hot cakes. Luckily I know a bit about London.

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Very interesting stuff especially as I know this area well. Would like to know where the original 1940/50s inhabitants of the estate went to ? From my experience it would be Edmonton, Enfield and various bits of Essex. So nothing much has changed except the people moved out voluntarily to buy a property and have a bit of garden . I would also imagine there was also an element of white flight involved and well paying semi skilled jobs were available around the North Circ and A10.

I suppose classic boomers .

Now the residents have no chance of buying. A 3 bed ex council semi in Edmonton has an asking in excess of £300 k and is an area of high unemployment and crime. Also there's plenty of chip/kebab shops so Mehmet has plenty of competition.

Every adult in London should read this feature and for most ordinary people the writing is on the wall.

Must say The Happy Man pub has the least interesting frontage I've ever seen and deserves to meet the wrecking ball ! Btw it still has the advertising for Christmas/ New year Eves events on it's board......

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I grew up not a million miles from here and wish all the overseas investors the very best of luck, they will need it.

Fantastic piece though - interesting how it's only the left wing press that give a shit about what is happening.

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