House price increases harm Hackney renters

Protesters from Hackney Digs at a demonstration against lettings agents fees last year. Photograph: Hackney Digs

House prices in Hackney are continuing their seemingly relentless upward march, but the fact homes in the borough now sell for on average £500,000 ‘serves the interest of a small elite’ according to campaigners Hackney Digs.

In recent months house prices in Hackney have risen by 17 per cent – more than in any other area in England and Wales, according to Land Registry figures.

Heather Kennedy, from Hackeny Digs, which campaigns on behalf of renters, said: “Promises about affordable housing have not been kept. It seems the Olympic legacy is one of social cleansing and gentrification.”

Apart from making it much harder for first time buyers, Digs believe high housing prices will have a negative impact on renters too.

“There’s such a short supply of places, so desperate private landlords will take properties with health and safety issues,” said Ms Kennedy.

She added: “And because there is so much demand, there’s no pressure for them to sort it out because tenants are desperate too.”