‘Hipsters’ blamed for driving up house prices across the UK
Hipsters are helping to drive up property prices in certain spots in cities across the UK, according to new research from property listing website Zoopla.
Gentrified areas in 10 of the UK’s largest cities represent the fastest property price growth areas.
Of all the ‘hipster hotspots’ across the UK, Dalston tops the list with the fastest increase in house prices since 2011, with a rise of almost 60%. Stoke Newington comes in 5th, with a percentage increase since 2011 of 51.62%.
Perhaps unsurprisingly, Shoreditch features in 2nd place on the list, while outside the capital, Bristol’s Montpelier and Birmingham’s Jewellery Quarter each receive a mention.
It’s not news that many parts of London have been gentrified beyond all recognition. Previously run down quarters of the capital remained relatively affordable until recently, and its that relative affordability which encouraged young professionals and creatives to move to places such as Dalston, Stoke Newington and Shoreditch in the first place.
As increasing numbers of young creatives flock to a certain area, it doesn’t take long before trendy bars, restaurants, coffee shops and boutiques pop up to accommodate the new population.
For more on this story, click on the link below: