How long does it takes to save for a deposit for property in Stratford?

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Stratford and its surrounding areas have become popular and vibrant areas for residents. This has resulted in increased housing prices.

According to new statistics, it takes people 45 years to save for a deposit in Stratford. Property prices have increased rapidly over the last 10 years and the prices to buy apartments in Stratford are very similar to those in the capital.

Stratford’s History

The Bow porcelain factory was a very well known company in the area.  Regarded as one of the first factories in the country to produce porcelain made from a soft-paste.  Stratford became increasingly industrialised with a variety of manufacturers working in the area in the 19th century. By the 1820s, huge developments were visible, such as having its own dock and wharves. Thanks to its position between London and the east of the country, Stratford was also a significant transport hub.

Stratford’s railway station was built in 1839 which became a significant local employer employing 2,500 people in the 1800s. A new town was built to accommodate railway workers with new houses developed and improved infrastructure. This town was originally called Hudson Town, but eventually became Stratford New Town. By the 1860s, there were over 20,000 people living and working in the area.

The arrival of Westfield Shopping Centre has contributed to Stratford’s transformation, popularity and its increased footfall.

Living in Stratford Today

Stratford has transformed into a modern and happening place to live in London.  Its popularity and increased footfall has been contributed to by the arrival of the Westfield Shopping Centre. Stratford’s wealth of vibrancy has expanded to the areas such as Bow and Hackney Wick.

The growing popularity of these areas, has resulted in huge increases in the price of houses. The increased prices means it takes longer for the average person to save for their deposit.

Thinking of buying or selling property in E15?

If you are interested in learning more about buying or selling properties in this area, contact our expert sales team in the Bow Office today.





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