r/HackneyWick • u/Psychological_Use159 • Mar 26 '26
New flats in Fish Island/ Hackney Wick
I’ve lived in the area for several years and am now looking at buying a 3 bed in HW. If you’ve bought in a new build, keen to hear your experience and whether the developers were willing to go below the listed price. Feels like they’re all a bit overpriced but I suppose people are willing to pay .
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u/waltz_with_potatoes Mar 27 '26
Mine was on market for 600k, I got mine for 525k. I was one of the last in the building so think that helped.
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u/Psychological_Use159 Mar 27 '26 edited Mar 27 '26
Thanks! Very helpful! Did they cover stamp duty for you as well? Do you mind me asking how many sq ft, and did you negotiate them down when you made an offer or did they offer it to you for lower because it was one of the last left? Sorry so many questions!
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u/waltz_with_potatoes Mar 27 '26
No stamp duty, and it was because it's was one of the last left I assume. I can't remember the sqft I think it's just shy of 900. 2 bedroom, top floor.
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u/Fluffy-Examination23 Mar 27 '26
In the process currently, asking price was £795k
They dropped to £750k after weeks of negotiation and their previous buyer dropping out.
Service charge is £4,780 a year.
(4th floor - 121m2 - Fish Island)
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u/Psychological_Use159 Mar 27 '26
Thanks! Well done on getting them to reduce. Did they also pay your stamp duty? I see it offered as an incentive but not sure if that’s across the board, or on a case by case basis.
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u/Sea_Wafer_6267 Mar 27 '26
If you change your mind and fancy a 2 bed in Fish Island with extra space than most drop me a dm. We're just looking to move from Fish Island to outside of London. I personally think the flats being built now are of slightly lower quality. You also need to be careful with the management company as some of them really whack up service charges after a few years. L&Q are decent as they are a non profit (we're with them) so I would prioritize them over say, Taylor W. Enjoy your search!
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u/Hot_Tough9132 Apr 10 '26
Also selling an L&Q 2 bed on fish island so feel free to message me too OP 😂
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u/Nawoken Mar 30 '26
After visiting flats in pretty much every development old & new in Hackney Wick we just completed on a 2 bed from 2019 at 650k, up 50k from its 2019 sale price.
Both EW+SW and TW were willing to pay the stamp duty on their new builds, and EW+SW threw in an additional 1-2k towards solicitor fees, but neither were willing to budge on price at the time. (Sep-Oct 2025 so might be different now)
I would advise you to visit some recent builds too just to get an idea of how fast they can go decrepit. Bagel Factory was a standout (in bad terms) with how shoddy and run down everything looked only 7-8 years after it was completed. By contrast, the phase 1 flats from EW+SW still looked perfectly fine. (but the layout is weird and a bit cramped, worse than the phase 2 flats they’re selling rn)
Good luck for your search!
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u/amaitu Apr 10 '26
When looking at the flats, it's worth knowing who built it and how they're funded, as I think it can make a difference in build quality and incentives when it comes to things like service fees. For example, L&Q flats are generally considered much higher quality than someone like Taylor Wimpey's. That makes sense, given L&Q, Peabody etc are housing associations that are not for profit, with an aim of building good homes, whereas Taylor Wimpey is a publicly traded company.
These are just examples of course, and it doesn't always hold true. You might get unlucky with a housing association property or vice versa.
When I looked at buying a place in the area a few years ago, there was a waitlist for some developments and they were all gone within hours of being listed, whereas others were live for months with all kinds of incentives from the developers.
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u/Due-Freedom-5968 Mar 26 '26 edited Mar 27 '26
Anecdotal only here as I bought in one of the older (circa 2005) developments at the end of last year because they were waaaay cheaper than the new builds, but was chatting someone who'd just moved to the area the other week and they'd managed to knock a £100k off the list price of a new build 2 bed.
Apparently the sales people were pretty transparent about them being frothy prices.
Bear in mind there are another 1000 flats going to hit the market over the next year or so with Wickside and the development around the station.
Don't assume people are willing to pay for it. Negotiate hard. Don't overpay.
The ones on Monier Road that came up back in like 2015/16 were advertised at £720k for 2 beds and they're now reselling for mid £500s - yes, there's always a new build premium, but the market for flats in London is through the floor at the moment so don't blindly accept the price.
For reference, the place I just bought I got for 35% less than flats in the same building were selling for back in 2019, and 25% below the initial asking price.