Tower Hamlets Area Guide

The east London borough of Tower Hamlets runs along the river Thames with the City to the west, and Greenwich to the south. Covering much of the traditional East End, the borough is popular with both City and Canary Wharf workers. 

The east London borough of Tower Hamlets runs along the river Thames with the City to the west, and Greenwich to the south. Covering much of the traditional East End, the borough is popular with both City and Canary Wharf workers. This is an area of variety and contrasts - from the shiny high rises and prestigious business hub of Canary Wharf to Brick Lane’s quirky coffee shops, vintage pop-ups and characterful eateries. Tower Hamlets is hugely diverse and, with the largest population under 40 of all the London boroughs and more than half of the population from an ethnic minority background, there is no shortage of energy and culture in this vibrant area.

Property market

£418k Average house price
£1,998 Average Rent, 2 Bed
4% Average yield
-10% Price growth over last 5 years
22% Price growth 5-years forecast
15% Rental growth over last 5 years
16% Rental growth 5-years forecast

Lifestyle

20 Number of ‘Outstanding’ primary schools
7 Number of ‘Outstanding’ secondary schools
615 Restaurants and cafes
1,390 Number of shops
27% Proportion of open space
36 Number of stations
4 PTAL (Public Transport Accessibility Level)

Head to the famous Colombia Road to see the colourful displays of the flower market, or venture south to Spitalfields Market for antiques and vintage one-of-a-kind pieces. Home to much of the redeveloped Docklands and Canary Wharf on the Isle of Dogs, Tower Hamlets high-end apartments are slowly being joined by more affordable housing and creating more close-knit communities. Regeneration in Tower Hamlets continues apace with ever-increasing targeted investment to further enhance this thriving London borough.

 

Insights

 

  • Average house prices are 19% below the London average
  • Average rent for a 2-bed flat is 12% higher than the London average
  • House prices fell 10% over the last 5 years, compared with London where they grew 10%. However, over the next 5 years, house price growth is expected to be 22%, higher than London at 19%
  • Average asking rents grew 15% over the last 5 years, higher than London at 14%
  • Over the next 5 years average rents are expected to grow by 16%, higher than London at 14%
  • 30% of the borough's primary schools are rated as outstanding by Ofsted, higher than the London figure of 27%
  • 39% of the borough's secondary schools are rated as outstanding by Ofsted, higher than the London figure of 36%
  • 182 shops per square mile, higher than the figure for London of 73.48
  • 81 restaurants and cafes per square mile, higher than the figure for London of 24.29

The Isle of Dogs, where Canary Wharf is located, is thought to be named after Edward III's greyhounds that were kept there.

Stepney Green is in walking distance of the infamous Brick Lane for delicious food, but you are also close to Shoreditch and its diverse activities and nightlife. My favourite walk is along the Regent’s Canal, which can take me from my doorstep to Victoria Park. We usually do this on a Sunday and catch the market, grab some lunch and sit by the lake.

London boroughs

Use the map below to find out what the other boroughs in London have to offer:

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Disclaimers

*Please note the forecasts in this report are historic and not reflective of current market conditions

  • Average 2-bed yield is calculated by REalyse using median 2-bed asking rent and median 2-bed sales prices.  
  • Rental growth over the last five years is for all property (not 2-beds).
  • All data is the latest available as of January 2022.
  • PTAL – Transport for London's (TFL) Public Transport Accessibility Levels (PTALs) are a detailed and accurate measure of the accessibility of a point to the public transport network, taking into account walk access time and service availability. Each area is graded between 0 and 6b, where a score of 0 is very poor access to public transport, and 6b is excellent access to public transport.

 

Sources

 

  • Average Price – ONS, October 2021
  • Asking rent – Realyse, December 2021
  • Yield – Realyse, December 2021
  • House price and rental forecasts – CBRE Research - Read our five-year forecast 
  • Outstanding primary and secondary schools – OFSTED (December 2021)
  • Number of cafes and restaurants – ONS (2020)
  • Number of shops – ONS (2021)
  • Open space – GiGL (2015)
  • Number of stations – TfL (2015)
  • PTAL – TfL (2015)