Postcode district: E5
The E5 postcode district lies within or includes part of the following towns, counties, localities, electoral wards and stations: Cazenove, Chatham, Clapton Station, Hackney, Hackney Central, Hackney Downs, King's Park, Lea Bridge, Leabridge, London, New River, Springfield.
Formed in 1965, the Borough of Hackney was made up of the former Metropolitan Borough of Hackney, Shoreditch, and Stoke Newington. The area was once inhabited by a tribe called Eamingas. Their legacy is a major Roman road that was named after them. The street is now known as Ermine Street, which shares the same root as the Old English word. Individual parts of the borough have a rich history, although much of the land and street used to be covered with open oak and hazelnut woodland. The area of Hackney lay in the Catuvellauini tribal territory. The eastern boundary is formed by the River Lee. During the Tudor period, the religious order was prohibited, and Hackney became a leisure centre for many noble people around Hackney Central, Homerton, and Lee Bridge roundabout.
The improvement of Hackney has been immense. According to research done in 2005, residents are more satisfied by the council than they were in 2000. The Council also successfully reduced the level of crime by about 30 per cent within a four year period. With numerous developments in Hackney’s Borough boundary, the land value has increased rapidly. Office developments have mushroomed in the City, nearby the South Western tip, as well as clubs, restaurants, and bars in Hoxton Square. Hoxton and Shoreditch are areas to the south west, and are central to the funky London Art Scene and bring in the younger crowd. Hackney is also being prepared to be a host borough for the 2012 Olympics. Hackney is experiencing ongoing increases in land value and has a strong property market. One of the most expensive streets in the area, Spring Hill, contains properties worth around £540,000 on average. Located on the second right turn from Spring Hill towards Clapton Common is Ashtead Road, with similar average house prices of £500,000. Almost all the properties in this area are semi-detached and located in the quieter areas of the postcode. At the other end of the spectrum, some of the most affordable streets in E5 are Pembury Close, Keir Hardie Estate and Chatsworth Estate. The average prices here are about £115,000. The property types here are purpose-built flats and high-rise apartment buildings. This postcode district area is characterised by a young and ethnically diverse population. It is also on of the most densely populated urban areas in the country. Demographically, almost 60 per cent of households are singletons, and there is a high level of unemployment.