Olympics benefiting east end house prices
www.moneynews.co.uk > Housing market > Olympics benefiting east end house prices
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Money News |
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Olympics benefiting east end house prices
Fri 2nd Feb 2007
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Since the identity of the winning bidder was announced on July 6th 2005, property prices in east London have risen by an average of 15 per cent.
Bouyed by the regeneration projects taking place in this area of London, the three best performing areas were found to be Leytonstone (E11), which has witnessed a 23 per cent rise, Hackney (E8) with 21 per cent and Clapton (E5) which has seen an increase of 18 per cent.
This phenomenon is a common one, as the previous four Olympic Games hosts Barcelona, Atlanta, Sydney and Athens each saw a rise in the average house price in the lead up to the athletics extravaganza.
Compared to the average London property price, the east end offers homes that come at a discounted rate. Eight of 14 post codes in and around the Olympic area currently see their properties trade in excess of 25 per cent less than the London average.
Related News : Housing market |
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