House prices in London next to or nearing th 2012 Olympic site are about to soar.
There are just 2,000 days to go until the Olympic events start. Halifax Estate Agents research shows that house prices in London postal districts near to the 2012 Olympics site have already gone up by 15% plus since it was announced that the British capital had been awarded the games.
Leytonstone has experienced a 23% increase, adding £50,714 to an average property price since mid 2004. Hackney ranks second with a 21% increase (£48,578), with Clapton coming in third with an 18% (£38,895) increase.
Seven other areas near the Olympic site have witnessed house prices going up more than 10% since spring 2006. Such house price rises are just going to continue if other Olympic sites are anything to go by.
House prices in Barcelona, Atlanta, Sydney, Athens all rose more quickly than the national average in the five years preceding the games.
First time buyers have expressed much interest as well as property investors .
The least expensive area to buy close to the 2012 Olympic site is Plaistow, its average house price being £196,263. Eastham is second at £207,543 and Leyton third at £210,599.
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London House Prices at Olympic High
Fri, 02 Feb 2007
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