London house prices rise by £207 a week due to Olympics
House prices have risen by an average of £207 a week since the Olympic Games was awarded to London.
Research by Lloyds TSB discovered in the 14 postal districts closest to the main site for the London 2012 Olympic and Paralympic Games, the typical cost of a property in March 2012 was £273,157.
This represents a 33 per cent increase from the figure of £206,145 in July 2005 and means that lettings in London may become increasingly popular.
In the same time period, there has only been a 24 per cent hike across England and Wales.
Suren Thiru, housing economist at Lloyds TSB, stated: "In general, house prices in the East London postal districts closest to the main Olympic site have performed relatively well since London was awarded the 2012 Olympics in 2005."
He went on to note that, post-Olympics, the area will benefit from the massive regeneration projects that have been carried out.
Posted by Ben Carter
Published 23rd July, 2012
© 2012 Estates IT Limited
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Houses near the Olympic Games site have increased in price by £207 a week since the host city was announced in 2005.