Eastenders receive Olympic bounce

Posted: 02 Feb 2007 10:39:55 GMT


            Property News - Eastenders receive Olympic bounce

Areas of east London immediately around the 2012 Olympic site have seen property prices increase more than 15 per cent since the city won the bid, Halifax has found

Areas of east London immediately around the 2012 Olympic site have seen property prices increase more than 15 per cent since the city won the bid, Halifax has found.

The increase added at least £35,000 to the value of homes in the area and is above the average increase for London as a whole.

Top of the league was Leytonstone, where average prices have climbed an average 23 per cent since the second quarter of 2004, adding an average £50,714 to asking prices.

Hackney and Clapton followed with 21 per cent (£48,578) and 18 per cent (£38,895) average price growth respectively.

"London's winning Olympic bid has boosted regeneration spending in the East End and this has had a positive effect on local house prices," said Tim Crawford of Halifax.

"Despite recent rises, there are eight postal districts close to the Games site where house prices are more than 25 per cent below the London average, which highlights the area's still relatively affordable property prices."

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