With just a few days to go before the Olympics, new research reveals that Eastenders living close to the main site have seen the value of their home rise by nearly £70,000 since London’s winning bid in July 2005.
House prices in the area have also outperformed the national market in the past year, says Lloyds TSB.
The average house price across the 14 postal districts closest to the main site for the London 2012 Olympic and Paralympic Games stood at £273,157 in March 2012 – an increase of 33% (£67,012) from the average of £206,145 in July 2005 when London was awarded the Games.
This is equivalent to a weekly increase of £207.
The 33% rise in house prices across the 14 postal districts is greater than the 24% increase in house prices across England and Wales over the same period.
House prices in the 14 postal districts have risen by an average of 1.6% over the past year, outperforming England and Wales.
Dalston is the most expensive location among the 14 postal districts with an average house price of £355,963. Homerton (£341,823) is the second most costly location. Plaistow is the most affordable postal district with an average house price of £189,167.
Comments
@BRIT,
People arent paying more bacause there is a 2 week sports event there?!
For years it’s been a crappy inaccessible bit of London with a massive lump of wasteland but now its got a big swanky ‘park’ and running track, a huge shopping centre and a decent station taking you pretty much anywhere and this infrastructure they talk about, maybe its just a better place now, its not like the Olympics is going to pack up like some massive circus and sod off just leaving tyre prints form thire lorries on the village green and nothing else, they're leaving the big top and the candy floss stand
Of course all this legacy and sustainability stuff might turn out to be a load of old fluff but its probably more expensive because it’s a nicer place than it was before and will stay nicer once the 2 weeks of running races are finished
Jonnie
Any guess how much they will fall after the Olympics finished?
Av £100k perhaps? ;)
Bubble
I might start advising my vendors to stick some land to air missiles on their roof, it's clearly a desirable feature for the security conscious.
Who needs FBA.