27
Jul
Olympics 'boosted prices of houses for sale in London'
The Olympic Games, which are to be held in London in 2012, have
given property prices in the capital a boost, Lloyd TSB's housing
economist has said.
Suren Thiru stated that areas close to the Olympic site have seen
sharp rises in values over the last few years.
Data from Lloyds TSB Homerton and Shoreditch confirm the analyst's
comments, revealing that property prices in some parts of east
London have risen by nearly 70 per cent over the last five
years.
It also reported that prices in Homerton have gone up in value by
69 per cent while the cost of houses for sale in Shoreditch has
risen by 53 per cent, whereas the average rise for Greater London
was just 36 per cent.
The housing expert said: "Part of this rise is likely to have been
due to an increased interest in property in these locations from
both buyers and investors as a result of the associated
regeneration taking place."
London began its countdown to the 2012 Games today (July 27th),
with events taking place all over the capital to celebrate the
occasion.