27 Jul

Olympics 'boosted prices of houses for sale in London'

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.ADNFCR-1222-ID-800006287-ADNFCR

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