4 Aug

Olympics driving success of property for sale in London

Olympics driving success of property for sale in London

The 2012 Olympics are the driving force behind property for sale in London at the moment, IPINGlobal.com has said, particularly for those looking to make an investment.

Peter Mindenhall, research at the property investment company, said currently both the residential and commercial and retail sectors are showing some of the strongest returns, which are helping to pull the south-east out of recession.

"London itself is continuing to outperform the rest of the country and will continue to do so right up until the Olympics - from that point on it really remains to be seen as to how much value can still be factored into property in the capital," he added.

Mr Mindenhall went on to say that foreign investment in the capital is also currently very high, partly due to the weak pound.

Recently, Savills said the value of residential property for sale in London's prime East, including Canary Wharf and Wapping, rose by 0.4 per cent during the second quarter of 2011.
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