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Olympics fuel East End price rise

30th July 2010 | back to article listings BACK    print this article PRINT

Property prices in east London have surged an average of 26% since the capital was awarded the 2012 Olympic Games, a report has found.

In an already swollen London property market, districts such as Homerton have seen prices surge in response to demand due to be generated by the Games, with some jumping nearly 70% in value, data from Lloyds TSB and the Land Registry revealed.

East London's popularity as a property investment hotspot is clearly illustrated when compared to property price rises across the rest of London which came in at 22%.

Widespread improvements to infrastructure in east London such as the extension of the East London line and the connection of a high-speed rail link to King's Cross have seen the area overtake traditionally popular boroughs such as Hammersmith, Fulham and Westminster as investors and homebuyers alike flock eastwards.

The figures show how the arrival of the Games in two years' time has kickstarted growth in neighbourhoods that have been among the most heavily neglected in the capital, bringing with it the much-needed regeneration that has property developers and investors eyeing huge margins for minimal outlay.

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