East End homes see Olympic price boom
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by Gill Montia
With just a few days to go before the opening ceremony of the London 2012 Olympic Games, new research from Lloyds TSB reveals that homeowners living close to the main site have seen the value of their homes rise by nearly £70,000 since London’s winning bid was announced in July 2005.
A typical dwelling across the 14 postal districts closest to the site cost £273,157 in March 2012, having put on 33% or £67,012 since July 2005.
What’s more, three of the 14 districts have recorded price rises of over £100,000 during the period, with Homerton in Hackney heading the list (house prices up 59%), followed by Dalston, also in Hackney (+53%), and Shoreditch (+52%).
Lloyds TSB housing economist, Suren Thiru, comments: “This partly reflects greater interest in these locations from both buyers and investors emanating from the award of the Games and the large scale regeneration taking place there, including improved transport links.”
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