Landlords in East London real winners of 2012

House prices in East London have increased by more than a quarter since the London 2012 announcement, according to new figures from Lloyds TSB.

Two areas have seen house prices rise by almost double the London average of 36 per cent since 2005.

Homerton and Shoreditch have seen prices go up by 69 per cent and 53 per cent respectively.

On average, the fourteen postal districts near the Olympic Park have seen values go up by more than a quarter, at 26 per cent.

This is still below the London average, which could make homes in these areas attractive to property investors and landlords looking to expand their portfolios.

However, Stratford, where the Olympic Stadium is located, has seen only a three per cent rise in prices.
 

Commenting on the findings, Lloyds TSB's housing economist Suren Thiru 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. The picture, however, is mixed.
 

"Looking forward, property prices across East London are likely to receive a boost from the legacy of improved infrastructure and transport links left by the London 2012 Olympics."
 

Property investors looking in the London area could benefit from the still relatively low prices in some parts of East London, in particular Stratford.
 

Posted by Luella Ravelin

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