Friday, Feb 02, 2007
Any truth in the 'Olympic effect'?
Firstrung: House prices in East End of London rise after Olympic win - Halifax
With 2,000 days to go to the start of the 2012 Olympics, new research from Halifax Estate Agents shows that house prices in three London postal districts close to the site of 2012 Olympics games have risen by more than 15%, or at least £35,000, since London's winning bid was announced
Posted by converted lurker @ 12:34 PM (221 views) Add Comment
9 Comments
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1. Chilli said...
yes but this was before the housing boom of the 2004-present
I hate the olympics. I really see no reason the city of london should be paying for 'toys' rather than investing in infrastructure.
Someone might argue that the olympics will stimulate investment in transport for instance. But in this scenario, investing in transport to get people to work for every day life becomes secondary to getting visitors to the stadiums for a few months of 2012.
What a joke.
2. Cstanhope707 said...
Well in that case how about a "Windfall Tax" for all property owners in these areas after all it is public money being used here.
3. This comment has been removed as it was found to be in breach of our Blog Policies.
4. denzil said...
And the point of the Halifax research is?
It's probably worth looking for other press releases from the Halifax as this seems like a pointless smokescreen.
5. Andy said...
Mini pop - 5 Years away yet. Just speculators over reacting and Halifax getting in on the act.
I expect that this figure will adjust downwards over the next 2 years as people realise that the fluidity of the housing market isn't based on a short period event.
For reference consult the Australian House Price Index around 2000 - dips occured in the 1990's like everywhere else and the real spike in HP didn't come till 4-5 Years after the Syndney olympics 2000.
This is another invoice coming in for the tax payer to pick up. Ker Ching - thankyou very much here's your reciept and your IVA.
6. Retired Banker said...
According to the local press, house prices in my locality (South London/Surrey border) have risen 10% in the last 12 months, and
this area is thankfully well away from the Olympic site.
Why on earth would any sane person want to buy a property anywhere near such a disruptive project, and in such an "armpit" locality
as Stratford?.
7. enuii said...
Who cares!
8. David20040_0 said...
Any excuse to push prices up.
9. Nohpc said...
Most of London went up around 10% last year so no big news here. Thank god I own a property!